The cloud workload protection market is projected to register a CAGR of 21.90% from 2020 to 2030. The cloud workload protection market size is expected to reach approximately USD 26.4 billion by 2030.
Growing Adoption of Multi-Cloud Strategy
As organizational security requirements expand, there is a growing need to combine cloud workload protection platform capabilities with that of cloud security posture management systems, which focus on assessing cloud security and compliance. The adoption of a multi-cloud strategy has increased the requirement for cloud workload protection. Multi-cloud environments provide cost and efficiency benefits but also make the management process more complex. This has accelerated market expansion.
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High Demand for Protected Data and Programmed Functionalities and Control of Unofficial and Unidentified Workloads
With the rise of big data in industries, there is a strong demand for security platforms, which is expected to fuel market expansion. Cloud workload protection (CWP) enables businesses to secure important workloads in the cloud. It automates workload security by enabling detection, visibility, and prevention against advanced threats. CWP provides powerful cloud workload protection, including real-time anti-malware scanning with industry-leading technologies and unique application isolation. This aids in the prevention of exploits targeting known and new vulnerabilities, which are expected to fuel global cloud workload protection market growth.
Market Segmentation
The global cloud workload protection industry has been segmented based on component, organization size, deployment, and vertical.
Based on components, the global cloud workload protection market has been divided into solutions and services. The solutions segment has been segmented into vulnerability assessment, monitoring and logging, policy and compliance management, threat detection and incident response, and others. The services segment has been segmented into support and maintenance, training, consulting and integration, and managed services.
Based on organization size, the worldwide cloud workload protection market has been divided into small- and medium-sized enterprises (SME) and large enterprises.
By deployment model, the worldwide cloud workload protection market has been divided into public cloud, private cloud, and hybrid cloud.
On the basis of vertical, the worldwide cloud workload protection market has been divided into IT and telecommunication, financial services, and insurance (BFSI), banking, government and public sector, healthcare and life sciences, energy and utilities, media and entertainment, retail, and consumer goods, manufacturing and others.
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Regional Analysis
North America to Dominate the Global Market
North America dominated the global cloud workload protection market share, owing to organizations using cloud workload protection solutions for security concerns, as well as the region's rising adoption of a multi-cloud strategy. The United States dominates the market in North America since it is the most technologically advanced country with the widespread use of cloud technology.
APAC to Witness the Fastest Growth
Due to the growing requirement to prevent cyber-attacks, Asia Pacific is expected to be the fastest-growing market throughout the review period. Along with this, organizations are focusing on lowering enterprise costs while preserving enterprise performance. These cloud workload protection solutions and services boost agility and performance while also managing and delivering multi-cloud services.
Key Players
Trend Micro Incorporated (Japan), McAfee Inc. (US), Symantec Corporation (US), Sophos Ltd (UK), Guardicore (Israel), CLOUDPASSAGE (US), DOME9 SECURITY INC. (Israel), HYTRUST INC. (US), LogRhythm Inc. (US), Tripwire (US), Kaspersky (Russia), Google (US), Qualys Inc. (US), Nutanix (US), Akamai Technologies (US).
Industry News
In August 2019, McAfee acquired NanoSec to improve its market-leading capabilities in cloud security. This is expected to drive the cloud workload protection market.
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