Global Cloud Compliance Market Size Will Reach USD 129.03 Billion By 2032, at 14.71% CAGR: Polaris Market Research

New York, NY, April 12, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “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” in its research database.

“According to the latest research analysis, the global cloud compliance market size/share is anticipated to be valued at approximately USD 32.77 billion in 2022 and is projected to hit a revenue of around USD 129.03 Billion by 2032, at a CAGR of around 14.7% between 2023 and 2032.”

What is Cloud Compliance? How Big is Cloud Compliance Market Size?

• Overview

Cloud compliance, the art, and science of adhering to regulatory standards and industry guidelines is crucial to ensure secure and lawful cloud usage. As India's information and communication technology landscape expands, cybercrime incidents are surging, yet law enforcement capabilities remain limited.

This unsettling trend presents a promising opportunity for the cloud compliance market growth. With a heightened awareness of cloud compliance, the market is set to flourish in future years. As organizations increasingly adopt cloud technology, the need for secure and compliant data and system management drives the market's expansion.

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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)

Our Sample Report Covers:

• 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
• 115+ Pages Research Report (Inclusion of Updated Research).
• Provide Chapter-wise guidance on Requests.
• 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
• Includes Updated List of tables & figures.
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.

Some of the Top Market Players Are:

• Microsoft
• IBM
• Check Point
• AT&T
• Broadcom
• Qualys
• Nutanix
• Sophos
• Oracle
• Palo Alto Networks

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Market Dynamics

Prominent Drivers of the market

• The growing significance of online applications: It is a key driver of the market as more and more organizations shift their operations online. This shift has increased the need for cloud compliance solutions to protect sensitive data.
• The emergence of new technologies: New technologies, such as loT, is driving the use of cloud compliance solutions. With loT devices generating vast amounts of data, organizations need to ensure that they are managing this data in a compliant manner.
• Adopting multi-cloud strategies: Large businesses are driving the cloud compliance market sales. While multi-cloud strategies offer numerous benefits, they also introduce complexity and inefficient data management, which can be addressed through cloud compliance solutions.
• The need to comply with different regulatory laws: Complying with regulatory laws is another driver of the industry. With data centers spread worldwide, businesses must ensure they comply with the different regulatory laws of the countries in which they operate.
• Cloud compliance automation: This is helping organizations manage compliance more effectively and efficiently. Automation can compare an organization's current security posture to best practices and compliance frameworks, streamline data, eliminate human error, and save time.

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Top Report Findings

• Rise in the usage of online applications and the need to protect sensitive private data for security.
• The market is segmented into components, Applications, cloud models, organizations, Vertical & By Region
• In 2022, the North America region led the global market.

Top Trends Influencing the Market

• Increasing adoption of cloud technology across industries - With the benefits of cost savings, scalability, and flexibility, more and more organizations are migrating their data and applications to the cloud. This is driving the demand for cloud compliance market trends that can help ensure data security and compliance with regulations.

• Stringent regulations and compliance requirements - Governments and regulatory bodies are introducing new laws and regulations to protect data privacy and security. Organizations must comply with these regulations; cloud compliance solutions help them meet them.

• Growing concerns over data security and privacy - With the increasing amount of data being stored and processed in the cloud, there are growing concerns about data security and privacy. Organizations are seeking cloud compliance solutions that can help them protect their data and ensure compliance with regulations. This again leads to growth in the cloud compliance market size.

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Segmental Analysis

• The service segment's managed services are anticipated to experience the fastest growth over the projection period

Based on component, the cloud compliance market segmentation, Managed services will witness the highest growth rate during the forecasted period. Managed service providers offer consultation, tools, and solutions to ensure compliance and maintain the effectiveness of enterprises' clouds. By using managed services, businesses can delegate crucial management tasks.

• The largest market share in 2022 was accounted for by the Saas Model

The Software-as-a-Service (SaaS) sector is expected to capture a larger market share in the cloud model. SaaS allows businesses to subscribe to programs without requiring internal employee maintenance. SaaS solutions are widely recognized for their user-friendliness, and cloud compliance solutions are no exception.

• In 2022, large enterprises were expected to hold a substantial revenue share

Large enterprises dominated the revenue share in the market. Large enterprises are organizations with more than 1,000 employees. These companies were early adopters of cloud compliance software and related services due to the numerous cloud applications they employ that are susceptible to cyberattacks.

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Cloud Compliance Market: Report Scope & Coverage

Geographic Overview

North America: The cloud compliance market demand in the North America region is expected to dominate revenue share, owing to the rising acceptance of cloud technology boosting the demand for cloud compliance solutions. The market's growth is anticipated to be further accelerated by stringent regulations in the coming years. North America has established rigorous data privacy and security laws, expected to contribute to the market's expansion.

Asia Pacific: The upcoming years are predicted to witness a higher growth rate in Asia Pacific, as the region's effective government regulations and technological advancements are generating greater growth potential for the cloud compliance market share. Regarding cloud compliance software and services, Asia Pacific is the fastest expanding region, as it provides a cost-effective option.

Browse the Detail 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” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/cloud-compliance-market    

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Recent Developments

• "IBM Partner Plus" was launched by IBM in January 2023 with the aim of providing its business partners with unparalleled access to IBM resources, rewards, and specialized support to enhance their technical knowledge and reduce time to market.
• To facilitate collaboration between animation artists and other effects editors using AWS, Netflix established its visual effects division in 2021. This move has amplified the requirement for cloud compliance solutions to safeguard and preserve data security during the transition.

Frequently Asked Questions:

• What is cloud compliance?
• What are the key drivers of the market?
• Which region is expected to dominate the market?
• What are the recent developments that took place in the market?
• What factors are responsible for the growth of the market?

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

By Component

• Software
• Services

By Application

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

By Cloud Model

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

By Organization

• Large Enterprises
• Small and Medium Enterprises

By Vertical

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

By Region

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

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