Research Nester released a report titled “Hybrid Cloud Workload Security Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global hybrid cloud workload security marketin terms of market segmentation by organization type, end-user, and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The hybrid cloud workload security market is projected to grow with a moderate CAGR during the forecast period, i.e., 2021-2029 on account of the increase in deployment of hybrid cloud workload security and the growing need to protect cloud workloads. It is projected that more than 72% of the global enterprises will shift to cloud storage systems from on-premise data centers, by 2022.
The market is segmented by organization type into small & medium enterprises, and large enterprises. Among these segments, the large enterprises’ segment is anticipated to hold the largest share by the end of 2021 in the hybrid cloud workload security marketas a result of their greater financial strengths in deploying hybrid cloud workload security systems. On the basis of end-user, the market is segmented into BFSI, IT & telecom, manufacturing, hospitality & travel, healthcare, and others.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the hybrid cloud workload security marketin the Asia Pacific is projected to grow at the highest CAGR throughout the forecast period. Currently, the market in North America holds the largest share. This can be attributed to the presence of leading technology providers in the region, especially in the United States, who are extensively involved in the early adoption of cloud-based services.
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Increase in Deployment of Hybrid Cloud Workload Security and Growing Need to Protect Cloud Workloads to Drive Market Growth
According to a research, it is estimated that in 2020, the total enterprise expenditure on cloud infrastructure services amounted to around US $ 130 billion.
There is a growing adoption trend of hybrid cloud workload security globally due to increasing need for protection of data. It has been observed that the lack of clarity about the responsibility of data security between the hybrid cloud service providers and enterprises is also leading to increasing adoption of hybrid cloud workload security. Additionally, the rising demand to control unofficial and unidentified workloads is also expected to boost the market growth in upcoming years. However, the lack of skilled operators needed to handle complex cloud workload security and lack of awareness about hybrid cloud workload protection systems among small enterprises are some of the factors that are estimated to restrain market growth in the near future.
This report also provides the existing competitive scenario of some of the key players of the global hybrid cloud workload security market which includes company profiling of Trend Micro (TYO), Sysdiq, VMware (NYSE: VMW), Cisco Systems (NASDAQ: CSCO), Symantec, McAfee (NASDAQ: MCFE), Tripwire, Palo Alto Networks (NYSE: PANW), and Check Point Software Technologies (NASDAQ: CHKP). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global hybrid cloud workload security market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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