Dublin, Jan. 20, 2023 (GLOBE NEWSWIRE) -- The "Global Cloud-native Application Protection Platform (CNAPP) Market by Offering (Platform, Professional Services), Cloud Type (Public Cloud, Hybrid Cloud), Organization Size, Vertical (BFSI, Healthcare, IT, ITeS) and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global CNAPP market is projected to grow from an estimated USD 7.8 billion in 2022 to USD 19.3 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 19.9% from 2022 to 2027.
Some of the factors driving the market growth, include growing cyber threats being reported and increasing adoption of work from home option by SMEs. However, limited skilled expertise to implement and maintain CNAPP and the need to adhere to changing regulations is expected to hinder the market growth.
Large enterprises to hold larger market size during the forecast period
According to the Organization for Economic Co-operation and Development, large enterprises employ more than 250 people. Large enterprises are early adopters of CNAPP and the associated professional services. Large enterprises have increasingly started using cloud-based systems over traditional on-premises solutions.
These enterprises have several departments performing different operations, which makes it difficult for the organization to handle the security posture of the whole organization. Additionally, large enterprises are at greater risk with the onset of the pandemic and the adoption of the Work from Home (WFH) trend. Large enterprises deploy cloud-based solutions due to high flexibility, scalability, and low maintenance costs.
As businesses store information and data in the cloud, the requirement for security solutions is also increasing. The increasing cyber threats reported by large organizations are expected to drive the deployment of CNAPP solutions and services among large enterprises. For instance, in the CNAPP market, CrowdStrike provides CrowdStrike Cloud Security. It allows breach prevention, workload protection, and cloud security posture management. It helps gain unified visibility across the entire cloud, monitor and address misconfigurations, advance identity security, and enforce security policies and compliance to stop cloud breaches. It allows automated discovery, continuous runtime protection, EDR for cloud workloads and containers, and managed threat hunting.
IT & ITeS segment to grow at the highest CAGR during forecast period
With a surge in the adoption of BYOD and work-from-home trends, IT companies are rapidly prioritizing using CNAPP and its associated services. Cloud misconfiguration-related data breaches, such as object storage breaches, unauthorized traffic to a virtual server instance, unauthorized access to database services, and unauthorized user logins, are rising. Public cloud security deployments are the first choice for businesses with low privacy concerns.
However, with the need to enhance scalability and flexibility, hybrid cloud deployments are gaining popularity among IT firms as they can balance their workloads by leveraging the benefits of both public and private clouds. Such instances have increased IT organizations' need for hybrid cloud and multi-cloud solutions. The rising instances of cloud-based cyberattacks and cloud-native threats urge IT enterprises to adopt CNAPP and professional services. The IT sector is witnessing a huge technological development. Increasing demand for high-speed connectivity and faster protocols for data transfer are a few of the significant changes the sector is currently undergoing.
Asia-Pacific to grow at the highest CAGR during the forecast period
Asia-Pacific experiences considerable security spending owing to the ever-growing threat landscape of the region. The countries in the Asia-Pacific region are home to many SMEs. According to the Asia-Pacific Economic Cooperation, SMEs are the engines of growth in the Asia-Pacific region. They account for over 87 percent of all businesses and employ over half of the workforce in the region.
They contribute significantly to economic growth, with their share of GDP ranging from 40 percent to 60 percent in most economies. SMEs are increasingly adopting cloud computing to increase their operational efficiency. During the pandemic, cloud technology has supported global supply chains and remote working. It assists organizations in the region, enabling scalability, business continuity, and reduced costs.
Market Dynamics
Drivers
- Increase in Cyber Threats
- Adoption of BYOD and Remote Work Options Among SMEs
Restraints
- Limited Skilled Expertise to Implement and Maintain CNAPP
- Adhering to Changing Regulations
Opportunities
- Rise in Initiatives in Cloud Infrastructure Projects by Government
- Increase in Use of Cloud-based Solutions
Challenges
- Complexities in Use of CNAPP Solutions
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Cloud-Native Application Protection Platform Market, by Offering
6.1 Introduction
6.2 Platform
6.3 Professional Services
7 Cloud-Native Application Protection Platform Market, by Cloud Type
7.1 Introduction
7.2 Public Cloud
7.3 Hybrid Cloud
8 Cloud-Native Application Protection Platform Market, by Organization Size
8.1 Introduction
8.2 Large Enterprises
8.3 Small and Medium-Sized Enterprises
9 Cloud-Native Application Protection Platform Market, by Vertical
9.1 Introduction
9.2 Banking, Financial Services, and Insurance
9.3 Healthcare
9.4 Retail and Ecommerce
9.5 Telecommunication
9.6 IT and ITeS
9.7 Other Verticals
10 Cloud-Native Application Protection Platform Market, by Region
11 Competitive Landscape
12 Company Profiles
13 Appendix
Companies Mentioned
- Accuknox
- Aqua Security
- Banyan Cloud
- Caveonix
- Cequence Security
- Check Point
- Crowdstrike
- Data Theorem
- Ermetic
- Forcepoint
- Fortinet
- Illumio
- Metasecure
- Orca Security
- Palo Alto Networks
- Proofpoint
- Radware
- Runecast
- Skyhigh Security
- Sophos
- Tigera
- Trend Micro
- Wiz.io
- Zscaler
For more information about this report visit https://www.researchandmarkets.com/r/cdybsi
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