MarketsandMarkets forecasts the cloud security posture management market size to grow from USD 4.2 billion in 2022 to USD 8.6 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 15.3% from 2022 to 2027. Low visibility across the IT infrastructure and increase in configuration errors in cloud infrastructure, absence of efficient security tools and processes to handle the cloud-based environments and developing cloud security capabilities such as easy DevSecOps integration and threat intelligence are some of the factors that are driving the market growth.
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What is CSPM?
Considering the sources and association’s views on CSPM, MarketsandMarkets defines CSPM as “the process of mitigating the risks while migrating to cloud. Here, compliance and security policies assessment, mitigating misconfiguration of cloud-based application deployment, reducing vulnerabilities are some of the elements associated with CSPM.”
By component, solution segment to hold the largest market size during the forecast period
Based on components, the CSPM market is segmented into solutions and services. CSPM solution provides visibility into the public cloud infrastructure of an organization, including cloud resources, compliance, and cloud configurations. CSPM solutions provide the necessary cloud visibility to detect and prevent configuration errors before they cause a breach. Some CSPM solutions may even leverage AI to predict where risks are likely to arise in the future. In the COVID-19 pandemic, the increasing data and traffic on the public cloud and lack of expertise in cloud configurations have made cloud resources more vulnerable than in previous years. CSPM solutions are designed and developed to handle cloud misconfigurations and policy violations. The increasing cloud adoption and IT spending on the public cloud are expected to fuel the market growth of CSPM solutions in the coming years globally.
By cloud model, SaaS security posture management (SSPM) to grow at a higher CAGR during the forecast period
SaaS applications are sometimes called Web-based software, on-demand software, or hosted software. Whatever the name, SaaS applications run on a SaaS provider’s servers. The provider manages access to the application, including security, availability, and performance. Capabilities such as DLP, compliance, and industry regulation solutions and advanced malware prevention are attracting enterprises to use SaaS security solutions. Due to multiple benefits, CSPM providers are now integrating SaaS into CSPM solutions to offer a single solution for SaaS and IaaS-based cloud security services. Companies such as AppOmni and Adaptive Shield are some of the few companies offering SaaS-based CSPM solutions.
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Unique Features in the Cloud Security Posture Management Market
First and foremost, CSPM technologies offer thorough visibility into a company’s cloud infrastructure. They provide a uniform view of all cloud assets, configurations, and security rules across various cloud providers. This high visibility is essential for spotting configuration errors and vulnerabilities that could otherwise go undetected. Organisations can use it to track changes in real-time and acquire a comprehensive picture of their cloud infrastructures.
The nature of CSPM solutions is very proactive. They detect any abnormalities by automatically comparing cloud setups to compliance standards and security best practises. These tools can start remedial procedures or real-time notifications in the event that a misconfiguration or non-compliance issue is found. By taking a proactive approach, security concerns are quickly resolved, lowering the chance of prospective breaches.
Additionally, CSPM products frequently contain security benchmarks and threat intelligence feeds, allowing organisations to align their cloud security with the most recent threat information and industry standards. Through this dynamic connection, cloud infrastructures are kept robust to new threats and compliant with changing legal requirements.
Offering remediation advice is another distinguishing quality of CSPM. These solutions go beyond simply warning users when vulnerabilities or configuration errors are found; they also offer practical advice on how to resolve the problems. With the help of this functionality, security teams may more easily fix issues and improve their posture with regard to cloud security.
Automating common security tasks is a strength of CSPM tools. They allow businesses to automate procedures for remediation, configuration evaluations, and compliance checks. Organisations wishing to cut down on human work, improve operational effectiveness, and reliably implement security policies across their cloud assets can find great benefit from this automation.
Major Highlights of the Cloud Security Posture Management Market
Real-time monitoring and alerting is one of CSPM’s standout features. Cloud resource and configuration real-time monitoring is possible using CSPM tools. This real-time monitoring plays a key role in spotting security flaws, vulnerabilities, and departures from best practises, and it also has the added benefit of providing prompt alerts and notifications to help mitigate security risks.
CSPM heavily relies on automation, which automates security evaluations and corrective measures. CSPM tools can automatically rectify configuration errors or policy violations or they can give remediation recommendations that are prescriptive. In addition to enhancing an organization’s security posture, this automation greatly lessens the workload placed on security professionals.
Another notable trait of CSPM solutions is ongoing compliance. Even in highly regulated industries like healthcare and finance, they provide automated compliance tests to guarantee that cloud environments comply with specified regulations. Organisations are very concerned about compliance, and CSPM technologies make keeping compliance much easier.
One distinctive quality of CSPM solutions is proactive threat prevention. These tools make use of threat intelligence to proactively find vulnerabilities and threats as they emerge. For organisations that wish to remain ahead of cyber threats, this strategy is essential in averting security incidents before they happen.
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The CSPM market is led by some of the globally established players such as VMware, Fujitsu, Palo Alto Networks, Cisco, Check Point, and IBM. These players have adopted various growth strategies such as partnerships, agreements, collaboration, acquisitions and product developments to increase their market presence.
VMware holds a prominent position in the cloud security posture and management market space. The company offers a robust set of solutions and services in the market and enables customers to tackle challenges in any security threat. The company offers a multi-cloud operations facility that helps reduce the risk of misconfiguration, prioritize risk mitigation activities, detect threats in real-time, accelerate issue investigation, and unify SecOps and DevOps. Through its innovative CSPM products and services, VMware enables its customers to implement cloud solutions and services. The company focuses on offering end-to-end solutions through huge R&D investments, thus constantly enhancing its product offerings. It offers several products and solutions for cloud security through its cloud platform. VMware has built a reliable distribution network that can reach most of its potential market. The strong presence across the globe is one of the key factors leading to a good market share in the CSPM market.
Apart from large and SME players, start-ups such as Orca Security (Israel), AppOmni Inc. (US), Adaptive Shield (Israel), OpsCompass (US), C3M, LLC (US), Wiz.io (US), Caveonix (US), Ermetic (US), Obsidian Security (US), and Ascend Technologies (US) are also evolving in network forensics market space.
Founded in 2020, Wiz.io offers a cloud security platform to assess security and risk at PaaS, IaaS, containers, and serverless architectures. The cloud security platform identifies risk and security issues in the public cloud infrastructure. Wiz.io cloud security platform can be deployed on AWS, Azure, and Google Cloud or on-premises, including OpenShift. The company has recently received Series C investment of USD 250 million which has tripled its valuation to approx. USD 6 billion in 2021. Wiz.io’s customer base includes the Fortune 500 companies such as Blackstone, Salesforce, Slack, The Home Depot, Rivian, DocuSign, and UiPath. The company has witnessed a significant growth in past 2 years which makes it one of the progressive start-ups in the CSPM market.
According to MnM’s market evaluation framework, most companies opt for inorganic growth strategies to maintain their position in the market. The number of deals increased by around 50-60% relatively in the period of 2020-2021. These deals collectively include partnerships, acquisitions, collaborations, and alliances. Due to the COVID-19 outbreak, there was a sudden decline in product launches and business expansion activities. However, from 2021 onward, companies are expected to follow organic growth strategies to provide CSPM solutions and services to end users, which, on the other hand, would help companies in increasing their market revenue.
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