Global Cloud Security Posture Management Market Forecast: Big Growth Predicted
The Global Cloud Security Posture Management (CSPM) Market is expected to rise at a rate of 15.2% CAGR (compound annual growth rate) per year into 2028. Such dramatic growth will create a $9.9 billion market within the next six years, according to a new study from ReportLinker: “Global Cloud Security Posture Management Market Size, Share & Industry Trends Analysis Report By Component, By Cloud Model, By Organization Size, By Vertical, By Regional Outlook and Forecast, 2022 – 2028.”
CSPM tools allow managed security services providers (MSSPs) and end-customers to monitor and properly configure Amazon Web Services (AWS), Microsoft Azure, Google Cloud Platform and other public cloud workloads. Misconfiguration affects organizations of all sizes and can result in significant financial losses.
Security posture, says ReportLinker, is an organization’s total cybersecurity strength and its ability to identify, avoid and respond to the always-changing threat landscape. To that end, security teams should be able to understand the attack surface, with efficient, real-time visibility into security flaws and risks.
ReportLinker explains that Infrastructure as Code (IaC) brings these new technologies together by allowing infrastructure to be managed and provisioned with the use of machine-readable definition files. This API-driven approach is critical in cloud-first environments because it allows for quick infrastructure changes while also making it easy to program in misconfigurations that make the environment vulnerable.
Why is the CSPM Market Growing?
One primary factor driving CSPM market growth centers on less visibility over IT infrastructure and growth in configuration errors, according to ReportLinker. In fact, the likelihood of misconfigurations has increased dramatically as cloud adoption has grown. Cloud security and posture management aid monitoring through automation, allowing security workers to resolve issues as soon as it is notified.
ReportLinker notes migration to the cloud as another key CSPM growth factor. Traditional businesses are under enormous competitive pressure because of technological improvements. As such, the cloud sector has gotten a huge boost because of increased agility and faster delivery of new apps and services.
As noted in this MSSP Alert article from April 2022, North America is the largest CSPM market, and was expected to remain so over the next five years. And the number of global players is expanding, including power entries such as VMware, Fujitsu, Palo Alto Networks, Cisco, Check Point and IBM.
The COVID-19 Factor
There was a huge increase in the number of people using internet for employment, education and leisure during the COVID-19 pandemic, according to ReportLinker. In addition, banking, finance, insurance, retail and government have seen large increases in user traffic on their websites and online portals.
The resulting significant increase in bandwidth demand, as well as an unexpected increase in the number of cyber-attacks like Ransomware, Distributed Denial of Service (DDoS) and other threats, trigger demand for CSPM tools.
What’s Holding Back the CSPM Market?
Most notably, there is a lack of experts to manage and secure CSPM solutions. ReportLinker points to organizations hiring security specialists who lack the necessary expertise to analyze and discover advanced security holes.
ReportLinker notes the Fortinet and Cyber-security Insiders 2021 Application Security Report found a shortage of experienced employees as the main barrier to securing cloud-based infrastructure for 46% of the companies it surveyed.