Further, network security cloud assurance market is growing on the back of increasing prevalence of network security threats across the globe. Moreover, positive growth of IT industry all over the globe is also believed to flourish the growth of cloud assurance market.
Global cloud assurance market is expected to register a 17.12% CAGR over the forecast period. Moreover, the global cloud assurance market reached USD 3.55 Billion in 2013 and is anticipated to expand at exponential revenue globally by 2023. The market is expected to expand on the back of increasing adoption of cloud assurance by various enterprises to protect their systems.
IAM (identity and access management) is believed to witness a considerable CAGR during the forecast period. In terms of regional platform, North America region captured the biggest revenue share in cloud assurance market in 2015 and it is expected to maintain its dominance over the forecast period aided by U.S. Further, rapid urbanization coupled with robust growth in IT sector is projected to flourish the growth of North America cloud assurance market. Apart from this, Asia-Pacific region is predicted to be the fastest growing market of cloud assurance by the end of 2023 due to increasing presence of big IT companies in the region.
Growing concerns for data security
Expansion and diversification of numerous organizations in terms of product portfolio and workforce all over the globe coupled with increasing concern for data security is believed to be the dynamic factor behind the rapid growth of cloud assurance market. Furthermore, increasing incidences regarding security threats for data mishandling and frauds for intellectual and financial gains is one of the major factor bolstering the market of cloud assurance.
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Advancement in network security solutions
Rising penetration of business and increasing data due to robust expansion of IT hubs across the globe have augmented the demand for data handling systems in enterprises which is likely to supplement the growth of cloud assurance market. Moreover, wide availability of IT expertise and professionals across the globe along with increasing research and development in IT companies to develop effective and user friendly software are the key factors predicted to drive the market of cloud assurance over the forecast period.
On the contrary, high cost associated with cloud assurance service and solutions is projected to hamper the growth of global cloud assurance market by 2023.
The report titled “Cloud Assurance Market: Global Demand Analysis & Opportunity Outlook 2023” delivers detailed overview of the global cloud assurance market in terms of market segmentation by security type, by solution type, by service type, by industry, by end-user and by region.
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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 key players of the global cloud assurance market which includes company profiling of IBM Corporation, CA Technologies, Microsoft Corporation, Cisco System Inc., Hewlett Packard, Dell Technologies, Voltage Security and McAfee Security Systems. 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 of 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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