Cloud Assurance Market Size 2021 | Share Estimation, Developments Plans, Industry Impact and Forecast till 2030

In a recent published report, Kenneth Research has updated the market report for Cloud Assurance Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Cloud Assurance Market products.

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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.

The era of digitization across the globe is changing the procedures of data storage to enhance the productivity of the business in competitive environment. IT business is growing with rapid pace due to technological advancements in IT sector which helps the business to reach the utmost s with huge amount of data. The competitive business environment across the globe needs to diversify the business into several sectors which raise the complexity and further leads to data loss or leakage. The cloud assurance services are taking care of data leakage and prevent the data from mishandling in order to optimize the resources of the business and to diversify into several sectors.

“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”

Moreover, the fluctuation in business and addition of resources to meet desired goals of business consecutively increase the data for the management of different processes of business. In order to maintain the data and prevent the data from theft or loss, the need of cloud assurance is likely to grow in near future. Organizations across the globe increasing their trust on protection and management of data to secure computing environment, thus cloud assurance grows in importance.

Enterprises are moving towards cloud technology for flexibility and to minimize the outlay in order to maintain lucrativeness. The ease of data handling and security through cloud assurance probably helps to minimize the burden and threat of data mishandling from the organizations.

Market size and forecast

The global cloud assurance market reached USD 3.55 Billion in 2013 and the market is expected to flourish over the forecast period i.e. 2015-2023. The cloud assurance market is expected to expand significantly at a CAGR of 17.12% during the forecast period 2015-2023 globally.

Implementation of cloud assurance across the globe by all type of enterprises is expected to showcase a significant growth over the forecast period i.e. 2015-2023. North America accounted the largest revenue share in cloud assurance market in 2015 and it is expected to maintain its dominance in the market of cloud assurance across the globe over the forecast period 2015-2023. European region is expected to be the second largest share contributor in terms of revenue across the globe followed by Asia-Pacific region over the forecast period i.e. 2015-2023. Rapid pace in urbanization in both the regions and growing IT sector in the regions are some of the major factors expected to spur the demand for cloud assurance services and solutions during the forecast period 2015-2023.

Key Players

IBM Corporation, CA Technologies, Microsoft Corporation, Cisco System Inc., Hewlett Packard, Dell Technologies, Voltage Security, McAfee Security Systems

“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”

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By Regions

Global Cloud Assurance Market is further classified on the basis of region as follows:

North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”

Growth Drivers and challenges

Increasing incidents related to security threats for data mishandling and frauds for intellectual and financial gains are affecting the businesses across the globe. To minimize the threats and to keep the data secure, business players are shifting towards cloud assurance. Moreover, the business players are focusing on diversification of business and expansion of product portfolio and workforce in the organization in order to participate in a long run of competition.

There is a need to secure the data and systematic handling of data is vital to increase the efficiency of business processes. Apart from this, presence of advanced tools and solution for security of data and enormous availability of skilled professionals in IT sector are also the key factors expected to drive the market of cloud assurance over the forecast period i.e. 2015-2023.

Rising penetration of business and increasing data on account of drastic increase in IT hubs across the globe increases the necessity of data handling systems in enterprises. This aspect is believed to upsurge the growth of cloud assurance market in near future. Additionally, high cost of cloud assurance services and solutions, presence of international key players with high cost services are expected to hinder the growth of cloud assurance market across the globe over the forecast period i.e. 2015-2023.

“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”

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