We’re thankful and proud to announce that we’ve been recognized once again by the esteemed analyst firm Frost & Sullivan. This time, they’ve named us as a leader in the Frost Radar™ Cloud Native Application Protection Platforms report for 2023. Specifically, they recognized Wiz as a leader on their Growth index, and as the “fastest growing player in the market.”
The role that a CNAPP plays in an organization’s security strategy has never been more critical. The best CNAPP provides a unified platform, supports tool consolidation, helps teams democratize security, and enables organizations to scale programs in tandem with cloud growth. A strong CNAPP is becoming a necessary tool that all organizations will need, as it adds critical value to an organization's security posture — and that value is inevitably passed down to customers.
Frost and Sullivan note the tremendous advances Wiz has made in the market over the past year:
Wiz has made a leap in this analysis compared to last year’s assessment, primarily thanks to the continuous advancement of its platform. Wiz’s platform is seen as one of the market's most powerful cloud infrastructure security platforms, offering unified capabilities to secure cloud resources.
The report also cites that while various companies claim the title of CNAPP vendors, many lack crucial functionality, such as runtime protection, CSPM (Cloud Security Posture Management), CIEM (Cloud Infrastructure Entitlement Management), and/or application security. Wiz is one of only a handful of vendors in the market that offers a comprehensive and fully integrated set of CNAPP capabilities, covering everything from cloud infrastructure to code security. This enables Wiz to empower developers with effective risk remediation at a lower total cost of ownership (TCO) than siloed tools.
In the report, Frost and Sullivan identifies leading vendors, placing them on a Frost Radar™ Growth Index and Innovation Index. In an analysis of their top-ranked vendors, they note that “Wiz has been the fastest-growing player in the market, with impressive growth and customer recognition in the global cloud security market since its establishment.”
They call out Wiz as a leader for its unprecedented growth and strong R&D initiatives:
Wiz has emerged as the fastest-growing player in the market, achieving remarkable success over the past 2 years. In an impressive feat, Wiz became the quickest security company to reach a $100 million ARR in 2022, doubling it in early 2023. This exceptional growth can be attributed to Wiz's concerted efforts to strengthen its platform capabilities through in-house research and development (R&D) initiatives and strategic partnerships. Moreover, Wiz has expanded its global footprint by opening a new data center in Asia-Pacific (APAC), recognizing the increasing demand for cloud security solutions in this area and beyond.
Companies plotted on the Frost Radar™ are recognized as being leaders in the industry for growth, innovation, or both. They are instrumental in advancing the industry into the future.
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