Cloud Native Application Protection Platform Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The cloud-native application protection platform market size has grown rapidly in recent years. It will grow from $9.11 billion in 2023 to $10.89 billion in 2024 at a compound annual growth rate (CAGR) of 19.6%. The growth in the historic period can be attributed to rise of cloud-native technologies, containerization boom, Kubernetes orchestration, shift to DevOps and DevSecOps, cybersecurity threat landscape, and zero trust security model adoption.
The cloud-native application protection platform market size is expected to see rapid growth in the next few years. It will grow to $21.83 billion in 2028 at a compound annual growth rate (CAGR) of 19.0%. The growth in the forecast period can be attributed to continued adoption of cloud-native technologies, increasing security threats and cyberattacks, emphasis on zero trust security model, and hybrid and multi-cloud environments. Major trends in the forecast period include rapid innovation and evolution, focus on hybrid and multi-cloud environments, enhanced container security, integration with DevSecOps practices, zero trust architecture, and compliance automation.
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Scope Of Cloud Native Application Protection Platform Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Cloud Native Application Protection Platform Market Overview
Market Drivers –
The increasing instances of cloud-based cyberattacks and security breaches are expected to propel the growth of the cloud-native application platform market going forward. Cloud-based cyber-attacks and security breaches refer to malicious activities and unauthorized access incidents that target cloud computing environments, platforms, services, or data. Cloud-based cyber-attacks and security breaches are on the rise due to the increasing adoption of cloud computing services by businesses of all sizes, which has expanded the attack surface, providing cybercriminals with more targets to exploit. Cloud-native application platforms often integrate built-in security features and best practices, such as encryption, access controls, and authentication mechanisms. By leveraging these built-in security capabilities, organizations can ensure that their cloud-native applications are protected against common security threats from the outset. For instance, in November 2022, according to the Australian Cyber Security Centre, an Australia-based cyber security agency, cybercrime reports reached 76,000 in 2022, up from 13% in the year prior. Therefore, the increasing instances of cloud-based cyber-attacks and security breaches are driving the growth of the cloud-native application platform market going forward.
Market Trends –
Major companies operating in the cloud-native application protection platform market are focused on developing innovative technological products, such as Adversary-Focused CNAPP Capabilities, to increase their profitability in the market. Adversary-focused CNAPP capabilities are employed to safeguard cloud apps against advanced attacks. For instance, in April 2022, CrowdStrike Holdings Inc., a US-based software company, announced the launch of Adversary-Focused CNAPP Capabilities. These features are intended to handle the dynamic nature of the security environment, wherein adversaries take advantage of openings in an ever-expanding attack surface. Organizations can enhance their cloud environment defenses by comprehending and reducing the threats presented by contemporary attack methods by implementing an adversary-focused approach. This method uses deep visibility, automation, proactive security measures, and ongoing monitoring to stop, identify, and address possible threats and weaknesses.
The cloud native application protection platform market covered in this report is segmented –
1) By Cloud Type: Public, Hybrid
2) By Offering : Platform, Professional Services
3) By Vertical : Banking, Financial Services and Insurance (BFSI), Healthcare, Retail and eCommerce, Telecommunication , Information Technology and Information Technology Enabled Services, Other Verticals
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Regional Insights –
North America was the largest region in the cloud-native application protection platform market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud native application protection platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the cloud native application protection platform market are Google LLC, Microsoft Corporation, Amazon Web Services Inc., The International Business Machines Corporation, Cisco Systems Inc., Palo Alto Networks Inc., Juniper Networks Inc., Fortinet Inc., Akamai Technologies, F5 Inc., Check Point Software Technologies, Trend Micro, CrowdStrike, Cloudflare Inc., Rapid7, Imperva Inc., Prisma Cloud, Barracuda Networks, Qualys, HashiCorp, Trend Micro Cloud One, Aqua Security, Alert Logic, NeuVector, Lacework, Twistlock, Sysdig, CloudVector, Armor, StackRox
Table of Contents
- Executive Summary
- Cloud Native Application Protection Platform Market Report Structure
- Cloud Native Application Protection Platform Market Trends And Strategies
- Cloud Native Application Protection Platform Market – Macro Economic Scenario
- Cloud Native Application Protection Platform Market Size And Growth
…..
- Cloud Native Application Protection Platform Market Competitor Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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