Cloud Access Security Broker Market Size To Expand at a Notable CAGR Of 20% During 2017 - 2023

Pune, India, February,2019/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Cloud Access Security Broker Market.

Market Analysis

The demand of the global cloud access security has been rising on account of the growing need for cybersecurity across industries, reported by Market Research Future. The market is estimated to register a CAGR of 20% in the forecast period (2017-2023). The report encompasses segmental analysis, valuable insights, driving factors, and competitive outlook.

Cloud access security services have gained popularity across the globe as the enterprises have shown active participancy in leveraging the trend to its advantages. Moreover, several new shareholders have entered the global market of cloud-based security brokers making a quest in growing the market with a confident pull.

Cloud access security is defined as a cloud-based security solution which protects all the critical data of an enterprise on behalf of manual security agendas. The rising demands of cloud access security broker are encouraged by the lack of storage infrastructure in the organizations to store information on cloud software. This is required to prevent rising incidents of data thefts in larger amount and control over leveraging the access to the information gathered.

Factors Driving Market Growth

The massive demand of cloud access security broker has driven the cloud access security broker market growth in splendid ways having key drivers including rising in data loss security thefts, real-time monitoring capabilities of enterprises, and increased adoption of cloud-based applications among the organizations.

At the same time, the given set of security policies can be executed automatically through a cloud access security broker, making it easier for the companies to implement their own security rules on all operations. The growing risk of disclosing data along with the unveiling of online data has led to increased demand from the cloud access security broker market. Such thefts of online attacks have made enterprises more aware of securing the data, which has led to an increased number of adoption and installation of cloud access security solutions. Thus, the cloud access security broker market is the prime solution maker for thefts resulting in a positive pull to the market in the forecast period. By considering these factors, the global cloud access security broker market is expected to witness an outstanding level of competition amongst the fellow market players in the years to come. These projections are considerably focusing on earning essential rewards by capturing the markets of large industries and sectors.

The global cloud access security broker market has suffered a few setbacks due to a few loopholes in the execution of cloud services in the past years. However, the software industry has undergone some rapid advancements in resolving cloud storage services, due to which the demand for the same has escalated in recent times. The facilities have necessitated prevention of data leakage wisely, hence, it is expected for the market to grow with the lion's share.

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Market Analysis

The global cloud access security broker market is segmented into solution, service, delivery model, organization size and end-users.

Of these, the solution segment is witnessed to take control and monitoring cloud services, risk, compliance management, data, and threat security. The service segment has further dividends such as professional service, training, and technical support. The delivery model segment entails of SaaS, PaaS, and IaaS. The organization size segment consists of small and medium enterprises (SMEs), large enterprises. The end-user segment involves BFSI, retail, government, healthcare, IT & telecommunication, media & entertainment, education, travel & hospitality, and others.

Regional Analysis

The global cloud access security broker market is covered mainly in Asia Pacific, North America, Europe, and Rest of the World.

Of these, North America market accounts for the highest share in the global cloud access security broker market., Owing to the increasing IT requirements and rising security concerns and majorly shifting towards cloud services. The adoption of service models, such as platform as a service and software as a service is also impacting the market for cloud access security broker in the region.

Whereas, Asia Pacific market is expected to grow at the highest CAGR due to the rise in the number of small & medium size enterprises and the growing e-commerce sector.

Key Players

Some of the prominent players in the global cloud access security broker market are Imperva (U.S.), Bitglass (U.S.), Cisco Systems, Inc. (U.S.), CipherCloud (U.S.), and Skyhigh Networks (U.S.). Netskope (U.S.), Protegrity (U.S.), Adallom (U.S.), Symantec Corporation (U.S.), and CloudMask (U.S.) are among others.

Industry Latest News

July 09, 2018: Atos has launched a new Cloud Access Security Broker Service using McAfee Sky-high Security Cloud to safeguard enterprise applications and data in the cloud. The new Atos CASB service will give enterprise customers the ability to discover and remediate the risk from the use of ‘Shadow IT’ across the enterprise to control and enforce data privacy and compliance policies across Shadow IT. Also, sanctioned cloud apps such as Office 365, Box, Salesforce, and ServiceNow, and IaaS platforms such as AWS and Azure; protect enterprises’ data through persistent protection, wherever it moves within the cloud.