CHICAGO, April 13, 2022 /PRNewswire/ -- According to a new market research report "Cloud Security Posture Management Market by Component (Solutions and Services), Cloud Model (IaaS, PaaS, and SaaS), Vertical (BFSI, Healthcare, Retail & eCommerce, IT & ITeS, Government, and Education) and Region - Global Forecast to 2027", published by MarketsandMarkets, the global post COVID-19 market size of the Cloud Security Posture Management (CSPM) Market is expected to grow from USD 4.2 billion in 2022 to USD 8.6 billion by 2027 at a CAGR of 15.3% during the forecast period. Low visibility across the IT infrastructure and increase in configuration errors in cloud infrastructure, absence of efficient security tools and processes to handle the cloud-based environments and developing cloud security capabilities such as easy DevSecOps integration and threat intelligence are some of the factors that are driving the market growth. However, lack of skilled expertise, and lack of awareness of cloud resources, cloud security architecture, and strategy are some of the factors that are expected to hinder the market growth.
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317 - Tables
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By component, solution segment to hold the largest market size during the forecast period
Based on components, the Cloud Security Posture Management Market is segmented into solutions and services. CSPM solution provides visibility into the public cloud infrastructure of an organization, including cloud resources, compliance, and cloud configurations. CSPM solutions provide the necessary cloud visibility to detect and prevent configuration errors before they cause a breach. Some CSPM solutions may even leverage AI to predict where risks are likely to arise in the future. In the COVID-19 pandemic, the increasing data and traffic on the public cloud and lack of expertise in cloud configurations have made cloud resources more vulnerable than in previous years. CSPM solutions are designed and developed to handle cloud misconfigurations and policy violations. The increasing cloud adoption and IT spending on the public cloud are expected to fuel the market growth of CSPM solutions in the coming years globally.
By cloud model, SaaS security posture management (SSPM) to grow at a higher CAGR during the forecast period
SaaS applications are sometimes called Web-based software, on-demand software, or hosted software. Whatever the name, SaaS applications run on a SaaS provider's servers. The provider manages access to the application, including security, availability, and performance. Capabilities such as DLP, compliance, and industry regulation solutions and advanced malware prevention are attracting enterprises to use SaaS security solutions. Due to multiple benefits, CSPM providers are now integrating SaaS into CSPM solutions to offer a single solution for SaaS and IaaS-based cloud security services. Companies such as AppOmni and Adaptive Shield are some of the few companies offering SaaS-based CSPM solutions.
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North America to hold the largest market size during the forecast period
Major CSPM vendors, such as IBM, Microsoft, VMware, Zscaler, Palo Alto Networks, and Netskope, are headquartered in North America. All kinds of organizations, either big or small, have faced major threat issues due to misconfiguration, thereby resulting in huge financial losses. According to Check Point, the average number of weekly attacks on organizations globally in 2021 is 40% higher than the average before March 2020, when the first pandemic-related changes went into effect. The volume of attacks on cloud services, especially with the onset of COVID-19, is persuading enterprises in the US and Canada to configure cloud architecture as such to prevent any data breach. North America is contributing significantly to CSPM and is expected to grow further.
Key Players:
Major vendors in the global Cloud Security Posture Management Market include Fireeye (now Trellix) (US), Cisco Systems (US), International Business Machines Corporation (US), Palo Alto Networks, Inc. (US), VMware, Inc. (US), Microsoft Corporation (US), Check Point Software Technologies (Israel), Zscaler (US), Sophos Group plc (UK), Atos SE (France), Forcepoint (US), CrowdStrike Holdings, Inc. (US), Netskope (US), Trend Micro, Inc. (Japan), Fortinet (US), Qualys, Inc. (US), Fujitsu Ltd (Japan), Radware Ltd (Israel), Oracle Corporation (US), Arctic Wolf Networks (US), Entrust Corporation (US), DivvyCloud Corporation (US), Lookout (US), Aqua Security (US), Aujas Cybersecurity Ltd (US), Fidelis Cybersecurity (US), Foreseeti (Sweden), Sysdig, Inc (US), Cynet (Israel), Snyk (US), and FireMon, LLC (US). Some emerging startups, such as Orca Security (Israel), AppOmni Inc. (US), Adaptive Shield (Israel), OpsCompass (US), C3M, LLC (US), Wiz.io (US), Caveonix (US), Ermetic (US), Obsidian Security (US), and Ascend Technologies (US), are also included in the CSPM market.
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