According to the report published by Allied Market Research “Securing the Cloud: The Importance of Cloud Security Posture Management (CSPM).” These players have adopted different strategies such as new product launches collaborations expansion joint ventures agreements and others to increase their market share and maintain dominant shares in different regions.
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. The 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.
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The cloud security posture management market analysis is segmented on the basis of offering, cloud service model, enterprise size, industry vertical, and region. On the basis of offering, the market is segmented into solution and service. Depending on service, the market is segmented into professional services and managed services. Furthermore, based on professional services, it is segmented into consulting, implementation & integration, and support & maintenance. Based on cloud service model, the market is segmented into Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS) and Software-as-a-Service (SaaS). According to enterprise size, it is fragmented into large enterprises and SMEs. Depending on industry vertical, the market is segregated into BFSI, government & defense, retail & e-commerce, healthcare, IT & telecom, energy & utilities, manufacturing, education and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Based on enterprise size, the large enterprises segment held the dominating market share in 2021, holding nearly three-fourths of the global market, and is expected to maintain its leadership status during the forecast period. The SMEs segment, on the other hand, is expected to cite the fastest CAGR of 16.2% 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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