The Asia Pacific Cloud Security Market would witness market growth of 15.5% CAGR during the forecast period (2021-2027).
Owing to the fast-paced nature of the industry, open source platforms may become more popular. Security-as-a-service products and managed security service providers will gain momentum in the industry as a result of the variety of data and varied attack vectors. The industry will benefit from the sharing of security and data protection responsibilities between cloud service providers (CSPs) and cloud end users. In addition, technologies like virtualization and convergence, as well as programmes like computer emergency readiness teams (CERTs), are anticipated to aid in the implementation of security at various levels of cloud infrastructure.
According to Cisco, The Future of Cloud in Asia Pacific, overall cloud spending in the area is predicted to attain an amount of US$200 billion by 2024, with cloud investment expanding at a growth rate of over 20% CAGR since 2018. Singapore is one of the top markets in Asia Pacific for overall IT spending, which includes apps, infrastructure, platforms, and services. By 2024, the economies of Indonesia, Malaysia, the Philippines, and Vietnam are expected to lead the pack in terms of cloud spending growth, with a growth of 25% CAGR.
In the past, insufficient security was a major argument for businesses to avoid adopting public cloud solutions. Surprisingly, in recent years, cloud security has become a significant motivator to take more immediate action. This increase in confidence is not coincidental: cloud service providers' efforts in cutting-edge security solutions have played a key role. Automated solutions that use machine learning algorithms to forecast and respond to the next generation of cyberattacks, for example, are making cloud computing more safe for enterprises. Furthermore, the majority of popular cloud security solutions have a single dashboard that provides insight into the whole security posture, allowing businesses to take consistent threat remediation activities throughout all platforms and workloads.
The China market dominated the Asia Pacific Cloud Security Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $6.8 billion by 2027.The Japan market is exhibiting a CAGR of 14.8% during (2021 - 2027). Additionally, The India market would experience a CAGR of 16.3% during (2021 - 2027).
Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises (SMEs). Based on Vertical, the market is segmented into Telecom & IT, BFSI, Healthcare, Retail & eCommerce, Government & Defense, Utilities, Manufacturing, and Others. Based on Application, the market is segmented into Email & Web Security, Cloud Identity & Access Management, Data Encryption & Prevention, Threat Intelligence, Monitoring & Protection, and Others. Based on Service Model, the market is segmented into Software-as-a-Service (SaaS), Infrastructure-as-a-Service (IaaS), and Platform-as-a-Service (PaaS). Based on Security Type, the market is segmented into Network Security, Endpoint Security, Perimeter Security, Application Security and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Cloud Security Market is Projected to reach USD 86 Billion by 2027, at a CAGR of 13.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include McAfee Corp., IBM Corporation, Microsoft Corporation, Google LLC, Amazon Web Services, Inc., Cisco Systems, Inc., Palo Alto Networks, Inc., Check Point Software Technologies Ltd., Sophos Group PLC (Thoma Bravo), and Trend Micro, Inc.
By Organization Size
By Vertical
By Application
By Service Model
By Security Type
By Country
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