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Cloud Security Market Forecasted To Surpass USD 97.3 Billion at a 21.40% CAGR by 2030 – Report by Market Research Future (MRFR)

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New York, US, Sept. 21, 2022 (GLOBE NEWSWIRE) — Advancing Systems and Attack Modes Demand Dynamic Cloud Security Approach 

According to a comprehensive research report by Market Research Future (MRFR), “Cloud Security Market Information by Deployment, Types, End-user- Forecast to 2030”, the market is anticipated to flourish at a robust CAGR of approximately 21.40% to reach USD 97.3  Billion during the assessment timeframe.

Cloud Security Market Overview:

The cloud security market garners significant traction across the globe. The market growth attributes to growing threats of cyber-attacks on cloud data. Cloud security solutions protect the confidential data saved on the cloud drive from unauthorized access. Moreover, the rise in cloud services usage among organizations of all sizes to store their confidential data on cloud substantiates the market size.  

Report Scope:

Report Attribute/Metric Details
Market Size in 2030   USD 97.3 Billion
Growth YoY 21.40% CAGR (2022-2030)
Key Market Opportunities Cloud technology is heavily contributing to digital disruption
Key Market Drivers Increase in demand for cloud computing.
The growing healthcare industry is demanding for security over cloud technology.

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Continually rising security concerns associated with cloud-stored data & assets and data breach cases are expected to boost market revenues in the years to come. According to MRFR, the cloud security market valuation is poised to escalate from USD 5 MN in 2021 to USD 97.3 MN by 2030, growing at a 21.40% CAGR throughout the assessment period (2021-2030). Also, the proliferation of the BYOD trend in offices would support the market demand.

Cloud security companies strive to expand the role of hybrid-cloud security packages, adding data, threat intelligence, and security services. Such cloud security packages feature open-source technology for hunting threats and automation capabilities to speed response to cyberattacks, bringing together on a single console data gathered by customers’ existing security point products. 

Technology providers strive to offer a security-software package for hybrid-cloud deployments, improving the security data collection within networks and drawing on third-party threat intelligence feeds, among other upgrades. Furthermore, the rapid implementation of advanced technologies and the well-established infrastructure push the market growth, posing cybersecurity challenges. 

Industry Trends

Most companies have already moved their business-critical data to cloud storage. Others are working on embracing cloud storage to increase their employee’s flexibility and reduce IT costs. This, as a result, is creating vast market demand, presenting security and visibility concerns to these organizations. Additionally, advances in cloud security sources and cloud computing security solutions push market growth, enhancing critical data protection. 

Rising innovations and digital transformations in various organizations increase market sales, leading to dramatic digital technologies and cloud computing developments. Furthermore, the burgeoning IT & telecom sector worldwide contributes to the growth of the cloud security market, adopting cloud services to simplify data transferring processes. 

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Also, the internet and smartphone penetration accelerates the market demand, increasing access to the cloud drive. Conversely, the lack of technical expertise and awareness about cloud security among small & medium-sized organizations (SMEs) are major factors projected to obstruct market growth. 

However, the increasing adoption of artificial intelligence (AI) and portable, smart, connected devices would support market growth during the review period. Similarly, growing numbers of businesses and inclination toward automation & IoT device usage would foster the market’s development. 

Segments

The cloud security market is segmented into types, deployments, end-users, and regions. The type segment is sub-segmented into cloud database security, virtualization security, network security, data loss prevention, e-mail & web security, and others. The deployment segment is sub-segmented into private, public, and hybrid.

The end-user segment is sub-segmented into retail, healthcare, BFSI, BFSI, government, utility, IT & telecom, and others. The region segment is bifurcated into the Americas, Asia-Pacific, Europe, and the Rest-of-the-World.

Geographical Analysis 

North America is the significantly largest market for cloud security globally. The largest market share attributes to the augmenting market demand and rising numbers of cloud security infrastructures in the region. Besides, vast technological advancements drive market growth, offering a favorable platform for cloud security. Growing cloud computing deployments among increasing numbers of businesses substantiate the region’s market shares, creating a substantial demand for security solutions. 

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Europe is another lucrative market for cloud security solutions. Rapidly developing network infrastructures and growing industries in the region create substantial market demand. Moreover, advances in security solutions and cloud technology, alongside the proliferation of artificial intelligence (AI) and smart connected devices, boost market revenues. Simultaneously, increasing numbers of cyber-attacks in the automotive and IT industry propel the development of the market.

The cloud security market in the Asia Pacific region is growing briskly. Factors such as the rising trend of bring your own device (BYOD) policy in offices substantiate the regional market growth, increasing the threat of cyber-attacks on cloud data. Similarly, the growing demand for corporate data security from unauthorized access and cyber-attacks creates huge market demand. Moreover, the increasing implementation of cloud computing security in rising numbers of companies increases market sales. 

Competitive Landscape

Highly competitive, the cloud security market appears fragmented due to the presence of many well-established players. To gain a substantially larger competitive share, players incorporate strategic approaches such as mergers & acquisitions, collaboration, expansion, and product & technology launches. Cloud security companies accentuate product development. Also, they make substantial investments to drive R&D activities and expand their global footprints.

For instance, on Sep. 13, 2022, Opus Security, a cloud security orchestration & remediation platform, announced raising US$10 million in a seed funding round to help tackle cloud security threats. The funds will be used to launch and make available Opus’ platform and expand its footprint in the US & product R&D. Opus’ vision is to empower security operations teams to gain knowledge, capabilities, and control to cut down the time to resolve them dramatically.

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In another instance, on Sep. 14, 2022, Dig Security, a startup developing security tools, announced raising US$34 million in a seed funding round in Series A investment to continue expanding its platform and tackle cloud data security issues. The company assesses and provides real-time monitoring for clients’ data assets in multi-cloud-based environments. It provides data security posture management (DSPM), data loss prevention (DLP), and data detection & response (DDR).

Players active in the global cloud security market are IBM Corporation (US), Symantec Corporation (US), Cisco Systems, Inc. (US), CA Technologies, Inc. (US), Microsoft Corporation (US), Trend Micro Inc. (Japan), Okta, Inc. (US), Cloud Passage Company (US), Fortinet, Inc. (US), and Intel Corporation(US), among others.

Related Reports:

Security Solutions Market Research Report, by Product, Service, End-user— Forecast till 2030

Cloud Application Security Market, by component, Organization Size, Vertical – Forecast to 2027

Cloud Access Security Broker Market Report Information By Solution, Service, Delivery Model, End-User– Global Forecast to 2027

About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

XtalPi Unveils XtalGazer: A Comprehensive AI-Driven Polymorph Selection Platform

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CAMBRIDGE, Mass., March 28, 2024 /PRNewswire/ — XtalPi Inc., a leading global technology company in integrating artificial intelligence (AI) and robotics to advance the discovery of groundbreaking medicine and innovative materials, announced today the launch of its proprietary comprehensive solid form discovery and selection platform, XtalGazer. This advanced platform aims to significantly improve the polymorph selection process for the pharmaceutical industry by integrating AI- and automation-powered experimental and computational approaches.

XtalGazer provides a total solution for delivering high-quality polymorph screening and selection methods to expedite drug development and mitigate risks. It represents a paradigm shift in solid-state research, moving from the traditional trial-and-error approach to a data-driven, design-led methodology. The platform provides an expansive suite of foundational tools to accelerate polymorph discovery, characterization, and selection process, empowering pharmaceutical companies to conduct thorough research with less active pharmaceutical ingredient (API) in shorter development cycles.
A key component of XtalGazer is XtalCSP, a crystal structure prediction platform to perform global searches of crystal structures for target molecules and the other optional components in the corresponding searching space, offering a deep insight into possible stable forms. Furthermore, crystallization strategy recommendations will provide AI-backed experimental design to help avoid human bias. XtalGazer also utilizes MicroED to rapidly elucidate crystal structures from powder samples, reducing the need for growing single crystals.
XtalPi’s launch of XtalGazer marks another significant step in the company’s ongoing exploration of solid-state research. From crystal structure prediction platforms being one of the first products to launch at XtalPi, to today’s comprehensive polymorph selection platform, XtalPi will keep fulfilling its promise to solving challenging problems in this space. XtalPi will continue to deliver faster, more accurate, and more comprehensive approaches to building an ecosystem for the R&D process in solid-state, pre-formulation and crystallization.
For more information about XtalPi, please visit www.xtalpi.com.
About XtalPi:
XtalPi is an innovative technology company powered by artificial intelligence (AI) and robotics. Founded in 2015 on the MIT campus, XtalPi is dedicated to driving intelligent and digital transformation in the life science and new materials industries. With tightly interwoven quantum physics, AI, cloud computing, and large-scale clusters of robotic workstations, XtalPi offers a range of technology solutions, services, and products to accelerate and empower innovation for biopharmaceutical and new materials companies worldwide.
Media Contact: Vivienne [email protected]
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ICIS and Base Oil News Announce Partnership to Enhance Market Insights

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LONDON, March 28, 2024 /PRNewswire/ — ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market. This collaboration marks a significant milestone in the dissemination and exchange of critical market data and insights.

With more than two decades of journalism experience at Bloomberg, Reuters, and Argus Media, Iain Pocock brings unparalleled expertise to this partnership. His deep understanding of illiquid energy markets makes him a credible and influential figure in the industry. Since November 2023, Iain has been working closely with ICIS to share and exchange valuable data and insights, enhancing the services both platforms offer to the base oils and lubricants market.
Through the collaboration, Iain integrates ICIS’ extensive content and data resources in Base Oil News market coverage. In return, he contributes market insights to ICIS News, including expert and exclusive analysis of supply and demand dynamics, price margins, and other critical market drivers. This exchange ensures that subscribers of both ICIS and Base Oil News have access to the most comprehensive, timely, and accurate market information, empowering them to make informed decisions.
“It’s a very exciting partnership – where we leverage each other’s strengths and provide actionable insights to our customers,” said Iain Pocock, Founder of Base Oil News. “The market is the winner.”
“As ICIS is already the world’s most trusted pricing benchmark for base oils, this collaboration with Iain Pocock and Base Oil News provides an even stronger and deeper service to our customers,” said Stephen Burns, Editorial Director at ICIS. “Iain’s expertise and extensive industry connections are invaluable, and we have established a fruitful partnership that benefits the market at large.”
For the latest insights from Iain Pocock on ICIS News, visit ICIS News.  
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £64bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £64bn | €75bn | $81bn.
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Trianz Welcomes Israel Abraham as Vice President of Services for Extrica.ai – The Data to AI Platform

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SANTA CLARA, Calif., March 28, 2024 /PRNewswire/ — Digital transformation technology & services company Trianz is pleased to announce the appointment of Israel Abraham as Vice President of Extrica Platform Services.

Trianz has embarked on a transformative journey, redefining its value proposition with an ‘IP Led’ model, with a commitment to deliver the fastest time to value, lowest human dependence, and highest ROI. Central to this approach are our hyper-automated platforms, Concierto.Cloud, Extrica.AI, and Pulse, driving industry-leading transformations in cloud, data and analytics, AI, and the digital workplace.
Israel Abraham is a very well-known pioneer and industry leader in AI, data management, and analytics systems, with over three decades of experience. He joins as the services leader for Extrica- the Trianz Data to AI platform, which productizes data, provides data a face and purpose, and accelerates time to insights and AI by 50% or more. In the role of Extrica Services leader, Israel will lead the shaping, visioning, and delivery of Extrica.ai based enterprise wide datamesh, BI, and AI solutions for customers worldwide.
“We are thrilled to welcome Israel Abraham to the Trianz family,” said Sri Manchala, CEO of Trianz and author of Crossing the Digital Faultline. “He is a leader in modernization as well as conceptualization of data platforms anew. Israel’s prior background in the industry with financial services and insurance giants underscores our commitment to securing top-tier talent that brings real-world experiences and needs to our technology platforms. As we continue to broaden our footprint in the digital transformation space, Israel’s visionary leadership and practical experience will serve as the cornerstone in accelerating insights and AI to deliver transformative value to our clients.”
Having played pivotal roles in highly reputed and large organizations such as Liberty Mutual Insurance, MassMutual, Safeco, and CNA Insurance, Israel has garnered recognition as a seasoned leader in big data and AI cloud implementations. His accolades include the prestigious 2014 Ventana Research IT Innovation Award, the 2009 Informatica MDM Innovation Award, and three filed Data Engineering patents in the last four years.
“Trianz has been at the forefront of digital innovation, and Extrica.ai is a paradigm shifting data to AI platform that completely changes how analytics and AI are delivered- much faster, taking business ahead of change. I am excited to scale the adoption of the Extrica platform, which has attracted attention from giants across the industry and hyperscalers,” said Israel Abraham. “I look forward to engaging with customers, bringing my own experiences, and collaborating with the talented team at Trianz to further enhance the capabilities of the Extrica Platform Services to transform data & AI strategies, execution, and outcomes for customers.”
About Trianz
Trianz is a leading-edge technology platforms and services company that accelerates digital transformations at Fortune 100 and emerging companies worldwide in data & analytics, digital experiences, cloud infrastructure, and security. Our ‘IP Led Transformations’ approach, informed by insights from a recent global study spanning 20+ industries and 5000+ companies, addresses challenges posed by the rapid pace of AI-driven transformation, digital talent scarcity, and economic uncertainty. Our IP and platforms, including Concierto, Extrica, and Pulse, revolutionize cloud adoption, data analytics, and AI insights, empowering organizations to navigate the complexities of digital transformation seamlessly.
Founded in California and with an organization of over 2,000 associates across the United States and India, Trianz is a Premier Partner of AWS, consistently rated #1 by clients for value delivery over the past five years. Trianz has been ranked as one of the best Consulting Firms by Forbes and has been certified as a Great Place to Work for three years in a row. To learn more about Trianz, email [email protected] or visit www.trianz.com.
Watch Trianz CEO Sri Manchala’s insightful interview with Bloomberg on Partner | Crossing The Digital Faultline & Leading Towards Transformative Success – YouTube and delve deeper into his book Crossing the Digital Faultline at Crossing the Digital Faultline | Trianz.
Trianz Media [email protected] +1-408-387-5800
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