2014-04-17 07:01:04 - Global Cloud Security Software Market 2012-2016 - a new market research report on companiesandmarkets.com
The Global Cloud Security Software market is to grow at a CAGR of 49.4 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing usage of cloud services for critical data storage. The Global Cloud Security Software market has also been witnessing an increasing number of partnerships between cloud service providers and security solution providers. However, the availability of open source security software could pose a challenge to the growth of this market.
In the future years, as the market tends towards maturity, cloud security could become an integral part of cloud services. Hence, CSPs will be compelled to provide cloud security along with cloud services. In addition, it is also expected that
CSPs will enter into partnerships with security solution providers for value-added security services that will work as differentiators in cloud adoption. The increasing frequency of cloud-specific attacks will give rise to further value-added security. Thus, over a period of time, cloud security is expected to become a major buying criterion for customers. This will lead to an increase in the number of partnerships among CSPs and security solution providers. For instance, Trend Micro entered into a global alliance with cloud and virtualization service provider VMware in 2010. Similarly, Cloud.com, a provider of open source cloud computing solutions, entered into a partnership with Symplified, a cloud security company, in 2011, to provide service providers with SSO capabilities.
The major drivers in this market are the increasing usage of cloud services for critical data storage and the sudden increase in cloud service-specific attacks. Driven by multiple factors such as flexibility, cost savings, and easy availability, an increasing number of companies are transferring their data to the cloud. However, this is also exposing these companies to various risks associated with cloud computing.
One of the major challenges is the availability of open source security software. With the growing need for cloud security, many companies are introducing open source software that is available at a lower cost for the end-users. This is affecting the revenue generated by the leading cloud security software providers, thereby having a negative impact on the overall market revenue.
The key vendors dominating this space include CA Technologies Inc., McAfee Inc./Intel Corp., Symantec Corp., Symplified Inc., and Trend Micro Inc.
The other vendors mentioned are Awareness Technologies Inc., CipherCloud Inc., CloudPassage Inc., Commtouch Software Ltd., CREDANT Technologies Inc., Dome9 Security Ltd., HyTrust Inc., IBM Corp., Novell Inc., Okta Inc., Panda Security S.L., ProofPoint Inc., SafeNet Inc., SecureAuth Corp., ThreatMetrix Inc., Vyatta Inc., WhiteHat Security Inc., and Zscaler Inc.
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