United States Cloud Security Market

United States Cloud Security Market Overview:

The United States cloud security market size reached US$ 7.6 Billion in ​2023​. Looking forward, IMARC Group expects the market to reach US$ 26.5 Billion by ​2032​, exhibiting a growth rate (CAGR) of 14.9% during 2024-2032. There are several factors that are driving the market, which include the rising adoption of cloud computing services, trends towards remote working, and increasing frequency and severity of data breaches and cyber attacks in organizations.

United States Cloud Security Market Analysis:

• Major Market Drivers: One of the key market drivers include stringent data protection regulations. Moreover, there is an increase in the need for cost-effective and scalable solutions, which is acting as another growth-inducing factor.       
• Key Market Trends: The rising adoption of cloud computing services and a shift towards remote working are main trends in the market.
• Competitive Landscape: Some of the major market players in the United States cloud security industry are provided in the report.
• Challenges and Opportunities: Data protection and privacy represent a key market challenge. Nonetheless, the development of zero trust security models, coupled with the increasing adoption of advanced technologies, is projected to overcome these challenges and provide market opportunities.

United States Cloud Security Market Trends:

Increasing Adoption of Cloud Computing Services

There is an increase in the need for secure cloud environments across the United States. This expansion necessitates robust security measures to protect sensitive data and maintain the integrity of cloud services. The rising demand for advanced encryption, identity and access management (IAM), and data loss prevention (DLP) solutions to ensure data protection and privacy among enterprises is impelling the market growth. Organizations are leveraging various cloud models such as public, private, and hybrid clouds. Each model presents unique security challenges and requirements, thereby catalyzing United States cloud security demand that can address specific vulnerabilities and compliance needs. Furthermore, companies are focusing on introducing advanced security solutions to cater to the unique needs of organizations. For instance, on 13 June 2023, Amazon Web Services Inc. announced a variety of new security tools and expansions to existing services for its cloud computing clients. The company declared its goals at the annual Inforce conference in Anaheim, California to bring more zero-trust features further across its cloud infrastructure and to make it easier for its clients to screen the more than 1 billion application programming interface (API) calls per second.

Trend Towards Remote Working

The rising trend of remote working is bolstering the United States cloud security market growth. Employees who work remotely have access to company resources from a variety of devices and places, which is increasing the attack surface. Strong cloud security measures are required as a result of this decentralization in order to guard against any vulnerabilities brought on by remote access. It is increasingly important to guarantee safe remote access to company resources. To enable safe and regulated access to cloud-based apps and data, solutions including virtual private networks (VPNs), secure web gateways, and zero trust network access (ZTNA) are being used more frequently. Additionally, establishing multi-factor authentication (MFA) is essential in a remote work setting to verify user identities and prevent unauthorized access, which is offering a favorable United States cloud security market outlook. Prominent companies are introducing a range of security options for remote settings. For example, on 6 June 2023, the US-based Cisco Systems debuted a new security service edge (SSE) solution to support hybrid work environments and demonstrated the first security cloud powered by generative artificial intelligence (Al) to offer safe access to resources and applications. The future of hybrid multi-cloud computing eliminates needless decision-making while enabling smooth and quick connections and ongoing access grants.

Growing Number of Data Breaches and Cyber Attacks

As per the IT Governance, there were around 4,277,728,098 data breaches and cyber attacks in April 2024 in the United States. The necessity for strong cloud security measures is becoming more and more apparent to enterprises due to the rising frequency and intensity of data breaches and cyber attacks. High-profile incidents and their associated costs underscore the urgency to protect sensitive data and systems, thereby increasing the United States cloud security market share. Furthermore, attackers are employing more complex tactics like ransomware, phishing, and zero-day exploits, which is contributing to the sophistication of cyber threats. Cloud environments require sophisticated security systems that can effectively identify, stop, and respond to these attacks. Besides this, data breaches are leading to regulatory scrutiny and the imposition of fines under laws such as the Health Insurance Portability and Accountability Act (HIPAA), the California Consumer Privacy Act (CCPA), and other state regulations. Compliance with these regulations requires comprehensive cloud security solutions to avoid penalties and maintain user trust.

United States Cloud Security Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2024-2032. Our report has categorized the market based on service model, deployment model, organization size, solution type, and industry verticals.

Breakup by Service Model:

• Infrastructure as a Service (IaaS) 
• Platform as a Service (PaaS)
• Software as a Service (SaaS)
   

The report has provided a detailed breakup and analysis of the market based on the service model. This includes infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS).

Servers, storage, and networking are among the virtualized computing resources that is offered by infrastructure as a service (IaaS) over the internet. IaaS allows companies to pay for only the infrastructure they use.

Hardware and software tools are made available online by platform as a service (PaaS) for use in application development. The entire application lifecycle including developing, testing, deploying, and managing applications is supported by this service.

Software as a service (SaaS) delivers software applications over the internet, mainly on a subscription basis. This model eliminates the need for organizations to install and run applications on their own computers or data centers.

Breakup by Deployment Model:

• Public Cloud
• Private Cloud
• Hybrid Cloud
   

A detailed breakup and analysis of the market based on the deployment model have also been provided in the report. This includes public cloud, private cloud, and hybrid cloud.

Third-party suppliers offer public cloud services via open internet, making them accessible to individuals wishing to purchase or utilize them. There is an increase in the need for strong encryption techniques for data that is in transit and at rest to prevent unwanted access.

Private cloud services are specially designed environments that are used by a single organization. They allow enhanced control over resources and security and can be easily hosted by an outside supplier or on-premises. In addition, comprehensive encryption techniques are becoming more and more necessary to safeguard data in these clouds.

Hybrid cloud merges public and private cloud environments and allow data and applications to be shared between them. More adaptability and infrastructure optimization are provided by this model. The growing demand for unified security management solutions, as they provide a single pane of glass for managing security across hybrid environments, is offering a favorable United States cloud security market forecast.

Breakup by Organization Size:

• Small and Medium-sized Enterprises (SMEs)
• Large Enterprises
   

The report has provided a detailed breakup and analysis of the market based on the organization size. This includes small and medium-sized enterprises (SMEs) and large enterprises.

Small and medium-sized enterprises (SMEs) are often characterized by limited infrastructure technology (IT) resources and budgets. The rising need for robust cloud security solutions, as these businesses are adopting cloud services for flexibility and cost-efficiency, is propelling the market growth.

Large enterprises usually have more complex IT environments and greater resources for cybersecurity. They adopt cloud services for scalability, agility, and global reach, necessitating advanced and comprehensive cloud security measures.

Breakup by Solution Type:

• Email and Web Security
• Cloud Identity and Access Management
• Data Loss Prevention
• Intrusion Detection System/Intrusion Prevention System
• Security Information and Event Management
• Others
   

A detailed breakup and analysis of the market based on the solution type have also been provided in the report. This includes email and web security, cloud identity and access management, data loss prevention, intrusion detection system/intrusion prevention system, security information and event management, and others.

Email and web security solutions protect organizations from threats originating from email communications and web browsing. These threats include phishing, malware, spam, and other cyber attacks. The rising adoption of email filtering and anti-spam tools due to their ability to filter out spam and malicious emails before they reach the user is strengthening the market growth. As a result, these characteristics of this segment provides United States cloud security market recent opportunities.

Cloud identity and access management (IAM) solutions help organizations manage and control user access to cloud resources. These solutions ensure that only authorized users have access to sensitive data and applications. The growing demand for zero trust principles to ensure continuous verification and minimal privileges is influencing the market positively.

Data loss prevention (DLP) solutions are designed to detect and prevent unauthorized access, use, transmission, and storage of sensitive data. These solutions assist organizations in protecting their data from breaches and comply with data protection regulations.

Breakup by Industry Verticals:

• BFSI
• IT and Telecom
• Energy and Utilities
• Government and Public Sector
• Healthcare and Life Sciences
• Manufacturing
• Others
   

The report has provided a detailed breakup and analysis of the market based on the industry verticals. This includes BFSI, IT and telecom, energy and utilities, government and public sector, healthcare and life sciences, manufacturing, and others.

The BFSI sector is highly regulated and deals with vast amounts of sensitive data, making it a prime target for cyberattacks. The adoption of cloud services in this sector requires stringent security measures to protect financial data and comply with regulatory requirements.

The IT and telecom sector is characterized by rapid technological advancements and extensive use of cloud services. This sector requires robust security solutions to protect against cyber threats and ensure the integrity and availability of services.

Energy and utilities sector is critical for national infrastructure and faces unique security challenges related to operational technology (OT) and industrial control systems (ICS). The adoption of cloud services in this sector necessitates robust security measures to protect against cyber threats and ensure the resilience of critical infrastructure.

Breakup by Region:

• Northeast
• Midwest
• South
• West
   

The report has also provided a comprehensive analysis of all the major markets in the United States, which include Northeast, Midwest, South, and West.

Northeast includes major economic hubs such as New York, Boston, and Philadelphia. This region is known for its thriving financial, healthcare, and education sectors, which are catalyzing the cloud security demand. There is a rise in the demand for solutions that protect against sophisticated cyber threats including AI-driven security tools.

The Midwest region including cities like Chicago, Detroit, and Minneapolis has a diverse industrial base encompassing manufacturing, automotive, and agriculture sectors. Cloud security demand in this region is driven by the need to protect critical infrastructure and industrial operations.

The South region including states like Texas, Florida, and Georgia is characterized by its thriving energy and healthcare sectors. The growing demand for cloud security due to the rising need to protect critical infrastructure and comply with regulatory requirements is bolstering the market growth. Texas is a major hub for the energy sector, requiring strong cloud security measures to protect critical infrastructure.

The West region is known for the presence of major tech companies and startups. There is a rise in the demand for innovative security solutions that leverage AI and machine learning (ML). Moreover, the increasing focus on protecting intellectual property and sensitive media content is contributing to the market growth.

Competitive Landscape:

• The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have been provided. 
• United States cloud security companies are focusing on enhancing the capabilities for threat detection, security monitoring, and compliance management for cloud environments. They are implementing zero trust security models across its cloud services to ensure continuous verification and minimal privileged access. In addition, they are organizing extensive compliance programs for organizations to meet their regulatory requirements. They are providing extensive educational resources and best practices to help individuals enhance their cloud security posture. Apart from this, they are engaging in research and development (R&D) activities in quantum-safe cryptographic algorithms to future-proof data security, thereby increasing the United States cloud security market revenue. They are focusing on automation to streamline security operations and reduce human error. Key players are engaging in strategic partnerships and acquisitions to enhance cloud security offerings and expand market reach. For instance, on 4 March 2024, Check Point Software Technologies and BBT announced a partnership to represent a major milestone in revolutionizing secure cloud-based connectivity. This showcases the seamless integration of Check Point's CloudGuard software with BBT.live's innovative BeBroadband™ as a Service Platform, at CPX2024 Las Vegas, followed by CPX2024 Vienna.

United States Cloud Security Market Recent Developments:

• 30 November 2023: Amazon Web Services (AWS) announced enhancements to several of its security tools such as GuardDuty, Inspector, Detective, IAM Access Analyzer, and Secrets Manager during its Invent event in the Las Vegas. The company aims to surpass Google Cloud and Microsoft Azure. In line with this, the company added generative AI to its security tools Amazon Inspector and Amazon Detective.

United States Cloud Security Market Report Scope:

Key Questions Answered in This Report:

• How has the United States cloud security market performed so far, and how will it perform in the coming years?
• What has been the impact of COVID-19 on the United States cloud security market?
• What is the breakup of the United States cloud security market on the basis of service model?
• What is the breakup of the United States cloud security market on the basis of deployment model?
• What is the breakup of the United States cloud security market on the basis of organization size?
• What is the breakup of the United States cloud security market on the basis of solution type?
• What is the breakup of the United States cloud security market on the basis of industry verticals?
• What are the various stages in the value chain of the United States cloud security market?
• What are the key driving factors and challenges in the United States cloud security market?
• What is the structure of the United States cloud security market, and who are the key players?
• What is the degree of competition in the United States cloud security market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the United States cloud security market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the United States cloud security market.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the United States cloud security industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.