Trend Micro Incorporated, the global cloud security leader, is the major player leading the fast-growing Global Cloud Security Software market, according to TechNavio's 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 that Trend Micro is able to dominate the market because of its diversified geographic reach, established customer base, and brand reputation.
The company's 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 Micro's dominance in the cloud security market is 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 Steve Quane, Chief Product Officer.
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 TechNavio's "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.