Cloud Security Posture Management Market by Component (Solutions, Services); Cloud Model (IaaS, SaaS, and PaaS); Vertical (BFSI, Healthcare, Retail, IT and Telecommunications, Public Sector, Education, Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026073 | Pages: 100 | Industry: Technology, Media and Telecommunications | Date: Sep 2022 | Type: Global

The Cloud Security Posture Management market crossed US$ 4.3 billion mark in 2022 and is expected to hit US$ 11.5 billion by 2030, recording a CAGR of 13.1% during the forecast period.

Cloud security posture management market has been significantly growing with the rise in the configuration errors

With complex and fragmented hybrid cloud networks, network security teams can't cope with the changes. Security and IT teams are challenged by a absence of comprehensive visibility across this constantly evolving environment. The adoption of the DevOps method has also significantly increased the loopholes as the developers build and deploy applications rapidly and frequently bypass security. Constant changes in the cloud make it tough to store data appropriately. With the development in cloud adaption, the chances of misconfigurations have increased significantly. Cloud security and posture management help monitor with the help of computerization, which helps security employees fix the problem as soon as notified. In 2020, according to a report by CheckPoint, the biggest threat cited by respondents is a cloud platform configuration error (68%), followed by unauthorized cloud access (58%), unsecured interfaces (52%), and account theft (50%).

Within the report, the cloud security posture management market is segmented into component, cloud model, vertical, and geography. Based on component, the cloud security posture management market is segmented into solutions and services. Based on cloud model, the cloud security posture management market is segmented into IaaS, PaaS and SaaS. Based on vertical, the cloud security posture management market is segmented into BFSI, healthcare, retail, IT and telecommunications, public sector, education, and others. Geographically, the Cloud Security Posture Management market is subsegmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa. The Cloud Security Posture Management market in Asia Pacific holds the highest growth rate and is expected to retain its position during the forecast period (2022-2030). The high growth is due to the presence of most populous countries such as China and India in the region.

BFSI segment in industry vertical to hold significant share of Cloud Security Posture Management market during the forecast period (2022-2030)

Based on industry vertical, the BFSI segment is estimated to account for a significant Cloud Security Posture Management market share in 2022. It is expected to main the same position during the forecast period. The BFSI industry is a pioneer in implementing new technologies. Amid the COVID-19 outbreak, BFSI are increasingly moving their data to the cloud environment. With the widespread acceptance of cloud computing platforms, BFSI companies must meet the highest security standards set by the financial regulatory authorities. Financial service institutes are extending their partnerships with cloud security service providers to implement a cloud security control environment with global and regional regulatory requirements fulfilled. The banking and insurance sectors fear the adoption of the cloud computing platform due to the exposed potential vulnerabilities when moving data to the cloud. Collaboration with cloud security service providers to ensure the data's security helps financial institutions trust the usage of cloud services. There is a continuous need for proper security measures and vigilance to protect companies from probable cloud attacks.

Increasing adoption of cloud is one of the major factors accelerating the Cloud Security Posture Management market growth.

Every enterprise has adopted a mix of public, private, and hybrid cloud technologies. An upsurge in the agility and speeding delivery of new applications and services have given a major boost to the cloud market. With advancements in technology, traditional organizations are under huge competitive pressure. Most organizations are transferring their legacy IT infrastructure from on-premises to the cloud to become faster, agile, and stay competitive. Organizations who has shifted their legacy data center processes to a cloud environment can face problems like additional costs, capability bandwidth of IT team structure, and absence of vision which increases the requirement of cloud security posture management.

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Recent strategic developments in cloud security posture management market

The cloud security posture management market has undergone several significant developments, and a few of these have been mentioned below:

  • In March 2022, VMware has announced its partnership with Google Cloud. The partnership would work to help customers accelerate app modernization and cloud transformation.
  • In February 2022, Check Point acquired Spectral to advance CloudGuard, a developer-first security platform that provides the widest range of cloud application security.

The Cloud Security Posture Management market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Cisco Systems, Inc.; FireEye; Forcepoint; Fortinet, Inc.; IBM; McAfee, LLC; Microsoft; VMware, Inc.; and Zscaler, Inc. are among the prominent players operating in the cloud security posture management market.

Target audience for the report:

  • Cloud Security Posture Management software providers
  • Cloud Security Posture Management service providers
  • Cloud Security Posture Management associations, organizations, forums, and alliances
  • Venture capitalists, private equity firms, and start-up companies
  • End users of Cloud Security Posture Management
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the cloud security posture management market has been segmented on the basis of:

  • Component
    • Solutions
    • Services
  • Cloud Model
    • IaaS
    • SaaS
    • PaaS
  • Vertical
    • BFSI
    • Healthcare
    • Retail
    • IT and Telecommunications
    • Public Sector
    • Education
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • Cisco Systems, Inc.
    • FireEye
    • Forcepoint
    • Fortinet, Inc.
    • IBM
    • McAfee, LLC
    • Microsoft
    • VMware, Inc.
    • Zscaler, Inc.

Companies profiled

- Cisco Systems, Inc.
- FireEye
- Forcepoint
- Fortinet, Inc.
- IBM
- McAfee, LLC
- Microsoft
- VMware, Inc.
- Zscaler, Inc.

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