Market Insights Technology Cybersecurity Cyber Solutions

Cloud Security - United Kingdom

United Kingdom

The Cloud Security market in the United Kingdom is expected to witness a substantial growth in revenue, with projections indicating that it will reach US$122.70m by 2024.
Furthermore, the market is anticipated to display a strong annual growth rate (CAGR 2024-2029) of 27.68%.
This growth trajectory will result in a significant expansion of the market, reaching a volume of US$416.40m by 2029.
When analyzing the Cloud Security market, it is also important to consider the average Spend per Employee metric.
In 2024, this figure is projected to reach US$3.53, reflecting the level of investment made by companies in this sector to ensure robust security measures.
In terms of global comparison, United States is expected to generate the highest revenue in the Cloud Security market, with an estimated amount of US$869.2m in 2024.
This highlights the dominance of the US market in this particular segment.
As the Cloud Security market continues to evolve, it is evident that in the United Kingdom, along with other countries, is poised to experience significant growth and investment in this sector.
The increasing importance of cloud security in an increasingly digital world makes this market segment a crucial area to monitor and analyze.
The United Kingdom is experiencing a surge in demand for cloud security solutions as businesses prioritize protecting their digital assets.

Key regions: Canada, Chile, Brazil, Spain, Germany

Market

Region

Region comparison

Currency

Methodology

Data coverage:

Data encompasses B2C, B2B and B2G enterprises. Figures are based on security spending excluding VAT and the number of cyberattacks.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial statements of the market-leading companies and industry associations, national statistical offices, and specific countries’ security organizations (e.g., German Cyber Security Council, Canadian Centre for Cyber Security). Furthermore, we use relevant key market indicators and data from country-specific associations, such as GDP and internet penetration. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. Possible techniques are, for example, exponential trend smoothing and the autoregressive integrated moving average (ARIMA) forecasting algorithm. The main drivers are GDP, internet users, level of digitization, and consumer attitude towards data and IT security.

Additional notes:

Data is modeled using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.