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Public Cloud Management and Security Services Market Segmentation by Function which is IT Operation Management, Security, Storage Management and also Segmentation by Vertical which is Government, BFSI, Healthcare, Telecommunication ,Media & Entertainmen
Cloud management and security services is a packaged solution which is used to secure data, information, applications, passwords, etc. The major factors which contribute towards the growth of the global market for public cloud management and security services include rising adoption of BYOD (Bring Your Own Device) along with trends in Internet of Things (IOT), increase in adoption of cloud security services, rising demand for cloud computing and management. Also, emergence of smart cities and rising initiatives by government also contribute towards the health of the global market for public cloud management and security services.
The SMBs are fuelling growth of this market as they are becoming aware of security dangers. Moreover, the fact that cloud security services provide opportunities to decrease costs as well as time is pushing the adoption of cloud security services on a large scale, especially by the small and middle sized businesses, thus fuelling the growth of the global public cloud management and security services market.
Cloud management is referred to as the administrative control over private, hybrid and public clouds. Since several businesses are moving towards cloud services, a secure access is essential part of the package. Public cloud management and security services is a service provider solution package which provides cloud hosted offerings. It refers to wide set of technologies, policies as well as controls used to secure and protect applications, data and other associated infrastructure of cloud computing. It is lies in the sub category of network security or computer security or more importantly, information security.
According to Persistence Market Research, the global public cloud management and security services market is expected to reflect a value of US$ 26.41 Bn by the end of 2022, growing at a high CAGR throughout the period of forecast, 2017-2022.
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Global public cloud management and security services market finds North America to be the most lucrative region which reflects higher market attractiveness. The region is expected to expand at the highest rate showing a robust CAGR of 28.7% throughout the period of forecast.
North America dominated the global market in 2017 pertaining to market share and is poised to continue dominating the global market due to higher growth rate during the forecast period. After North America, Europe stands second pertaining to value. Asia-Pacific excluding Japan (APEJ) region is expected to show higher growth rate as compared to Europe region in the coming years.
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Get a Customized VersionThe IT operation management segment by function is expected to expand at the highest rate during the period of forecast. This segment is poised to register a CAGR of 31.4% during 2017-2022. However, this segment has a low market share. The security segment dominates the global market in terms of high market share as of 2017 and this trend is poised to carry on in the long run.
The storage management segment also shows high potential than the IT operation management segment as it has a similar growth rate but a much higher market share. This segment is also expected to gain the highest BPS by the end of 2022.
Small and medium segment by enterprise is expected to gain highest BPS by end of the forecast period. This segment also shows higher growth rate and out runs the large enterprise category. The number of small and medium enterprises adopting cloud management systems is rising, which is the main reason for this segment to witness high growth. The large enterprise segment, however, dominates the global market in terms of market share.
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