The high-growth market for cloud security
In the post-COVID-19 era, companies have adopted a flexible working model where the workforce is distributed and remotely enabled. Widespread use of remote location servers, smartphones, and connected devices has increased the number of endpoints. This trend is set to continue in the near-to-medium term and thus the requirement for strong endpoint protection is essential. In addition, the protection from identity and information threats forms the basis for intelligent security architecture.

In view of high digital transformation across industries like retail, e-commerce, telecommunications, banking and finance, media, manufacturing, and government sector, investment in cloud security has become pertinent and is rising. With rampant cases in cybercrime (82% of the overall crime rate in the US, as per CNBC Television), it is imminent that strong security is enabled across various devices and networks. As per Gartner estimates, the market for cloud security is said to grow 10x to USD12.4billion by 2023 (vs. USD1.2billion in 2020). Overall, the security market has opened up across different business scales and work environments that are subject to attacks and hence continue to build on its growth story.
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