Cloud Compliance Market Worth $59.1 Billion By 2027 - Exclusive Report by MarketsandMarkets(TM)
Tuesday, September 20, 2022
CHICAGO, Sept. 12, 2022 /PRNewswire/ -- Cloud Compliance Market is projected to grow from USD 30.0 billion in 2022 to USD 59.1 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 14.5% during the forecast period, according to a new report by MarketsandMarkets(TM). The growth of the Cloud Compliance Market can be attributed to the growing need among organizations to meet cloud compliance standards. Moreover, the surge in cloud adoption during the COVID-19 pandemic fuels the growth of the Cloud Compliance Market.
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By services, the professional services subsegment is expected to account for the largest market size during the forecast period
The professional services subsegment is expected to account for the largest market share among services. Professional services provided by cloud service providers (CSPs) help organizations accelerate the deployment by following and adopting the best practices. The technicalities in implementing cloud compliance solutions are expected to fuel the demand for professional services.
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By cloud model, the IaaS segment is expected to grow at a higher CAGR during the forecast period
The Infrastructure-as-a-Service (SMEs) segment is expected to account for a higher CAGR growth during the forecast period. IaaS provides virtualized computing resources, virtual networking, virtual storage, and virtual machines; and is hosted by cloud computing vendors. The use of IaaS is increasing due to the low upfront costs associated with its deployment. Enterprises do not need to maintain or purchase hardware for the same.
By region, North America is expected to account for the largest market size during the forecast period
North America is expected to account for the largest share in the Cloud Compliance Market. North America, for this study, includes the US and Canada. It is one of the most technologically advanced regions in the world. The region is well-connected with advanced infrastructure, which helps cloud compliance vendors offer quality services to their clients. It offers the most innovative and fastest services available in the world through its network infrastructure. The Cloud Compliance Market in North America is competitive due to the presence of a large number of solution providers. The market in this region is already at a mature stage and is expected to witness slower growth compared to the other regions. The key growth driver of the North American Cloud Compliance Market is the presence of most top market vendors, such as Microsoft, IBM, AT&T, Broadcom, Qualys, and Nutanix.
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Market Players
The major vendors in the Cloud Compliance Market include Microsoft (US), IBM (US), Check Point (Israel), AT&T (US), Broadcom (US), Qualys (US), Nutanix (US), Sophos (UK), Oracle (US), and Palo Alto Networks (US).
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SOURCE MarketsandMarkets
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