The Europe Cloud Security Market would witness market growth of 12.8% CAGR during the forecast period (2021-2027).
Cloud infrastructure is gaining popularity as a result of its advantages like on-demand services, flexibility, scalability, and cost effectiveness. Aside from the debate over public vs. private cloud, the rise of hybrid cloud has provided cloud customers with a plethora of platforms and frameworks to select from. As cloud usage rises to new heights, security concerns among cloud users and providers are rapidly becoming more prevalent.
The need for cloud security solutions is expected to rise throughout the projected period, owing to recent data breaches and the growing danger of cybercrime and targeted assaults. Due to the rising demand for industry-wide standards, the market is expected to see substantial efforts by industry participants in the establishment of regulations and compliance rules. The total cloud security industry is likely to grow as demand for security services and policy implementation rises.
The energy industry in Europe has seen greater adoption of Industry 4.0, with enhanced ways for generating, transporting, and consuming energy. Climate change, changing energy prices, and supply problems are all addressed by these new laws and government policies. For example, Germany has initiated the Energiewende, a renewable-energy revolution that includes solar, hydroelectric power, and wind, and also smart grid operations. In France, nuclear energy is the dominant source of electric power.
Through plant-specific modifications and improvements with the newest digital technology, these utilities have utilised automation to improve their processes and plant efficiency throughout their downstream, upstream, and midstream activities. All major commission efforts, including as the Energy Union package, the Digital Single Market, and the Single Market strategy, place a strong emphasis on digitalization of the energy industry in Europe.
The Germany market dominated the Europe Cloud Security Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $5.0 billion by 2027. The UK market is poised to grow at a CAGR of 11.8% during (2021 - 2027). Additionally, The France market would witness a CAGR of 13.6% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Cloud Security Market Size will Hit $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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