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Cloud Application Security Market Projected to Reach USD 18.04 Billion at a 15.20% CAGR by 2030 – Report by Market Research Future (MRFR)

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New York, USA, May 02, 2023 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), ” Cloud Application Security Market: By Component, By Organization Size, By Industry Vertical, By Region and Forecast till 2030”, the market is predicted to thrive substantially during the assessment era from 2023 to 2030 at a healthy CAGR of approximately 15.20%  to attain a valuation of around USD 18.04 Billion by the end of 2030.

Companies are increasingly moving business-critical workloads to the cloud as it increases employee flexibility and reduces IT costs. However, concerns about security and visibility also rise, which can risk an organization’s security. In such a scenario, cloud application security help to strike the right balance, supporting access while maintaining control to protect critical data.

Key players leading the global cloud application security industry include,

  • Cisco Systems Inc. (US)
  • Microsoft Corporation (US)
  • Fortinet Inc. (US)
  • Bitglass Inc. (US)
  • Symantec Corporation (US)
  • Oracle Corporation (US)
  • Proof point Inc. (US)
  • Palo Alto Networks Inc. (US)
  • Netskope Inc. (US)
  • Cipher Cloud (US)
  • Censor Net Ltd. (UK)
  • Skyhigh Networks (US)
  • Trend Micro Inc. (Japan)
  • IBM Corporation (US)
  • Zscaler (US)
  • Juniper Networks Inc. (US)
  • McAfee Inc. (US)

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Report Scope:

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Report Metrics Details
Market Size by 2030 USD 18.04 Billion (2030)
Market CAGR during 2023-2030 15.20%
  Base Year 2022
  Forecast 2023-2030
 Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
 Key Market Drivers Security breaches target business-critical cloud applications.

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Moreover, organizations that have utilized innovation and digital transformation to remain competitive have led to dramatic development in digital technologies and cloud computing. The proliferation of the cloud computing domain has enabled new, complex business models and orchestrated more globally-based integration networks that predominantly drive the demand in the cloud application security market. 

Additional factors boosting the growth of the market include the penetration of ubiquitous artificial intelligence technology and The security infrastructure and critical cloud applications that organizations are targeting to overcome compliances and maintain strong compliance requirements. 

Recent data breaches and security concerns plaguing the business on the insecurity of data and assets in the cloud are some of the key driving forces behind the market. Moreover, various cloud application security solutions, including data protection, cloud application discovery, analytics and reporting, and threat protection, are boosting the growth of the cloud application security market.

Industries such as banking, government, telecom, financial services, etc., traditionally following the On-Prem model, are increasingly moving some of their services and solutions to the cloud, which fosters market growth.

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Segments

The cloud application security market report is segmented into components, organization size, verticals, and regions. The component segment is sub-segmented into data protection, cloud application discovery, analytics & reporting, threat protection, and others. 

The organization size segment is sub-segmented into small & medium-sized enterprises and large enterprises. The vertical segment is sub-segmented into BFSI, government & defense, IT & telecom, healthcare, retail, and others. By regions, the cloud application security market is sub-segmented into Asia-Pacific, North America, Europe, and the rest of the world.

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Competitive Analysis 

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Fiercely competitive, the cloud application security market appears fragmented due to various large and small-scale players. Matured players are substantially investing in transforming the business landscape in the future. Top companies are developing advanced technology solutions to maintain themselves in the market competition. 

These market leaders are substantially investing in R&D to innovate new products continuously. They invest heavily to support their expansion strategies and acquire small yet promising companies from emerging regions. 

Key players are incorporating strategic initiatives such as partnership, collaboration, acquisition, product & technology launch, and expansion to gain an edge over their competitors and thus to stay ahead in this market.

Security and data protection technology leaders partner with global distribution companies to expand the reach of their cloud-enabled security solutions in various countries. Such deals present huge opportunities for market players to support their customers with leading-edge cloud-enabled security and data protection solutions. The comprehensive channel approach encompassing sales, technical, logistics, and marketing support and services enables them to drive growth in this promising segment and geography.

For instance, on Apr. 20, 2023, Cyber Security Cloud Inc., a leading provider of cutting-edge automation solutions, announced a strategic partnership with Ordinary Experts, a leading cloud computing firm, to enhance web application security. Cyber Security Cloud offers a cutting-edge solution, WafCharm, that automates the AWS WAF operation and management.  

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WafCharm’s innovative web application firewall management technology will enhance Ordinary Experts’ cybersecurity services. The partnership enables Cyber Security Cloud Inc. to provide its clients with an integrated approach to web application security, leveraging WafCharm’s advanced technology and Ordinary Experts’ extensive cybersecurity expertise.

Regional Analysis

The North American region heading with the increasing demand due to the rising rate of cloud security infrastructure, dominates the global cloud application security market. The region, led by vast technological advancements, offers a favorable platform for cloud application security to evolve further. 

Factors such as the increasing demand for security solutions from growing businesses cloud computing market substantiate the market growth in the region. Also, factors such as the rapid adoption of AI and cloud computing are some of the significant driving forces contributing to the cloud application security market in the region. 

The Cloud Application Security market in the European region accounts for the second-largest market globally. Vast technological advancements and the proliferation of artificial intelligence (AI) and intelligent connected devices are some of the major factors positively impacting the market growth in the region. 

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Furthermore, the well-established infrastructure in the region propels market growth, allowing faster implementation of advanced technologies. The increasing number of cyber-attacks in the burgeoning automotive and IT industry in this region is a key driving force pushing up the growth of the cloud application security market in the European region. 

The Asia Pacific cloud application security market is increasing. Factors such as the increasing number of businesses in developing countries inclined toward automation and increasingly adopting IoT devices are fostering the growth of the regional market. 

Besides, the proliferation of artificial intelligence (AI), smart, connected, portable devices, and the burgeoning IT sector are major tailwinds to growth in the regional market. Also, the increasing number of prominent players in this market drives the APAC cloud application security market.

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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.

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Artificial Intelligence

KMS Lighthouse and lastminute.com Triumph with a Double Win at the Global Sourcing Association (GSA) 2024 Awards

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TEL AVIV, Israel, June 17, 2024 /PRNewswire/ — KMS Lighthouse, a global leader in knowledge management, is proud to announce its remarkable achievement of winning two prestigious awards with lastminute.com at the Global Sourcing Association (GSA) 2024 Awards. The brands were honored in the following categories:

Retail Programme of the Year: lastminute.com and KMS Lighthouse LimitedTechnology Enabled Programme of the Year (Automation/AI): lastminute.com and KMS Lighthouse LimitedKMS Lighthouse was also a finalist in the Service Provider of the Year category.
The awards were presented on June 11, 2024, at a glittering ceremony held at Richmond Hill Hotel, as part of the GSA Festival of Sourcing. Celebrating its 21st year, the GSA Awards recognize organizations that demonstrate exceptional best practices in strategic sourcing.
Sagi Eliyahu, CEO of KMS Lighthouse Limited commented “We are absolutely delighted to have won these two esteemed awards. This recognition underscores the tireless dedication and innovation of our teams in delivering exceptional knowledge management solutions to our clients. I would like to extend my heartfelt gratitude to our partners at lastminute.com. The synergy and true partnership we have formed exemplify the collaborative spirit needed to drive outstanding results.”
“We are thrilled to celebrate these award wins with KMS Lighthouse,” said Walter Di Lello, Knowledge Manager & Procedure Team Leader at lastminute.com. “This achievement is a testament to the hard work and dedication of both our teams. The collaborative partnership approach we have fostered with KMS Lighthouse has been pivotal in delivering innovative and impactful solutions. Thank you to everyone involved for their relentless commitment and excellence.”
This double accolade highlights KMS Lighthouse’s unwavering commitment to excellence, innovation, and effective collaboration. The successful partnership with lastminute.com has not only enhanced the retail sector’s capabilities but also set new standards in automation and AI-driven solutions.
About KMS Lighthouse:
KMS Lighthouse is a global leader in knowledge management solutions, providing innovative platforms that enhance organizational knowledge sharing and decision-making. Through advanced AI and automation technologies, KMS Lighthouse enables businesses to improve customer service, streamline operations, and achieve higher efficiency.
About lastminute.com
lastminute.com is the European Travel-Tech leader in Dynamic Holiday Packages. Our mission is to simplify, personalise, and enhance our customers’ travel experience by leveraging technology. Thanks to the iconic brand lastminute.com and a rich portfolio of vertical brands, we meet the most diverse needs of travellers across the entire holiday experience. As one of the few fully licensed European tour operators, we offer unlimited real-time travel combinations thanks to our proprietary Dynamic Holiday Packaging engine, providing additional customer protection and exclusive deals. lastminute.com N.V. is a publicly traded company listed under the ticker symbol, LMN on the SIX Swiss Exchange.
Media Contact:KMS Lighthouse [email protected] [email protected]://www.linkedin.com/company/kms-lighthouse/https://kmslh.com/

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CluePoints Continues ‘Turning Artificial Intelligence into Human Intelligence’ by Launching Two New Innovations

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Site Profile & Oversight Tool (SPOT) and Intelligent Medical Coding (IMC) unveiled by RBQM innovator at DIA Global Annual Meeting 2024
KING OF PRUSSIA, Pa., June 17, 2024 /PRNewswire/ — CluePoints, provider of leading statistical and AI-driven software solutions, will unveil two of its latest advanced, deep learning technology innovations at the DIA Global Annual Meeting 2024. Both solutions deliver groundbreaking enterprise platform transformations providing Sponsors and CROs with a smarter way to conduct clinical research and detect and manage risks that could impact clinical trial outcomes.

Taking RBQM to a new level, CluePoints’ Site Profile & Oversight Tool (SPOT) delivers adaptive site monitoring, enabling teams to swiftly pinpoint anomalies and translate insights into strategies and actions. Sponsors and CROs can improve their ability to evaluate the performance of clinical trial sites and adjust site visit plans more effectively and efficiently while accurately balancing risk and resource workload.
Further streamlining processes, CluePoints’ Intelligent Medical Coding solution harnesses advanced deep learning technology to enhance the accuracy and efficiency of coding in clinical trials. It seamlessly integrates with existing systems to offer precise, AI-generated coding suggestions, drastically reducing the need for manual dictionary searches and costly coding reviews, freeing up valuable resources and ensuring uniformity across all coded data.
Andy Cooper, CEO of CluePoints, said: “DIA offers the perfect opportunity to share with the industry our latest disruptive and innovative solutions that address key challenges within traditional clinical research methods. Unveiling two new products that leverage next generation AI will transform how CluePoints is viewed in the industry, as we enhance our enterprise-wide solutions to reach new levels of accuracy and efficiency to both improve clinical trial performance and deliver greater insights to further mitigate risk. Our early adopters are already raving about how valuable they are finding both product offerings and we are excited to showcase how they will shape future processes and embody our brand promise to ‘turn artificial intelligence into human intelligence.”
With over 9,500 users engaged with CluePoints’ enterprise platform, to date over 1,600 studies have been de-risked and over 142,000 issues detected.
Visitors to the CluePoints’ DIA Global exhibition booth #1301 will have the opportunity to meet with subject matter experts and see demonstrations of both new platform solutions.
CluePoints also invites DIA attendees to join them at 3pm on Tuesday, June 18th, for a special toast at their booth to celebrate the latest innovations.  
To learn more about CluePoints’ award-winning solutions, please visit www.cluepoints.com.
About CluePoints
CluePoints is the premier Risk-Based Quality Management (RBQM) and Data Quality Oversight Software provider. We are leveraging the potential of artificial intelligence using advanced statistics and machine learning to determine the quality, accuracy, and integrity of clinical trial data both during and after study conduct. Aligned with guidance from the FDA, EMA, and ICH E6 (R2), CluePoints is deployed to support central and on-site monitoring, medical review, quality risk management and to drive a holistic Risk-Based strategy in all trials. Coupled with thought leadership and consulting expertise to aid pre-study risk assessment, identification of risk controls and solution implementation, you now have everything you need to adhere with global regulatory guidance. The result is positive clinical development outcomes, increased operational efficiency, lower costs and reduced regulatory submission risk as part of the industry paradigm shift to RBQM.
 

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ComplyCube Launches Trust Center with the Most Complete Compliance Posture in the Market

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LONDON, June 17, 2024 /PRNewswire/ — ComplyCube, a RegTech100 global leader in identity verification and compliance solutions, proudly announces the launch of its comprehensive Trust Center. This new initiative emphasizes ComplyCube’s unrivaled compliance posture, redefining security and privacy for IDV, KYC, and AML platforms. With over fifty continuously monitored controls, the AI-powered SaaS leads the way in ensuring clients stay ahead of international regulations and standards.

The Trust Center provides real-time updates on security measures, compliance statuses, and operational transparency, empowering clients to meet regulatory requirements confidently and allowing them to view ComplyCube’s compliance posture on demand. This platform is engineered to enhance transparency, build trust, and streamline compliance processes for organizations worldwide.
ComplyCube unveils its unrivaled compliance posture, redefining security and privacy for IDV, KYC, and AML platforms. With over fifty continuously monitored controls, ComplyCube leads the way in ensuring clients stay ahead of international regulations and standards.
Key Features of the Trust Center:
Real-Time Compliance Dashboard: Live updates on compliance metrics and security statuses.Comprehensive Resource Hub: Access to essential documents, certifications, and regulatory guidelines.Incident Reporting and Tracking: Full transparency in reporting and monitoring security incidents.Tarek Nechma, CEO of ComplyCube, remarked, “The launch of the Trust Center marks a pivotal milestone in our mission to build trust at scale and deliver state-of-the-art compliance solutions. This platform will empower our clients to navigate the complexities of regulatory landscapes with confidence.”
Non-compliance costs are 2.71 times higher than the costs of maintaining or meeting compliance requirements. Another study indicates that companies with strong compliance programs can reduce incident costs by up to 30%. On top of this, 84% of businesses encounter compliance challenges that can lead to significant financial and reputational damage. ComplyCube’s Trust Center aims to further mitigate these risks by providing tools that help businesses maintain and improve their compliance posture.
Mohamed Alsalehi, CTO of ComplyCube, stated, “We design our systems to be compliant by design with the stringent laws and regulations. This proactive approach ensures our clients can meet and exceed compliance requirements effortlessly.”
Joshua Dent, Business & Partnerships Manager, added, “The Trust Center showcases ComplyCube’s adherence to a multitude of globally recognized standards and data protection regulations. Clients and partners can find answers to many of their data protection questions, view active controls, and request documents to fulfill due diligence. It’s fantastic to see this go live following our latest certifications, such as UK DIATF, ISO 9001, PAD Level 2, and ISO 27001:2022 upgrade.”
ComplyCube continues to set industry standards with its innovative solutions, and the Trust Center’s launch underscores its mission to support businesses in achieving compliance excellence.
For more information about the Trust Center, visit ComplyCube Trust Center.
About ComplyCubeComplyCube is a leading provider of identity verification and compliance solutions, helping organizations across various sectors secure their operations and meet regulatory requirements. With a focus on innovation and customer satisfaction, ComplyCube delivers reliable and efficient services that empower businesses to thrive in a complex regulatory environment.
About VantaVanta is a leading trust management platform that automates compliance and streamlines security reviews for SaaS businesses. It helps companies manage risk and prove security in real-time, ensuring adherence to global standards and data protection regulations. With Vanta’s Trust Center, businesses can efficiently manage compliance processes and demonstrate their commitment to security and trust.
 
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