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Cloud assurance market demand to grow at a CAGR of 17.12% by 2016-2023 globally

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Global Cloud Assurance Market is majorly driven by the rising concern towards data security and efficient tools offered by cloud assurance service/solution providers, according to our research report “Global Cloud Assurance Market Outlook 2023”.

The global cloud assurance market is segmented into network security, content security, end-point security, wireless security, application security on the basis of security type. Among these deliveries, network security market is expected to be the fastest growing market in security segment owing to rising concern towards secure networks to minimize the loss from frauds and breaches.

The global cloud assurance market reached USD 3.55 Billion in 2013 and the market is expected to flourish over the forecast period i.e. 2016-2023. The market is anticipated to register a CAGR of 17.12% during the forecast period 2016-2023 globally.

North America has accounted the largest revenue share in cloud assurance market in 2014 and it is expected to maintain its dominance in the market of cloud assurance across the globe over the forecast period 2015-2023.

European region is expected to be the second largest share contributor in terms of revenue across the globe over the forecast period i.e. 2016-2023. The demand for cloud assurance is expected to rise on the back of rise in IT sector and growing awareness towards cutback of frauds and breaches.

Rising Concerns towards data Security: Safekeeping

There is a need for security of data and systematic handling of data in order to increase the efficiency as well as to minimize the losses from leakage of data by opting the cloud assurance services and solution.

Increasing incidents related to security threats for data mishandling and security breaches for intellectual and financial gains. These factors can significantly affect the business and its position in long term. To minimize the threats and to keep data secure, business players are shifting towards cloud assurance.  

Efficient tools and solutions:

Rising penetration of business and increasing data due to drastic increase in IT hubs across the globe, there is a need for data handling systems which are much secure with efficient tools. The adoption of cloud services by many enterprises are expected to spur the demand for cloud assurance services and solutions in order to maintain their data systematically and secure. 

Apart from this, high cost of cloud assurance services and solutions, presence of international key players with high cost services are expected to hinder the growth of cloud assurance market across the globe over the forecast period i.e. 2015-2023.

The report titledGlobal Cloud Assurance Market Outlook 2023” delivers detailed overview of the Global Cloud Assurance Market in terms of market segmentation by Security, by Services, by Solution, by Industry, by End-user.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

This report also provides the existing competitive scenario of some of the service providers of the Global Cloud Assurance Market which includes company profiling of IBM Corporation, Wipro, CA Technologies, Microsoft Corporation, McAfee Security Systems, etc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview on the Global Cloud Assurance Market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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