Cloud Security Posture Management (CSPM) Market Growth Forecast: MSSP Implications
The Cloud Security Posture Management (CSPM) Market is surging, expected to more than double from $4.2 billion in 2022 to $8.6 billion by 2027 at a CAGR (compound announce growth rate) of 15.3%, a new market assessment said.
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.
The segment is one of the fastest growing cybersecurity services and solutions offered by MSSPs with the services component’s growth expected to exceed that of the entire market, according to a report by MarketsandMarkets. In fact, more than 40 percent of MSSP Alert’s TOP 250 MSSP for 2021 survey participants offer CSPM to the end user customers.
Cloud Security Posture Management: Drivers for CSPM Market Growth
Why is the market growing so rapidly? Here are CSPM’s primary growth drivers, according to MarketsandMarkets:
- Low visibility across the IT infrastructure.
- Increase in configuration errors in cloud infrastructure.
- Absence of efficient security tools and processes to handle the cloud-based environments.
- Developing cloud security capabilities such as easy DevSecOps integration.
- Threat intelligence.
Here are some of CSPM’s primary inhibitors of growth:
- Lack of skilled expertise.
- Lack of awareness of cloud resources, cloud security architecture, and strategy.
MarketandMarkets segments the CSPM market into solutions and services. CSPM solutions provide the necessary cloud visibility to detect and prevent configuration errors before they cause a breach. Such is the expected growth of cloud-based services, particularly as it applies to MSSPs, that it is expected to grow at a higher CAGR than the overall segment through 2027, MarketsandMarkets said.
At this point, North America is the largest CSPM market and is expected to remain so through the forecast period. But the number of global players is expanding, including power entries such as VMware, Fujitsu, Palo Alto Networks, Cisco, Check Point and IBM. These players have adopted various growth strategies such as partnerships, agreements, collaboration, acquisitions and product developments to increase their market presence, MarketsandMarkets said.
On the enterprise front, MarketsandMarkets has identified VMware as holding a prominent position in the CSPM market space, partly due to its strong relationships with MSSPs and other solution providers. According to Markets and Markets, VMware is also set apart by its multi-cloud operations facility that helps reduce the risk of misconfiguration, prioritizes risk mitigation activities, detects threats in real-time, accelerates issue investigation, and unifies SecOps and DevOps.
Still, if you poke around the MSP-centric software market, you’ll see companies such as Sophos and others promoting multi-tenant CSPM tools for partners.