Workload-centric Security Solutions Eliminating Risks of Multi-cloud Environments during COVID-19 Crisis
The revenue of the cloud workload protection platform (CWPP) market is anticipated to skyrocket, since work-from-home policies and social distancing during the COVID-19 crisis has led to heavy traffic migration toward cloud tech. McAfee Corp. – the U.S. global computer security software company is increasing the availability of its CWPP compounded with unique protection requirements of workloads in modern enterprise environments.
Lucrative growth opportunities are influencing companies in the cloud workload protection platform (CWPP) market to evolve from Endpoint Protection Platforms (EPP) and focus on the protection of workloads regardless of the type or location. Software developers are integrating Cloud Security Posture Management (CSPM) solutions in platforms to meet demands of users. Workload-centric security solutions are eliminating the risks associated with multi-cloud environments.
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Centralized Platforms Help Improve Workload Behavior Monitoring, Consolidated Log Management
The cloud workload protection platform (CWPP) market is predicted to grow at an exponential CAGR of ~25% during the forecast period. However, it has been found that conventional platforms are creating a challenge for cloud-based applications where the workload may move through several different environments, all owned and protected by different vendors and technology. Hence, vendors in the cloud workload protection platform (CWPP) market are increasing their research to develop robust software that establishes a central platform for workload behavior monitoring and consolidated log management.
VMware, Inc. – the U.S. publicly traded software company from California is gaining recognition of its CWPP, which facilitates memory protection, up-to-date threat intelligence, and visibility to configure workloads.
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Multi-OS Capabilities, Compliance Management in CWPP Influence Buyer Decision
The cloud workload protection platform (CWPP) market is estimated to surpass the revenue of US$ 22 Bn by the end of 2030. Vulnerability scanning, compliance capabilities, and server-less protection capabilities are being highly preferred in CWPP. Divvy Cloud Corporation – a privately held, venture-backed U.S. cyber-security company is increasing awareness about multi-OS (operating system) capabilities, identity-based segmentation, and compliance management in CWPP, which influences a buyer’s decision. However, many platforms lack overall risk management services across all cloud deployments. Hence, vendors in the cloud workload protection platform (CWPP) market are interacting with users to troubleshoot limitations of CWPP. Host-based segmentation and system integrity monitoring are gaining importance in large-, mid-, and small-scale enterprises.
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Shift Left Trend Increases Participation of Developers, Engineers in Security Practices
The rapid adoption of public cloud has led to new security challenges. Hence, vendors in the cloud workload protection platform (CWPP) market are offering privately-owned platforms to offer better security perks to users. Software development is undergoing a significant change, since users are transitioning from on-premise servers to CWPP. Developers are enabling flexibility in CWPP but has also increased the pressure on developers and engineers who are now getting more involved in security practices.
The Shift Left trend is a fast growing phenomenon in the cloud workload protection platform market, which implies that security culture, processes, and tools should be adopted earlier in the software development cycle and not just at the end.
Robust CWPPs Help in Onboarding with Automated Deployments without Creating Policies
There is a growing demand for CWPP, which is feature-rich and can easily fit into the existing infrastructure with minimal disruption. Companies in the cloud workload protection platform (CWPP) market are developing tools that enable quick onboarding using automated deployments sans the need for creating policies or rules. They are innovating CWPPs that provide application control & visibility, thus giving the user the ability to see all running codes, systems, services, applications, OS, and executed commands in the cloud environment.
Vendors in the cloud workload protection platform (CWPP) market are innovating in platforms that are capable of detecting unauthorized and malicious codes. Robust CWPPs are able to indicate whether an environment is clean and whether it can be trusted in order to enforce good behavior.
Cloud Workload Protection Platform (CWPP) Market: Overview
- According to a latest research report on the global cloud workload protection platform (CWPP) market published by Transparency Market Research for the historical period of 2018–2019 and the forecast period of 2020–2030, rise in cyberattacks in the cloud environment is expected to fuel the demand for cloud workload protection platform (CWPP) during the forecast period. For instance, a recent Service Now survey (conducted by Ponemon) states that almost 70% of companies faced data breach issues in the public cloud in the past two years. Some of the common attacks were compromises (25%), data (29%), malware (34%), ransomware (28%), and cryptojacking (17%).
- Lack of device misconfigurations and firewall implementations were the most common cause of data breach issues on the public cloud model. Thus, cybercriminals obtain a chance to access confidential data over the Internet. This results in increasing demand for cloud workload protection platform (CWPP).
- Misconfigured web application firewalls were responsible for 44% of attacks, while cloud resource misconfigurations were responsible for 22% of attacks. Cloud workload safety systems provide the required security and strategy controls without comprising agility and speed. Many vendors provide cloud workload protection platform (CWPP) solutions with a wide range of capabilities, as not every cloud workload necessitates the same degree of security. Some cloud workloads contain less sensitive data and require less control due to the presence of firewalls, intrusion protection systems (IPS), and many others. From the statistics, it can be concluded that the rise in concern for data security is expected to drive the demand for cloud workload protection platform (CWPP) in the near future.
- The growing adoption of BYOD trends in developed economies results in increasing the demand for cloud solutions. This results in driving demand for cloud workload protection platform (CWPP).
- In terms of revenue, the global cloud workload protection platform (CWPP) market is estimated to exceed value of US$ 22 Bn by 2030, expanding at a CAGR of ~25% during the forecast period
Rising Data Law Privacy: A Key Driver of Cloud Workload Protection Platform (CWPP) Market
- Rising amount of unstructured data in organizations is a major factor that is projected to drive the cloud workload protection platform (CWPP) market in the near future
- Federal governments play a vital role in the implementation of cloud security. The Cloud Security Alliance is a set of cloud vendors that are affiliated to the FedRAMP program (federal government cloud framework). As per new Federal Government rules, all cloud protection technology has to be approved by FedRAMP, and other government agencies before the implementation of security solutions in the cloud.
- As per Cloud Security Report 2019, the major four public cloud vulnerabilities include 42% of unauthorized cloud access, 43% of insecure interfaces, 40% of misconfiguration of the cloud platform, and 39% of account hijacking. Thus, the growing data privacy laws are likely to propel the demand for cloud workload protection platform (CWPP) in the upcoming years.
- Companies store millions and trillions of sensitive records related to customers, employees, and stakeholders in the cloud. The cloud workload protection platform helps businesses to secure their sensitive data and helps in avoiding unauthorized access by external employees and other external parties. From this, it can be concluded that the growing amount of unstructured data is likely to drive the demand for cloud workload protection platform (CWPP) during the forecast period.
Hybrid Cloud Used in Cloud Workload Protection Platform (CWPP)
- A hybrid cloud is a computing service that combines private cloud services, on-premise infrastructure, and a public cloud, all connected to each other. Advantages of hybrid cloud technology, such as advanced security, scalability, and agility are driving a significant shift away from conventional DCO (data center outsourcing) to hybrid cloud infrastructure.
- The hybrid cloud segment is expected to account for a dominant share of the cloud workload protection platform (CWPP) market during forecast period. The rising movement of organizations to the hybrid cloud model is responsible for the expansion of the segment. Hybrid cloud offers numerous benefits such as flexibility, scalability, reliability, and security, which results in the growth of the market
- Hybrid cloud enables businesses to expand their technology and software as per the requirement of projects. One of the key benefits of hybrid cloud is that it enables businesses to manage their vast amount of data and multiple business operations in a hybrid environment. Thus, the growing adoption of hybrid cloud propels the demand for cloud workload protection platform (CWPP).
Cloud Workload Protection Platform (CWPP) Market: Key Developments
- Key providers of the cloud workload protection platform (CWPP) market such as Trend Micro and MacAfee LLC are focusing on the development of cloud workload protection platform (CWPP) solutions, which help them to gain a competitive position in the market. Moreover, players are also focusing on inorganic growth strategies such as strategic collaborations and merger & acquisition activities with technology partners, which result in expanding their solutions and enables them to remain competitive in the market.
- Some other key developments in the global cloud workload protection platform (CWPP) market are highlighted below:
- In December 2020, Trend Micro Inc. launched cloud-native solutions for application program interface and modern applications. This new solution provides the facility of code-level visibility and offers protection from the latest cyber threats. Therefore, this product launch is likely to increase the revenue of the company.
- In November 2020, Trend Micro Inc. introduced a cloud ready network security solution. This new solution recognizes malware at runtime. The product launch sustained the position of the company in the market.
- In the global cloud workload protection platform (CWPP) market report, we have discussed individual strategies, followed by company profiles of providers of cloud workload protection platform (CWPP) solutions. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global cloud workload protection platform (CWPP) market.
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