A new report from the International Data Corporation (IDC) has ranked Trend Micro, a global cybersecurity leader, as the largest vendor in the cloud workload security market, with a share more than twice that of its nearest competitor for the 5th consecutive year. The data appears in the report titled IDC Worldwide Cloud Workload Security Market Shares, 2022: A Shifting Landscape.
IDC’s report also highlights surging demand for cloud workload security. The overall size of the market increased by nearly 27% annually to reach Ksh 260 billion ($2.6bn) worldwide. While it did not go into specifics, the report expects that Trend Micro’s cloud-specific revenue is predicted to grow bigger than that of the second and third largest vendors combined.
“Trend was early to spot the transformational potential in cloud and the need to secure this growing attack surface,” said Gareth Redelinghuys, Trend Micro Country Managing Director African Cluster. “With a 16% market share today, there’s no vendor out there that comes close to the depth of our threat intelligence and geographic diversity of our customer base. Our focus now is to give our customers what they’re increasingly demanding: a broad set of powerful cloud security capabilities delivered seamlessly to protect data no matter where it is.”
This comes at a time when cloud migration continues its exponential growth in South Africa with 69% of businesses planning to increase their cloud spending in 2023. Seven out of ten chief information and technology officers have said that public cloud applications are key to their organisation’s digital transformation strategy.
Yet as organisations migrate more of their mission-critical applications and workloads to cloud environments, they risk increased exposure to business disruption and data theft. The growing popularity of containers, and the accompanying move from monolithic to microservice architectures, is also highlighted by IDC as a fast-emerging risk factor.
In the context of this increasing complexity, he noted that the firm remains committed to its mission to offer powerful protection, detection and response for data in every environment that can be managed from a centralised platform.
“We also recognise that cloud does not operate in a vacuum. That’s why the cloud-native Vision One platform was built to help SecOps teams prioritize threat signals, increase productivity, and take rapid action to contain threats across email, endpoint, network, server and cloud infrastructure,” he added.
To read an excerpt of the IDC, Worldwide Cloud Workload Security Market Shares, 2022: A Shifting Landscape, report please visit: https://resources.trendmicro.com/IDC-Cloud-Workload-Security-Overview.html
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