LONDON, Nov. 30, 2022 (GLOBE NEWSWIRE) — A huge increase in the number of people using the internet for employment, education and leisure is driving significant growth, according to The Business Research Company’s study of the Cloud Security Attitude Management Market managing the cloud security posture. The number of internet users has increased enormously for various reasons such as employment, education and leisure. One of the most influential and fastest developing technologies is the Internet, which has led to a further increase in the demand for Cloud Security Posture Management (CSPM). The consumption of CSPM technologies is triggered by the consequent sharp increase in bandwidth demand as well as an unexpected increase in the frequency of cyberattacks such as ransomware, distributed denial of service (DDoS) and other threats. For example, according to a recent report by Risk Based Security, 8.4 billion records were exposed in Q1 2020, a 273% increase from Q1 2019. Therefore, there is a need to secure the data as the use of the Internet increases and cyberattacks is the main concern of the customers, which has led to a positive shift in the demand for Cloud Security Posture Management.
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The global cloud security management market size is expected to grow $3.45 billion in 2021 to $4.05 billion in 2022 at a compound annual growth rate (CAGR) of 17.48%. The Russia-Ukraine war has, at least in the short term, disrupted the chances of a global economic recovery from the COVID-19 pandemic. The war between these two countries has resulted in economic sanctions against several countries, a surge in commodity prices and supply chain disruptions, affecting many markets around the world. It is expected to hit the cloud security management market $7.79 billion in 2026 at a compound annual growth rate (CAGR) of 17.76%.
New product innovation is the key trend gaining popularity in cloud security management. Large companies operating in the Cloud Security Posture Management market focus on developing new technological solutions to strengthen their position. For example, in October 2020, a US-based cybersecurity company, Palo Alto, launched Prisma Cloud 2.0. and recently launched its new category in cloud security – the cloud-native security platform for protecting cloud-native applications. Prisma Cloud Data Security was designed with the express intention of addressing the difficulties associated with locating and securing data at the volume and speed typical of public cloud systems. With the expansion of the new Prisma 2.0 technology, the provider wants to support the numerous companies that are actively adopting multi-cloud architectures across different computing paradigms. DevOps, cloud infrastructure, and security professionals can more securely protect the innovations that drive user engagement with Prisma Cloud 2.0. Therefore, trends like these give market players leverage by introducing such new product innovations to build a strong customer base.
The major players in the cloud security management market are IBM Corporation, Cisco Systems, Inc., Microsoft Corporation, VMware, Inc., Check Point Software Technologies Ltd., Palo Alto Networks, Inc., Sophos Group PLC, Crowdstrike Holdings, Inc ., Atos Group, Forcepoint LLC, CipherCloud, Aqua Security, Adaptive Sheild, CloudPassage and Blazeclan Technologies.
By component, the global Cloud Security Posture Management market is segmented into Solutions and Services; by organization size into large companies, small and medium-sized companies; by cloud model: in Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), Software-as-a-Service (SaaS); by industry in BFSI, Healthcare, Retail, Commercial, IT, Telecom, Public Sector.
North America was that largest region in Cloud Security Posture Management Market in 2021 and is expected to be the fastest growing region during the forecast period. The regions covered in Cloud Security Posture Management market report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Cloud Security Posture Management Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company which covers Cloud Security Posture Management market forecast, size and growth of the Cloud Security Posture Management Markets provides market segments, cloud security posture management, market trends, drivers and restraints, sales, profiles and market share of leading competitors in its competitive landscape section for 3,000+ industry reports covering 2,500+ market segments and 60 regions.
The report also includes an in-depth analysis of the impact of COVID-19 on the market. The reports are backed by 1,500,000 datasets, extensive secondary research and exclusive insights from interviews with industry leaders.
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