Cloud Security Market Growing at 15% CAGR to Hit 13.67 Billion by 2022

Browse complete report on cloud application security market forecast to 2022, the cloud application security market begins with capturing data from various industry associations and consortiums, such as Cloud Security Alliance (CSA), SANS Institute, RSA Security, SC Magazine, and other sources, including company financials, journals, press releases, paid databases, and annual reports.

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These vendors have adopted various types of organic and inorganic growth strategies, such as new service launches, partnerships and collaborations, and acquisitions, to expand their offerings in the cloud application security market.

 The cloud application security market size is expected to grow from $6.78 billion in 2017 to $ 13.67 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 15.1%. The cloud application security market is driven by factors, such as strong regulations and compliance requirements, easy integration of cloud application security solutions with organizations’ existing security infrastructure, and rise in security breaches targeting business-critical cloud applications.

Top 10 major vendors that offer cloud application secuirty solutions and services across the globe by 2022, such as

1. Cisco Systems (US),
2. Fortinet (US),
3. Microsoft (US),
4. Oracle (US),
5. Palo Alto Networks (US),
6. Proofpoint (US),
7. Symantec (US),
8. Bitglass (US),
9. CensorNet (UK),
10. CipherCloud (US),

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the cloud application security marketplace.

1. By Company Type: Tier 44%, Tier 37%, and Tier 19%
2. By Designation: C-Level: 65%, Manager Level: 35%
3. By Region: North America: 33%, Europe: 44%, APAC: 18%, and RoW: 5%

However, non-acceptance of CASB as a security solution by enterprises is acting as restraining factor in this market. Furthermore, lack of technical expertise among the enterprise workforce for the development of advanced cloud application security solutions and lack of awareness about advanced cyber threats and growing security concerns are the biggest challenges for organizations.