Global Cloud Security Posture Management Market Analysis: Trends, Growth Drivers, and Forecasts
Surge in internet penetration and adoption of cloud technology by various verticals such as BFSI and manufacturing during COVID-19 impacted the
market growth.
PORTLAND, PORTLAND, OR, UNITED STATES, February 28, 2024 /EINPresswire.com/ — According to the report published by Allied Market Research, the global cloud security posture management market generated $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.
The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Cloud security posture refers to an organization’s overall cybersecurity strengths and ability to identify, avoid, and respond to the changing threat landscape. Security teams can efficiently view security vulnerabilities and vulnerabilities in real-time, track the current status and effectiveness of existing security controls, and prevent, detect, and remediate threats to understand the required attack surface to create a strong security position.
The increased use of cloud-based solutions and services by remote workers during the COVID-19 pandemic has increased the demand for cloud infrastructure security solutions. This is the main factor expected to drive the market. In addition, the increasing migration of businesses to the cloud and the emergence of SMEs in emerging countries are expected to create opportunities in the cloud security posture management market. However, lack of awareness about the benefits of cloud resources, cloud security architecture, and cloud security state management is expected to hamper the cloud security state management market during the forecast period.
The report offers detailed segmentation of the global cloud security posture management market based on offering, cloud service model, enterprise size, industry vertical, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.
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Based on enterprise size, the large enterprises segment held the dominating market share in 2021, holding nearly three-fourths of the global market, and is expected to maintain its leadership status during the forecast period. The SMEs segment, on the other hand, is expected to cite the fastest CAGR of 16.2% during the forecast period.
Based on region, the market across North America held the dominating market share in 2021, holding more than one-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 16.7% during the forecast period.
Based on cloud service model, the Infrastructure-as-a-Service (IaaS) segment held the largest market share in 2021, holding nearly three-fourths of the global market share, and is expected to maintain its leadership status during the forecast period. The Platform-as-a-Service (PaaS) segment, on the other hand, is expected to cite the fastest CAGR of 17.2% during the forecast period.
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By offering, the solution segment dominated growth of the cloud security posture management market size in 2021, and is expected to maintain its dominance in the upcoming years due to rapid adoption of CSPM solutions across various verticals such as BFSI and manufacturing. However, the services segment is expected to witness highest growth rate during the forecast period due to high need of CSPM services for smooth operations and efficiency.
COVID-19 Scenario:
• The outbreak of COVID-19 has had a positive impact on the growth of the global cloud security posture management market, owing to the occurrence of lockdowns in various countries across the globe.
• Stringent social distancing restrictions were imposed by the government so as to curb the spread of the virus during the pandemic.
• Lockdowns resulted in the increased internet penetration among people as more and more jobs were switched to work from home procedures. Thus, there was an increased need for cloud security, which positively impacted the growth of the market.
• In addition, advancements in cloud security capabilities are expected to create ample opportunities for the industry.
The key players analyzed in the global cloud security posture management market report include 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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The report analyzes these key players in the global cloud security posture management market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report helps analyze recent developments, product portfolio, business performance and operating segments by prominent players in the market.
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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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