As per the report published by Fior Markets, the global Cloud Security Posture Management market is expected to grow from USD 4.2 billion in 2020 and to reach USD 11.8 billion by 2028, growing at a CAGR of 13.8% during the forecast period 2021-2028.
The Cloud Security Posture Management market is witnessing significant growth from the past years. This growth is attributed to the growing number of cloud breaches attributable to misconfiguration, a lack of security tools and techniques, and increased companies’ reliance on digital resources.
Cloud security posture management is an assortment of strategies and technologies that organizations may use to reduce the operational complexity of managing multiple clouds by establishing a unified security solution for all cloud services and infrastructure. Cloud security posture management automates cloud security monitoring across a variety of infrastructure types, including infrastructure as a service (IaaS), software as a service (SaaS), and platform as a service (PaaS). Cloud Security Posture Management (CSPM) is considered a market segment for IT security systems that detect cloud misconfiguration issues and compliance risks. An essential aim of CSPM programming is to analyze cloud infrastructure for gaps in security policy compliance constantly. Cloud Security Posture Management systems are designed to detect and resolve issues caused by cloud misconfigurations. A single CSPM tool may be confined to implementing best practices for a single cloud environment or service. Several CSPM systems can automatically repair faults by combining continuous real-time monitoring with automation tools capable of detecting and resolving issues such as improper account privileges. Continuous compliance can also be configured using some standards. Using cloud security posture management, organizations may satisfy a variety of security requirements, such as compliance evaluation, operational monitoring, DevOps integration, incident detection and response, and risk visualization.
The global Cloud Security Posture Management market is expected to witness significant growth due to the remote workforce and a substantial increase in agility and speed in providing new services and applications during the COVID-19 pandemic and growing the adoption of cloud-based solutions and services. The factors restraining the market growth are insufficient understanding of cloud resources, issues related to cloud infrastructure security, and the complexities of cloud strategy. The rising amount of cloud-based business migration will provide market growth opportunities.
Key players operating in the global Cloud Security Posture Management market include IBM Corporation, VMware, Inc., Microsoft Corporation, Blazeclan Technologies, FireEye, Zscaler, Cisco Systems, CheckPoint Software Technologies Pvt Ltd, McAfee Corporation, Fortinet, DivvyCloud Corporation, Fugue, Inc, Accurics, Forcepoint, Optiv Security, Sophos Group Plc., Atos, Palo Alto Networks, Inc., Netskope, AppOmni, CloudPassage, OpsCompass, Adaptive Shield, and Orca Security. To gain a significant market share in the global Cloud Security Posture Management market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. Microsoft Corporation and IBM Corporation are some of the key manufacturers operating in the Cloud Security Posture Management market.
- In April 2020, Zscaler purchased Cloudneeti, a CSPM business, to decrease risk by detecting and mitigating compliance and data exposure policy violations. Cloud security would be improved by identifying and mitigating data breaches and compliance violations.
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Solutions segment dominated the market and held the largest market share of 56.3% in the year 2020
On the basis of components, the global Cloud Security Posture Management market is segmented into services and solutions. The solutions segment dominated the market and held the largest market share of 56.3% in the year 2020. This growth is because it provides information on a company’s public cloud infrastructure, including cloud resources, compliance, and helps clients reduce the risk of policy violations, cloud solution misconfigurations, and a lack of compliance and industry standards.
BFSI segment dominated the market and held the largest market share of 20.7% in the year 2020
On the basis of verticals, the global Cloud Security Posture Management market is segmented into includes IT and Telecommunication, BFSI, Healthcare, Public Sector, Retail and Trade, and Education. BFSI segment dominated the market and held the largest market share of 20.7% in the year 2020. The growth is due to the increasing usage of cloud computing platforms in banking and insurance businesses and the sector’s needs and requirement for the utmost security system.
SaaS segment dominated the market and held the largest market share of 61.4% in the year 2020
On the basis of the cloud model, the global Cloud Security Posture Management market is segmented into IaaS and SaaS. The SaaS segment dominated the market and held the largest market share of 61.4% in the year 2020. This growth is attributed to the relatively secure characteristics, ease of setup and maintenance, and virtual cloud support.
