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Pandemic Triggers Revised Global Cloud Security Marketplace Estimates

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The Covid-19 pandemic significantly impacted the global cloud security marketplace, and considerable growth is predicted, according to a new report from Global Industry Analysts Inc. (GIA).

The report, "Cloud Security - Global Market Trajectory & Analytics," revises the previous estimate of $7 billion to $15 billion global market growth by 2026. That estimate amounts to a compound annual growth rate (CAGR) of 13.3% over the seven-year analysis period.

GIA’s report notes that Cloud IAM (Identity and Access Management) projects a record 14.2% CAGR and could reach $8.3 billion by 2026. Growth in the Cloud Email Security segment is readjusted to a revised 13.5% CAGR.

Amid growing demand for cloud security services, more than 40% of MSSPs now offer Cloud Security Posture Management (CSPM) solutions to help customers properly configure and maintain Amazon Web Services, Microsoft Azure and/or Google Cloud Platform, according to MSSP Alert.

Geographic Growth Projected

GIA offers a further breakdown of cloud security growth for specific geographic markets:

  • China projects a market size of $2.6 billion by 2026, a growth rate of12.8%.
  • Japan and Canada are forecast to grow at 11.7% and 11.3%, respectively
  • Germany is forecast to grow at approximately 9.7% CAGR.

Cloud IDS/IPS Segment to Reach $2.6 Billion by 2026

In the global Cloud IDS/IPS segment, the US, Canada, Japan, China and Europe will drive 12% CAGR, the GIA report said. These regional markets account for a combined market size of $1 billion, and will reach a projected size of $2.3 billion by 2026. China will remain among the fastest growing in this cluster of regional markets.

Jim Masters

Jim Masters is Managing Editor of MSSP Alert, and holds a B.A. degree in Journalism from Northern Illinois University. His career has spanned governmental and investigative reporting for daily newspapers in the Northwest Indiana Region and 16 years in a global internal communications role for a Fortune 500 professional services company. Additionally, he is co-owner of the Lake County Corn Dogs minor league baseball franchise, located in Crown Point, Indiana. In his spare time, he enjoys writing and recording his own music, oil painting, biking, volleyball, golf and cheering on the Corn Dogs.