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Study: Cloud security market to be worth $12 billion by 2022

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By Conner Forrest, TechRepublic

Jan 18, 2016

A recent study performed by Transparency Market Research (TMR) projects that the global cloud security market will grow to a valuation of $11.8 billion by the year 2022. To put that into perspective, in 2014 TMR put the value of that same market at $4.5 billion.

The report, officially titled Cloud Security Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014-2022, was officially released on Thursday. In the report, TMR predicts that the cloud security industry is due to experience a 12.8% compound annual growth rate (CAGR) between 2015 and 2022.

There are a few different reasons behind the growth, as listed in the report, but they can be broken down into three distinct categories: Mobile, SMB, and security software.

Take a deeper dive into each category.