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CNAPP Market to Surge to $6 Billion by 2028 As Enterprises Play Catch-up on Cloud Security, According to Dell'Oro Group
Thursday, July 25, 2024
Top 3 CNAPP Vendors in 1Q 2024: Palo Alto Networks, Crowdstrike, and Wiz
REDWOOD CITY, Calif., July 17, 2024 /PRNewswire/ -- According to a recently published report from Dell'Oro Group, the trusted source for market information about the telecommunications, security, networks, and data center industries, the cloud-native application protection platform (CNAPP) market is poised for substantial growth, projected to rise from $2 B in 2023 to $6 B in 2028, representing a 25 percent compounded annual growth rate (CAGR). This surge is primarily driven by enterprises playing catch-up in securing their cloud deployments and the emergence of CNAPPs as the go-to solution for securing cloud workloads. CNAPP solutions provide comprehensive features that span the application lifecycle of development, deployment, and runtime.
"The rapid expansion of the CNAPP market underscores the critical need for robust security solutions as enterprises accelerate their cloud adoption," said Mauricio Sanchez, Sr. Director, Enterprise Security and Networking at Dell'Oro Group. "It's clear enterprises are recognizing the value of CNAPP solutions, and we see significant opportunities for vendors to innovate and capture market share," added Sanchez.
Additional highlights from the July 2024 Cloud Workload Security Advanced Research Report:
-- CNAPP revenue hit $2 B in 2023, representing an impressive 48 percent
rise.
-- On a quarterly basis, CNAPP revenue rose 40 percent in 1Q 2024,
surpassing $600 M. This marked the 17(th) consecutive quarter of revenue
growth exceeding 40 percent.
-- Palo Alto Networks maintained its leading revenue position with a 17
percent revenue share in 1Q 2024.
-- Wiz experienced the most substantial revenue growth among all vendors in
1Q 2024, achieving a remarkable 105 percent increase. It is the only
vendor to consistently achieve triple-digit revenue growth every quarter
since we began tracking in 1Q 2019.
About the Report
The Dell'Oro Group Cloud Workload Security Advanced Research Report offers a complete industry overview of the CNAPP market from 2019 onwards. The report includes the following quarterly data tables:
-- Manufacturers' CNAPP revenue by region - North America, EMEA (Europe,
Middle East, and Africa), Asia Pacific excluding China, China, and CALA
(Caribbean and Latin America).
-- CNAPP revenue by development, deployment, and runtime technologies.
The report includes the following annual data tables:
-- CNAPP five-year revenue forecast by region.
-- CNAPP five-year revenue forecast by development, deployment, and runtime
technologies.
To purchase this report, please contact us at dgsales@delloro.com.
About Dell'Oro Group
Dell'Oro Group is a market research firm that specializes in strategic competitive analysis in the telecommunications, security, enterprise networks, and data center markets. Our firm provides in-depth quantitative data and qualitative analysis to facilitate critical, fact-based business decisions. For more information, contact Dell'Oro Group at +1.650.622.9400 or visit https://www.delloro.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/cnapp-market-to-surge-to-6-billion-by-2028-as-enterprises-play-catch-up-on-cloud-security-according-to-delloro-group-302192526.html
SOURCE Dell'Oro Group
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