What Fueled The Previous Growth In The Cloud Workload Protection Market?
The cloud workload protection market has seen considerable growth due to a variety of factors.
• The industry size for cloud workload protection has seen significant expansion recently. The market, currently valued at $7.33 billion in 2024, is anticipated to hit $9 billion by 2025 thanks to a compound annual growth rate (CAGR) of 22.8%.
This considerable growth in the past years is linked to factors such as the shift towards cloud, incidents of data violation and cyber-attacks, compliance needs, the complexity of cloud landscapes, the shared responsibility model, along with a heightened consciousness of security threats.
How Does the Forecast Look for the Cloud Workload Protection Market?
The cloud workload protection market is expected to maintain its strong growth trajectory in upcoming years.
• The forecasted expansion of the cloud workload protection market size is anticipated to be considerable in the coming years. It is predicted to reach a value of $20.8 billion by 2029, with a compound annual growth rate (CAGR) of 23.3%.
This anticipated growth during the forecast period is due to a surge in cloud adoption, an increase in hybrid and multi-cloud deployments, a focus on zero trust security, the fast-paced development of containers and serverless computing, and advancements in threat intelligence and analytics. During the forecast period, major trends include the adoption of zero trust architecture, the intersection of cloud security solutions, an emphasis on threat and response, a transition to cloud-native security, and the automation and orchestration.
What Are The Leading Drivers Of Growth In The Cloud Workload Protection Market?
The escalating risks presented by cybersecurity threats are projected to fuel the dynamism of the cloud workload protection market. These threats symbolize malicious activities or incidents that could jeopardize digital systems, networks, data, or users. The foundation for these threats is the widespread utilization of digital technology, the growing ubiquity of IoT gadgets, and a discernible shortfall in cybersecurity knowledge. Cloud workload protection serves to counter these cybersecurity threats by furnishing organizations with the vital tools and capabilities needed to uphold a secure and fortified cloud environment, ameliorate the security stance, and diminish risks related to cloud computing. For example, Check Point Software Technologies Ltd., an Israel-based software corporation, stated in January 2023 that global cyberattacks escalated by 38% in 2022, relative to 2021, with surge rates in the USA and the UK reaching 57% and 77%, respectively. As such, the escalating cybersecurity threats are galvanizing the expansion of the cloud workload protection market.
How Are The Segments Defined Within The Global Cloud Workload Protection Market?
The cloud workload protection market covered in this report is segmented –
1) By Type: Training, Consulting And Integration, Support And Maintenance, Managed Services
2) By Component: Compliance Management, Vulnerability Assessment, Runtime Security, Threat Detection And Response, Monitoring, Other Components
3) By Deployment: Public Cloud, Private Cloud, Hybrid Cloud
4) By End-User: Banking, Financial Services And Insurance (BFSI), Information Technology And Telecom, Government, Health Care, Manufacturing, Energy And Utilities, Retail, Others End Users
Subsegments:
1) By Training: Employee Training Programs, Certification Courses, Awareness Workshops
2) By Consulting And Integration: Security Assessment Services, Strategy Development, Implementation And Integration Services
3) By Support And Maintenance: Technical Support Services, Regular Updates And Upgrades, Incident Response Services
4) By Managed Services: Managed Security Services, Continuous Monitoring Services, Threat Detection And Response Services
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How Are Emerging Trends Reshaping The Dynamics Of The Cloud Workload Protection Market?
Major players in the cloud workload protection market, such as Uptycs Inc., are prioritizing the development of unique solutions including channel partner programs, to amplify their delivery of cloud security services. Channel partner programs are beneficial to businesses seeking collaboration with adept partners to deliver powerful security measures aimed at protecting their remote and hybrid work forces from online threats. A clear example of this would be Uptycs' launch of Upward, a dedicated channel partner program in February 2024. The program is designed to boost the company’s strategy of depending on channels for providing cloud security services, with the key goal of establishing a comprehensive cloud-native application protection platform (CNAPP) for hybrid cloud environments safety. The effect of this is that it provides the opportunity for partners to assist businesses in securing crucial workloads across different infrastructures including cloud as well as on-premises environments. Profits associated with the program include deal registration, market development funds and enhanced services, which enable partners to swiftly implement Uptycs' security measures, addressing the ever-changing requirements of hybrid cloud security in the process.
Who Are the Key Players In The Cloud Workload Protection Market?
Major companies operating in the cloud workload protection market are:
• Google LLC
• Microsoft Corporation
• Amazon Web Services Inc.
• International Business Machines Corporation (IBM)
• Broadcom Inc.
• VMware Inc.
• Palo Alto Networks Inc.
• Fortinet Inc.
• Akamai Technologies Inc.
• Check Point Software Technologies Ltd.
• McAfee LLC
• Trend Micro Incorporated
• CrowdStrike Holdings Inc.
• Zscaler Inc.
• Sophos Group plc
• FireEye Inc.
• Rapid7 Inc.
• CyberArk Software Ltd.
• Qualys Inc.
• SentinelOne Inc.
• Carbon Black Inc.
• Aqua security softeware ltd
• Armor Defense Inc.
• Netskope Inc.
• Guardicore Ltd.
What Is The Most Dominant Region In The Cloud Workload Protection Market?
North America was the largest region in the cloud workload protection market in 2024. The regions covered in the cloud workload protection market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
