In 2023, the market for Cloud-Native Application Protection Platform was USD 9,460.8 million and is expected to reach USD 33,723.4 million by 2030 at a compound annual growth rate of 20.0%.
The use of cloud servers, coupled with an increasing number of cyberattacks in various sectors, is largely too accountable for this development.
The platform category, based on offering, leads the industry. This can be because of the rising need for comprehensive native systems working in various applications to streamline detecting, acting, or monitoring for cloud workloads and environments; monitor for exposures; and quicken risk hunting.
Applications to reduce response times, assist DevSecOPS crews, enhance the main security problems, allow risk hunting and address runtime threats are a further helping hand in increasing demand for CNAPP.
The public category, based on cloud type, will dominate the industry during this decade. This is attributed to its low price because there is no necessity to buy any software or hardware. The hardware, servers, software, or other associated infrastructure are possessed by third-party providers and directed by the essential authority.
Moreover, this type is frequently employed for web-based applications, email, testing, and storage; development environments, and online offices.
In 2023, the BFSI category, based on vertical, was the largest contributor to the CNAPP market, with a share of 35%, and it will remain the largest throughout this decade. This can be attributed to the fact that cloud computing, coupled with its native models as well as architecture infuse the agility of BFSI business.
Furthermore, cloud computing enables innovation, decreases prices for enterprises, and offers a competitive advantage, and it is an important part of the digital uprising, changing the BFSI sector.
The large enterprises category, based on enterprise size, leads the industry in 2023. The occurrence of cyber fraud as well as data theft post-pandemic has augmented. This has resulted in the surging acceptance of CNAPP by these enterprises to improve safety procedures and battle future threats or attacks.
North America was the largest contributor to the industry, with USD 5.2 billion in 2023, and it will propel at a high rate in the years to come. This can be because of the existence of key companies and stringent rules as well as the mounting inventions in this field.
Whereas, APAC is likely to have a decent share of the industry in the years to come. This will be mainly because of the presence of nations such as India, China, South Korea, and Japan, which are the major technology innovators.
It is because of the surging count of cyberattacks across different sectors, the CNAPP industry will continue to progress in the years to come.
