World Cloud Security Market Is Estimated to Reach $8.9 Billion by 2020 - Allied Market Research

According to a new report published by Allied Market Research titled, “World Cloud Security - Market Opportunities and Forecasts, 2014–2020,” the world cloud security market is expected to generate $8.9 billion by 2020, registering a CAGR of 23.5% from 2015 to 2020. North America dominates the world cloud security market, owing to growing adoption of cloud services in several industries in the region. However, Asia-Pacific region is expected to grow rapidly during the forecast period.

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Growing trend of BYOD and upsurge in the adoption of cloud adoption across diverse verticals, such as healthcare, government, retail, IT & telecommunications, BFSI, and others, have fueled the growth of the market. In addition, rising number of cyberattacks & threats alike fuel the growth of the cloud security market. The world cloud security market is expected to thrive in future due to increasing dependency on cloud-based applications & services for payments & financial transactions, data storage, social media, and others.

The world cloud security market is segmented into type, end user, vertical, deployment, and geography. Based on end user, the market is segmented into large enterprises and small & medium enterprises. Large enterprises segment dominates the market, owing to increased adoption of cloud services and cloud security services. However, small & medium enterprises have witnessed significant increase in the adoption of cloud security services and the segment is expected to grow at a CAGR of 25.7% during the forecast period (2015-2020).

Among cloud security services, the email & web security solutions segment accounted for the largest share of 24.5% of the overall market revenue in 2014, owing to their widespread adoption among large, medium, and small enterprises. Additionally, cloud security network security solution & cloud identity and access management segments are expected to exhibit...