Cloud Security, Security Architecture

Report: cloud usage projected to grow through 2029

Fortune Business Insights’ latest report predicts that ever-increasing demand for solutions to cryptojacking, managed container services and storage applications, as well as rising adoption of cloud computing services related to data monitoring will elevate the growth of the cloud security market, which is expected to rise to $106.02 billion in 2029, according to ITPro.

“Amid COVID-19, many organizations began shifting massive amounts of the workload from data centers and on-premises towards the cloud. This led to an exponential increase in cloud usage solutions, further leading to a boost in the cloud security market growth,” according to the group.

North America is projected to retain its lead in cloud security adoption during this period in light of current government initiatives urging enterprises to adopt such security solutions as well as growing collaboration between major firms such as Cisco, IBM and Microsoft, and the rise in cyberattacks and phishing campaigns targeting companies in the region, according to the report.

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