Cloud Security Posture Management Market Reach USD 15.2 Billion by 2031 | Growing at a CAGR of 14.5%

Allied Market Research published a new report, titled, "Cloud Security Posture Management Market Reach USD 15.2 Billion by 2031 | Growing at a CAGR of 14.5%" The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

Reduction in IT infrastructure visibility, surge in configuration errors in cloud infrastructure, lack of efficient security tools & processes to manage cloud-based environments, and integration of DevSecOps and threat intelligence to boost global cloud security posture management market growth. Surge in internet penetration and increase in adoption of cloud technology by various verticals such as BFSI and manufacturing during the COVID-19 favorably impacted the growth of the global market.

The global cloud security posture management market size was valued at USD 4 billion in 2021, and is projected to reach USD 15.2 billion by 2031, growing at a CAGR of 14.5% from 2022 to 2031.

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The report offers detailed segmentation of the global cloud security posture management market based on offering, cloud service model, enterprise size, industry vertical, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.

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Based on cloud service model, the Infrastructure-as-a-Service (IaaS) segment held the largest market share in 2021, holding nearly three-fourths of the global market share, and is expected to maintain its leadership status during the forecast period. The Platform-as-a-Service (PaaS) segment, on the other hand, is expected to cite the fastest CAGR of 17.2% during the forecast period.

Based on offering, the solution segment held the largest market share in 2021, holding nearly two-thirds of the global market, and is expected to maintain its leadership status during the forecast period. The service segment, on the other hand, is expected to cite the fastest CAGR of 15.5% during the forecast period.

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Based on region, the market across North America held the dominating market share in 2021, holding more than one-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 16.7% during the forecast period.

The key players analyzed in the global cloud security posture management market report include 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.

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COVID-19 Scenario:

● The outbreak of COVID-19 has had a positive impact on the growth of the global cloud security posture management market, owing to the occurrence of lockdowns in various countries across the globe.

● Stringent social distancing restrictions were imposed by the government so as to curb the spread of the virus during the pandemic.

● Lockdowns resulted in the increased internet penetration among people as more and more jobs were switched to work from home procedures. Thus, there was an increased need for cloud security, which positively impacted the growth of the market.

● In addition, advancements in cloud security capabilities are expected to create ample opportunities for the industry.

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