Global Cloud Native Application Protection Platform Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope

A cloud-native application protection platform (CNAPP) is a specialized cybersecurity solution to secure cloud-native applications. These platforms are tailored to address the unique security challenges posed by applications built for cloud environments, which often utilize microservices architecture, containerization, and orchestration tools.

Sizing and Forecast
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.

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Segmentation & Regional Insights
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

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.

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Major Driver Impacting Market Growth
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.

Key Industry Players
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

The cloud native application protection platform market report table of contents includes:
1. Executive Summary

2. Cloud Native Application Protection Platform Market Characteristics

3. Cloud Native Application Protection Platform Market Trends And Strategies

4. Cloud Native Application Protection Platform Market - Macro Economic Scenario

5. Global Cloud Native Application Protection Platform Market Size and Growth

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32. Global Cloud Native Application Protection Platform Market Competitive Benchmarking

33. Global Cloud Native Application Protection Platform Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Cloud Native Application Protection Platform Market

35. Cloud Native Application Protection Platform Market Future Outlook and Potential Analysis

36. Appendix

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