New York, Oct. 25, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Cloud Compliance Market Size, Share & Industry Trends Analysis Report By Organization Size, By Application, By Cloud Model, By Component, By Vertical, By Regional Outlook and Forecast, 2022 – 2028” – https://www.reportlinker.com/p06352713/?utm_source=GNW
One of the fundamental principles of the cloud is that there should be a self-service interface that makes it simple for users to sign up for, modify, and terminate cloud services.

The Gramm-Leach-Bliley Act, the Payment Card Industry Data Security Standard, and the Health Insurance Portability and Accountability Act (HIPAA) are some examples of common regulatory requirements (GLBA). It turns out that anyone today could be a victim. A department can start uploading data to the cloud right away with just a corporate credit card.

Shadow IT is the phrase used for this, and it is not new. These days, a lot of people use this phrase because of how clouds operate. One of the main drivers fueling market expansion is the rising prominence of web applications. Additionally, the use of cloud compliance solutions is being fueled by the development of new technologies and the growing penetration of IoT.

Compliance with laws and regulations that pertain to using the cloud is referred to as cloud compliance. The majority of businesses are utilizing the cloud because there are sound commercial justifications for doing so. The use of cloud computing is not prohibited by the legislation. But it does have a substantial influence.

COVID-19 Impact Analysis

Due to flexible working arrangements, enterprises are encountering data security breaches as a result of the lockdown enforced in the UK. Additionally, the use of cloud collaboration tools has increased. Therefore, for a safe remote working office environment, it is vital to secure cloud storage and follow the legislative compliances imposed by the EU. Industries in Germany are facing issues as a result of the COVID-19 pandemic. The worldwide demand for cloud compliance technology solutions is fueled by such strict rules. Regulations like the GDPR and the French Data Protection Act (FDPA) have tightened compliance with legal requirements in France to ensure cybersecurity.

Market Growth Factors

Rising Need For Automated Compliance In Large Enterprises

To maximize the advantages of moving to the cloud, the majority of large businesses have implemented a multi-cloud strategy. But this shift brings up two significant problems that are complexity and ineffective data management. This is particularly true for major enterprises that must adhere to the regulatory rules of several nations and have data centers dispersed over the globe.

Increasing Interest In CNAPP Solutions

As businesses expand, they frequently use a variety of products in several cloud environments, each with a different set of security constraints. Tools like CSPM, CWPP, and CASB are used by security teams to secure cloud infrastructure. However, this strategy introduces integration challenges and visibility gaps. It is challenging to identify and address security flaws and vulnerabilities because of how interconnected and interdependent everything is.

Market Restraining Factors

Lack Of Technical Knowledge And Experience

Due to the constantly shifting threat landscape, organizations struggle to stay up with the expanding cloud compliance requirements. They require a security team with the necessary technical skills and experience for developing, processing, analyzing, and safeguarding cloud solutions in order to guarantee continuous visibility into their cloud assets and lower the risk of cloud-based threats. Misconfigurations can result from improper information, and security teams are unable to use techniques like auto-remediation.

Component Outlook

Based on component, the cloud compliance market is segmented into software and services (managed services, professional services). In 2021, the software segment dominated the cloud compliance market by generating maximum revenue share. In domains including enterprise risk management, environmental health and safety, audits, training and qualification, and customer/supplier management, compliance software manages regulatory as well as standards requirements.

Application Outlook

On the basis of application, the cloud compliance market is fragmented into audit and compliance management, threat detection & remediation, activity monitoring & analytics, visibility & risk assessment and other applications. In 2021, the audit & compliance management segment held the largest revenue share in the cloud compliance market. An organization might find areas for improvement in regulatory compliance procedures by conducting internal or external compliance audits.

Cloud Model Outlook

By cloud model, the cloud compliance market is divided into infrastructure-as-a-service (IaaS), platform-as-a-service (PaaS), and software-as-a-service (SaaS). The platform-as-a-service (PaaS) segment registered a significant revenue share in the cloud compliance market in 2021. With the help of PaaS services, development and operations teams can access all the tools they require from any place with an internet connection.

Organization Size Outlook

Based on organization size, the cloud compliance market is classified into large enterprises and small & medium-sized Enterprises (SMEs). The small & medium-sized enterprise segment recorded a substantial revenue share in the cloud compliance market in 2021. It is important to recognize the crucial role technology plays in this context, as well as the individuals who give these services to those in need and eventually develop into trusted advisors who are incorporated into small and medium-sized businesses.

Vertical Outlook

By vertical, the cloud compliance market is banking, financial services, and insurance (BFSI), government, healthcare, IT & ITeS, retail & eCommerce, manufacturing, utilities and other verticals. The healthcare segment garnered a significant revenue share in the cloud compliance market in 2021. Due to healthcare laws and regulations, maintaining healthcare records in the cloud involves certain precautions. A turning point for the deployment of technology in the healthcare sector was the digitization of health records.

Regional Outlook

Region wise, the cloud compliance market is analyzed across North America, Europe, Asia Pacific and LAMEA. In 2021, the North America region led the cloud compliance market with the highest revenue share. United States based businesses place a high priority on digital transformation, and they are frequently recognized as early adopters of cutting-edge such as big data analytics, additive manufacturing, the Internet of Things (IoT), connected industries, AI, machine learning (ML), virtual reality (VR), and augmented reality (AR) as well as the newest telecommunications technologies like 5G, 4G, and LTE.

The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation are the forerunners in the Cloud Compliance Market. Companies such as AT&T, Inc. (AT&T Intellectual Property), IBM Corporation, are some of the key innovators in Cloud Compliance Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, IBM Corporation, Oracle Corporation, Broadcom, Inc. (Symantec Corporation), Qualys, Inc., Check Point Software Technologies Ltd., AT&T Inc. (AT&T Intellectual Property), Palo Alto Networks, Inc., Sophos Group PLC (Thoma Bravo), and Nutanix, Inc.

Recent Strategies Deployed in Cloud Compliance Market

Partnerships, Collaborations and Agreements:

Sep-2022: Palo Alto Networks extended its existing collaboration with Wipro, an Indian multinational corporation that provides information technology. Under this collaboration, the companies together deliver managed security & network transformation solutions like cloud security, SASE (Secure Access Service Edge), and next-generation SOC solutions based on Zero Trust principles for global enterprises. Further, the collaboration would accelerate the adoption of network & cloud security transformation for consumers across sectors.

Aug-2022: IBM today extended its existing partnership with VMware, an American cloud computing and virtualization technology company. This expansion of partnership would help global customers as well as partners modernize mission-critical workloads and expedite time to value in hybrid cloud environments. Under this partnership, IBM & VMware would help clients in regulated industries like healthcare, financial services, and the public sector address the cost, complexity & risk of migrating and modernizing mission-critical workloads in the cloud.

Aug-2022: Oracle collaborated with Anaconda, a provider of the world’s most popular data science platform. This collaboration focused on offering secure open-source Python and R tools & packages by embedding and allowing Anaconda’s repository across OCI AI and ML services.

Jun-2022: Oracle expanded its existing partnership with Commvault, a global enterprise leader in intelligent data services across on-premises, cloud, and SaaS environments. Under this partnership, Metallic’s industry-leading services would be offered on Oracle Cloud Infrastructure (OCI) as part of Commvault’s multi-cloud strategy and available in all commercial OCI regions worldwide.

Jun-2022: Oracle partnered with Kyndryl, an IT infrastructure services provider. This partnership would help consumers accelerate their journey to the cloud by delivering managed cloud solutions to enterprises across the globe. Under this partnership, Kyndryl would become a key delivery partner for OCI, expanding upon its deep experience of working with and supporting consumers using Oracle products & services.

Apr-2022: Microsoft came into a partnership with HCL Technologies, a next-generation global technology company. This partnership aimed at bringing security capabilities to clients globally. Through this partnership, the company would have accomplished all four advanced security specializations available to Microsoft partners that include identity & access management advanced specialization, threat protection advanced specialization, information governance and protection advanced specialization, and cloud security advanced specialization, validating Microsoft partners’ ability to deliver specialized security services in complex solution areas with Azure.

Mar-2022: Microsoft teamed up with EY, a multinational professional services partnership. This collaboration aimed at helping businesses across the globe, use technology to manage a range of rising complex challenges faced by legal & compliance teams. Moreover, the partnership would help businesses’ legal and compliance teams to identify & mitigate ethical and reputational risks; detect fraud; investigate and manage regulatory challenges, and manage privacy and security risks.

Feb-2022: Microsoft signed an agreement with Larsen & Toubro (L&T), an Indian multinational conglomerate company. This agreement would support the development of a regulated sector-focused cloud offering to empower consumers with cloud computing & infrastructure services.

Dec-2021: Microsoft signed an agreement with Temenos, a company specializing in enterprise software for banks and financial services. This agreement focused on fulfilling the rising demand from banks for SaaS & banking services delivered by the Temenos’ Banking Cloud.

Nov-2021: IBM collaborated with Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys. Under this collaboration, the Finacle Digital Banking Solution Suite would be available on Red Hat OpenShift & IBM Cloud for financial services. This collaboration would help banks scale business transformation in becoming more agile, and power their growth with an on-demand portfolio of products & services.

Sep-2021: Check Point Software Technologies entered into a partnership with Alkira, a cloud networking pioneer. This acquisition focused on providing Check Point Software’s CloudGuard firewalls in Alkira’s Cloud Network infrastructure as-a-Service (CNaaS).

Jun-2021: Nutanix partnered with Hewlett Packard Enterprise, an American multinational information technology company. This partnership focused on accelerating hybrid cloud and multi-cloud adoption by offering Nutanix Era, a multi-database operations and management solution, combined with HPE ProLiant servers, as a service through HPE GreenLake. This fully managed cloud service would allow consumers to deploy applications and databases in minutes and benefit from the agile, elastic, and pay-per-use capabilities of the cloud along with getting the governance, visibility, and compliance of an on-premises environment.

Apr-2021: Broadcom teamed up with Google Cloud, a suite of cloud computing services. This collaboration focused on accelerating innovation and strengthening cloud services integration within the core software franchises. Through this partnership, Broadcom would deliver its suite of security & enterprise operations software on Google Cloud, allowing businesses to employ Broadcom solutions in security, DevOps, and more on Google Cloud’s trusted, global infrastructure.

Mar-2021: Qualys extended its existing partnership with HCL Technologies, a leading global technology company. This partnership would include the embedding of Qualys VMDR (Vulnerability Management, Detection, and Response) into the HCL Technologies CyberSecurity Fusion Center (CSFC). With this partnership, HCL Technologies’ CSFC consumers would have access to Qualys VMDR, which provides an all-in-one, cloud-based app that automates the entire vulnerability management cycle.

Nov-2020: Qualys Came into a partnership with Armor, a global provider of cybersecurity software. Under this partnership, Armor would integrate the Qualys CloudView app, which includes Cloud Inventory & Cloud Security Assessment, into Armor Anywhere, an industry-leading cloud security platform.

Oct-2020: Qualys partnered with Digital China, the largest value-added provider of integrated IT products, solutions, and support for enterprises. This partnership allows consumers in China to leverage the power of the Qualys Cloud Platform to integrate apps like Vulnerability Management, Detection and Response, Multi-Vector EDR, and the upcoming Security Analytics & Incident Response solution all in a single Qualys Cloud console.

Product Launches and Product Expansions:

Jul-2022: Microsoft launched Microsoft Cloud for Sovereignty, a new solution for public sector customers. Through this launch, the public sector consumers would have greater control over their data and growing transparency of the operational and governance processes of the cloud.

Apr-2022: Sophos expanded its existing Sophos Cloud Workload Protection by adding inux host and container security capabilities. This expansion aimed at accelerating the detection & response of in-progress attacks and security incidents within Linux operating systems, improving security operations, and bolstering application performance.

Feb-2022: Nutanix launched the Nutanix Cloud Manager solution, a new chapter in hybrid multi-cloud management. Nutanix Cloud Manager (NCM) would bring simplicity and ease of use to building and managing cloud deployments.

Nov-2021: AT&T introduced AT&T Government Trusted Internet, an integrated, managed cybersecurity solution. The launch would help U.S. federal agencies modernize & protect their IT infrastructure in compliance with Trusted Internet Connection (TIC) 3.0 cybersecurity guidance.

Mar-2021: IBM Security introduced Cloud Native Security Services, New advisory and managed security services, Cloud Security Posture Management, latest and improved advisory & managed security services. This launch would help businesses manage their cloud security strategy, policies, and controls across hybrid cloud environments. These services bring together cloud-native, IBM, and third-party technologies along with IBM’s expertise to help businesses create a unified security approach across their cloud ecosystems.

Acquisitions and Mergers:

May-2022: Broadcom signed an agreement to acquire Vmware, an American cloud computing and virtualization technology company. This acquisition would offer users more flexibility in building, managing & connecting applications at a greater scale from data centers, across multiple clouds from leading providers, and out to the edge.

Feb-2022: Check Point Software Technologies signed an agreement to acquire Spectral, an Israeli startup and key innovator in developer-first security tools designed by developers for developers. This acquisition aimed at extending Check Point’s cloud solution, Check Point CloudGuard, with a developer-first security platform, and providing the widest range of cloud application security use cases that includes Infrastructure as Code (IaC) scanning & hardcoded secrets detection.

Aug-2021: Qualys announced the acquisition of TotalCloud, a cloud management platform startup. This acquisition would strengthen the Qualys Cloud Platform, which provides visibility into every IT asset within an organization across on-premises, cloud, containers, and endpoints.

Jul-2021: Microsoft took over CloudKnox, a Cloud Infrastructure Entitlement Management (CIEM) leader. This acquisition would help organizations right-size permissions and consistently enforce least-privilege principles to eliminate risk, and it deploys continuous analytics that helps prevent security breaches & ensure compliance. This acquisition would further strengthen the comprehensive approach to cloud security. Also, the acquisition would enable Microsoft Azure Active Directory’s consumers with granular visibility, continuous monitoring & automated remediation for hybrid and multi-cloud permissions.

Jun-2021: IBM completed the acquisition of Turbonomic, an Application Resource Management, and Network Performance Management software provider. This acquisition would complement IBM’s recent acquisition of Instana for APM and observability, as well as the launch of IBM Cloud Pak for Watson AIOps to automate IT Operations by using artificial intelligence (AI).

Jun-2020: IBM announced the acquisition of Spanugo, a US-based provider of cloud cybersecurity posture management solutions. This acquisition focused on addressing the security demands of its clients in highly regulated industries.

Geographical Expansions:

Oct-2021: Oracle expanded its geographical footprints in 14 regions by expanding its cloud region. The cloud region is expanded to Milan (Italy), Stockholm (Sweden), Marseille (France), Spain, Singapore (Singapore), Johannesburg (South Africa), Jerusalem (Israel), Mexico, and Colombia.

Oct-2021: Qualys expanded its geographical footprints in Australia / New Zealand, and the United Kingdom by establishing two new multi-tenant cloud platforms. This expansion would help Qualys to meet increased consumer demand while also expanding global operations.

Scope of the Study

Market Segments covered in the Report:

By Organization Size

• Large Enterprises

• Small & Medium-sized Enterprises (SMEs)

By Application

• Audit & Compliance Management

• Threat Detection & Remediation

• Activity Monitoring & Analytics

• Visibility & Risk Assessment

• Others

By Cloud Model

• Software-as-a-Service (SaaS)

• Infrastructure-as-a-Service (IaaS)

• Platform-as-a-Service (PaaS)

By Component

• Software

• Services

o Professional Services

o Managed Services

By Vertical

• BFSI

• IT & ITeS

• Retail & Ecommerce

• Government

• Healthcare & Life Sciences

• Utilities

• Manufacturing

• Others

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• Microsoft Corporation

• IBM Corporation

• Oracle Corporation

• Broadcom, Inc. (Symantec Corporation)

• Qualys, Inc.

• Check Point Software Technologies Ltd.

• AT&T, Inc. (AT&T Intellectual Property)

• Palo Alto Networks, Inc.

• Sophos Group PLC (Thoma Bravo)

• Nutanix, Inc.

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Read the full report: https://www.reportlinker.com/p06352713/?utm_source=GNW

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