Cloud Security Posture Management Market

The global cloud security posture management market size was valued at USD 4.14 Billion in 2022 and is expected to surpass USD 14.68 Billion by 2031, expanding at a CAGR of 15.1% during the forecast period, 2023–2031. The growth of the market is attributed to the wide occurrence of malware attacks due to increasing adoption of cloud-computing platforms and wide acceptance of digital business automation.

Cloud security posture management (CSPM) refers to the implementation of a range of software and services applications that are primarily designed to build a strong security network in various cloud platforms. It provides a robust cybersecurity system that can protect a cloud platform from various malicious threats and offers a secured network environment for various cloud-based users.

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CSPM basically allows automatic response to any security threat present in the cloud platform, easy identification of the involved risks, and offers effective solutions or remediations to address the risks across the platforms.

It provides automated and continuous monitoring of cloud-based applications that allow organizations to protect their business data, devices, and networks from security threats including data breaches, malware, spyware attacks, compromised network, and network performance attacks.

One key aspect of the CSPM application is that the IT security tools allow users to adhere to security compliance standards and prevent network misconfigurations before exposing the network to the public internet.

As per the 2021 study published by Gartner research, nearly 50% of organizations faced the consequence of network misconfiguration due to the wrongly introduction of their cloud-based services such as Infrastructure as a Service (IaaS) and its network applications directly exposed to the public internet.

The study further stated that the network misconfiguration was responsible for around 95% of all security breaches, which ended up companies costing nearly USD 5 trillion in the years between 2018 and 2019 alone.

The outbreak of the COVID-19 pandemic had opened up several opportunities for the rapid expansion of the market as companies had to undergo a massive digital transformation of their operations. With the emergency lockdown imposed by governments across the globe, corporate companies had to rely on digital platforms to continue their normal operations and allow proper communication with their employees, who were working from home.

Several global reports showed that the occurrence of high cybercrimes and misconfiguration of cloud-based platforms were closely linked to the wide expanse of digital footprint by corporate organizations during the pandemic.

Cloud Security Posture Management Market Trends, Drivers, Restraints, and Opportunities

• Rising occurrence of cloud platform configuration errors, frequent events of cyberattacks, and increasing number of data breaches through spyware attacks are key factors boosting the market.

• Rapid access to cloud-computing networks by companies for better operation management and expansion of business operations present other drivers of the market.

• Availability of cost-effective IT infrastructure and cloud-based platforms for safe data storage from malware attacks are expected to boost the market during the forecast period.

• Lack of commercialization of cloud-based computing networks and the absence of high skilled expertise for service operations are the main challenges that can hinder the market growth.

• Technological advancements and massive R&D investment for developing advanced threat intelligence solutions for cloud security are likely to offer immense growth opportunities for the market.

Scope of Cloud Security Posture Management Market Report

The report on the global cloud security posture management market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Cloud Security Posture Management Market Segment Insights

Cloud Models Segment Analysis

Based on cloud models, the global cloud security posture management market is divided into SaaS, IaaS, and PaaS. The Software as a Service (SaaS) segment accounted for a key market share in 2021 and is expected to expand at a rapid pace during the forecast period owing to wide adoption of the model for web monitoring and high integration of SaaS into cyber security solutions for cloud platforms.

Wide popularity of SaaS applications including Microsoft 365 and Salesforce in minimizing risky network configurations and aiding regulation compliance presents another key driver of the segment. The SaaS-based cloud security solutions are presently offered by limited-service providers or companies such as Adaptive Shield and AppOmni.

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Components Segment Analysis

On the basis of components, the market is bifurcated into services and solutions. The solution segment held a major market share in 2021 and is anticipated to hold a key share of the market in the coming years owing to the high availability of software solutions to easily detect and prevent misconfigurations of a cloud network.

Rising integration of advanced technology such as Artificial Intelligence (AI) and increasing effective handling of cyberthreats in advance is further likely to fuel the segment.

End-users Segment Analysis

On the basis of end-users, the market is segregated into healthcare, IT & telecommunication, BFSI, retail & e-commerce, education, and government. The healthcare segment is projected to register a considerable CAGR during the forecast period due to increasing use of cloud platforms for storing a large volume of patient data, easy accessibility to platforms, and rapid implementation of mobile healthcare devices. Moreover, rising spending on advanced healthcare management solutions presents a major driver of the segment.

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Regional Analysis

In terms of regions, the global cloud security posture management market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa.

North America is expected to constitute a key share of the market during the projected period due to the presence of key global players such as Microsoft, Palo Alto Networks, and IBM as well as wide acceptance of cloud-based platforms among business organizations in the region. Moreover, increasing spending on technological upgrades for the effective handling of business operations further boosts the regional market.

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Segments

The global cloud security posture management market has been segmented on the basis of

Cloud Models

• SaaS
• IaaS
• PaaS

Components

• Services
• Solutions

End-users

• Healthcare
• IT & Telecommunication
• BFSI
• Retail & E-commerce
• Education
• Government

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• International Business Machines Corporation
• Microsoft Corporation
• Oracle Corporation
• Cisco Systems
• Fujitsu Ltd
• Palo Alto Networks, Inc.
• VMware, Inc.
• DivvyCloud Corporation
• Check Point Software Technologies
• Atos SE
• Arctic Wolf Networks
• CrowdStrike Holdings, Inc.
• Sysdig, Inc.
• FireMon, LLC
• Trend Micro, Inc.
• OpsCompass
• Aqua Security
• Radware Ltd
• Adaptive Shield 
• Qualys, Inc.

Competitive Landscape

Key players competing in the global cloud security posture management market are International Business Machines Corporation; Microsoft Corporation; Oracle Corporation; Cisco Systems; Fujitsu Ltd; Palo Alto Networks, Inc.; VMware, Inc.; DivvyCloud Corporation; Check Point Software Technologies; Atos SE; Arctic Wolf Networks; CrowdStrike Holdings, Inc.; Sysdig, Inc; FireMon, LLC; Trend Micro, Inc.; OpsCompass; Aqua Security; Radware Ltd; Adaptive Shield; and Qualys, Inc.

Some of these players have adopted several business development strategies such as launching innovative technology, massive R&D programs, and entering into partnerships for expansion of their market share.