According to Future Market Insights (FMI), the demand registered in the Cloud Workload Protection Market will grow at a noteworthy CAGR of around 22.1% from 2022-2032. The report states that the market is expected to reach a valuation of ~US$ 3,526.9 Mn by end of 2022.
As per Future Market Insights, surge in demand for centralized data protection of cloud solutions, increased demand for protected and secured data to drive the growth of cloud workload protection market in the coming years.
Furthermore, rising adoption of multi-cloud strategies for performance improvements and demand for programmed functionalities is expected to drive the cloud workload protection market and present attractive growth possibilities for cloud workload protection platform vendors.
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Moreover, large enterprises are adopting cloud workload protection platforms and services on a larger scale to keep up with the compliance requirements while ensuring data security. Automation for data backup, prevention of data loss with reduced security concerns are some key benefits offered by cloud protection platforms fueling the adoption in SMEs.
Key Takeaways: Cloud Workload Protection Market
- By solution, the cloud workload protection platform segment is anticipated to account for the leading share in the global demand for cloud workload protection during the forecast period.
- The services segment is estimated to grow at a robust CAGR of 19.7% through 2032.
- Among the enterprise size, SMEs segment is estimated to grow by 8.5X during the forecast period.
- By industry, the IT & telecom segment is anticipated to increase at a CAGR of 25.5% between 2022 & 2032.
- North America region is dominating cloud workload protection market followed by Europe region in 2022.
- South Asia & Pacific is estimated as the fastest growing region during the forecast period.
- The cloud workload protection market in U.S. is expected to progress at a CAGR of around 18.0% through 2032.
- In India, the cloud workload protection market is expected to grow by 13.18X during the forecast period.
- Cloud workload protection market in China is estimated to witness the absolute opportunity of US$ 1,871.7 Mn in the forecast period.
Rising Adoption of Cloud Computing Fuelling the Market Growth
The innovation of cloud technology has greatly augmented productivity but appears new vulnerabilities. Increased recognition and implementation of cloud solutions simultaneously increases the market demand for automated security processes, critical workload management across various cloud environments.
With integration of new technologies, the associated risks of cloud computing such as data security, technological and operational risks are addressed through the adoption of workload protection platforms. The need of cloud user organizations to strike the balance between cloud innovations and risk based governance structures fuels the demand for cloud workload protection platforms.
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Cloud Workload Protection Market by Category
By Solution:
- Cloud Workload Protection Platform
- Cloud-based
- On-Premises
- Services
- Professional Service
-
- Consulting Services
- Support and Maintenance
- Training and Education
-
- Managed Services
- Professional Service
By Enterprise Size:
- Small and Mid-Sized Enterprises (SMEs)
- Large Enterprises
By Industry:
- BFSI
- Government
- IT & Telecom
- Retail
- Manufacturing
- Media & Entertainment
- Healthcare
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
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