Market Forecasts and Industry Analysis Cloud Security Market Size is Expected to Reach US | Page 2

Dynamic nature of the industry may result in an increasing adoption of open source
platforms. In addition, versatility of data and diverse threat vectors will lead to security-as-a-service
offerings and managed security service providers gaining traction in the market. Sharing of
responsibility between cloud service providers (CSPs) and cloud end users for security and data
protection will have a positive impact on the industry. Furthermore, technologies such as
virtualization and convergence and initiatives such as computer emergency readiness teams (CERTs)
are likely to help in implementing security at different levels of cloud infrastructure.
Increasing sophistication of hacking techniques and technological advancements in cyberespionage
are poised to unleash new generation of attacks such as advanced persistent threats (APTs),
ransomware, malicious insider, distributed denial of service (DDoS), and zero day threats. As a result,
industry wide collaborations and partnerships to tackle emerging threats are estimated to shape the
future of the market.
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Further Key Findings from the Report Suggest:
• Polymorphic, self-mutating codes, and evasion techniques have made the traditional security
technologies and endpoint protection mechanisms obsolete
• Recent years have witnessed numerous high level data breaches such as attacks on Home Depot,
Anthem, Ashley Madison and even security providers such as Kaspersky Labs.
• North America held the largest share in terms of revenue in 2016 owing to increasing awareness
regarding threat of cyberattacks and corporate espionages.
• Numerous countries and regions such as the European Union are adopting specific cyber laws and
regulations to protect data and information. For example, Germany is opting for greater data privacy,
whereas other countries such as U.S. and France are striving for greater visibility in internet traffic.
• Numerous industry specific regulations such as Health Insurance Portability and Accountability Act
of 1996 (HIPPA) for healthcare, Payment Card Industry Data Security Standard (PCI DSS) for
financial sector as well as international laws including Safe Harbor Act and European Union Data
Protection Directive are anticipated to play a vital role in the development of the market.
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