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Cloud Compliance Market by Component, Application, Cloud Model, Organization Size, Vertical and Region - Global Forecast to 2027

Cloud Compliance Market by Component, Application, Cloud Model, Organization Size, Vertical and Region - Global Forecast to 2027

  • September 2022
  • 308 pages
  • ID: 6323917
  • Format: PDF
  • MarketsandMarkets

Summary

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The global cloud compliance market is projected to grow from USD 30.0 billion in 2022 to USD 59.1 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 14.5% during the forecast period. The outbreak of COVID-19 has led to a definite surge in cloud adoption globally across diverse industries. The worldwide lockdown and remote working necessitated by the pandemic have forced enterprises to adopt cloud services to a large extent. Major cloud companies, such as Amazon and Google, heavily invest in enhancing their cloud security offerings to combat the ever-evolving cyberattack scenario. Microsoft reported a 775% increase in the demand for its cloud service platform during the pandemic. However, migrating to cloud also makes organizations more vulnerable to cyber-attacks. Enterprises operating on cloud environments, such as Google Cloud, Azure, and AWS, highly demand cloud security offerings.
• By component, the services segment is expected to grow at a higher CAGR during the forecast period

The services segment is expected to grow at a higher growth rate during the forecast period.The segment has been broadly classified into professional and managed services.

Services aim at training and developing expertise, providing timely upgrades to software solutions, and helping customers integrate these with other Information Technology (IT) solutions. With the increasing adoption of cloud compliance solutions across organizations, the demand for supporting services is also expected to increase among organizations.
• By organization size, the large enterprises segment is expected to account for the largest market share

The large enterprises segment is expected to account for the largest market size.Organizations with more than 1,000 employees are called large enterprises.

These enterprises are the early adopters of cloud compliance software and the associated services, as they use many cloud applications susceptible to cyberattacks. As these enterprises are large, with different types of IT infrastructure, they face various difficulties while managing security and compliance on several applications across enterprises.
• By vertical, the healthcare segment is expected to grow at the highest CAGR during the forecast period

The healthcare segment is expected to grow at the highest CAGR during the forecast period.The vertical has always been more cautious when it comes to new deployment mechanisms, especially when they involve cloud.

In healthcare, patient care is of the utmost importance, and this goes beyond clinical care. The rising need to safeguard patient private data and records and comply with privacy and data security requirements is driving the adoption of cloud compliance software solutions in the healthcare vertical.

The breakup of the profiles of primary participants is given below:
• By Company: Tier 1 - 40%, Tier 2 - 35%, and Tier 3 - 25%
• By Designation: C-Level Executives - 45%, Directors - 30%, Others - 25%%
• By Region: North America - 35%, Europe - 30%, Asia Pacific - 20%, Rest of the World - 15%

Notes:
Others include sales managers, marketing managers, and product managers.
The companies have been categorized based on their total annual revenue.
Tier 1 = Companies with revenue of more than USD 10 billion, Tier 2 = Companies with revenue between USD 1 and 10 billion, and Tier 3 = Companies with revenue between USD 500 million and USD 1 billion
The figure above represents the indicative list of primary profiles.

Source: Secondary Literature, Expert Interviews, and MarketsandMarkets Analysis
The following key cloud compliance vendors are profiled in the report:
• Microsoft (US)
• IBM (US)
• Check Point (Israel)
• AT&T (US)
• Broadcom (US)
• Qualys (US)
• Nutanix (US)
• Sophos (UK)
• Oracle (US)
• Palo Alto Networks (US)
• AWS (US)
• Lacework (US)
• Zscaler (US)
• McAfee (US)
• Fidelis Cybersecurity (US)
• Fortinet (US)
• Atos (France)
• Radware (Israel)
• Proofpoint (US)
• Orca Security (US)
• Aqua Security (US)
• Secureframe (US)
• Cavirin (US)
• Vanta (US)
• Horangi Cyber Security (Singapore)
• Cloudcheckr (US)
• Threat Stack (US)
• Fungue (US)
• Sonrai Security (US)

Research Coverage
MarketsandMarkets segments the cloud compliance market based on component (software and services), application (audit & compliance management, threat detection & remediation, activity monitoring & analytics, visibility & risk assessment, and other verticals), cloud model (IaaS, PaaS, and SaaS), organization size (large enterprises and SMEs), vertical (BFSI, government, healthcare, IT & ITeS, retail & eCommerce, manufacturing, utilities, and other verticals), and region (North America, Europe, Asia Pacific, Middle East and Africa, and Latin America).
The report also provides a comprehensive review of the drivers, restraints, opportunities, and challenges in the cloud compliance market. It covers the qualitative aspects in addition to the quantitative aspects of the market.

Reasons to Buy the Report

The report would help market leaders and new entrants in the following ways:
• It comprehensively segments the cloud compliance market and provides the closest approximations of the revenue numbers for the overall market and its subsegments across different regions.
• It would help stakeholders understand the pulse of the market and provide information on the key market drivers, restraints, challenges, and opportunities in the market.
• It would help stakeholders understand their competitors better and gain more insights to enhance their positions in the market. The competitive landscape section includes a competitor ecosystem, new product launches, product enhancement, partnerships, mergers, and acquisitions.

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