Cloud Access Security Brokers Market: Global Industry Analysis and Forecast (2023-2029)

Cloud Access Security Brokers Market was valued at US$ 10.67 Bn. in 2022. Global Cloud Access Security Brokers Market size is estimated to grow at a CAGR of 18.11 %.
Cloud Access Security Brokers Market Overview:
The cloud access security broker (CASB) market as services and products that address security gaps in the company’s use of cloud services. The cloud access security broker (CASB) technology is the result of the need to secure cloud services which are being approved at a significantly increased rate and access to them from users both outside and within the traditional enterprise edge, plus increasing direct cloud-to-cloud access. They deliver distinguished, cloud-specific capabilities usually not available as features in other security controls like secure web gateways (SWGs), web application firewalls (WAFs), and enterprise firewalls.To know about the Research Methodology :- Request Free Sample Report

Cloud access security brokers provide a central location for governance and policy concurrently across various cloud services for both devices and users and granular visibility into and control over sensitive data and user activities. The CASBs are the solutions that are on-premises and cloud-based solutions used to combine and implement enterprise security policies such for example authentication, single sign-on service, encryption, credential mapping, malware detection, tokenization, device profiling, and others.

Cloud Access Security Brokers Market dynamics and Trends:

• The need for CASB services is proliferating as cloud-based application use has increased between SMBs. Real-time monitoring capabilities, controlled data loss, increased acceptance of cloud-based applications and increased regulatory enforcement are the major drivers responsible for the growth of the global market for cloud access security brokers.

• The cloud technologies budding adoption has increased security concerns, contributing to a positive influence on CASB market growth globally. Governing bodies constantly restoring legislation makes the management of cloud protection services challenging for cloud storage retailers. Outsourcing security solutions has thus become the trend of the cloud access security broker market even further.

Software as a Service segment accounted for over 41% of the overall market share in 2022.

Based on the Service Model, the cloud access security brokers market is segmented into Infrastructure as a Service, Platform as a Service and Software as a Service. Among these, Software as a Service (SaaS) segment was valued at US$ xx Bn. in 2022 and is expected to reach US$ xx bn. by 2029 at a CAGR of 19% over the forecast period. The SaaS is a software distribution model in which a third-party provider hosts the application and makes them available to clients over the Internet. Nevertheless, the SaaS applications might comprise malicious activities that may cause substantial data loss. The cloud access security brokers solutions help in minimizing the loss of data over control and regular monitoring of the cloud services and cloud-based applications.

Data Security Segment is expected to grow at the highest CAGR of 20.14% during 2023-2029.

By solution, the data security segment is expected to account for xx% of the total market share in 2022 and is expected to grow at the highest CAGR of 20.14% during the forecast period. This growth is attributed to the development of complex applications and growing workloads. Presently, organizations need to follow regulatory compliance to monitor and control their data irrespective of the location. The data security solution segment is the core segment that avoids any kind of data leakage while affecting from one place to another.



The professional service segment held the largest market share, accounting for nearly 58.7% in 2022.

In terms of service segment, the global CASBs market is segmented into professional service and support, training, and maintenance. In 2022, professional service dominated the global market and is expected to maintain its dominance during the forecast period. The professional service providers give data security policies to the customers to protect their sensitive information and critical business data hence professional service segment holds the highest market share in the CASBs market globally.

Top 10 CASB solutions in 2022:

Any cloud-based organization needs a robust CASB (cloud access security broker) solution to ensure application and data integrity and security. Following are the top 10 cloud access security broker solutions:

McAfee
Microsoft
Palo Alto Networks
Proofpoint
Broadcom
Censornet
Forcepoint
Iboss
Lookout
Netskope

McAfee:

McAfee’s MVISION Cloud entitlements the ‘largest and most accurate registry of cloud services,’ Artificial Intelligence (AI) and machine learning (ML) functionality, encryption, DLP, and more. Office 365 is a particular strength.

Microsoft:

Microsoft Defender for Cloud Apps addresses discovery, DLP, compliance, access and other security functions across email, SaaS apps, social media, and more. Office 365 is, of course, a mainly strong use case.

Palo Alto Networks:

Palo Alto Networks has taken its considerable security know-how to bear on the market for CASB and SaaS protection with a present that includes SaaS monitoring, DLP, compliance, and threat protection, plus strong integration with Palo Alto firewalls and access solutions.

Proofpoint:

Enterprise cyber-security company Proofpoint’s CASB is a user and DLP focused solution for revealing shadow IT activity and handling the use of third-party Software as a Service (SaaS) applications.
Cloud Access Security Brokers Market Reginal Insight:
North America is an Emerging Market:

North America is expected to hold the largest xx% growth rate during 2023-2029 thanks to innovations through R&D and technology and growing demand for business flexibility and agility. The CASB market is expected to experience huge growth in APAC owing to improved technology, scalability, cost efficiency, and improved productivity.

The U.S. CASB Market is Projected at US$ xx.7 Billion by 2029, While China is Forecast to Grow at 19.7% CAGR:

The CASB market in the U.S. is projected at US$xx.7 Billion by 2029. China, the world's second-largest economy, is estimated to reach an expected market size of US$xx.9 Billion by the year 2029 trailing a CAGR of 19.7% during 2023-2029. Among the other important geographic markets are Canada and Japan, each forecast to grow at 17.2% and 17.1% respectively over the 2023-2029 period. Within Europe, Germany is estimated to grow at approximately 18.1% CAGR.

The objective of the report is to present a comprehensive analysis of the global Cloud Access Security Brokers Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Cloud Access Security Brokers Market dynamic, structure by analyzing the market segments and projecting the Cloud Access Security Brokers Market size. Clear representation of competitive analysis of key players by Application, price, financial position, product portfolio, growth strategies, and regional presence in the market make the report investor’s guide.
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Cloud Access Security Brokers Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 10.67 Bn.


Forecast Period 2023 to 2029 CAGR:
18.11%
Market Size in 2029:
US $ 34.23 Bn.


 Segments Covered:
by Solution
Control and Monitoring Cloud Services
Risk and Compliance Management
Data Security
Threat Protection


by Service
Professional Service
Support, Training, and Maintenance


by Service Model
Infrastructure as a Service
Platform as a Service
Software as a Service


by Organization size
Small and Medium Businesses (SMBs)
Large Enterprises


by Vertical
Banking, Financial Services, and Insurance (BFSI)
Education
Government
Healthcare and Life Sciences
Manufacturing
Retail and Wholesale
Telecommunication and IT
Others



Cloud Access Security Brokers Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Cloud Access Security Brokers Market Key Players:
1. Imperva
2. Bitglass
3. CloudLock
4. CipherCloud
5. Skyhigh Networks
6. Forcepoint
7. Netskope
8. Microsoft Cloud App Security
9. Protegrity
10. Adallom
11. Perspescys
12. CloudMask
13. Palo Alto Networks, Inc.
14. Vaultive Inc.
15. Fortinet, Inc

Frequently Asked Questions:

1] What segments are covered in the Cloud Access Security Brokers Market report?
Ans. The segments covered in the Cloud Access Security Brokers Market report are based on Solution, Service, Service Model, Organization size, Vertical.

2] Which region is expected to hold the highest share in the Cloud Access Security Brokers Market?
Ans. North America region is expected to hold the highest share in the Cloud Access Security Brokers Market.

3] What is the market size of the Cloud Access Security Brokers Market by 2029?
Ans. The market size of the Cloud Access Security Brokers Market by 2029 is US$ 34.23 Bn.

4] What is the forecast period for the Cloud Access Security Brokers Market?
Ans. The forecast period for the Cloud Access Security Brokers Market is 2023-2029.

5] What was the market size of the Cloud Access Security Brokers Market in 2022?
Ans. The market size of the Cloud Access Security Brokers Market in 2022 was US$ 10.67 Bn.