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Companies in the cloud workload protection market are bolstering their presence through strategies such as acquisitions to expand their service portfolios, enhancing AI and machine learning capabilities for threat detection, forming strategic partnerships to broaden market reach, and ensuring compliance with evolving data security regulations to build trust with clients.
The market size of cloud workload protection reached USD 5.1 billion in 2022 and is set to expand at 24.5% CAGR from 2023 to 2032, due to the rising incidences of cybersecurity threats and the increasing reliance on cloud, cyber threat protections worldwide.
The solutions segment registered over USD 3.5 billion in 2022, attributed to the escalating cloud adoption and evolving cybersecurity landscape.
Sonrai Security, Orca Security, Fortinet, Inc., Amazon Web Services, Inc. (Dominates), Cisco Systems, Inc., Musarubra US LLC, Microsoft (Dominates), Trend Micro Incorporated, VMware, Inc., and Sophos Ltd. are some of the major cloud workload protection companies worldwide.
North America held over 33% of the market share in 2022, owing to the presence of robust and rapidly expanding cloud computing ecosystem in the region.