Market Insights Technology Cybersecurity Cyber Solutions

Cloud Security - United States

United States

The Cloud Security market is anticipated to achieve a revenue of US$0.87bn in 2024.
This projection indicates a promising growth trajectory, with an expected compound annual growth rate (CAGR 2024-2029) of 25.97%.
As a result, the market volume is forecasted to reach US$2.76bn by 2029.
Looking specifically at the United States, the country is expected to generate the highest revenue in the Cloud Security market, amounting to US$0.87bn in 2024.
This showcases the country's significant presence and dominance within this market segment.
Additionally, the average Spend per Employee in the Cloud Security market is projected to reach US$5.02 in 2024.
This metric highlights the financial commitment and investment made by companies United States towards ensuring robust cloud security measures.
The United States remains at the forefront of cloud security innovation, with a robust ecosystem of cutting-edge technologies and a thriving market for advanced threat detection and prevention solutions.

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

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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.