CLOUD SECURITY SOFTWARE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In February 2024, Qualys expanded its Cloud Native Application Protection Platform (CNAPP) to cover Software as a Service (SaaS) applications, providing unified visibility and security across multi-cloud environments.
• In July 2024, Google entered advanced discussions to acquire cloud security company Wiz for up to USD 23 billion. This potential acquisition would bolster Google's cloud security offerings and enhance its competitive position.
• In September 2023, Gigamon introduced Precryption™, a technology providing plaintext visibility into encrypted communications across cloud, virtual, or container workloads. This innovation aims to enhance threat detection and response capabilities.
• In July 2023, IBM sold its cloud-based QRadar cybersecurity software to Palo Alto Networks as part of a broader strategy shift. This move aimed to eliminate product overlap and foster mutual growth between the companies.