Factors, such as the increasing adoption of multi-cloud strategy among enterprises, and centralized policy enforcement, are expected to drive the cloud workload protection market growth.
The cloud workload protection market size is expected to grow from USD 2.25 billion in 2018 to USD 6.70 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 24.4% during the forecast period. Some of the key drivers for the market growth are the dire need to fortify enterprise workloads against unauthorized strikes and benefits achieved through seamless scalability. However, limited technical expertise to handle complex and distributed cloud workloads may hinder the market growth.
The policy and compliance management segment is expected to have the fastest growth rate during the forecast period.
The policy and compliance management segment is expected to grow at the highest CAGR during the forecast period. The fastest growth of this segment is due to benefits offered, such as efficient segmentation of workloads along with compliance adherence, and efficient policy management that enables the segmentation requirements for compliance with various regulations.
The public cloud segment is expected to have the largest market share during the forecast period.
Among the deployment models, the public cloud segment is expected to grow at the fastest rate during the forecast period, due to the growing adoption of public cloud services, increasing confidence in public cloud security, and the benefit of runtime scalability.
Asia Pacific is expected to grow at the highest CAGR during the forecast period.
Asia Pacific (APAC) is projected to be the fastest-growing region in terms of CAGR. Growing awareness about benefits of cloud services, advantages offered by the pay-as-you-go model, increased cloud security initiatives by governments, and digital transformation within enterprises are some of the key reasons that have led the APAC region to become a highly potential market.
The breakup of the profiles of the primary participants is given below:
• By Company: Tier 1 Companies – 29%, Tier 2 Companies – 39%, and Tier 3 Companies – 32%
• By Designation: C-Level – 28%, Director Level – 39%, and Others – 33%
• By Region: North America – 41%, Europe – 32%, APAC – 16%, and RoW – 11%
The key providers in the cloud workload protection market are:
11. Trend Micro(Japan)
The cloud workload protection market has been segmented on the basis of solutions, services, deployment models, organization size, verticals, and regions. A detailed analysis of the key industry players has been done to provide key insights into their business overview, products and services, key strategies, new product launches, partnerships, agreements, collaborations, business expansions, and the competitive landscape associated with the cloud workload protection market.
The report is expected to help the market leaders/new entrants in the following ways:
• This report segments the cloud workload protection market comprehensively and provides the closest approximations to revenue numbers for the overall market and subsegments.
• This report helps stakeholders understand the pulse of the market and provides the information on the key market drivers, restraints, challenges, and opportunities.
• This report helps stakeholders better understand their competitors and gain more insights to enhance their position in the market. The competitive landscape section includes the competitor ecosystem, new product developments, partnerships, and mergers and acquisitions in the cloud workload protection market.