Cloud Native Application Protection Platform Market size to exceed $30 Bn by 2032

Cloud Native Application Protection Platform (CNAPP) Market size is anticipated to reach USD 30 billion by 2032, according to a new research report by Global Market Insights Inc.
 

BYOD solutions have gained popularity as more and more businesses encourage remote work, flexible scheduling, and mobile connectivity for employees on trips or commute to work.  Nevertheless, connecting a personal device to a company's network creates significant security risks. According to a January 2022 World Economic Forum (WEF) research, cybersecurity concerns are among the top hazards impacting the globe, as ransomware and nation-state cyberattacks rise, and organizations become increasingly reliant on technology. The growing number of companies focusing on network and end-user device security, coupled with massive investments in data security solutions and services, is expected to drive the demand for CNAPPs between 2023 and 2032.
 

Flexibility and cost-effectiveness to stimulate services segment growth

As per components, the CNAPP market from services segment held around 25% revenue share in 2022. Cloud-native software development services have become extremely crucial to modern enterprises who rely significantly on security applications to differentiate their product and service offerings. CNAPP service providers offer complete assistance to organizations to design, build, and deploy cloud-native apps that allow them to produce real business value and achieve a competitive advantage. They also offer enhanced scalability, flexibility, and cost-effectiveness, which is likely to contribute to the CNAPP services market growth.
 

Benefits for cybersecurity management to impel professional services demand

Under services, the cloud native application protection platform market from professional services segment was worth over USD 250 million revenue in 2022. Professional CNAPP service providers help partners with industry-leading assistance while boosting overall organizational performance, assisting companies in adopting optimal practices, and offering advice on how to safeguard their cloud-native apps. Some companies have a team of professionals with unique skills and experience in cloud security who use these services to ensure that their cloud-native apps are safe against attacks and vulnerabilities. The benefits associated with the usage of professional services are estimated to encourage segment development.
 

Growing shift away from data centers to favor the hybrid cloud segment

The CNAPP market share from the hybrid cloud segment is set to witness 30% CAGR from 2023 to 2032. As enterprises adopt the cloud-first approach, the digital shift from data centers to hybrid multi-cloud systems presents multiple cybersecurity, compliance, and governance concerns. In addition, as more telecommunications firms collaborate with service providers to build hybrid work environments, automation for greater collaboration, and flexible working, the demand for cybersecurity solutions has grown. Furthermore, the increased frequency of cloud-based cyberattacks has made it essential for IT organizations to implement robust network and application protection platforms.
 

Browse key industry insights spread across 250 pages with 223 market data tables and 29 figures & charts from the report, “Cloud Native Application Protection Platform (CNAPP) Market Size By Component (Solution [Identity-Based Security and Cloud Infrastructure Entitlement Management (CIEM), Cloud Workload Protection Platform (CWPP), Infrastructure as a code (IAC), Kubernet Security Posture Management (KSPM), Cloud Security Posture Management (CSPM)], Services [Professional Services, Managed Services), By Cloud (Hybrid Cloud, Multi-Cloud), By Organization Size (Large enterprises, SMEs), By Application (Retail, BFSI, Healthcare, Government, IT & Telecom, Manufacturing, Others], COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/cloud-native-application-protection-platform-market
 

Inadequacy of cybersecurity resources to boost the market demand across SMEs

In terms of organization size, SMEs segment accounted for 20% share in the cloud native application protection platform market revenue in 2022. With limited resources for cybersecurity, small and medium-sized businesses (SMBs) are particularly exposed to cyber-attacks. As a result, a number of initiatives to help them transition toward cloud services securely are projected to offer potential development prospects to industry players through 2032. For instance, in June 2022, Redington India Ltd, a leading IT Technology provider signed a multi-year partnership with Amazon Internet Services Private Limited to conduct the resale and marketing of Amazon Web Services Cloud in India and promote the adoption of AWS Cloud by SMBs.
 

Rapid migration to cloud infrastructure to propel BFSI segment share

Based on application, the BFSI segment will cross USD 5 billion by 2032. Banks and financial institutions are rapidly transitioning to cloud services to keep up with rising transaction volumes, consumer expectations, and competitive threats. Recently, in September 2022, Lacework, the data-driven cloud security company, partnered with Avenue Bank, an Australian digital business bank focused on next-generation cash flow solutions for small and medium-sized enterprises, to assist the bank in building its system securely in the cloud. Furthermore, the COVID-19 pandemic accelerated the migration toward cloud among BFSIs, which is foreseen to positively influence the industry scenario.
 

Favorable government policies focusing on improving cybersecurity to complement Europe industry share

The Europe cloud native application protection platform market is set to surpass USD 10 billion by 2032, attributed to the growing support from government organizations for enhanced security and substantial investments in smart technologies. To cite an instance, in March 2022, the EU Commission proposed an Information Security Regulation to establish a minimum set of security guidelines to strengthen and standardize how EU public entities defend themselves against increasing cyber threats. Furthermore, geopolitical conditions, notably the Russia-Ukraine conflict, are fostering alarming cyber activities, cyber warfare, hacktivism, and malicious cyberattacks in European countries.
 

New technological upgrades by leading companies to define the industry outlook

Key participants operating in cloud native application protection platform market are Palo Alto Networks, Crowdstrike, Fortinet, Checkpoint, Emertic, Wiz and Aqua security. These businesses that specialize in cybersecurity solutions are emphasizing product innovation to integrate the latest cyber security capabilities into their products to reduce the risk of new cyber threats.
 

In a recent instance, in January 2023, Check Point Software Technologies Ltd., a market-leading provider of cybersecurity solutions, upgraded its Check Point CloudGuard CNAPP with a new risk-management engine, agentless scanning, entitlement management, smart risk prioritization, and pipeline security.