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New study: Cloud workload protection market to hit 24.4% to 2023 and estimated to reach US$ 6.70 billion

IT Market Research

Some of the key vendors in the cloud workload protection market are Bracket (US), CloudPassage (US), Dome9 (US), Evident (US), GuardiCore (Israel), HyTrust (US), LogRhythm (US), McAfee (US), Sophos (UK), Symantec (US), Trend Micro (Japan), and Tripwire (US). These players have adopted various strategies, such as new product launches, acquisitions, and partnerships to cater to enterprises in the market.

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Cloud workload protection market size is expected to grow from USD 2.25 Billion in 2018 to USD 6.70 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 24.4% during the forecast period. The major drivers of this market include growing adoption of multi-cloud strategy, increasing need to fortify the enterprise network against unauthorized and unprecedented strikes, centralized policy management, and simplified installation for distributed enterprise networks.

Key Target Audience

  • Government agencies
  • Cybersecurity vendors
  • Network solution providers
  • Independent software vendors
  • Consulting firms
  • System integrators
  • Value-added Resellers (VARs)
  • Cloud Service Providers (CSPs)
  • Information Technology (IT) security agencies
  • Managed Security Service Providers (MSSPs)

The cloud workload protection market report has been broadly classified on the basis of solutions into monitoring and logging, policy and compliance management, vulnerability assessment, threat detection and incident response, and others (tokenization, encryption, and key management).

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On the basis of services, the market has been classified into training, consulting, and integration; support and maintenance; and managed services.

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The policy and compliance management segment is expected to grow at the fastest rate during the forecast period. The key reason for the high growth is an efficient policy management that enables the segmentation requirements for compliance with various regulations, including General Data Protection Regulation (GDPR), Payment Card Industry Data Security Standard (PCI DSS), and Health Insurance Portability and Accountability Act (HIPAA), and Revised Payment Services Directive (PSD2).

Cloud Workload Protection Market By Vertical

  • Banking, Financial Services, and Insurance (BFSI)
  • Healthcare and life sciences
  • IT and telecommunications
  • Retail and consumer goods
  • Manufacturing
  • Government and public sector
  • Media and entertainment
  • Energy and utilities

The public cloud segment is estimated to account for the largest market share in 2018 and is expected to grow at a significant rate during the forecast period. The major reason for the high adoption of the public cloud is its ease of access and faster deployment.

This segment offers various benefits, such as scalability, reliability, flexibility, and remote location access to enterprises.

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The cloud workload protection market has been segmented on the basis of solutions, services, deployment models, organization size, verticals, and regions. A detailed analysis of the key industry players has been done to provide key insights into their business overview, products and services, key strategies, new product launches, partnerships, agreements, collaborations, business expansions, and the competitive landscape associated with the cloud workload protection market.

Cloud Workload Protection Market By Solution

  • Monitoring and logging
  • Policy and compliance management
  • Vulnerability assessment
  • Threat detection and incident response
  • Others (encryption, tokenization, and key management)

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