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Cloud security software market growing at 41% annually

By sanjay.gupta

Added 21st May 2012

According to a report by research firm TechNavio, this market is expected to reach $963 mn by 2014

Trend Micro Inc. has emergerd as the leading player in the fast-growing global cloud security software market, according to TechNavios Global Cloud Security Software Market report.

The current overall TechNavio estimate for the global cloud security software market was valued at US$241 million in 2010 and is expected to reach US$963.4 million in 2014, growing at a CAGR of 41.4 percent.

Of the four major players in the global security software market, Trend Micro leads with the greatest estimated market share. The TechNavio report points out thatTrend Micro is able to dominate the market because of its diversified geographic reach, established customer base, and brand reputation. The companys partnerships with cloud and virtualization service provider, VMware, and partnerships with companies such as HP, Cisco, Dell, Microsoft Corp., Oracle, and Wipro, also were cited.

According to the TechNavio report: The main drivers for the Global Cloud Security Software market are the growing use of cloud services for critical data storage and the sudden increase in cloud-specific attacks. Driven by multiple factors such as flexibility, cost saving, and availability, an increasing number of companies are transferring their data to the cloud.

Trend Micros dominance in the cloud security marketis the product of the focus and dedication our company has poured into cloud security innovation, which has enabled us to extend the reach of the global cloud infrastructure while maximizing security, reducing complexity, and providing a better user experience, said Amit Nath Country Manager India and SAARC Trend Micro.

This recognition follows on the heels of Trend Micro being positioned as the leader in corporate endpoint server security and the leader in worldwide virtualization security management market by IDC's "Worldwide Endpoint Security 2011-2015 Forecast and 2010 Vendor Shares" and TechNavios Global Virtualization Security Management Solutions 2010-2012 reports positioning Trend Micro as the leader in corporate endpoint server security and the leader in worldwide virtualization security management market.

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