Published Date: 20-Jan-2023
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According to a new report, published by KBV research, The Global Cloud-native Application Protection Platform (CNAPP) Market size is expected to reach $21.2 billion by 2028, rising at a market growth of 18.6% CAGR during the forecast period.
The Professional Services market would witness a CAGR of 19.7% during (2022 - 2028). The services include deployment, consulting, maintenance, and managed services (as-a-service). Services aim to educate and create expertise, deliver timely solution upgrades, and support clients in combining them with other information technology (IT) solutions. With the growing usage of CSPM systems, the demand for assistance services is also projected to rise.
The Public market is leading the Global Cloud-native Cloud Type Protection Platform (CNAPP) Market by Cloud Type in 2021; thereby, achieving a market value of $15.3 billion by 2028. However, like the private sector, government facilities such as the core finance, procurement, and HR systems that support work-from-home grants and the furlough plan might benefit from cloud-based hosting choices for enterprise resource planning (ERP) systems like Oracle E-Business Suite. Thus, the need for security solutions is rising.
The SMEs market would showcase a CAGR of 20.6% during (2022 - 2028). The best feature of CSPM solutions is that it is cost-efficient and most small and medium-sized firm are increasingly adopting cloud security posture management. The cloud security posture management system is easy to be implemented by small and medium enterprises. Thus, the rising adoption of CSPM Systems is propelling the demand of Cloud-native application protection platforms.
The BFSI market acquired maximum revenue share in Global Cloud-native Cloud Type Protection Platform (CNAPP) Market by Vertical in 2021; thereby, achieving a market value of $5.3 billion by 2028. Due to increased convenience and lower maintenance costs, financial institutions are increasingly using cloud-based solutions. Increased flexibility is provided by cloud deployment. Utilizing cloud-based solutions results in lower overall costs since they are less expensive to install and maintain than their on-premises equivalents. Organizations have been further encouraged by the pandemic to move their data storage to the cloud.
The North America market dominated the Global Cloud-native Cloud Type Protection Platform (CNAPP) Market by Region in 2021; thereby, achieving a market value of $8.0 billion by 2028. The Europe market is expected to witness a CAGR of 17.9% during (2022 - 2028). Additionally, The Asia Pacific market is expected to witness a CAGR of 19.7% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Trend Micro, Inc., Check Point Software Technologies Ltd., Palo Alto Networks, Inc., Crowdstrike Holdings, Inc., Fortinet, Inc., Forcepoint LLC (Francisco Partners), Aqua Security Software Ltd., Radware Ltd., Zscaler, Inc., Sophos Group PLC (Thoma Bravo)
By Cloud Type
By Organization Size
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