Cloud Security Market size in the Retail Sector to grow by USD 4.58 billion between 2022 to 2027, growth of E-commerce industry to boost the market – Technavio

NEW YORK, Nov. 13, 2023 /PRNewswire/ — The cloud security market in the retail Sector by solution (cloud IAM, cloud e-mail security, cloud IDS/IPS, and cloud DLP), end-user (large enterprises and SMEs), and geography (North America, Europe, APAC, Middle East and Africa, and South America) – Forecast and Analysis 2023-2027 report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the cloud security market in the retail market between 2023 and 2027 is USD 4.58  billion. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

E-commerce growth boosts the market during the forecast period. Some of the main factors that are fuelling the market growth include the  rapid growth of e-commerce and the need for robust cloud security solutions for protecting sensitive customer information and transaction data, as well as intellectual property, from cyber threats

Market Challenge –

Data privacy and compliance are major challenges hindering market growth. Several retailers across the world manage a large amount of sensitive customer data, ranging from payment information to personal information. In addition, there are strict regulations in place for the handling, storage, and safeguarding of customer data. Hence, such factors are negatively impacting the market which in turn hinder the market growth during the forecast period.

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The cloud security market in the retail market has been segmented by solution (cloud IAM, cloud e-mail security, cloud IDS/IPS, and cloud DLP), end-user (large enterprises and SMEs), and geography (North America, Europe, APAC, Middle East and Africa, and South America). 

The market share growth by the cloud IAM segment is significant during the forecast period. There is a dynamic transformation in the retail industry with the adoption of cloud-based solutions to improve security, automate processes, and provide a smooth customer journey. In addition, they offer robust authentication methods, like multi-factor authentication, to stop unauthorized access. Hence, such factors drive the market growth.North America accounts for 31% of the growth of the global market during the forecast period. Factors such as the strong technological infrastructure and well-developed cybersecurity ecosystem, are fuelling the growth of the market in North America. Hence, such factors drive the market growth in North America during the forecast period.

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Key Companies in the Cloud Security Market in the Retail Market:

AccuKnox Inc., Akamai Technologies Inc., Alphabet Inc., Amazon.com Inc., Ascend Technologies LLC, Banyan Data Services, Caveonix Inc., Check Point Software Technologies Ltd., CrowdStrike Holdings Inc., Data Theorem Inc., Dell Technologies Inc., Ermetic Ltd., F5 Inc., Fidelis Cybersecurity Inc., FireMon LLC, Forcepoint LLC, Fortinet Inc., Fortra LLC, Lookout Inc., and Cisco Systems Inc.

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The cyber weapon market size is estimated to grow at a CAGR of 11.21% between 2022 and 2027. The market size is forecast to increase by USD 8.08 billion.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Solution

Market Segmentation by End-user

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio