Growing Efforts to Prioritize Cloud Security Vulnerabilities Drive Market Growth
The global cloud-native application protection platform market is likely to garner significant traction. The growing demand for CNAPP solutions from organizations of all sizes would drive market growth. According to Market Research Future (MRFR), the global cloud-native application protection platform market size is poised to escalate from USD 5.60 BN in 2022 to USD 39.9 BN by 2032, growing at a 21.7% CAGR throughout the review period (2023-2032).
Companies are increasingly moving their business-critical applications and workloads to the cloud to increase employee flexibility and reduce IT costs. This, as a result, raises concerns about security and visibility that can risk organizational security. In such a scenario, the cloud-native application protection platform (CNAPP) helps strike the right balance and support access while protecting critical data.
Data breaches and security concerns are hampering businesses with the insecurity of applications and workloads stored on the cloud. As a result, organizations seek innovative security solutions that can help them secure their cloud infrastructure and applications without compromising the speed and agility of their applications. They also look for solutions to protect cloud workloads, enhance visibility, streamline procurement, and simplify deployments.
Leading cloud-native application protection platform market players are,
· Check Point Software Technologies
· Palo Alto Networks
· Fortinet
· Cloudflare
· Trend Micro Incorporated
· Akamai Technologies
· F5 Networks
· Imperva
· Barracuda Networks
· Radware
· Zscaler
· Qualys Inc.
· Proofpoint
· Gen Digital Inc.
· CrowdStrike
· McAfee
· Sophos
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Segments
The cloud-native application protection platform market is segmented into components, organization size, industry verticals, and regions. The component segment is sub-segmented into solutions and services. The organization size segment is sub-segmented into SMEs and large enterprises. The industry vertical segment is bifurcated into BFSI, retail, healthcare, IT & telecom, government, manufacturing, and others. By regions, the CNAPP market is segmented into the Asia-Pacific, North America, Europe, and the rest of the world.
Regional Analysis
North America dominates the global cloud-native application protection platform market. The vast adoption of cloud and cloud-based solutions for application protection in organizations of all sizes boosts the market size. Besides, the widespread awareness about the benefits of cloud-native security solutions in protecting organizational data substantiates the region's CNAPP market share.
The uptake of cloud-first approaches among several organizations to improve the performance of cloud-based solutions for application infrastructure increases the market size. Additionally, the presence of numerous large industry players and their platforms, such as Microsoft Azure, AWS, Google Cloud, and IBM Cloud, influence the CNAPP market growth.
The Asia-Pacific region is a significantly growing market for cloud-native application protection solutions. The vendors in this region provide a wide range of security technologies and services that businesses may use to safeguard their apps. Besides, several organizations undergoing digital transformation are moving their applications and workloads to the cloud, which drives the CNAPP market growth.
The region offers a favorable platform for cloud-native application protection solutions. Industries in this region are facing major cyber hazards. Large developments of strong security solutions for their cloud-native applications to address these risks positively impact the CNAPP market growth. Also, the increasing demand and adoption of cloud-enabled security infrastructure create significant opportunities for the market.
The cloud-native application protection platform market in the European region is growing rapidly. Vast technological advancements and the proliferation of AI & intelligent connected devices in the region positively impact the cloud-native application protection platform market growth.
Furthermore, the well-established cloud-native infrastructure in this region propels market revenues, allowing faster implementation of advanced technologies. Rising cyber-attacks in the rapidly growing automotive and IT industry in this region escalate the cloud-native application protection platform market value.
Industry Trends
Organizations are increasingly embracing cloud-first approaches, digital transformation, and innovative solutions to boost automation and remain competitive. They utilize digital technologies and cloud computing solutions, which creates significant demand for cloud-native application protection platforms. The proliferation of cloud-based technologies drives the cloud-native application protection platform market, enabling new, complex business models and orchestrating more globally-based integration networks.
Additionally, the vast penetration of AI, cloud infrastructure, and critical cloud applications boost the cloud-native application protection platform market size. Also, organizations looking to overcome compliances and maintain strong compliance requirements substantiate the cloud-native application protection platform market shares. Various cloud-native application protection platform solutions, including application protection, cloud applications, analytics & reporting, and threat protection, foster the growth of the cloud-native application protection platform market.
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Competitive Analysis
Fiercely competitive, the cloud-native application protection platform market appears fragmented with the strong presence of major market players. These players invest substantially to transform the future business landscape. Key players initiate strategic approaches such as partnerships, collaborations, acquisitions, product & technology launches, and expansions to gain a larger competitive share and maintain their market positions.
Growing companies are developing advanced security and data protection solutions to stay ahead in the market competition. They make huge R&D investments to innovate new cloud-native security solutions. They also invest heavily to acquire small yet promising companies from emerging regions to support their expansion strategies.
For instance, on Sep. 19, 2023, CrowdStrike Holdings, Inc. (the US), a cybersecurity technology company, announced the acquisition of Bionic to boost cloud-native app security. CrowdStrike will incorporate Bionic's cloud-native application protection platform (CNAPP) capabilities. The acquisition will position CrowdStrike as the first security vendor providing comprehensive code-to-runtime cloud security from one unified platform.
Bionic offers emerging technology for application security posture management. CrowdStrike has been planning to deepen its capabilities in security for cloud-native applications. The acquisition will provide the cybersecurity giant's CNAPP with the ability to offer comprehensive risk visibility and protection across the cloud infrastructure, including applications and services running.
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