Cloud Compliance Market Size Worth $129.03 Billion By 2032 | CAGR: 14.7%

Cloud Compliance Market Size Worth $129.03 Billion By 2032 | CAGR: 14.71%

The global cloud compliance market size is expected to reach USD 129.03 billion by 2032, according to a new study by Polaris Market Research. The report “Cloud Compliance Market Share, Size, Trends, Industry Analysis Report, By Component (Software, Services); By Application; By Cloud Model; By Organization Size; By Vertical; By Region; Segment Forecast, 2023-2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Increasing demand for this software will fuel the market's growth in the upcoming years. According to a 2020 Centrify & CensusWide poll, 43% of the organizations surveyed had yet to make plans to migrate to the cloud by March 2020 fully. However, due to the COVID-19 outbreak, 48% are already streamlining their preparations for cloud migration, and about 36% intend to use cloud technology to digitize more of their business activities. The sudden shift to remote work in response to the Pandemic has accelerated the adoption of cloud computing and other digital technologies, leading to an increased demand for cloud-based solutions and services. This has pressured organizations to ensure their cloud infrastructure and data meet regulatory and compliance requirements.

The sudden shift to remote work due to lockdowns and social distancing measures has created new vulnerabilities in many security systems. Cybercriminals have taken advantage of the sudden change in work habits and increased dependence on digital technology to launch more frequent and sophisticated attacks. With more people working from home and accessing company networks and systems remotely, the attack surface has expanded, making it easier for cybercriminals to access sensitive information. 

According to the Data Analysis by Purple sec US, a 600% increase in cybercrime has been observed from the start of the pandemic. 380% increase in the rate of ransom attacks since 2018. 60% of small and medium enterprises go under Cyber-attack within six months. These factors will further fuel the growth and demand for the market in the upcoming years.

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By leveraging cloud solutions, organizations can reduce their IT costs and free up resources that can be invested in other areas, such as innovation and growth. For instance, migrating to the cloud can save 30% to 50% for Oracle Cloud clients. Cloud compliance solutions can help organizations comply with regulations while reducing costs. The growing awareness of cybersecurity threats drives the demand for cloud compliance solutions as organizations look to ensure that their data and systems remain secure and protected against cyber-attacks.

Cloud Compliance Market Report Highlights

  • Managed Services subsegment is anticipated to witness significant growth rate in coming years due to the Increasing demand for specialized services by firms
  • Software as a service model accounted for the higher growth rate owing to the cost-effective way to manage compliance needs to the business organizations.
  • Large Enterprise segment is projected to experience a significant growth rate due to its advantages such as it manages their data more effectively and ensures that it remains secure.
  • Healthcare segment is expected to have a higher growth rate owing to the growing need for secure and compliant solutions in the healthcare industry.
  • North America is expected to have a larger revenue share owing to the high rate of adoption of cloud compliance.
  • The global players include Microsoft, IBM, Check Point, AT&T, Broadcom, Qualys, Nutanix, Sophos, Oracle and Palo Alto Networks.

Polaris Market Research has segmented the cloud compliance market report based on component, application, cloud model, organization size, vertical and region:

Cloud Compliance, Component Outlook (Revenue - USD Billion, 2019 - 2032)

  • Software
    • Cloud Security Posture Management
    • Cloud Workload Protection Platform
    • Cloud Access Security Broker
    • Cloud Native Application Protection Platform
  • Services
    • Managed Services
    • Professional Services

Cloud Compliance, Cloud Model Outlook (Revenue - USD Billion, 2019 - 2032)

  • Infrastructure-as-a-Service (laaS)
  • Platform-as-a-Service (PaaS)
  • Software-as-a-Service (SaaS)

Cloud Compliance, Application Outlook (Revenue - USD Billion, 2019 - 2032)

  • Audit and Compliance Management
  • Threat Detection and Remediation
  • Activity Monitoring and Analytics
  • Visibility and Risk Assessment

Cloud Compliance, Organizational Size Outlook (Revenue - USD Billion, 2019 - 2032)

  • Large Enterprises
  • Small and Medium Enterprises

Cloud Compliance, Vertical Outlook (Revenue - USD Billion, 2019 - 2032)

  • Banking, Financial Services and Insurance (BFSI)
  • Government
  • Healthcare
  • IT and ITeS
  • Retail and e-commerce
  • Manufacturing
  • Utilities

Cloud Compliance, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
  • Latin America
    • Argentina
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Israel
    • South Africa