Global Cloud Security Posture Management Market

Cloud Security Posture Management (CSPM) Market Overview

The cloud security posture management (CSPM) market is valued at USD 4.2 billion in 2021, and it is estimated to reach USD 8.9 billion by 2028 at a CAGR of 15.3% during the forecast period of 2022-2028. Lacking visibility across the IT infrastructure and expansion in configuration errors in cloud infrastructure, scarcity of efficient security tools and techniques to manage the cloud-based environments, and development of cloud security abilities such as easy DevSecOps integration and danger intelligence are pushing the market growth.

What is Cloud Security Posture Management?

Cloud Security Posture Management is a market segment for IT security tools created to identify cloud misconfiguration issues and compliance risks. An essential purpose of CSPM programming is to continuously monitor cloud infrastructure for gaps in security policy enforcement. CSPM is normally used by organizations that have adopted a cloud-first strategy and want to extend their security best practices to hybrid cloud and multi-cloud environments. While CSPM is often associated with infrastructure as a Service (IaaS) cloud services, it can also operate the technology to minimize configuration mistakes and reduce compliance risks in Software as a Service (SaaS) and Platform as a Service (PaaS) cloud domains.

Growth Drivers

Inadequate visibility across the IT infrastructure and an upsurge in configuration errors to increase the adoption of Cloud Security Posture Management (CSPM) solutions

With the increase in cloud adaption, the chances of misconfigurations have improved significantly. Cloud security and posture management service monitoring with the help of automation allows security personnel to fix the problem as soon as notified. According to a statement by CheckPoint, in 2020, the biggest danger cited by respondents is a cloud platform configuration mistake (68%), followed by unauthorized cloud access (58%), unsecured interfaces (52%), and account theft (50%). Recently, Capital One, an American financial institution, had a misconfigured threat detection on SQL databases, which left the cloud available for vulnerabilities and data violations. Around 100 million customers’ data were compromised, including SSNs, credit scores, and addresses. Cloud security posture management can assist protect against this kind of misconfiguration.

Opportunities

Migration to the cloud provides an opportunity for cloud security posture management (CSPM).

An expansion in the agility and speeding delivery of new applications and services has given the cloud market a major boost. With technological improvements, traditional organizations are under tremendous competitive intimidation. To become quicker, agile, and competitive, most organizations share their legacy IT infrastructure from on-premises to the cloud. Associations migrating their legacy data center functions to a cloud environment can face additional costs, capability bandwidth of IT team infrastructure, and absence of vision, increasing cloud security posture management. According to a statement by the DNS security firm Efficient, there was a sudden increase in the acceptance of cloud services during the pandemic period. Due to social distancing, millions of workers worldwide are allowed to work from home, forcing organizations and small enterprises to push business-critical applications to hybrid cloud environments, which creates an opportunity to adopt cloud security posture management.

Restraints

Lack of skilled expertise to control and secure the CSPM solutions

When it comes to the CSPM solutions’ actual use, the experts or the staff need to have the needed technical skill and knowledge for implementing, processing, analyzing, and securing the cloud solutions. Organizations hiring security professionals lack the right to research and identify advanced security gaps while executing and managing the procedures. The Application Security Report from Fortinet and Cybersecurity Insiders discovered that a shortage of professional personnel tops the list of obstacles for 46% of the surveyed organizations to secure cloud-based infrastructure. It is a major problem across the security industry. There’s an assessed shortage of 3.12 million experts, according to (ISC) 2’s 2020 Cybersecurity Workforce Study. Given the specialized expertise required to operate and secure the cloud, the skills gap threatens to influence the ability of organizations to start cloud adoption. Organizations have no other but to turn to Software and automation to address this gap.

Pre covid-19 Impact on Global Cloud Security Posture Management Market

Before the covid-19 period, CSPM offerings delivered centralized, real-time visibility across cloud environments by analyzing and normalizing various data sources and creating a detailed asset inventory. CSPM constantly discovers new resources in real-time, monitors existing resources, and considers and displays security posture in one place, using graphics and tables that improve understanding, which helps increase the growth in the CSPM market.

Covid-19 Impact on Global Cloud Security Posture Management Market

During the covid-19 period, Due to the pandemic, the number of users worldwide who depended on the Internet for work, education, and entertainment increased enormously. The other influential sectors, such as BFSI, retail, and government, have also seen a significant increase in user traffic on their online portals and websites. This growth drives a substantial upgrade in bandwidth usage, with a sudden spike in cyberattacks, such as Distributed Denial of Service (DDoS), ransomware, and others.

Post covid-19 Impact on Global Cloud Security Posture Management Market

After the covid-19 period, Cloud Guard delivers cloud security and compliance posture management for cloud-native environments, including AWS, Azure, Google Cloud, Alibaba Cloud and Kubernetes. Cloud Guard automates security, management and compliance with customized policies, delivering high-fidelity visibility and control; all these advantages help to increase the growth of the global cloud security posture market.

By Component Segmental Analysis

Based on components, the global cloud security posture management market is segmented into Solutions and Services. CSPM solution delivers visibility into the public cloud infrastructure of an organization, including cloud resources, observation, and cloud configurations. CSPM solutions provide cloud visibility to detect and prevent configuration mistakes before they cause a breach. Some CSPM solutions may leverage AI to indicate where risks are likely to arise. In the pandemic period, the increasing data and traffic on the public cloud and the shortage of expertise in cloud configurations have created cloud resources better vulnerable than last years. CSPM solutions are designed and developed to manage cloud misconfigurations and policy breaches. The increasing cloud acceptance and IT spending on the public cloud is anticipated to fuel the market development of CSPM solutions in the future years globally.

By Vertical Segmental Analysis

Based on vertical, the global cloud security posture management market is segmented into BFSI, Healthcare, Retail & E-Commerce, IT & ITeS, Government and Education. The Healthcare segment to grow with the most rapid-growing CAGR during the forecast period. Healthcare providers increasingly rely on cloud data services to combat storage and security challenges with an exponential rise in inpatient data generation. Healthcare organizations need to secure information migrated to the cloud to concede to privacy and data security needs, such as the Health Insurance Portability and Accountability Act and Health Information Technology for Economic and Clinical Health. Healthcare organizations are rapidly executing mobile devices and digital improvements with the adoption of cloud security. Cloud computing is achieving traction due to the pandemic outbreak, expanded storage problems, and the ongoing work from home. With a rising demand for cloud storage and strict regulations, such as HIPAA, the need to deploy CSPM solutions in healthcare centers has become a mandate.

By Regional Segmental Analysis

Based on region, the global cloud security posture management market is segmented into North America, Europe, Asia-Pacific and the Middle East & Africa. North America is expected to be the largest supporter in terms of the market size in the global CSPM market. Despite having strict laws, the US offers different opportunities for CSPM providers to cater to a wide range of customers across various industries. North American organizations have taken different steps toward cloud adoption and increasingly adopting cloud data protection methods, such as data encryption, DLP, data threat protection, data integrity monitoring, and CSPM, to sustain operational functionality and business continuity and control misconfiguration.

Competitors Analysis

The companies include FireEye, Cisco Systems, International Business Machines Corporation, Microsoft Corporation, Forcepoint, Trend Micro, Fortinet, Ascend Technologies, Fujitsu Ltd., Cynet and other prominent players in the global cloud security posture management market. Key Stakeholders

• Market research and consulting firms
• Industry associations
• Global Cloud Security Posture Management Manufacturing Firms
• Local Governments
• Regulatory bodies
• Suppliers
• Retailers

Recent Developments

• In March 2022, VMware declared its partnership with Google Cloud. This partnership would work to help customers accelerate app modernization and cloud transformation.
• In February 2022, Check Point acquired Spectral to advance CloudGuard, with a developer-first security platform and deliver the widest cloud application security range.
• In November 2021, Sonrai Security Joined Microsoft Intelligent Security. Sonrai Dig combines Cloud Security Posture Management (CSPM), Cloud Infrastructure Entitlements Management (CIEM), and data security in one platform powered by a cloud identity graph.

Scope of the Report

Report Attribute	Details
Revenue in 2021	USD 4.02 Billion
The revenue forecast in 2028	USD 6.6 Billion
Growth Rate	CAGR of 8.44 % from 2022 to 2028.
Historical data	2017 – 2020
Base Year	2021
Forecast period	2022 – 2028
Region covered	North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	Fireeye, Cisco Systems, International Business Machines Corporation, Microsoft Corporation, Forcepoint, Trend Micro, Fortinet, Ascend Technologies, Fujitsu Ltd. and Cynet are the key players.

Market Modelling

By Component

• Solutions
• Services

By Cloud Model

• IaaS
• PaaS
• SaaS

By Vertical

• BFSI
• Healthcare
• Retail & e-commerce
• IT & ITeS
• Government
• Education

By Region

• North America
• Europe
• Asia Pacific
• South America
• The Middle East & Africa

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