Multi-Cloud Security Market Was Valued Over US$10.936 Billion In 2022, To Experience Significant Growth

(MENAFN- EIN Presswire)

The multi-cloud security market was valued at US$10.936 billion in 2022.

The multi-cloud security market was valued at US$10.936 billion in 2022.” - Knowledge Sourcing IntelligenceNOIDA, UTTAR PARDESH, INDIA, February 19, 2024 /EINPresswire / -- According to a new report published by Knowledge Sourcing Intelligence, forecasted between 2022 and 2029, the multi-cloud security market was valued at US$10.936 billion in 2022 and is anticipated to propel significantly over the coming years.

Multi-cloud security AIDS in protecting data centers by providing comprehensive coverage against potential threats and vulnerabilities. The establishment of new data centers and several investments in cybersecurity & multi-cloud networking bolstered the growth of the multi-cloud cloud security market. For instance, in September 2023, Colt Data Center Services (DCS), a global provider of hyperscale and large enterprise data center solutions, announced the launch of its first data center in India, providing customers with tremendous flexibility and scalability. Additionally, in November 2023, Fujitsu Spain signed an agreement with the Andalusian Regional Government to strengthen the regional healthcare cybersecurity ecosystem.

Multi-cloud security is a method of securing data and applications distributed across multiple cloud service providers. It involves putting in place a comprehensive security strategy to safeguard sensitive data, preserve privacy, and ensure compliance in complex cloud environments and is divided into two cloud types private cloud and public cloud . Additionally, growing digitalization propels the growth of the multi-cloud security market.

Several product launches and innovations are taking place in the market, propelling the growth of the multi-cloud security market. For instance, in October 2022, Sitecore announced the launch of its three new public cloud products and Services to remove CX Barriers and improve customer engagement. Additionally, in February 2022, Microsoft announced the availability of new security solutions to help customers improve visibility and control throughout multiple cloud providers, workloads, devices, and digital identities.

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The multi-cloud security market, based on cloud type is segmented into two main categories namely private, and public. The private cloud is expected to hold a considerable share as it is operated exclusively for one organization, providing dedicated resources and enhanced security measures. The private cloud gives organizations more control over their data and allows them to tailor security protocols to their specific needs which allows them to maintain strict compliance and protect sensitive information.

The multi-cloud security market, based on enterprise size is segmented into three main categories namely small, medium, and large. Large enterprises are anticipated to account for a major market share as they frequently use multi-cloud security as it improves data security and protects against potential cyber threats. Large enterprises can improve durability by distributing their applications and data across multiple cloud providers. Multi-cloud security enables large enterprises to capitalize on the strengths and capabilities of various cloud providers, as well as leverage the unique features offered by each provider.

The multi-cloud security market, based on end-users is segmented into five main categories namely BFSI, IT & telecommunication, retail & e-commerce, medical & healthcare, and others. The BFSI sector widely utilizes multi-cloud security as it deals with extremely sensitive and confidential customer data, such as financial transactions and personal information, and by leveraging multi-cloud security, these organizations can distribute their data and applications across multiple cloud platforms, reducing the risk of a single point of failure or data breach. Additionally, multi-cloud security improves reliability, ensuring that critical services remain available even if a cloud provider experiences downtime or disruption.

North America is projected to account for a significant share of the multi-cloud security market due to numerous establishments and investments in the major economies in the region. For instance, in November 2023, Zoho Corporation announced the opening of two new data centers in Montreal and Toronto, providing Canadian customers with localized data storage and processing. Additionally, in February 2023, The government of Canada announced $1.9 million in funding for research projects to enhance cyber security. Moreover, in March 2023, the Biden-Harris administration issued the National Cybersecurity Strategy to ensure that all Americans benefit from a safe and secure digital ecosystem.

The research includes coverage of Fujitsu Limited (Furukawa Group), Entrust Corporation, Wipro, VMWare Inc., Microsoft, Check Point Software Technologies Ltd., Netskope Inc., and CrowdStrike Holdings Inc. are significant market players in the multi-cloud security market.

The market analytics report segments the multi-cloud security market as follows:

.By Cloud Type

oPrivate
oPublic

.By Enterprise Size

oSmall
oMedium
oLarge

.By End-User

oBFSI
oIT & Telecommunication
oRetail & E-commerce
oMedical & Healthcare
oOthers

.By Geography

oNorth America

.USA
.Canada
.Mexico

oSouth America

.Brazil
.Argentina
.Others

oEurope

.Germany
.UK
.France
.Spain
.Others

oMiddle East and Africa

.Saudi Arabia
.UAE
.Others

oAsia Pacific

.China
.Japan
.South Korea
.India
.Australia
.Others

Companies Profiled:

.Fujitsu Limited (Furukawa Group)
.Entrust Corporation
.Wipro
.VMWare Inc.
.Microsoft
.Check Point Software Technologies Ltd.
.Netskope Inc.
.CrowdStrike Holdings Inc.

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Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
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