< Key Hightlight >

The post-COVID 19 global Cloud Security Posture Management (CSPM)market size is expected to grow from USD 4.0 billion in 2020 to USD 9.0 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 14.4% during the forecast period. 

The major factors fueling the Cloud Security Posture Management (CSPM) market include increasing cases of security breaches due to cloud misconfigurations, lack of security tools and processes to reduce the risk of cloud infrastructure security ad breaches.in the Covid-19, the use if cloud based solutions and services has increased, which has also increased the demand of cloud infrastructure security solutions. This surge in demand is expected to provide lucrative opportunities for Cloud Security Posture Management (CSPM) vendors.

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COVID 19 IMPACT

• With the adoption of new devices, security and access patterns and processes used to maintain cloud environments while working from home have increased the risk of data breaches. An increase in the remote workforce has surged the usage of security tools and Identity Access Management (IAM) services to access the cloud due to which many enterprises avoid configuring their servers and network to complete work in a short span of time, which leads to the increase in misconfiguration.
• Several companies have come up with cloud posture management solutions during this pandemic. For instance, Zscaler is providing its clients with advanced cloud security posture management solutions with a higher data center capacity to handle the sudden surge in the online cloud demand.
• According to a report by the DNS security firms EfficientIP, there is a sudden surge in the adoption of cloud services during the pandemic. Due to social distancing, millions of workers across the world are enabled to work from home, which has forced organizations and small enterprises to move business-critical applications to hybrid cloud environments, which creates an opportunity for the adoption of cloud security posture management.

Market Dynamics

Driver: Increasing instances of cloud breachesdue to its misconfiguration is expected to drive the demand of cloud security posture management

With complex and fragmented hybrid cloud networks, it is impossible for network security teams to cope up with the changes. IT and security teams are challenged by a lack 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 often bypassing security. Constant changes in the cloud make it difficult to store data appropriately. With the growth in cloud adaption, the chances of misconfigurations have increased significantly. Cloud security and posture management help monitoring with the help of automation, which helps security personals fix the problem as soon as notified. According to a report by CheckPoint, in 2020, 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%). Recently, Capital One, an American financial institution, had a threat detection on SQL databases that was misconfigured, which left the cloud open for vulnerabilities and data breaches. Around 100 million customer’s data were compromised, which included SSNs, credit scores, and addresses. Cloud security posture management can help protect this kind of misconfiguration.

Restraint: Lack of awareness toward cloud resources, cloud security architecture, and strategy

Along with the trend of migration toward the cloud, many organizations are unaware of the number of cloud resources running and the process of configuring them. Many organizations are still lacking key identity-related security controls. This lack of visibility causes misconfigurations that go undetected for a long period, which makes it even harder to secure cloud applications. Furthermore, organizations migrating a portion of their IT infrastructure to public clouds face the improper implementation of security architecture to withstand cyberattacks. Lack of understanding about the shared security responsibility model also contributes toward cyber breaches. Today, cloud environments have become large and complex for many enterprises for which automation is of utmost necessity. Lack of awareness of a major number of enterprises toward the benefit of cloud security posture management, cloud security architecture, and strategy acts as a restraint for the CSPM market.

Opportunity: Increasing migration of businesses to cloud is expected to give an opportunity for cloud security posture management vendors

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

Challenge: Lack of awareness among enterprises about the benefits of CSPM solutions

Enterprises rely on cloud services for on-demand storage power and computing resources. Organizations face numerous security and configuration challenges with the deployment of cloud computing solutions. One of the most troublesome issues for organizations is the cost. Without proper cloud configurations, the public cloud could cost more than the estimated cost set by organizations. With the increase in the adoption of cloud solutions and services, such as AWS, Azure, GCP, and Kubernetes, there is an increase in the risk of data explosion and identity complexity. Cloud providers only provide basic support to the clients, which is not sufficient to handle multi-cloud capabilities.

Users in developing regions, such as MEA and Latin America, are not extremely familiar and aware of the benefits and potential of CSPM. Factors such as data security and logistics of integrating CSPM on existing systems also affect the growth of the market. Cloud misconfiguration is the major cause of data breaches involving public cloud services offered by AWS, Microsoft Azure, and Google Cloud Platform. Due to the increasing complexity of cloud computing solutions, it has become difficult to detect zero-day (unknown) threats in the cloud infrastructure.

Many cloud users are still not aware of the advantages of leveraging CSPM solutions. CSPM addresses the cloud risks by helping cloud users with secure and automatically remediated cloud configurations. Relying on CSPM solutions to manage the entire cloud portfolio, compliance violations, cloud risks, and misconfigurations in an organization’s cloud infrastructure could help overcome barriers in the deployment of CSPM in the future.

SaaS CSPM segment to grow at a higher CAGR during the forecast period

SaaS is a cloud subscription service that enables organizations to subscribe to applications without in-house staff support. Microsoft Office 365, Salesforce.com, Cisco WebEx, and Adobe Creative Cloud are some of the popular SaaS applications in the market. SaaS providers are increasingly partnering with software developers to roll out software updates as soon as they are released. Experienced SaaS providers are data security specialists that host clients’ software in highly secure facilities. With the proliferation of cloud collaboration tools amid the pandemic, SaaS businesses are expecting growth as these solutions are easier-to-deploy, manage, and support virtually on the cloud. Capabilities such as DLP, compliance, and industry regulations 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.

Healthcare vertical to grow with the fastest growing CAGR during the forecast period

With an exponential rise in the generation of patient data, healthcare providers are increasingly relying on cloud data services to combat storage and security challenges. The need to comply with privacy and data security requirements, such as the Health Insurance Portability and Accountability Act (HIPAA) and Health Information Technology for Economic and Clinical Health (HITECH) requires healthcare organizations to secure information that is migrated to the cloud. Healthcare organizations are rapidly implementing mobile devices and digital advancements, with the adoption of cloud security. There has also been an acceleration in the number of cyberattacks, such as ransomware and misinformation campaigns on healthcare organizations with the COVID-19 outbreak. Leveraging cloud security could positively impact the healthcare sector’s security posture, and remediate ransomware attacks on edge devices, such as IT infrastructure and file servers. Post covid-19, it is expected that CSPM would grow with the fastest-growing CAGR in the healthcare vertical due to an increasing IT spending on the public cloud by healthcare organizations.

North America to hold the largest market size during the forecast period

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North America is expected to be the largest contributor in terms of the market size in the global CSPM market. The US, in spite of having stringent laws, offers various opportunities for CSPM providers to cater to a wide range of customers across various industries. North American organizations have taken various steps toward cloud adoption and increasingly adopting cloud data protection methods, such as data encryption, DLP, data threat protection, and data integrity monitoring, and CSPM, to maintain operational functionality and business continuity and prevent misconfiguration.

Asia Pacific to grow with fastest growing CAGR during the forecast period

Asia Pacific, with effective government regulations and technological advancements, the CSPM market is witnessing tremendous growth opportunities in this region. Various developments are taking place in APAC concerning the adoption of technologies, such as BI tools, cloud, analytics, and rapid infrastructure development. APAC is the fastest-growing region in terms of the adoption of CSPM.

Key Market Players

Major vendors in the global Cloud Security Posture Management market 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).

Zscaler:

Founded in 2007 and headquartered in US, Zscaler is a cloud-based information security company that excels in web security, internet security, firewalls, sandboxing, antivirus, and malware protection. Its services are delivered through 150 global data centers. Cybersecurity solutions offered by Zscaler are Secure Internet Gateway, Next-Generation Firewall, Zscaler Web Security, Zscaler Internet Access (ZIA), Zscaler Cloud Sandbox, and Zscaler Cloud Firewall. Its clientele comprises more than 400 Fortune Global 2000 companies with its cloud-based SaaS solutions. For example, National Health Services in the UK leverage Zscaler cloud to secure millions of its users. Zscaler Cloud Security Platform detects 100 million threats per day, with 120,000+ security updates every day, across 185 countries.

Key Development:

In April 2020, Zscaler acquired Cloudneeti, a CSPM company, to reduce risk by identifying and mitigating compliance and data exposure policy violations. Cloudneeti will enhance Zscaler’s cloud security by discovering and eliminating data breaches and compliance violations. The CSPM solution of Cloudneeti takes configurations from the service providers, compares them against best practices, identifies misconfigurations, and fixes them to prevent breaches and ensure continuous compliance.