Recent trends in cloud security

Data from Check Point’s cloud security report 2022 states that nearly 27% of organizations have experienced data breaches and security incidents in their public cloud infrastructure within a year. Here, majority of the security incidents were caused due to misconfigurations in the cloud infrastructure. Another data provided by Verizon in its data breach investigations report, 2021 stated that servers are the primary targets for data breaches due to security misconfiguration and lack of compliance measures. These statistics clearly state that though migration to the cloud, especially in COVID-19, was a necessary move for companies, but it is also essential to keep the security of cloud applications and infrastructure in check.

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Evolution and need for CNAPP

CISOs and CIOs are dealing with various security challenges across the development and operational life cycle. As a security infrastructure, organizations are implementing various security tools to fill the security gaps in their cloud and on-premises applications. Some tools take a “shift left” security approach by focusing on developers and DevSecOps, while others address runtime aspects like infrastructure and configurations. Cloud security posture management (CSPM), cloud workload protection platform (CWPP), IaC security, and cloud network security are some of the popular cloud security tools that cater to specific security mishaps. These individual point solutions are focused on a limited set of security issues, but they don’t integrate well together when it comes to correlating their signals, leading to challenges around prioritizing many low-priority alerts. For such issues, vendors are now coming up with solutions to fill the security gaps from a single platform, cloud-native application protection platform (CNAPP).

CNAPP combines multiple security and compliance capabilities into one platform. CNAPP solutions aim to address workload and configuration security by scanning them in the development and protecting them at runtime. It serves as a convergence of multiple technologies, combining the capabilities of existing cloud security solutions, primarily CSPM and CWPP, and also including elements of Cloud Infrastructure Entitlement Management (CIEM), Kubernetes Security Posture Management (KSPM), API discovery and protection, serverless security, and more.

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Market insights

Major cloud security vendors such as Check Point Software, Palo Alto Networks, Fortinet, Forcepoint, Crowdstrike, and Aqua Security are coming up with CNAPP solutions to drive the growth of the market. Check Point offers CloudGuard CNAPP product that covers security capabilities such as posture control, workload protection, API security, pipeline security, and Cloud Infrastructure and Entitlement Management. Palo Alto Networks also delivers CNAPP capabilities under its Prisma Cloud offering.

The multi-billion opportunity is attracting lots of investments from large, medium, and small organizations globally. According to a report, venture capitalists funded 62 new companies with USD 1.34B during 2019-2020. With this level of investment from existing companies and innovations from newly funded venture-based startups, CNAPP will be at the center of cloud and application security for the next 5-10 years.

As per MarketsandMarkets (MnM) analysis, the global CNAPP market that combines the market of CSPM, CWPP, and IaC Security is estimated to have a market value of USD 6 billion in 2021 and is projected to reach USD 19 billion by 2027, growing at a CAGR of 19.9% during 2022-2027. The demand for CNAPP solutions, as well as associated services, is expected to increase among organizations, irrespective of their size. Large enterprises increasingly adopt CNAPP solutions to improve the security posture of the organizations. CNAPP makes monitoring, detecting, and acting on potential security threats and vulnerabilities easier. It consolidates several capabilities that help address the security challenges of cloud-native applications. SMEs are moving toward adopting CNAPP to provide protection to their organizations from vulnerabilities and attacks. Attackers are targeting cloud applications of SMEs to penetrate and access confidential and sensitive data. SMEs become an easy target due to budget constraints and limited resources. Moreover, organizations need to comply with several regulations related to the cloud. To help organizations fight against various cyberthreats and challenges, and be compliant with regulations, CNAPP providers deliver innovative solutions to secure businesses from cyber threats and attacks.

Recession impact

The COVID-19 pandemic, global conflict, increasing inflation rate, and tightening monetary policies will result into a slowdown of economic growth in 2023. Recession is expected to have a severe impact on industries such as retail, restaurants, travel/tourism, leisure/hospitality, service purveyors, real estate, manufacturing, and others. However, industries like healthcare, food, and transportation are likely to have a low impact as these are more resistant to the economic effects of a downturn than others.

During recession, not every business is affected in the same way, but all will feel the impact somehow. Cuts in spending usually target IT departments in the form of reduced budgets, employee layoffs, and a de-prioritization of cybersecurity as a whole. These are vulnerable times where cybercriminals become more active as they know that businesses tend to cut spending and scale down operations, and hackers use this as an opportunity to strike. In such a scenario, cloud computing, security software, and digital transformation will continue to be top priorities for CIOs, which makes cybersecurity a less impacted industry.

Cybersecurity spending is also expected to have a less impact of recession due to regulations and market forces. According to a study by Gartner, the industry’s spending for cloud security is expected to grow the fastest in 2023, up by 26%, followed by spending for applications security (up 25%), data privacy (up 17%), infrastructure protection (up 16%), identity access management (15%), and data security (14%) globally. Along with the need for many businesses to meet regulatory and compliance standards around security and data privacy, many cyber insurance policies necessitate some level of spending on cybersecurity. Companies that cut back too much on security spending might see a negative impact on revenue as it could discourage potential customers from doing business.

Over time, businesses have accumulated an extensive array of security tools, including substantial investments in detection and response capabilities. To handle and monitor security logs and vulnerabilities on a daily basis requires a set of skilled expertise. During recession, to cut down the spending, employee lay-offs is one of the crucial step that companies take. Cutting down the cybersecurity skills is something is not expected in the recession period as the cybersecurity market has a huge concern over the lack of skilled expertise that is required to handle the increasing cyber incidents.

Cloud computing, cloud security, and digital transformation are expected to be the top priorities for CISOs during the recession period. Investments in cloud applications and its security brings significant advantages to businesses. Cloud-native solutions have become a critical way for companies to add flexibility to their business. The global pandemic allowed companies to seamlessly shift to remote work. When faced with challenging macro conditions, like a potential recession, cloud native allows businesses to drive value with minimal overhead, but it also allows for flexibility in subscriptions. Due to the increasing spending on cloud security and continuous migration of organization’s data on the cloud, it is expected that recession would have a minimal impact on cloud security and related components markets that majorly include CSPM, CWPP, IaC security, cloud network security, and CNAPP.

CNAPP is the future of cloud security that would have the capabilities to cater to multi-billion markets such as application security testing, CWPP, and CSPM. In addition to that, CNAPP is expected to integrate CIEM capabilities to secure the system access in the coming future.

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