Overview and Scope
Cloud workload protection refers to security measures and practices designed to safeguard the various workloads in cloud environments. It is used to ensure the security, compliance, and resilience of cloud workloads, enabling organizations to leverage the benefits of cloud computing while minimizing security risks.
Sizing and Forecast
The cloud workload protection market size has grown exponentially in recent years. It will grow from $5.92 billion in 2023 to $7.33 billion in 2024 at a compound annual growth rate (CAGR) of 23.9%. The growth in the historic period can be attributed to migration to the cloud, data breaches and cyber-attacks, compliance requirements, complexity of cloud environments, shared responsibility model, increased awareness of security risks.
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Segmentation & Regional Insights
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
North America was the largest region in the cloud workload protection market in 2023. The regions covered in the cloud workload protection market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Rising cybersecurity threats are expected to propel the growth of the cloud workload protection market going forward. Cybersecurity threats refer to malicious activities or events potentially harming digital systems, networks, data, or individuals. This threat arises due to widespread digital technology adoption, the proliferation of IoT devices, and a lack of cybersecurity awareness. Cloud workload protection is used to mitigate cybersecurity threats by providing organizations with the necessary tools and capabilities to maintain a secure and resilient cloud environment, strengthen the security posture, and reduce the risks associated with cloud computing. For instance, in January 2023, according to Check Point Software Technologies Ltd., an Israel-based software company, global cyberattacks soared by 38% in 2022 compared to 2021, with the USA and UK experiencing increases of 57% and 77%, respectively. Therefore, rising cybersecurity threats are driving the growth of the cloud workload protection market.
Key Industry Players
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.
The cloud workload protection market report table of contents includes:
1. Executive Summary
2. Cloud Workload Protection Market Characteristics
3. Cloud Workload Protection Market Trends And Strategies
4. Cloud Workload Protection Market – Macro Economic Scenario
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32. Global Cloud Workload Protection Market Competitive Benchmarking
33. Global Cloud Workload Protection Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cloud Workload Protection Market
35. Cloud Workload Protection Market Future Outlook and Potential Analysis
