LONDON, Nov. 30, 2022 (GLOBE NEWSWIRE) — According to research by The Business Research Company on the cloud security posture management market, a dramatic increase in the number of people using the internet for employment, the education and recreation is driving significant growth for cloud security posture management. The number of internet users has increased tremendously due to various reasons such as employment, education and hobbies. One of the most influential and rapidly developing technologies is the Internet, which has further led to an increase in the demand for Cloud Security Posture Management (CSPM). The consumption of CSPM technologies is triggered by the ensuing surge in bandwidth demand as well as an unforeseen increase in the frequency of cyber attacks such as ransomware, distributed denial of service (DDoS) and other threats . For example, according to a recent Risk-Based Security report in Q1 2020, 8.4 billion records were exposed, a 273% increase from Q1 2019. Therefore, the need to secure data with increasing internet usage and cyberattacks are the main concern of customers, which has led to a positive development in the industry demand for cloud security posture management.
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The size of the global cloud security management market is expected to grow from $3.45 billion in 2021 to $4.05 billion in 2022 at a compound annual growth rate (CAGR) of 17.48%. The Russian-Ukrainian war has disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions against several countries, a spike in commodity prices and supply chain disruptions, affecting many markets around the world. The Cloud Security Management Market is Expected to Reach $7.79 billion in 2026 at a compound annual growth rate (CAGR) of 17.76%.
New product innovation is the key trend gaining popularity in cloud security posture management. Major companies operating in the cloud security posture management market are focusing on developing new technological solutions to strengthen their position. For example, in October 2020, a US-based cybersecurity vendor, Palo Alto, released Prisma Cloud 2.0. and recently introduced its new category in cloud security – cloud native security platform to protect cloud native applications. Prisma Cloud Data Security was created with the express intention of solving the difficulties associated with finding and backing up data at the volume and speed typical of public cloud systems. With the rise of new Prisma 2.0 technology, the vendor aims to help the many enterprises that are actively adopting multi-cloud architectures across different computing paradigms. DevOps, cloud infrastructure, and security professionals can more confidently protect innovations that drive user engagement with Prisma Cloud 2.0. Hence, trends like these give leverage to market players by introducing these new product innovations to build a strong customer base.
Key Players of Cloud Security Posture Management Market are IBM Corporation, Cisco Systems, Inc., Microsoft Corporation, VMware, Inc., Check Point Software Technologies Ltd., Palo Alto Networks, Inc., Sophos Group PLC, Crowdstrike Holdings, Inc., Atos Group, Forcepoint LLC, CipherCloud, Aqua Security, Adaptive Sheild, CloudPassage and Blazeclan Technologies.
The global cloud security posture management market is segmented by component into solution, services; by size of organization into large, small, and medium-sized enterprises; by cloud model: infrastructure as a service (IaaS), platform as a service (PaaS), software as a service (SaaS); by vertical in BFSI, healthcare, retail, commerce, IT, telecommunications, public sector.
North America was the greater region in the cloud security posture management market in 2021 and is expected to be the fastest growing region during the forecast period. Regions covered in the Cloud Security Posture Management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America South, the Middle East and Africa.
Global Cloud Security Posture Management Market Report 2022 – Global Market Size, Trends and Forecasts 2022-2026 is part of a series of new reports from The Business Research Company that provide size and growth Cloud Security Posture Management Market Forecast, Cloud Security Posture Management Market Segments, Cloud Security Posture Management Market Trends, Drivers & Restraints, Revenue , profiles and market shares of key competitors in its competitive landscape section for over 3,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives an in-depth analysis of the impact of COVID-19 on the market. The reports are based on 1,500,000 datasets, extensive secondary research and proprietary insights from interviews with industry leaders.
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