The global cloud security software market is expected to grow at 48.46% at CAGR between 2014 and 2019, according to a new report.
According to a report from ReportsandReport, cloud security software is designed to protect cloud-based services or cloud computing architectures.
It can be offered as a suite of products or a standalone solution to protect the data from unauthorised access and data theft.
Cloud security software also provides features like encryption, endpoint monitoring, vulnerability scanning, intrusion detection, and application and messaging security.
Unlike traditional on-site security software, cloud security does not have a high total cost of ownership and maintenance cost, as cloud vendors take care of implementation, updates, and maintenance which eliminates the need of an IT administration, the report added.
ReportsandReports highlighted that cloud security is also expected to become a major criteria during selection of a cloud service providers (CSP) by the customers during the forecast period, which would lead to increase in partnerships among CSPs and security solution providers.
In another report, it added that cloud security market is expected to grow from $4.2bn in 2014 to $8.71bn in 2019, growing at CAGR of 15.7%.