The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033
— The Business Research Company
LONDON, GREATER LONDON, UK, June 19, 2024 /EINPresswire.com/ — The global cloud data security market, encompassing practices, technologies, and policies to safeguard data in cloud computing environments, is poised for significant growth. It is expected to expand from $ 5.41 billion in 2023 to $ 6.02 billion in 2024, marking a compound annual growth rate (CAGR) of 11.3%. It will grow to $9.34 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%. This growth is driven by factors such as increased cloud adoption, regulatory compliance, and the rising incidence of security incidents.
Rise in Cyber Data Theft Fuels Market Growth
The rise in cyber data theft, characterized by unauthorized access to personal and financial data, has propelled the demand for robust cloud data security measures. Factors contributing to cyber data theft include increased connectivity, data proliferation, and globalization trends. Effective cloud data security mitigates these risks by implementing comprehensive measures to protect sensitive information stored in cloud environments.
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Major Players and Market Trends
Leading companies in the cloud data security market, such as Amazon.com Inc., Alphabet Inc., and Microsoft Corporation, are at the forefront of developing advanced data security solutions. These solutions aim to enhance data security through features like zero-trust architecture, automated threat detection, and global policy-driven workflows. For instance, Rubrik Inc. launched Rubrik Security Cloud, integrating machine learning to monitor data risks and ensure rapid data recovery.
Market Segments
The cloud data security market is segmented based on:
• Components: Solutions, Services
• Organization Size: Large Enterprises, Small and Medium-Sized Enterprises
• Industry Vertical: Banking, Financial Services, and Insurance (BFSI), Information Technology and Telecommunications, Healthcare, Retail and E-commerce, Government, Other Industry Verticals
Regional Insights: North America Leading the Charge
North America dominated the cloud data security market in 2023, driven by stringent regulatory frameworks and high adoption rates of advanced security solutions. The region is expected to maintain its leadership position throughout the forecast period.
Access the complete report for an in-depth analysis of the global cloud data security market: https://www.thebusinessresearchcompany.com/report/cloud-data-security-global-market-report
Cloud Data Security Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Cloud Data Security Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on cloud data security market size, cloud data security market drivers and trends, cloud data security market major players, competitors’ revenues, market positioning, and market growth across geographies. The cloud data security market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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Originally published at https://www.einpresswire.com/article/721236011/driving-growth-with-cloud-data-security-innovations
