Cloud Security Market 2023 is Evolving Rapidly with Economic Growth, Demand, and Forthcoming Opportunities

(IT-NEWSWIRE.COM, November 03, 2023 ) The potential for the growth of the cloud security market in Germany is highly promising, driven by several compelling factors such as the increasing adoption of cloud computing among German businesses. This adoption is fueled by the desire for enhanced agility, scalability, and cost-effectiveness, which has led to a robust demand for cloud security solutions. As organizations transition to cloud-based infrastructure, the need to protect their sensitive data and applications from escalating cyber threats becomes imperative. Cloud security solutions offer advanced features such as intrusion detection and prevention, data encryption, and access control, which significantly bolster the overall cybersecurity landscape.

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For instance, in February 2023, BMC expanded its offerings in Germany by introducing a C5-attested Software-as-a-Service (SaaS) version of BMC Helix ITSM and BMC Helix Discovery. This strategic move aligns with the German government's cloud security standards. The solutions process and store data locally, backed by Materna Information & Communications SE. BMC Helix ITSM SaaS enhances efficiency, risk management, and cost reduction through real-time incident management, cross-functional data sharing, and proactive change risk assessment, all while ensuring compliance with data privacy regulations and industry standards.

Furthermore, the proactive role of the German government in promoting cloud security solutions further enhances the market's potential. The government provides financial incentives and conducts awareness programs to actively support the adoption of these solutions, creating an attractive and conducive environment for both providers and adopters. In 2022, Germany initiated a sovereign tech fund with an annual budget of Euro 3.5 million to support open-source software critical to internet infrastructure. This initiative aims to enhance European resilience against cyber threats, as foundational open source systems, including those ensuring internet and email security, often lack adequate maintenance and resources. The vulnerability of such systems was exemplified by the Log4J incident in November 2021. Proponents argue that these foundational technologies should receive state support similar to physical infrastructure, given their essential role in the digital economy. This collaborative effort between the public and private sectors propels the growth of the cloud security market in Germany and assures a secure digital future for businesses and consumers alike.

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Key Market Players

IBM (US), Broadcom (US), Check Point (Israel and US), Google (US), AWS (US), Zscaler (US), Akamai Technologies (US), Forcepoint (US), Fortinet (US), F5 (US), Qualys (US), TrendMicro (Japan), Palo Alto Networks (US), Proofpoint (US), Tenable (US), Netskope (US), Microsoft (US), Cisco (US), Impreva (US), Trellix (US), Rapid7 (US), Skyhigh Security (US), FireMon (US), Sysdig (US), LookOut (US), Fidelis Cybersecurity (US), Data Theorem (US), OpsCompass (US), Tufin (US), Menlo Security (US), Tigera (US), Orca Security (US), Ascend Technologies (US), Secberus (US), Ermetic (Israel), Sonrai Security (US), Wiz (US), Conveonix (US), Banyan cloud (US), and AccuKnox (US) are the key players and other players in the cloud security market.

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Cloud Security Market 2023 is Evolving Rapidly with Economic Growth, Demand, and Forthcoming Opportunities