LONDON, Nov. 30, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company's research on the cloud security posture management market, a huge increase in the number of people using the internet for employment, education, and leisure is driving significant growth for cloud security posture management. There has been a tremendous rise in the number of internet users for various reasons such as employment, education, and leisure time. One of the most influential and quickly developing technologies is the internet which has further led to a boost in demand for cloud security posture management (CSPM). Consumption for CSPM technologies is sparked by the ensuing sharp increase in bandwidth demand as well as an unanticipated rise in the frequency of cyberattacks like Ransomware, Distributed Denial of Service (DDoS), and other threats. For instance, according to a recent report from risk based security in the first quarter of 2020, 8.4 billion records were exposed, a 273% rise from the first quarter of 2019. Therefore, the need to secure the data with increasing use of the internet and cyberattacks is the main concern of the customers which has led to a positive shift in the demand for cloud security posture management industry.
The global cloud security management market size 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 Russia-Ukraine war 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 on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. 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 focused on developing new technological solutions to strengthen their position. For instance, in October 2020, a US-based cybersecurity company provider, Palo Alto, launched Prisma Cloud 2.0. and recently introduced its new category in cloud security - the Cloud-native security platform to protect cloud-native applications. Prisma Cloud Data Security was created with the express intention of addressing the difficulties associated with finding and safeguarding data at the volume and velocity typical of public cloud systems. With the augment of new technology Prisma 2.0, the provider aims to assist the numerous businesses that are actively adopting multi-cloud architectures across different computing paradigms. Professionals in DevOps, cloud infrastructure, and security can more confidently protect the innovations that promote user engagement with Prisma Cloud 2.0. Therefore, trends like these give leverage to market players by introducing such new product innovations to make a strong customer base.
Major players in the 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 organization size into large enterprises, small and medium enterprises; by cloud model: into infrastructure-as-a-service (IaaS), platform-as-a-service (PaaS), software-as-a-service (SaaS); by vertical into BFSI, healthcare, retail, trade, IT, telecommunication, public sector.
North America was the largest region in the cloud security posture management market in 2021 and is expected to be the fastest-growing region in the forecast period. The regions covered in cloud security posture management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Cloud Security Posture Management Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide cloud security posture management market forecast size and growth, cloud security posture management market segments, cloud security posture management market trends, drivers and restraints, leading competitors' revenues, profiles and market shares in its competitive landscape section for over 3,000 industry reports, covering more than 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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