In 2021, the cloud workload protection market will generate USD 2,918.0 Million in sales. The cloud workload protection market is anticipated to reach USD 25,868.9 Million by 2032, increasing at a 22.1% CAGR between 2022 and 2032, supported by:
During the COVID-19 crisis, the banking and industrial industries are driving the expansion of the cloud workload protection platform (CWPP) industry. Vendors are boosting their efforts to integrate the bare metal hypervisor in order to provide better visibility to users and assist virtual machine management. However, when it comes to cloud workload security, Linux threats are little documented and poorly understood.
As a result, businesses should enhance their efforts to integrate security mechanisms with diverse technological capabilities by increasing their R&D activities. Developers and engineers are becoming more involved in security procedures in order to accommodate varied runtime settings through automation with lightweight agents that do not possibly damage cloud infrastructure or application performance.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2022 | USD 3,526.9 Million |
| Projected Market Value in 2032 | USD 25,868.9 Million |
| Growth Rate (2022-2032) | 22.1% CAGR |
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North America is expected to dominate the cloud workload protection market. The area is home to leading cloud providers like as Microsoft Corporation and Amazon Web Services, which are constantly improving their cloud solutions and growing their client base. According to IBM, corporate adoption of managed cloud infrastructure services in the United States is expected to reach 68% in 2020, up from 34% in 2018.
Organizations in the area are transitioning away from the public cloud and into a new age of hybrid IT, which blends public cloud, private cloud, and conventional IT. These firms are employing a hybrid cloud approach to help them improve their company and provide services to clients, hence boosting market demand.
The BFSI industry segment is expected to increase at a CAGR of 19.1% over the projection period. With the fast rise of cloud footprint in the last 18 months, banks are progressively implementing cloud security. Approximately 58% of a bank's workloads are being transferred to the cloud. As a result, the BFSI industry is emphasising workload protection to support essential cloud workloads and avoid malware, lateral attacks, and other dangers.
Issues about ransomware attacks and cloud security threats, as well as dangers connected with remote work and cybersecurity concerns related to social engineering, are driving up market demand for cloud workload protection. Furthermore, the financial sector's spike in need for digital transformation is propelling the industry from a cloud-averse to a cloud-first paradigm, creating demand for cloud security solutions.
Cloud workload protection market currently represents around 7.1% sales of the total cloud security market. Adoption of cloud workload protection solutions have gained traction over the years owing to the significant shift in business priorities.
This has led to increased adoption of multi cloud strategies, which empower organizations to distribute the cloud workloads and containers across multiple cloud environments. Adoption of multi-cloud infrastructure solutions is surging the cloud workload protection market demand.
As it maintains hybrid cloud environments secure while maintaining cost efficiency, the demand is expected to nearly double over the coming decade. Implementation of multi-cloud strategies in organizations offers cloud VMs, low latency, workload configuration, optimization in ROI and security focused cloud workloads.
Some of the key factor facilitating the adoption of multiple cloud strategies across cloud environments include robust risk management services, network performance improvements network and risk mitigation offered by multi-cloud solution providers.
Principal Consultant
The cloud workload protection market is estimated to grow at 22.1% CAGR between 2022 and 2032 in comparison with 20.4% CAGR during 2017-2021, opines Future Market Insights (FMI). Following the outbreak of COVID-19, the adoption of cloud solutions increased at an exponential rate through 2021.
Another factor improving the adoption of cloud workload protection solutions is the growing need for cloud security solutions for cloud workloads moving across multiple cloud environments.
The adoption of workload protection platforms assists in incorporating security into devOps practices for the organization and eliminates unnecessary complexities. Cloud workload protection platforms provides clear visibility into the cloud environments and offer faster, accurate threat detection.
The complexities of cloud environments have increased with the expansion of cloud applications in almost every organization worldwide. Since different risks are carried by different applications, managing cloud security for multiple clients by service providers becomes complex. Hence, cloud protection plays a vital role in securing and simplifying of workloads moving across multiple cloud environments.
Also, the use of various endpoints and devices while utilizing cloud networks is becoming difficult to manage without centralized management. And thus, centralization in management of endpoints and devices results in improved traffic analysis of networks, web filtering and ease in execution of recovery plans.
Hence, the rising demand for robust security solutions to satisfy the frequency and speed requirements of cloud deployments is surging workload protection demand.
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South Asia & Pacific region is estimated to be the fastest growing region in the cloud encryption market and is expected to grow by 11.1X during the forecast period (2022 to 2032). Increasing adoption of cloud technologies supported by economic growth in the developing countries. This is fueling the demand for cloud workload protection solutions in South Asia & Pacific.
As companies in South Asia & Pacific region continue to expand their digital footprint, the obstacles arising from an infrastructure perspective have been addressed with the adoption of cloud computing. This has led to the increased demand for identification of different cloud workloads in organizations with emphasis on consumer data protection.
Integration of Cloud Computing in Organizations to Boost the USA Cloud Workload Protection Market
The cloud workload protection market in the USA is expected to account for nearly 81.2% of North America market share in 2022. With the advent of cloud computing, the USA is witnessing exponential growth in the cloud market owing to its benefits such as scalability, and cost effectiveness.
Demand in the market is also predicted to burgeon with the presence of multiple cloud market organizations, advanced IT infrastructure, and availability of technological resources.
Furthermore, the availability of technical expertise, rapid advancement and quick deployment of emerging technologies will boost the market.
Growing Adoption of Public Cloud and Infrastructure Services to Push Cloud Workload Protection Solutions Demand
East Asia is predicted to remain one of the most attractive markets during the forecast period. According to Future Market Insights, China is estimated to grow by 7.8X during the forecast period.
Digital transformation, rising adoption of public cloud and infrastructure services in China is fueling the growth of the cloud workload protection market. Growing expansion of the services market is fueling the growth and presence of key players, including Alibaba, Tencent, Huawei Technologies and more.
Furthermore, with cybersecurity and data privacy requirements, including national standards and government initiatives for digital transformation is adding to the market demand.
Rising Cyber Attacks Incidence to Facilitate Cloud Workload Protection Solutions Adoption
According to the study, India is estimated to grow by 13.2X during the forecast period. India has been experiencing growth in the adoption of digital technologies since the global pandemic. Growing adoption of cloud services has also impacted the cybersecurity landscape resulting a spike in the number of cyberattacks across the country.
The need to manage cloud workloads across multiple clouds environments with the gaps between business needs and IT capabilities. Risks of ransomware attacks with cyber threats have also contributed for fueling the demand for cloud protection solutions.
Organizations across the country have recognized the significance and requirements of modern data protection solutions. Investments in cloud protection platforms in the country have increased for management of multi cloud infrastructure, prevention of data loss and enhancement of the economics of product and solutions.
Need for Cloud Protection Platforms to Burgeon as Importance of Cloud Security Surges
The cloud workload protection platform segment is expected to showcase highest CAGR through 2032, as per FMI. This segment is forecasted to create absolute opportunity of USD 17,383.9 Million by the end of 2032. Incorporating cloud workload protection platforms ensures on demand scaling of resources for achieving flexible workload security.
The importance of cloud security for business continuity with seamless online collaboration has been highlighted by the COVID-19 pandemic. The exponential growth of cloud workload protection platforms can be observed with dynamic nature of cloud workloads and increased system distribution across various external cloud environments.
Growing Number of Cyberattacks in SMEs to Boost the Demand for Cloud Workload Protection Market
The small & mid-sized enterprise (SME) segment is expected to grow with the highest CAGR of 23.9% during the forecast period. Risks of cyberattacks and cybersecurity threats are prevailing in small & mid-sized organizations.
Several SMEs are now adopting cloud computing approach for bridging the gaps of cloud security. SMEs with public and multiple cloud vendors are adopting cloud workload protection platforms for bringing automation in security protection of cloud native stacks, while supporting integration workflows.
Also, the rapid growth and transformation in the digital business of small and mid-sized enterprises with the importance of scaling cloud computing is driving the market demand.
BFSI Sector to Account for Nearly 1/5th of Cloud Workload Protection Market Sales
In terms of industry, the BFSI segment is estimated to grow at a CAGR of 19.1% during the forecast period. Banks are increasingly adopting cloud security with the rapid growth of cloud footprint in the last 18 months.
About 58% of workloads from a bank is being migrated on cloud. Therefore, BFSI industry is prioritizing workload protection for supporting of critical cloud workloads for prevention of malware, lateral threats and more.
Also, concerns associated with ransomware attacks and cloud security threats, risks with remote work and cybersecurity concerns linked with social engineering is increasing the demand for cloud workload protection in the market.
Furthermore, surge in demand for digital transformation in the financial sector is driving the industry from cloud averse to cloud first paradigm driving the demand for cloud security solutions.
Cloud workload management market players are concentrating on enterprise collaborations, partnerships and product innovations for strengthening market position, expansion in geographic footprint and increase in in sales.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; and the Middle East & Africa |
| Key Countries Covered | USA, Canada, Germany, UK, France, Italy, Spain, Russia, China, Japan, South Korea, India, Malaysia, Indonesia, Singapore, Australia & New Zealand, GCC Countries, Turkey, North Africa and South Africa |
| Key Segments Covered | Solution, Enterprise Size, Industry and Region. |
| Key Companies Profiled | McAfee; HyTrust; Guardicore; Sophos Group Plc; Symantec Corporation; Trend Micro, Inc; CloudPassage; Dome9 Security, Inc; Aqua Security Software Ltd; Illumio; Orca Security; Logrhythm |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The cloud workload protection market was valued at ~USD 2,918.0 Million in 2021 and is estimated to grow at CAGR of 22.1 % during the forecast period, which will reach the market value of ~USD 25,868.9 Million by 2032.
South Asia & Pacific market is expected to show a rapid growth during the forecast period, where it will represent a CAGR of around 27.2%. The market shares of the South Asia & Pacific region will be around 14.1% in 2022.
The cloud workload protection market in India was valued at ~USD 126.2 Million in 2021 and is projected to register CAGR of around 29.4% between 2022 and 2032.
The global cloud workload protection market growth between 2021 and 2022 is around 20.9% CAGR.
The top 5 countries driving demand for cloud workload protection include the USA, China, UK, India, and Japan.
Some of the leading companies in this landscape are McAfee, Guardicore, Sophos Group, Symantec Corporation, and Illumio among others. As per Future Market Insights, the top players currently cover nearly 27% of the market share.
The cloud workload protection market in last 5 years (2017 to 2021) grew at a CAGR of 20.4%.
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Pricing Analysis 5. Global Market Demand (in Value in USD Million) Analysis 2017 to 2021 and Forecast, 2022 to 2032 6. Market Background 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Solution 7.1. Platform 7.1.1. Cloud Based 7.1.2. On-Premises 7.2. Services 7.2.1. Professional Services 7.2.1.1. Consulting Services 7.2.1.2. Support & Maintenance 7.2.1.3. Training and Education 7.2.2. Managed Services 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Enterprise Size 8.1. Small and Mid-Sized Enterprises (SMEs) 8.2. Large Enterprises 9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Industry 9.1. BFSI 9.2. Government 9.3. IT & Telecom 9.4. Retail 9.5. Manufacturing 9.6. Media & Entertainment 9.7. Healthcare 9.8. Others 10. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. East Asia 10.5. South Asia & Pacific 10.6. Middle East & Africa 11. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 12. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 13. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032 14. South Asia & Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032 15. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032 16. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032 17. Key Countries Analysis- Market 18. Market Structure Analysis 19. Competition Analysis 19.1. McAfee 19.2. CloudPassage 19.3. Guardicore 19.4. Sophos 19.5. Symantec 19.6. Trend Micro, Inc 19.7. HyTrust 19.8. Dome9 Security, Inc 19.9. Aqua Security Software Ltd 19.10. Illumio 19.11. Orca Security 19.12. Logrhythm 20. Assumptions and Acronyms Used 21. Research Methodology
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Cloud Workload Protection Market
