Cloud Workload Protection Market Size, Share & Growth (2022-27) | Forecast
Market Overview:
During the forecast period, the cloud workload protection market is expected to grow at a CAGR of 24.2%. (2021–2026). The increased cloud workload is related to the market’s expansion. According to Cisco Systems, cloud workloads will account for 94% of total data centre workloads in 2021, up from 86% in 2017. Factors such as increasing organisational adoption of multi-cloud strategy, the growing requirement to defend company workloads against unwanted strikes, and centralised policy enforcement are projected to fuel market expansion globally.
According to NTSC, the cloud market is expanding at an exponential rate, with revenues predicted to increase from USD 227 billion in 2019 to USD 354 billion by 2022. More than 90% of businesses already use cloud services. The increasing use of private and public cloud computing models has resulted in a rise in cyber attacks on resources and sensitive data stored on these platforms. As more enterprises migrate to the cloud, data security awareness is propelling industry growth.
Furthermore, unauthorised cloud access, unsecure interfaces, cloud platform misconfiguration, and account hijacking are increasing market need. The most common source of data theft events is a misconfigured cloud infrastructure. For example, in April 2019, insecure Amazon servers exposed 540 million Facebook user records via third-party apps.
Scope of the Report:
Cloud workload protection technologies provide the necessary strategy controls and security while preserving the speed and agility of the self-service cloud. Furthermore, they assist enterprises in monitoring and removing threats from cloud workloads.
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