Information Communication and Technology Reports Cloud Security Industry Research Report | Page 2

The global Cloud Security Market has been segmented on the basis of regions into North America, Europe, Asia-
Pacific (APAC), Middle East & Africa (MEA), and Latin America to provide a region-specific analysis in the report.
The North American region, followed by Europe, is expected to become the largest revenue-generating region for
cloud security service vendors in 2017. This is mainly because, in the developed economies of the U.S. and Canada,
there is high focus on innovations obtained from Research & Development (R&D) and security technologies. The
APAC region is expected to be the fastest growing region in the market. The growth in this region is primarily
driven by the increasing adoption of IoT devices and BYOD technologies within organizations.
Usage of cloud security services in BFSI, government and public utilities, and retail industry verticals drive the
growth of cloud security market
BFSI
The BFSI is an industry term for companies, such as commercial banks, insurance institutes, and non-banking
financial organizations, which provide financial products and services. The BFSI vertical has undertaken significant
changes in operations and the way customers interact with the vertical. This industry vertical is very reluctant to
move its data on cloud due to security and privacy breaches. The ongoing trends such as globalization, expanding
regulations, mobile integration, and online payment tools have created complexities in the cloud environment.
Retail
The retail sector is the part of country’s economy that sells goods to customers through various shops, small
groceries, supermarkets, large department stores, or through the internet. The retail industry is always on the top
in terms of cost-cutting, improving revenue margin, and adopting the latest cloud technologies. This vertical is one
of the most targeted verticals by cyber-attackers because of the potential payouts and huge number of monetary
transactions made via VISA, MasterCard, and other payment processing networks.
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