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2022

Cloud Security Posture Management Market

Cloud Security Posture Management Market Size, Share, Competitive Landscape and Trend Analysis Report by Offering (Solution, Service), by Cloud Service Model (Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), Software-as-a-Service (IaaS)), by Enterprise Size (Large Enterprises, SMEs), by Industry Vertical (BFSI, Government & Defense, Retail & E-commerce, Healthcare, IT & Telecom, Energy & Utilities, Manufacturing, Education, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

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Author's: Pramod Borasi| Kashinath Ghatke | Vineet Kumar
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Cloud Security Posture Management Market Research, 2031

The global cloud security posture management market size was valued at $4 billion in 2021, and is projected to reach $15.2 billion by 2031, growing at a CAGR of 14.5% from 2022 to 2031.

Organizations all over the world are embracing cloud computing and storage to reduce costs and increase their agility. As more applications and data move to the cloud, the risk of systems or data being exposed increases. Furthermore, as organizations deploy services in different public clouds, maintaining security and compliance across environments becomes more complex.  Cloud security posture management (CSPM) is a category of automated data security solution that manages monitoring, identification, alerting, and remediation of compliance risks and misconfigurations in cloud environments. One of its most critical functions is continuous monitoring for gaps in the way security policies are enforced.

Reducing visibility in IT infrastructure and increasing configuration errors in cloud infrastructure, lack of efficient security tools, processes to manage cloud-based environments, and developing cloud security capabilities such as easy integration of DevSecOps and threat intelligence are some of the factors which are driving the market growth. However, lack of skilled expertise and lack of awareness of cloud resources, cloud security architectures, and strategies are some of the factors expected to hinder Cloud Security Posture Management Market Growth.

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The cloud security posture management market is segmented into Offering, Cloud Service Model, Enterprise Size and Industry Vertical.

Segment Review

The cloud security posture management market analsyis is segmented on the basis of offering, cloud service model, enterprise size, industry vertical, and region. On the basis of offering, the market is segmented into solution and service. Depending on service, the market is segmented into professional services and managed services. Furthermore, based on professional services, it is segmented into consulting, implementation & integration, and support & maintenance. Based on cloud service model, the market is segmented into Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS) and Software-as-a-Service (SaaS). According to enterprise size, it is fragmented into large enterprises and SMEs. Depending on industry vertical, the market is segregated into BFSI, government & defense, retail & e-commerce, healthcare, IT & telecom, energy & utilities, manufacturing, education and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Some of the major players in the Cloud Security Posture Management Industryare Atos Group, Check Point Software Technologies Ltd., Cisco Systems, Inc., Crowdstrike, Inc., Fortinet, Inc., Fujitsu Limited, IBM Corporation, Lookout Inc., McAfee, LLC, Microsoft Corporation, Optiv Security, Inc., Palo Alto Networks, Inc., Oracle corporation, Sophos Group PLC., Trend Micro Inc., VMware, Inc., and ZScaler.

Cloud Security Posture Management Market by Offering

On the basis of offering, the solution segment dominated the Cloud Security Posture Management Market Share in 2021, and is expected to maintain its dominance during the forecast period due to rapid implementation of cloud solutions and services across various verticals such as BFSI and manufacturing. However, services segment registered highest growth rate during the forecast period as increase has been witnessed in the adoption of cloud security posture management services among end users, as they ensure effective functioning of solutions.

Cloud Security Posture Management Market by Region

Region wise, the cloud security posture management industry was dominated by North America in 2021, and is expected to retain its position during the forecast period. This is attributed to number of factors such as rapid adoption of cloud data protection solutions to maintain operational capabilities and prevent cloud misconfiguration. In addition, presence of growing number of cloud security posture management vendors across the U.S. and Canada is expected to provide lucrative opportunities for the market. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to wide presence of small-and medium-scale organizations, which are turning toward cloud security posture management solutions to efficiently manage their cloud system, particularly in developing countries such as China, India, and South Korea.

COVID-19 Impact Analysis

The global COVID-19 pandemic has drastically affected businesses across the world. It has positively impacted the adoption of cloud security posture management solution due to lockdown imposed by governments of different countries. Post Covid-19 situation, companies are focusing on emerging technology such as AI-powered solutions, cloud computing, automation, among others. Furthermore, increase in security threats such as cyber-attack, data theft across industries such as BFSI, healthcare, and government creates the demand for cloud security posture management solution to perform contactless operations safely and securely. Furthermore, as industries are rapidly moving toward digitalization, it creates the demand for robust security solution to provide agile efficiency and as well as real-time reporting features, providing lucrative growth opportunities for market growth during the forecast period. Furthermore, the growing migration of businesses towards cloud and the advent of SMEs businesses in emerging countries is expected to create opportunities for the cloud security posture management market.  

Top impacting factors     

Factors such as rapid digitization in businesses and increase in adoption of cloud-based services impact growth of the IoT market globally. In addition, the market growth is affected by lack of awareness regarding digital threat and high cost of innovation and budget constraints. Furthermore, surge in demand for robust security among enterprises influences the market growth. However, each of these factors is anticipated to have a definite impact on growth of the global IoT market during the forecast period.                                                                 

Increase in adoption of cloud-based services

As industries are shifting their operation or part of their work to the cloud, new cyber concerns such data theft, malicious attack or ransomware attacks are increasing. Furthermore, enterprises are increasingly integrating and converging security solutions such as cloud security posture management suites to combat the rising cloud-based security concern. In addition, key vendors have started integrating advanced technologies, including AI, powered solution, big data and automation to offer better security solutions. Furthermore, adoption of cloud security posture management enables organizations to address a variety of security responsibilities, such as compliance assessment, operational monitoring, incident detection and response, and visualization of risks. Thus, all these factors propel the growth of cloud security posture management market during the forecast period.                                                                                                 

Surge in demand for robust security among enterprises                      

Cybersecurity incidents are a growing threat to the ecosystem of industries, such as the healthcare sector, is a technology-saturated and complex having high endpoint complexities. Cyber vulnerability of hospital infrastructure in a country is affected by vulnerabilities in all individual healthcare facilities. Furthermore, increase in penetration of the cloud-based services and exposure to new cybersecurity vulnerabilities are expected to offer remunerative opportunities for the growth of the global cloud security posture management market. In addition, rise in incidence of digital threat such as ransomware attacks and increase in data breaches & theft of sensitive data have increased the demand for cloud security posture management solutions, which is expected to open new avenues for the market growth.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the Cloud Security Posture Management Market Forecast, current trends, estimations, and dynamics of the cloud security posture management market analysis from 2021 to 2031 to identify the prevailing cloud security posture management market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the cloud security posture management market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global cloud security posture management market trends, key players, market segments, application areas, and market growth strategies.

Cloud Security Posture Management Market Report Highlights

Aspects Details
Cloud Security Posture Management Market By Offering
By Offering
  • Solution
  • Service
    • Service Type
      • Professional Services
      • Managed Services
Cloud Security Posture Management Market By Cloud Service Model
By Cloud Service Model
  • Infrastructure-as-a-Service (IaaS)
  • Platform-as-a-Service (PaaS)
  • Software-as-a-Service (IaaS)
Cloud Security Posture Management Market By Enterprise Size
By Enterprise Size
  • Large Enterprises
  • SMEs
Cloud Security Posture Management Market By Industry Vertical
By Industry Vertical
  • BFSI
  • Government & Defense
  • Retail & E-commerce
  • Healthcare
  • IT & Telecom
  • Energy & Utilities
    • Sector Type
      • Energy
      • Utilities
  • Manufacturing
  • Education
  • Others
Cloud Security Posture Management Market By Region
By Region
  • North America  (U.S., Canada)
  • Europe  (UK, Germany, France, Italy, Spain, Netherlands, Rest Of Europe)
  • Asia-Pacific  (China, Japan, Singapore, Rest Of Asia-Pacific, India, Australia, South Korea)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players
Key Market Players

Trend Micro Inc., Atos Corporation, Lookout Inc., McAfee, LLC, IBM Corporation, Fujitsu Limited, Microsoft Corporation, Check Point Software Technologies Ltd., Fortinet, Inc., Oracle corporation, Crowdstrike, Inc., Sophos Group PLC., VMware, Inc., Optiv Security, Inc., ZScaler, Cisco Systems, Inc., Palo Alto Networks, Inc.

Analyst Review

In accordance with insights by CXOs of leading companies, the global cloud security posture management market is projected to witness prominent growth, especially in Asia-Pacific and North America. Market growth in North America is driven by rapid adoption of cloud data protection solutions to maintain operational capabilities and prevent cloud misconfigurations. In addition, the Asia Pacific cloud security posture management market is anticipated to expand rapidly during the forecast period. This can be attributed to increasing adoption of cloud-based solutions and services among SMEs, effective government regulations, cyber and malware attacks, and technological advancements. In addition, the current business scenario has witnessed increase in adoption of cloud security posture management solutions in developed as well as developing regions as CSPM tools maximizes business efficiency by minimizing operational efforts with faster processing times and lower security issues.

Prominent market players are exploring new technologies and platforms to meet increase in customer demands. Product launches, partnerships, and acquisitions are expected to enable them to expand their product portfolios and penetrate different regions. For instance, in In February 2022, Check Point acquired Spectral to advance CloudGuard, with a developer-first security platform and provide the widest range of cloud application security. In addition, LAMEA is expected to grow at a significant growth rate, predicting a lucrative market growth for cloud security posture management solutions, especially in countries such as Brazil, South Africa, and UAE due to high rate of adoption of cloud technology by manufacturing and retail sector in the region.

Prominent market players are exploring new technologies and platforms to meet the increase in customer demands. Product launches, partnerships, and acquisitions are expected to enable them to expand their product portfolios and penetrate different regions. For instance, in May 2021, Boomi and Solace, a leading provider of event streaming and management capabilities, announced that the European retail distributor, The Mousquetaires Group, has chosen both companies to support its digital transformation and the adoption of a hybrid integration platform.

 Asia-Pacific exhibits the highest adoption of cloud security posture management platform. On the other hand, LAMEA is expected to grow at a significant growth rate, anticipating a lucrative market growth for cloud security posture management, especially in countries such as Brazil, South Africa, and UAE due to rise in digital infrastructure.

Author Name(s) : Pramod Borasi| Kashinath Ghatke | Vineet Kumar
Frequently Asked Questions?

Factors such as rapid digitization in businesses and increase in adoption of cloud-based services impact growth of the IoT market globally. In addition, the market growth is affected by lack of awareness regarding digital threat and high cost of innovation and budget constraints. Furthermore, surge in demand for robust security among enterprises influences the market growth. However, each of these factors is anticipated to have a definite impact on growth of the global IoT market during the forecast period.

Region wise, the cloud security posture management market was dominated by North America in 2021, and is expected to retain its position during the forecast period. This is attributed to number of factors such as rapid adoption of cloud data protection solutions to maintain operational capabilities and prevent cloud misconfiguration. In addition, presence of growing number of cloud security posture management vendors across the U.S. and Canada is expected to provide lucrative opportunities for the market.

The global cloud security posture management market was valued at $3,945.27 million in 2021, and is projected to reach $15,213.42 million by 2031, registering a CAGR of 14.5% from 2022 to 2031.

Some of the major players in the market are Atos Group, Check Point Software Technologies Ltd., Cisco Systems, Inc., Crowdstrike, Inc., Fortinet, Inc., Fujitsu Limited, IBM Corporation, Lookout Inc., McAfee, LLC, Microsoft Corporation, Optiv Security, Inc., Palo Alto Networks, Inc., Oracle corporation, Sophos Group PLC., Trend Micro Inc., VMware, Inc., and ZScaler.

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Cloud Security Posture Management Market

Global Opportunity Analysis and Industry Forecast, 2021-2031