The global Cloud Security Posture Management (CSPM) market size in the post-COVID-19 scenario is projected to grow from USD 4.0 Billion in 2020 to USD 9.0 Billion by 2026, at a CAGR of 14.4% during the forecast period. The major factors driving the market include the increase in the misconfiguration, and lack of security tools and processes to protect the cloud environment.
By component, CSPM solutions segment to have the highest market share during the forecast period
CSPM solution provides visibility into the public cloud infrastructure of an organization, including cloud resources, compliance, and cloud configurations. CSPM solutions were earlier known as Cloud Infrastructure Security Posture Assessment (CISPA). The solutions are developed to help the consumers mitigate the risk of policy violations, misconfigurations of cloud solutions, and lack of compliance and industry standards (CIS, NIST, and HIPAA). In the Covid-19 pandemic, the increasing data and traffic on the public cloud and lack of expertise of cloud configurations, have made the cloud resources more vulnerable than the 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 in the coming years, globally.
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By Vertical, BFSI segment to have the highest market share during the forecast period
Banks and financial institutions are increasingly moving their data on the cloud environment, amid the COVID-19 outbreak. With the widespread adoption of cloud computing platforms, finance and insurance companies are required to meet the highest security standards set by the financial regulatory authorities. There is a constant need for proper security measures and vigilance to protect organizations from potential cloud attacks. Consequently, the adoption of cloud security would resolve such challenges. Financial institutes are always the early adopter of advanced and upgraded technologies. CSPM is one of the essential security tools that are developed to secure the posture of the deployed cloud resources, which has significant applications in the BFSI vertical.
The vendors covered in the CSPM market report include IBM Corporation (US), VMware, Inc. (US), Microsoft Corporation (US), CheckPoint Software Technologies Pvt Ltd (Israel), McAfee Corporation (US), Fortinet (US), Forcepoint (US), FireEye (US), Zscaler (US), Cisco Systems (US), Optiv Security (US), Sophos Group Plc. (UK), Atos (France), Palo Alto Networks, Inc. (US), CrowdStrike Holdings Inc. (US), CipherCloud (US), Aqua Security (US), Aujas Cybersecurity (US), Armor Defense Inc (US), BitGlass (US), Hillstone Networks (China), Netskope (US), DivvyCloud Corporation (US), Fugue, Inc (US), Orca Security (Israel), Accurics (US), AppOmni (US), CloudPassage (US), OpsCompass, LLC (US), Adaptive Shield (Israel), and Blazeclan Technologies (India). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions to expand their footprint in the CSPM market.
Cisco (US), an American multinational company, founded in 1984 and is headquartered in California, US. It is a American multinational company that develops and sells software, networking hardware, telecom equipment, and high technology services and products. The company’s technological solutions are Cisco Networking, Cisco Security, Cisco IoT, and Cisco Data Center. Cisco’s security solutions portfolio includes data security, Wireless Access Network (WAN) security, endpoint security, Multi-Factor Authentication (MFA), and CSPM. It offers a plethora of products and services in networking, Internet of Things (IoT), mobility and wireless, security, collaboration, data center, and the cloud. Its extensive product offerings include Next-Generation Network (NGN) routing, service provider video, switching, wireless, and data center security. Cisco is among the top network security companies due to its constant investment in Research and Development (R&D), which enables innovations in the form of high-quality products and services. The company’s service offerings include advisory, implementation, training, managed, and technical services. Cisco Systems has established its dominance in the global CSPM market by creating personal distribution channels, employing an aggressive sales force, and strategically collaborating with different channel partners. It caters to diverse business houses, such as large enterprises, commercial businesses, service providers, and consumers. The company has strategic alliances with Apple, A10 Networks, Alien Vault, Amazon Web Services (AWS), Centrify, Fortinet, Google, and IBM Security. It has a significant presence in North America, Latin America, APAC, Europe, and the Middle East. The benefits offered by Cisco cloud security product portfolio email security, SaaS applications security, public cloud infrastructure visibility, real-time cloud monitoring, multi-cloud network protection, and multi-cloud workload protection. Cisco also provides free trialls of its cloud security applications including Cisco Umbrella, Cisco Email Security, AppDynamics, and Stealthwatch Cloud.
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Microsoft was founded in 1975 and is headquartered in Washington, US. It is a public company listed and traded on NASDAQ under the ticker symbol MSFT. The company’s global employee count was 144,000, as of 2019. It designs and develops various cloud-based software solutions and hardware products. It also provides professional as well as managed services associated with these offerings, apart from the support and consulting services for its cloud and security solutions, to customers. The company offers a strong security as a service solution portfolio, which includes Azure AD Identity Protection, Azure AD Privileged Identity Management, Cloud App Security, Advanced Threat Protection, and Advanced Threat Analytics. Its cloud app security includes endpoint detection and response, Identity and Access Management (IAM), Data Loss Prevention (DLP), unified endpoint management, and CSPM. Microsoft focuses on a mix of organic and inorganic growth strategies to strengthen its market position in the CSPM market. It plans to make huge investments in CSPM to foster innovation and support its services in future. It has a strong partner network, which supports innovative concepts and helps maintain its competitive position. The Azure Security Center offers benefits such as multi-layered security, DDoS protection, dedicated security center, information protection, and secure application gateway to protect the cloud environment.
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