target audience: TECH SUPPLIER Publication date: Aug 2024 - Document type: Market Share - Doc Document number: # US52472324
Worldwide Cloud-Native Application Protection Platform Market Shares, 2023: A Bull Market
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Abstract
This IDC study details the market share results for the worldwide cloud-native application protection platform (CNAPP) market in 2023. The market grew 31.5% in 2023, with its growth rate being compared with restated 2022 revenue. Nevertheless, this growth exceeded the forecast and certainly demonstrates the resilience of the CNAPP market. The rank order of the top 4 vendors saw some change as Microsoft, Palo Alto Networks, and CrowdStrike continue to battle Trend Micro for the top spot.
"CNAPP is becoming essential for securing organizations. Organizations realize that cloud risk is business risk. IDC research shows that IT spending on security, risk, and compliance is the most resilient to downward trends or cutbacks," said Philip Bues, senior research manager, Cloud Security, IDC. "The CNAPP market made impressive gains in 2023, but the top vendors didn't change much. Still, it's a super competitive space with companies fighting hard for market share and revenue. With GenAI being a hot topic for IT buyers, we expect it to be a big area for CNAPP integration, innovation, and competition in 2024 and beyond."