In a recent market study offering by Transparency Market Research (TMR), the global cloud security market is projected to grow at a CAGR of 12.80% from 2015 to 2022. The report, titled «Cloud Security Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2022», states that the global cloud security market will reach a valuation of US$11.8 bn by 2022 increasing from its 2014 valuation of US$4.5 bn.According to the report, factors such as the rapid proliferation of handheld devices, the increasing trend of CYOD and BYOD policies in corporate organizations, increasing use of cloud-based computing by small and medium scale businesses, and ease of use of cloud security services are driving the cloud security market.