Cloud Security Posture Management Market Expected to Reach $15.2 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Cloud Security Posture Management Market," The Cloud Security Posture Management Market Size was valued at $4 billion in 2021, and is estimated to reach $15.2 billion by 2031, growing at a CAGR of 14.5% from 2022 to 2031.

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.

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.

North America dominates the cloud security posture management industry. Growth of the market in this region is attributed to several factors such as increase in digitalization and adoption of cloud security posture solutions by the government and retail sector. Moreover, presence of key players is providing ample growth opportunities for market growth. However, Asia-Pacific is expected to witness highest growth rate during the forecast period due to rapid expansion of digital infrastructure across the region.

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.

KEY FINDINGS OF THE STUDY

• By offering, the solution segment accounted for the largest cloud security posture management market share in 2021.
• By cloud service model, Infrastructure-as-a-Service (IaaS) segment generated highest revenue in 2021.
• By region, North America generated highest revenue in 2021.
• By vertical, the BFSI segment segment accounted for the largest cloud security posture management market forecast in 2021.

The key players that operate in the cloud security posture management market analysis 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. These players have adopted various strategies to increase their market penetration and strengthen their position in the cloud security posture management industry.