Cloud Application Security Market – Global Industry Analysis and Forecasts (2023-2029)

Cloud Application Security Market was valued at US$ 46.65 Bn. in 2022. Cloud Application Security Market size is estimated to grow at a CAGR of 13.8 % over the forecast period.
Cloud Application Security Market Overview:
The report explores the Cloud Application Security market's segments (Type, Interferometer Type, Application, End-User, and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). This market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2020. The report investigates the market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the market's contemporary competitive scenario.

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COVID-19 Impact on Cloud Application Security Market:
The COVID-19 pandemic has upended many lives and businesses on an unprecedented scale. However, the cloud computing industry has emerged stronger from this event recording surges beyond what it normally experiences. Netflix reporting twice as many new subscribers, it’s clear that the Internet and its surrounding ecosystem have become more valuable than ever. The closure of movie theaters has caused many to flock to alternatives such as Netflix and Amazon Prime Video the former of which saw its app downloads jump at least 60% in Italy, 30% in Spain, and 9% in the USA during the pandemic. The giants such as amazon, google, and Microsoft derives much of their revenue from and grow from their respective cloud businesses. One thing is clear through -companies from other industries are now starting to realize the benefits and value of cloud application security.

2022 is considered as a base year to forecast the market from 2022 to 2029. 2022’s market size is estimated on real numbers and outputs of the key players and major players across the globe. The past five years' trends are considered while forecasting the market through 2029. 2020 is a year of exception and analysis, especially with the impact of lockdown by region.
Cloud Application Security Market Dynamics:
Cloud application security is the process of securing cloud-based software applications throughout the development lifecycle. It includes application-level policies, tools, technologies, and rules to maintain visibility into all cloud-based assets, protect cloud-based applications from cyberattacks and limit access only to authorized users. The increase in digitalization, cybercrime, cyberattacks and cyber espionage campaigns have increased many folds these are the major key factors driving the growth of the cyber application security market. The increasing demand for cloud computing by SMEs in their process and operation has increased due to its potential benefits such as ease of access, quick deployment, low IT infrastructure requirement, and low installation cost will further boost the demand for market during the dur forecast period. The demand for cloud-based services has surged to the COVID-19 pandemic which has forced the enterprise to adopt cloud services to a large extent due to work from home scenario worldwide. The growing number of Internet of things-based applications and rising adoption of BYOD policies within the enterprise are propelling the growth of cloud application security across the globe.

The major challenge faced by the market is misconfiguration, Unauthorized access, Insecure API, and External data sharing. Cybersecurity misconfigurations are considered one of the biggest security threats because it’s almost impossible to detect them with usual monitoring tools. Misconfiguration mostly happens due to the complexity and constant changes to cloud environments, in addition to human errors. API allows parts of the cloud software and third-party products to seamlessly interact with each other. The poorly protected, API can become gateways for hacking attacks and data leaks. Cloud services make it extremely easy to share data with vendors, employees, and clients all around the world. Some enterprises have developed multi-cloud environments and use cloud services from different vendors which result in data leaks and loss of control over an organization’s sensitive data.

Cloud application security is another industry for organizations that are operating in multi-cloud environments hosted by a third-party cloud provider such as Amazon, Microsoft, or Google as well as those that use collaborative web applications such as Slack, Microsoft Teams, or Box. The government across the countries is investing in cloud computing delivery models by promoting smart city initiatives and smart transportation projects. Governments in middle east countries came up with the motive of transforming the cities and making them digitally connected and are focusing on the development of smart buildings, smart transportation services, and smart cities. The heavy investment in cloud technology by the government will boost the growth of the market during the forecast period.
Cloud Application Security Market Trends:
The rapid technological innovation and rising trend of using artificial intelligence in cloud application software to enhance security is the major factor contributing to the growth of the market. Cloud application security is a suite of application security that is delivered via the cloud. Cloud application security supports various deployment modes including reverse proxy, log collection, and API connectors. It provides rich visibility, control over data travel, and sophisticated analytics to identify and combat cyber threats across all internal and third-party cloud services. Some of the significantly effective practices for cloud-based application security include application security that meets the top demanding use-cases specific to applications hosted in the cloud. A fully-featured application programming interface (APIs) that provides comprehensive control via orchestration tools is driving the adoption of cloud application security by DevOps teams, which in turn is expected to boost the global market growth.
Cloud Application Security Market Segment Analysis:
Based on the Component, the Cloud Application Security Market is segmented into Services and Solutions. The solution segment holds the largest market share in 2022 and will remain the same during the forecast period. The rising adoption of BYOD policies in organizations and increasing mobile penetration are driving the growth of the segment.



Based on Application, the Cloud Application Security Market is segmented into. Banking, Financial Services, and Insurance (BFSI), Government and defense, IT and telecom, Healthcare and life sciences, Manufacturing, Retail, and Others. The IT and telecom segments dominate the market in 2022 and will remain the same during the forecast period. Telecoms are leveraging AI and data analytics to benefit from the cloud by improving application security to predict derive, forecast threats, and identify the security coding remediation guidance are the major factors driving the growth of the segment.
Regional Insights:
The North American region held the largest market share accounting for 45%, in 2022 with the rate of internet penetration reaching up to 87%, the United States has become one of the best-connected countries in the world in online business and consumer traction. Increasing cyber-attacks and cybercrimes in the regions are the major key factor driving the growth of the cloud application market. Cyberspace is continually expanding with new and innovative developments like the Internet of Things and Big Data which will add more levels of complexities and security challenges.

The Asia Pacific region is expected to witness significant growth during the forecast period. The fast-growing internet usage service and the rising adoption of BYOD within the enterprises will drive the market growth. Increasing use of mobile and cloud-based technologies and stringent compliance for application security is also contributing to the growth of the Indian application security market.

The objective of another industry presents a comprehensive analysis of the global Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Cloud Application Security Market dynamic, and structure by analyzing the market segments and projecting the Cloud Application Security Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Cloud Application Security Market make the report investor’s guide.
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Cloud Application Security Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 46.65 Bn.


Forecast Period 2023 to 2029 CAGR:
13.8%
Market Size in 2029:
US $ 115.32 Bn.


 Segments Covered:
by Component
Service
Solution


by Application
Banking, Financial Services, and Insurance (BFSI)
Government and defense
IT and telecom
Healthcare and life sciences
Manufacturing
Retail
Others


by Organization size
Small and Medium-sized Enterprises (SMEs)
Large enterprises



Cloud Application Security Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (razil, Argentina Rest of South America)
Key Players:
1. Palo Alto Networks
2. Proofpoint
3. Symantec
4. Bitglass
5. CensorNet
6. CipherCloud
7. Netskope
8. Skyhigh Networks
9. Sophos Ltd.
10. HyTrust, Inc.
11. Twistlock Ltd.
12. McAfee, Inc.
13. Security Fortinet, Inc.
14. Zscaler
15. F5 Networks, Inc.
16. Pulse Secure LLC
17. Qualys, Inc.
18. Trend Micro Inc.
19. Microsoft
20. Oracle

Frequently Asked Questions:

1] What segments are covered in the Global Cloud Application Security Market report?
Ans. The segments covered in the Cloud Application Security Market report are based on Component, Application, and Organization size.

2] Which region is expected to hold the highest share in the Global Cloud Application Security Market?
Ans. The North American region is expected to hold the highest share in the Cloud Application Security Market.

3] What is the market size of the Global Cloud Application Security Market by 2029?
Ans. The market size of the Cloud Application Security Market by 2029 is expected to reach US$ 115.32 Bn.

4] What is the forecast period for the Global Cloud Application Security Market?
Ans. The forecast period for the Cloud Application Security Market is 2023-2029.

5] What was the market size of the Global Cloud Application Security Market in 2022?
Ans. The market size of the Cloud Application Security Market in 2022 was valued at US$ 46.65 bn.