According to the Market Statsville Group (MSG), the global multi-cloud security solutions market size is expected to grow at a CAGR of 11.2% from 2022 to 2030. Emergence of advanced cybercrime, cyber espionage activities, the production of new cyberattacks, and an increase in the use of cloud-based solutions are all driving demand for multi-cloud security. Furthermore, growing government attempts to support smart infrastructure projects and safeguard online financial applications, social media, and operating systems would present attractive prospects for multi-cloud security solutions suppliers.

Global Multi-Cloud Security Solutions Market Definition

Multi-cloud security is a suit of cloud security solution, defends and prevents emerging security threats and cyberattacks across different cloud infrastructures and environments for company and customer data, assets, and applications. There are numerous benefits of multi-cloud solutions. The customer can choose from various cloud solutions, promoting flexibility and preventing a business from having to lock into a specific vendor.

COVID-19 Impact on the Global Multi-Cloud Security Solutions Market

As a result of COVID-19, strategies for rapid digital transformation have been adopted, which has increased the demand for cloud computing and multi-cloud security. With the rise of remote work and collaboration, cloud computing has become a business ally. Cloud-based solutions are increasingly in demand as a result of the COVID-19 scenario. Before the epidemic, many businesses worried that moving sensitive data to the cloud might be risky. However, since the pandemic, there has been a boom in multi-cloud deployment, paving the way for the demand for multi-cloud security solutions.

Scope of the Global Multi-Cloud Security Solutions Market

The study categorizes the multi-cloud security solutions market based on type and application at the regional and global levels.

By Type (Sales, USD Million, 2017-2030)

• Public Cloud
• Private Cloud

By Application Outlook (Sales, USD Million, 2017-2030)

• Healthcare
• Retail
• Government
• BFSI
• IT & Telecom
• Others

By Region Outlook (Sales, USD Million, 2017-2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • The Netherlands
  • Norway
  • Czech Republic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

Public cloud segment is projected to account for the largest market share, by type

Based on type, the global multi-cloud security solutions market is divided into public cloud and private cloud. In 2021, the public cloud segment accounted for the largest market share in the global multi-cloud security solutions market. A public cloud uses the traditional cloud computing concept to make resources such as virtual machines, programs, and storage remotely accessible to users. There are free public cloud services available in addition to a variety of subscription or on-demand payment structures, such as a pay-per-use strategy.

North America accounts for the highest market share by region

North America is estimated to hold the highest market share in the global multi-cloud security solutions market in 2021. The market for cloud services in North America is fast shifting from standalone cloud solutions to platforms that integrate onsite, public, and private IaaS. The demand for creative solutions built on the newest technology has been fueled by the ongoing deployment of wireless connectivity and the expanding usage of linked and IoT-enabled products. As a result, market actors aggressively invest in cutting-edge technology to outperform their rivals. The expanding multi-cloud management market in North America is also encouraged by the rising demand for effective computing frameworks.

Key Market Players in the Global Multi-Cloud Security Solutions Market

The global multi-cloud security solutions market is highly competitive, with key industry players adopting strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions. Most market companies focus on expanding operations across regions, augmenting their capabilities, and building strong partner relations.

Major players in the global multi-cloud security solutions market are:

• HashiCorp
• SonicWall
• F5 Networks
• IBM
• Rackspace
• JD Cloud
• Datacom
• Juniper Networks
• Avi Networks
• Nutanix Beam

Recent Developments

• In August 2021, Fortinet announced integration between Fortinet’s FortiManager and HashiCorp Terraform to simplify and automate Day zero and Day one operations for multi-cloud and hybrid cloud deployments leveraging the Fortinet Security Fabric.
• In May 2021, Juniper Networks announced the investment in the Secure Access Service Edge (SASE) market.  And also introduced Juniper Security Director Cloud, a cloud portal, distributes connectivity and security services to web pages, users, and applications and manages customers' SASE transformations.

Key Issues Addressed

• What is the market size by various segmentation of the multi-cloud security solutions by region and its respective countries?
• What are the customer buying behavior, key takeaways, and Porter's 5 forces of the multi-cloud security solutions market?
• What are the key opportunities and trends for manufacturers involved in the multi-cloud security solutions supply chain?
• What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
• What and how regulations, schemes, patents, and policies are impacting the growth of the market?
• What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
• The market player positioning, top winning strategies by years, company product developments, and launches will be?
• How has COVID-19 impacted the demand and sales of multi-cloud security solutions in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
• Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market