The global Cloud Compliance Market size is estimated to be valued at USD 30.0 billion in 2022 and is projected to reach USD 59.1 billion by 2027 during the forecast period, growing at a CAGR of 14.5%. The need to automate compliance among large enterprises is one of the key factors driving the market growth.
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By services, the professional services subsegment is expected to account for the largest market size during the forecast period
The professional services subsegment is expected to account for the largest market share among services. Professional services provided by cloud service providers (CSPs) help organizations accelerate the deployment by following and adopting the best practices. The technicalities in implementing cloud compliance solutions are expected to fuel the demand for professional services.
By cloud model, the IaaS segment is expected to grow at a higher CAGR during the forecast period
The Infrastructure-as-a-Service (SMEs) segment is expected to account for a higher CAGR growth during the forecast period. IaaS provides virtualized computing resources, virtual networking, virtual storage, and virtual machines; and is hosted by cloud computing vendors. The use of IaaS is increasing due to the low upfront costs associated with its deployment. Enterprises do not need to maintain or purchase hardware for the same.
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The key market players dominating the cloud compliance market include Microsoft (US), IBM (US), Check Point (Israel), AT&T (US), Broadcom (US), Qualys (US), Nutanix (US), Sophos (UK), Oracle (US), Palo Alto Networks (US). These players have adopted various strategies, such as new product launches and enhancements, partnerships, collaborations, and acquisitions, to grow in the market.
Microsoft is a global multinational technology corporation producing computer software, consumer electronics, personal computers, and related services. The company develops and supports software, services, devices, and solutions to deliver customer value and help people and businesses know their potential. It also offers cloud-based services, support services, and consulting services to its customers. In the cloud compliance market, it offers Microsoft Defender for Cloud and Microsoft Defender for Cloud Apps. In April 2021, the company announced the acquisition of Nuance. With this acquisition, Microsoft would accelerate its industry cloud security strategy for healthcare.
Check Point is a provider of cybersecurity solutions to enterprises and governments globally. Check Point’s industry-leading solutions ensure protection against fifth-generation cyberattacks. Its comprehensive security management system offers “Infinity Total Protection with Gen V advanced threat prevention,” a multilevel security architecture for cloud, network, and mobile devices. Check Point provides cybersecurity solutions to industry verticals, such as retail, financial services, government, healthcare, Industrial Control Systems (ICS), telecommunication, and education. Its cloud compliance offerings include CloudGuard for Cloud Security Posture Management, CloudGuard for Workload Protection, and CloudGuard for Cloud Native Security. In February 2022, Check Point acquired Spectral to advance CloudGuard with a developer-first security platform and provide the widest range of cloud application security.
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