Artificial Intelligence
Cloud Security Market Forecasted To Surpass USD 97.3 Billion at a 21.40% CAGR by 2030 – Report by Market Research Future (MRFR)
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.
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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.
Artificial Intelligence
Northern Data Group’s Peak Mining announces new partnership for 28MW of mining, powered by 100% renewable energy
28MW of miners delivering 1.3 EH/s, strategically located in Paraguay2,860 units of MicroBT’s M63-series liquid-cooled WhatsMiners to be installedPower rate of sub $0.04/kWh, generated by 100% renewable hydropowerFRANKFURT, Germany , May 10, 2024 /PRNewswire/ — Northern Data Group’s Peak Mining today announces a new partnership with Penguin Infrastructure Holding (“Penguin”) for 28MW of mining capacity. This project represents a significant next step in Northern Data Group’s geographical expansion and enables Peak Mining to increase its hashrate, powered by 100% renewable energy.
The hardware will be energized in H2 2024 and marks Peak Mining’s first step into South America. 2,860 units of MicroBT’s M63-series liquid-cooled WhatsMiners will be installed at the site. The hardware will generate 1.3 EH/s, contributing to Peak Mining’s planned growth to 7.9 EH/s this year.
The site in Paraguay is 100% powered by renewable hydropower harnessed from the 14 GW Itaipu Dam, it is the world’s third-largest hydroelectric dam. The site will therefore benefit from the availability of clean energy.
This expansion into South America follows Peak Mining’s recent purchase of a 300MW mining data center site in Corpus Christi, Texas, which will power around 4.2 EH/s of MicroBT’s miners as well as the construction of a 30MW facility in Grand Forks, North Dakota, which will support approximately 1.1 EH/s of the miners.
This selection of sites underscores Northern Data Group’s commitment to meet the demands of the industry as efficiently as possible. Throughout 2024, Northern Data Group will be rapidly expanding its HPC footprint.
Aroosh Thillainathan, Northern Data Group’s Chief Executive Officer, commented:
“This partnership is significant to Northern Data Group as we continue to execute on our investment strategy and solidify our position within the global High Performance Computing market, and I’m especially pleased to be working with Penguin, given the team’s impressive sustainability standards at this site. It is Peak Mining’s first expansion into South America and is another milestone for the company as it continues to scale its international Bitcoin mining capabilities.”
Niek Beudeker, Managing Director, Peak Mining, commented:
“I’m pleased to partner with Penguin to expand our mining capacity to Paraguay. The Penguin team has done a tremendous job in constructing the site and building a strong local team. This agreement, structured as a partnership, will allow for better alignment of both parties than with a standard hosting arrangement. The partnership demonstrates our commitment to leveraging 100% clean energy to meet growing industry demand, efficiently”.
Björn Schmidtke, CEO at Penguin Group, commented:
“This strategic alliance with Northern Data Group strengthens our position as a leader in hosting next-generation High Performance Computing and also allows us to strengthen our capabilities and expand our offerings in cutting-edge areas such as AI compute. We are committed to advancing in this constantly accelerating world, which demands more high-quality services to keep evolving.”
About Peak Mining
Peak Mining, part of the Northern Data Group, is powering the future of the Bitcoin network. We deliver industry-leading operating and energy efficiency in Bitcoin mining through the latest hardware alongside innovative technology and HPC infrastructure. With our heritage dating back to 2013, we’ve been innovating for over a decade and have been at the forefront of the industry ever since. Our high-quality infrastructure is purpose-built to secure the Bitcoin network, and we’re driven to continuously find new efficiencies driving value for our investors. We’re delivering long term value in more responsible ways.
About Penguin
Penguin Group is at the forefront of HPC and cloud services powered by fully renewable hydro power in South America. Its core value is the mission to Transform Energy into Human Potential. This mission is achieved through Penguin Academy, a revolutionary education concept where students ‘learn by doing’ and has already trained thousands of young people to become the next generation of tech talent. Penguin aims to transform Paraguay into the Technological Hub of South America and expand their concept and mission globally.
About Northern Data Group
Northern Data Group (ETR: NB2) is a leading provider of High Performance Computing (HPC) solutions, utilizing GPU- and ASIC-technology. Our flexible compute power fuels innovation in our three core business platforms: Taiga Cloud, Ardent Data Centers, and Peak Mining. Through our HPC solutions, we pioneer ambitious computing innovation that drives progress in the AI, ML and Generative AI industries. Our close collaboration with industry-leading manufacturers including Gigabyte, AMD, and NVIDIA is fundamental to the acceleration of innovation across sectors including life sciences, financial services, and energy.
View original content:https://www.prnewswire.co.uk/news-releases/northern-data-groups-peak-mining-announces-new-partnership-for-28mw-of-mining-powered-by-100-renewable-energy-302141597.html
Artificial Intelligence
Sanad Announces Strategic Sale Transaction with CFM Materials, Further Fostering Aviation Industry Collaborations
Sanad’s sale of two CFM56-7B engines to CFM Materials highlights its ongoing commitment to strengthening industry partnershipsBy partnering with leading aftermarket specialists, Sanad reaffirms its commitment to proactive portfolio management and strategic capital allocationHONG KONG, May 10, 2024 /PRNewswire/ — Sanad, the global aerospace engineering and leasing solutions leader, wholly owned by Abu Dhabi’s sovereign investor Mubadala Investment Company PJSC (Mubadala), unveiled a strategic transaction between Sanad and CFM Materials, the world’s largest provider of used serviceable components for CFM International engines, during the International Society of Transport Aircraft Trading (ISTAT) Asia in Hong Kong.
The sale of two CFM56-7B* engines to CFM Materials underscores Sanad’s strategic shift and proactive approach to strengthening its market position in the aviation industry. Through strategic partnerships with leading aftermarket specialists, Sanad not only reaffirms its commitment but also solidifies its vital role as a key player in shaping the aviation landscape.
This strategic agreement marks a pivotal milestone for the Sanad Leasing division’s ongoing strategy, which was initiated last year with a renewed focus on monetizing existing assets and leveraging the Sanad Leasing division to empower the Sanad MRO division. The primary goal of this strategy is to drive and bolster the growth of the MRO division of Sanad.
Kashish Kohli, Group Chief Financial Officer and SVP Leasing Division at Sanad, said: “We are pleased to announce the successful sale of two CFM56 engines to CFM Materials. This transaction reaffirms our commitment to optimizing our portfolio collaborating with industry leaders like CFM Materials. We are eager to explore further synergies between our respective organizations to explore further avenues of cooperation in the future.”
This collaboration presents new opportunities for CFM Materials to support MRO networks, airlines, lessors, manufacturers, and other service providers worldwide. Adding two CFM56-7B engines to CFM Materials portfolio enables them to meet the increasing demand from customers.
Rudy Bryce, President and CEO of CFM Materials, commented: “This agreement with Sanad strengthens our commitment to support our customers by expanding our lease pool and bolstering our position as a reliable partner to engine owners, operators and CFM56 engine shops around the world.”
With over 35 years of operational excellence and trusted partnerships with over 30 customers across six continents, including world-leading international airlines and global OEMs, Sanad remains at the forefront of aerospace engineering and leasing solutions. The Sanad Leasing division, a key pillar of Sanad’s comprehensive offerings, is committed to providing integrated solutions that address the growth requirements of its partners. Currently, the Sanad Leasing division boasts a substantial portfolio exceeding USD 700 million in assets, showcasing its robust capabilities and dedication to supporting the aviation industry’s evolving needs.
About Sanad
Sanad Group (Sanad) is a global aerospace engineering and leasing solutions leader in Abu Dhabi wholly owned by Mubadala Investment Company PJSC. With more than 35 years of operational experience, Sanad supports leaders in commercial aviation with world-class maintenance, repair, and overhaul (MRO) services and financing solutions.
Visit us at www.sanad.ae. Follow us on Instagram, Facebook and LinkedIn @TheSanadGroup.
About CFM Materials
Based near DFW Airport, Texas, CFM Materials, a joint venture of GE Aerospace and Safran Aircraft Engines, is the world’s largest provider of used serviceable components for CFM International engines that power the Airbus A320 and Boeing 737 commercial jetliners, as well as the Boeing KC-135R aerial tanker operated by the U.S. Air Force.
In addition to its core operation, the company also sells surplus inventories for CFM International and provides inventory for its parent companies’ MRO (maintenance, repair and overhaul) network around the world. CFM Materials has a global presence with warehouse facilities located near DFW Airport, Texas, Amsterdam, Hamburg, and Singapore; along with sales offices in Singapore and Cardiff, Wales. www.cfmmaterials.com
*CFM56 engines are a product of CFM International, a 50/50 joint company between GE Aerospace and Safran Aircraft Engines.
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For more information, please contact: Raneem Khatib Edelman [email protected] +971 50 204 9791
View original content:https://www.prnewswire.co.uk/news-releases/sanad-announces-strategic-sale-transaction-with-cfm-materials-further-fostering-aviation-industry-collaborations-302142116.html
Artificial Intelligence
CoreWeave Invests £1 Billion in UK; Opens New European Headquarters and Data Centres in London to Bring Cloud Infrastructure to Power the AI Revolution
LONDON, May 10, 2024 /PRNewswire/ — CoreWeave, the leading specialized cloud provider for AI, today announced that it has opened an office in London as its European headquarters as part of a broader expansion into the continent. The new UK expansion represents a £1 billion investment to bolster the country’s AI potential, and will create job opportunities across engineering, operations, finance and go-to-market. CoreWeave plans to open two UK data centres in 2024 with further expansion planned in 2025.
“We are seeing unprecedented demand for AI infrastructure and London is an important AI hub that we are investing in. Expanding our physical footprint in the UK is an important milestone in the next phase of CoreWeave’s growth,” said Mike Intrator, Cofounder and Chief Executive Officer, CoreWeave. “CoreWeave’s infrastructure will fill a void in the cloud market by providing AI enterprises with localized high-performance compute solutions that will help build and deploy the next generation of AI applications.”
Prime Minister Rishi Sunak said: “Companies like CoreWeave are powering the future of AI innovation, and I am proud that they’ve backed the UK with a £1 billion investment into UK data centres and have established their European headquarters here – further cementing the UK’s position as an AI and tech superpower.
“We’re leaving no stone unturned to make the UK the best place for pioneering companies like CoreWeave to grow their roots. With the third highest number of AI companies and private investment in AI in the world, it’s clear our plan is working.”
Secretary of State of Science, Innovation, and Technology, Michelle Donelan said: “CoreWeave’s decision to base their European HQ here in London is not just a sign of our tech investment prowess, it is a resounding vote of confidence in our approach to AI and innovation. Today’s £1 billion investment will bring two new data centres to our shores, a vital tool in helping to develop the AI breakthroughs of tomorrow.
“It will also lead to new, highly paid jobs and countless opportunities for our brightest AI minds and start-ups as the UK continues to cement its global AI powerhouse credentials. Our message is clear – when it comes to investment, scaling-up, and innovation, the UK is the perfect home from home.”
CoreWeave’s new European headquarters in London is strategically located given the tremendous AI talent in the UK. The investment in the UK builds on the UK government’s established leadership fostering global awareness and engagement on responsible AI and the country’s commitment to drive investment with plans to upskill millions across the UK in AI. CoreWeave’s presence in the region will support the continued expansion of AI labs and enterprise customers across the UK, bringing much needed computing power to the UK.
CoreWeave’s existing data centres support some of the largest deployments of high-performance GPU clusters in the world, and the infrastructure through which those clusters are consumed is designed with engineers and innovators in mind. Trusted by leading AI labs and enterprises, CoreWeave Cloud manages complexity through automation to deliver the most performant and efficient cloud infrastructure for AI workloads.
About CoreWeave
CoreWeave is a specialized GPU cloud provider, designed to power the most complex workloads with customized solutions at scale. The company’s portfolio of cutting-edge technology delivers a broad range of capabilities for machine learning and AI, graphics and rendering, life sciences, real-time streaming, and more. Its world-class teams, talent, and engineering prowess bring unmatched speed-to-market for advanced compute. CoreWeave operates a growing footprint of data centers covering every region of the US. It was founded in 2017 and is based in New Jersey. Learn more at www.coreweave.com.
Contact
Jackson [email protected]
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