Multi-Cloud Security Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company’s Multi-Cloud Security Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UK, June 24, 2024 /EINPresswire.com/ — The multi-cloud security market has witnessed substantial growth, expanding from $5.82 billion in 2023 to $7.04 billion in 2024, marking a notable CAGR of 20.9%. It will grow to $15.23 billion in 2028 at a compound annual growth rate (CAGR) of 21.3%. This growth is primarily driven by the increasing adoption of cloud services, rising cybersecurity threats, regulatory compliance requirements, and the complexity of managing multi-cloud environments.
Rising Sophistication of Cyber Threats Drives Market Growth
The exponential growth of the multi-cloud security market is projected to continue, reaching $15.23 billion by 2028 with a CAGR of 21.3%. Factors contributing to this surge include the growing sophistication of cyber threats, the expansion of hybrid and multi-cloud architectures, the rise of edge computing, and the emphasis on zero trust security frameworks.
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Key Players and Market Trends
Major companies such as Amazon.com Inc., Alphabet Inc., and Microsoft Corporation dominate the multi-cloud security market landscape. These players are focusing on developing advanced cloud-native security solutions and integrating artificial intelligence (AI) and machine learning (ML) for enhanced threat detection and response capabilities.
In January 2023, Skyhawk Security introduced the synthesis CDR platform, aimed at improving cloud security by reducing alert fatigue and enhancing detection and response capabilities across multi-cloud environments. This platform utilizes real-time threat identification through the analysis of correlated runtime events, offering essential features like cloud infrastructure entitlement management (CIEM) and advanced cloud security posture management (CSPM).
Major Segments of the Multi-Cloud Security Market
Offering:
• Solutions
• Services
Deployment Mode:
• Public Cloud
• Private Cloud
• Hybrid Cloud
Organization Size:
• Small And Medium Enterprises (SMEs)
• Large Enterprises
End User:
• Banking, Financial Services, And Insurance (BFSI)
• Healthcare
• Information Technology And Telecommunication
• Retail And E-Commerce
• Government
• Other End-Users
Geographical Insights: North America Leads, Asia-Pacific to Witness Fastest Growth
North America dominated the multi-cloud security market in 2023, driven by extensive adoption of cloud technologies and stringent data protection regulations. Meanwhile, Asia-Pacific is anticipated to emerge as the fastest-growing region, fueled by increasing investments in cloud infrastructure and cybersecurity measures.
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Multi-Cloud Security Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Multi-Cloud Security Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on multi-cloud security market size, multi-cloud security market drivers and trends, multi-cloud security market major players, competitors’ revenues, market positioning, and market growth across geographies. The multi-cloud security market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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