Global Cloud Workload Protection Market 2023-2030

Global Cloud Workload Protection Market 2023-2030

Global Cloud Workload Protection Market Size, Share & Trends Analysis Report by Solution (Monitoring and Logging Policy, Vulnerability Assessment, Threat Detection and Others), by Deployment Model (Public Cloud, Private Cloud and Hybrid Cloud), and by Vertical (BFSI, Healthcare and Life Sciences, Retail and Consumer Goods, Manufacturing, Media and Entertainment, IT and Telecommunications and Others), Forecast Period (2023-2030)

The global cloud workload protection market is anticipated to grow at a CAGR of 15.2% during the forecast period (2023-2030). Cloud workload protection includes the practice of protecting applications, services, and capabilities running on a cloud resource. Virtual machines, databases, containers and applications are all considered cloud workloads. The growing adoption of cloud security and compliance with the improving cloud strategy is the key factor supporting the growth of the market globally. Hence, the market players are also focusing on introducing combining cloud workload protection platform functionality with cloud security posture monitoring platform functionality, that focuses on assessing cloud security and compliance that further bolsters the market growth.For instance, in September 2023, IBM Corp. announced the expansion of the IBM cloud security and compliance center, a suite of modernized cloud security and compliance solutions designed to help enterprises mitigate risk and protect data across their hybrid, multi-cloud environments and workloads.

Segmental Outlook

The global cloud workload protection market is segmented on the solution, deployment model, and verticals. Based on the solution, the market is sub-segmented into monitoring and logging policy, vulnerability assessment, threat detection and others (incident response). Based on the Deployment Model, the market is sub-segmented into public cloud, private cloud and hybrid cloud. Further, on the basis of verticals, the market is sub-segmented into BFSI, healthcare and life sciences, retail and consumer goods, manufacturing, media and entertainment, IT and telecommunications and others (government and public sector, energy and utilities). Among the solutions, the threat detection sub-segment is anticipated to hold a considerable share of the market owing to the enabling detection, investigation, and remediation processes with controls to generate high-quality alerts with native threat detection in cloud services.

The BFSI Sub-Segment is Anticipated to Hold a Considerable Share of the Global Cloud Workload Protection Market

Among the verticals, the BFSI sub-segment is expected to hold a considerable share of the global cloud workload protection market. The segmental growth is attributed to the growing influence of the financial institutions grappling with safeguarding a plethora of sensitive customer financial data, necessitating robust cloud security solutions. While cloud adoption within the BFSI sector boosts efficiency, it also introduces security concerns, making comprehensive cloud security solutions a priority. Banks need to ensure that their data is safe and secure when it is stored in the cloud. They also need to make sure that their systems conform to any applicable regulations governing data privacy. The virtual innovation experience is aimed at helping financial services organizations discover new solutions and accelerate their digital transformation journey. For instance, in June 2023, Wipro Ltd. launched the Wipro Industry Innovation Experience for Financial Services, that includes a range of banking and financial services solutions developed on the Microsoft Cloud platform.

Regional Outlook

The global cloud workload protection market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Among these, Asia-Pacific is anticipated to hold a prominent share of the market across the globe, owing to the increase in the need for multi-cloud strategy in various businesses and the adoption of centralized policy implementation are some of the factors, that drive the growth of the cloud workload protection market. The key market players include CYFIRMA, eSec Forte Technologies, Hangzhou Dbappsecurity Co., Ltd. Trend Micro Inc., and others.

The North America Region is Expected to Grow at a Significant CAGR in the Global Cloud Workload Protection Market

Among all regions, the North America regions is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to the rise in the adoption of cloud-based services, the increasing number of cyber threats, the need for regulatory compliance, and the growing demand for workload protection solutions are prominent factors enhancing the global market. Hence, many cloud-based companies are expanding their business by adding cloud workload protection platforms as one of their product offerings. For instance, in March 2022, Sonrai Security launched its cloud workload protection platform (CWPP), enabling companies to respond to host-based threats concerning their severity and business impact.

The region is the hub for various key players providing cloud-based services. Companies in the region are innovating and merging cloud platforms into hybrid IT, that combines the public cloud, private cloud, and traditional IT. These companies are executing a hybrid cloud strategy to assist them in improving their business activities and delivering services to the users. The key market players include Alphabet Inc., Dome9 Security Inc., Microsoft Corp., NortonLifeLock Inc., Qualys Inc. and others.

Market Players Outlook

The major companies serving the cloud workload protection market include Alphabet Inc., McAfee Corp., Microsoft Corp., Nutanix Inc., Trend Micro Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in April 2023, Accenture and Google Cloud announced an expansion of their global partnership to help businesses better protect critical assets and strengthen security against persistent cyber threats. Offering comprehensive, proactive cybersecurity services for businesses operating on any cloud or multi-cloud architecture.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global cloud workload protection market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.