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Cloud Network Security Market Size
- Report ID: GMI7229
- Published Date: Jul 2024
- Report Format: PDF
Cloud Network Security Market Size
Cloud Network Security Market size was valued at USD 6.4 billion in 2023 and is estimated to register a CAGR of over 13% between 2024 and 2032. Advancements in organization network infrastructure fueling the market growth. As cloud adoption grows, the need for robust security solutions intensifies. Innovations, such as artificial intelligence and machine learning, enable more sophisticated threat detection & response.
For instance, in October 2023, Darktrace launched Darktrace/Cloud, a cybersecurity solution leveraging self-learning AI. It offers visibility into cloud structures, real-time cloud threat detection, and actionable insights for misconfiguration management & compliance. When integrated with other Darktrace products, it enhances the understanding and contextualization of an organization's digital risk landscape, thereby bolstering security across the board.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Cloud Network Security Market Size in 2023: | USD 6.4 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 13% |
| 2032 Value Projection: | USD 19.3 Billion |
| Historical Data for: | 2018 - 2023 |
| No. of Pages: | 250 |
| Tables, Charts & Figures: | 340 |
| Segments covered: | Security Type, Organization Size, Deployment Model, End-user |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The rising demand for cloud network security among Small & Medium-sized Enterprises (SME) is fueling the cloud network security market growth. SME are increasingly relying on cloud-based services for cost-effective scalability. The adoption of cloud-based services is also leading to heightened security concerns. SME are seeking robust security solutions that are tailored to their needs, thereby spurring innovation and competition in the cloud security sector.
For instance, in October 2023, Arete introduced a cloud security solution designed for Small & Medium-sized Businesses (SMBs). This offering aims to proactively prevent, detect, and respond to cyber threats, providing these businesses with essential protection & incident response capabilities to safeguard their digital assets and data.
The rapid evolution of cloud technologies presents a challenge in the market. New cloud professional services, architectures, and configurations emerge frequently, making it difficult to keep pace with potential security vulnerabilities. Security solutions must adapt rapidly to these changes to remain effective. Moreover, diverse cloud environments, multi-cloud deployments, and hybrid setups demand comprehensive protection, further complicating security management. The challenge lies in developing security strategies that are agile & scalable to address this dynamic landscape effectively.
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Cloud Network Security Market Scope
