Cloud Security Software, as the name suggests, provides security to cloud-based services or cloud computing architectures. Cloud security software focuses on the security of key parameters such as compliance, governance, data protection, architecture, and identity and access. A typical cloud security solution can be a standalone product or a suite of products, and offers features such as encryption, identity and access management (IAM), endpoint monitoring, vulnerability scanning, intrusion detection, and application and messaging security.
Trend Micro, the global cloud security leader, is the major player leading the fast-growing Global Cloud Security Software market, according to TechNavio’s Global Cloud Security Software Market report. This report covers the Cloud Security Software market in the Americas; the Europe, Middle East and Africa (EMEA) region; and the Asia Pacific (APAC) region. Trend Micro is followed by McAfee and CA Technologies.
This acclaim follows the recent recognition by IDC, in their “Worldwide Endpoint Security 2011-2015 Forecast and 2010 Vendor Shares” report that position Trend Micro as the leader in corporate endpoint server security and the leader in worldwide virtualization security management market.
Valued at $241 million in 2010, the overall estimate for the global cloud security software market is forecasted by TechNavio to reach $963 million in 2014, growing at a CAGR of 41.4%. The TechNavio report reasons out that Trend Micro dominates the market because because of its diversified geographic reach, established customer base, and brand reputation.
Currently, the adoption rate of cloud security is low and it is estimated that only 35 percent of the enterprises migrating to cloud services consider cloud security to be a top priority. The Global Cloud Security Software market is a miniscule part of the Global IT Security market and accounted for only about 2 percent in 2010, which is expected to double by 2014, as per the TechNavio analysis.
Though the Global Cloud Security Software market is registering strong growth from all geographic regions, it is still niche and small. Further, despite the Cloud-based Security Solutions (SaaS-based security solutions) market being of considerable size, the Security Solutions market that is dedicated toward a cloud computing environment is small. However, cloud adoption is expected to get a boost by 2012–2013, and an increasing adoption of cloud services for critical data storage and the sudden increase in cloud-specific attacks is expected to provide a stimulus to the Cloud Security Software market.