The Dawn of virtual security risks and the Cloud Mitigation Services Market

Global Cloud Mitigation Securities Market was valued at USD 35.0 Billion in 2020 is expected to reach USD 71.0 Billion by 2027, growing at a CAGR of 15.2% during the forecast period, 2021–2027.

Cloud mitigation is a set of tools used to protect soft targets of cybercrimes, threats and attacks. Cloud mitigation services help to offer protection, solutions and services to software vendors, government organizations and other companies. The increased use of the Internet and bandwidth networking, excess use of wireless networks and smartphones have also increased the risk of sensitive data being affected and vulnerable. Hence it has become essential to make cybersecurity solutions a stringent measure in protecting organizations from future threats and attacks. According to a report by Gemalto in 2018, India is said to account for 40% of the global data breaches.

The factors such as the need to protect targeted cloud attacks, rising demand from vendors for cost effective products, are expected to increase the growth of the cloud mitigation services market. Acceptance and awareness of products of Cloud Mitigation Services are another factor which will help in boosting the cloud mitigation services market.

Restraints in the cloud mitigation services market include high cost of products of the products and high maintenance of products. However rising demand from vendors and end user industries are set to be seen as opportunities for the cloud mitigation services market. Post Covid Impact has also impacted the cloud mitigation services market in a positive way owing to the rising trends of work from home and remote working. More digital devices are being used to work and hence sensitive data exposed is higher.

The North American region is expected to lead the global cloud mitigation services market during the forecast period. Presence of major key players in the region such as Microsoft, Amazon and Google among others have risen the scope of innovation and technological development. U.S. and Canada, are likely to grow at fast rate during the forecast period owing to rising adoption of Cloud Mitigation Services. Many governmental and regulatory bodies in the region are creating a balance between technological innovation and risk management. Strong regulatory measures are being taken to prevent cyber-attacks. For instance, New York passed the Shield Act at state level in 2019 to improve electronic data security.

Cloud Mitigation Services Market Report Highlights.

  • Based on End User Industry, the BFSI segment is projected to witness high growth rate during the forecast period.
  • The Cloud Mitigation Services market by component has been segmented into hardware, software and services. The hardware segment is said to record the highest share during the forecast period.
  • The hybrid deployment type is set to grow at the highest CAGR during the forecast period.
  • By organisation, large enterprises accounted for the highest share of the cloud mitigation services market in 2020.

Recent News

  • In 2020, Zerto, which offers recovery and protection of data across cloud environments, raised USD 35 million in equity financing. Zerto is set to acquire HPE.
  • In 2019, Link11, offered solutions to Germanys Cologne Broadcasting Center, a broadcast company, which has expanded Link11s business operations.
  • In 2019, Huawei entered into a partnership with Infosys, in which the Infosys is set to join Huawei Cloud Partner Network. The aim of this partnership is to develop new cloud solutions in order to help organizations to fast-track digital transformation.

The Global Cloud Mitigation Services Market Segmentation:

By Component

  1. Hardware
  2. Software
  3. Services
    • Professional Service
    • Managed Service

By Application

  1. Network
  2. Application
  3. Database
  4. Endpoint

By Deployment Mode

  1. Cloud
  2. On premise
  3. Hybrid

By Organization Size

  1. SMEs
  2. Large Enterprises

By End user industry

  1. Government and Defense
  2. BFSI
  3. IT and Telecommunication
  4. Healthcare
  5. Retail
  6. Media
  7. Entertainment
  8. Others

By Region

  1. North America
  2. Europe
  3. Asia Pacific
  4. Latin America
  5. Middle East & Africa

Company Profiles and Competitive Intelligence

The key players operating in the Global Cloud Mitigation Service Market are:

  • Arbor Networks Inc.
  • Akamai Technologies Inc.
  •  F5 Networks
  •  Imperva Inc.
  • Radware Ltd.
  • Corero Network Security Inc.
  •  Neustar Inc.
  •  Cloudflare Inc.
  •  Nexusguard Ltd.
  •  DOSarrest Internet Security Ltd.

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