ID: MRFR/ICT/4309-HCR | 100 Pages | Published By Shubham Munde on March 2023
Cloud Access Security Broker Market Size is anticipated to reach USD 21 billion by 2030, registering a CAGR of 17.80% during 2022-2030
According to the latest research report, during the projected period of 2022-2030, the worldwide cloud access security broker market size is anticipated to increase at a compound annual growth rate (CAGR) of about 17.80% with USD 21 billion. A cloud access security broker is described as a cloud-based trusted security system that is used to safeguard the important data of businesses and is accessible through the internet. The shortage of storage capacity has pushed businesses to store files in the cloud; nevertheless, the increasing number of instances of security breaches has raised the need of cloud access security intermediaries in the process of storing information in the cloud.
The leading competitors in the cloud access security broker industry are Imperva, Bitglass, CloudLock, CipherCloud, and Skyhigh Networks(U.S.). Cloud access security brokers (CASBs), according to Imperva, a well-known player in the cloud access security broker industry, help organizations secure cloud applications and data in surroundings where safety plays a significant role between both the cloud application supplier and the subscribing organization. Its cloud security mechanisms are marketed under the brand name Imperva solutions and include the DDoS prevention solution, as well as the Imperva CounterBreach solution for protecting from insider cloud attacks. One of the leading players in the cloud access security brokers market, Bitglass, provides a multi-protocol gateway design with CASB Core that protects against unidentified data and virus risks on both controlled as well as uncontrolled apps and equipment.
This report contains all the information on the global cloud access security broker market analysis and its strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors.
Covid 19 Analysis:
COVID-19 illness started spreading globally at the start of 2020, infecting billions of people who are causing work stoppages and foot bans in several places across the globe. Most industries have suffered, with the exception of essential aid and life support goods, even Enterprise Flash Storage has also suffered significantly.
Some of the major reasons driving the market are a rise in accidental deletions security breaches, the ability of businesses to monitor their systems in real moments, and the increasing use of cloud-based applications amongst organizations.
The availability of information at any time as well as the ability to track it in real-time are also contributing to industry development. Regulations are continuously being revised by regulatory organizations, finding it challenging for cloud storage providers to handle cloud security platforms effectively. As a result, the outsourced of security solutions has emerged as the most prominent trend, which is propelling the Cloud Access Security Brokers market growth even further.
Increasingly popular is the exporting of security products, which is propelling the growth of a Cloud Access Security Brokers Industry even more rapidly. Despite the reality that the Global Cloud Access Security Brokers Industry is expected to expand at a significant rate, it is expected to be hampered by a number of reasons.
One of these factors is a general lack of knowledge about the most up-to-date cloud access security options. Because this technique is in its early stages, many companies are unaware of its benefits and potential applications. In order to manage threats, comply with regulations, and get insight into data, a handful of companies have used cloud access security broker solutions. Furthermore, since there is a significantly smaller number of retailers offering cloud access security brokering services, this is not cost-effective to use the service.
Cumulative Growth Analysis:
During the projected timeframe, the SaaS service model is anticipated to have the highest market share within the cloud access security brokers industry. The increased use of cloud-based software from cloud service providers is just a significant factor in the increasing acceptance of SaaS among service models. The SaaS apps, on the other hand, may include malware that results in severe data loss. By controlling and regularly monitoring cloud-based apps and cloud services, the cloud access security brokers’ services assist to decrease the loss of information.
Value Chain Analysis:
According to the reports, There are many submarkets within the worldwide cloud access security broker market. These include product or network operators; delivery models; organization sizes; and end-users. The solution sector is comprised of cloud-based tracking and management services, governance and compliance administration, information security, and threat prevention technologies and procedures.
Additionally, the threat prevention system is subdivided into three categories: managed applications, unmanaged applications, and mobile security. Professional services, training, and technical support are all included in the service sector. The SaaS, PaaS, and IaaS delivery models are included in this category. Small and medium-sized businesses (SMEs), as well as big corporations, comprise the organization size category. The end-user sector includes businesses in the financial services industry, retail, government, healthcare, information technology, and telecommunications, media and entertainment, education, travel and hospitality, and other industries.
Cloud Access Security Broker Market Segmentation Overview:
The market is segmented on the basis of product or network operators, delivery models, organization sizes, end-users, and regions. The global cloud access security broker market trend is expected to witness decent growth during the forecast period.
Based on the application, the market is segmented into cloud-based tracking and management services, governance and compliance administration, information security, and threat prevention technologies and procedures.
Based on the propulsion types, the market is segmented into the financial services industry, retail, government, healthcare, information technology, and telecommunications, media and entertainment, education, travel and hospitality, and other industries.
Cloud Access Security Broker Market Regional Analysis:
The Asia Pacific, North America, Europe, and Rest of the World regions are all investigated in the worldwide cloud access security broker market. The market for cloud access security brokers in North America is responsible for the major proportion of the worldwide market. Because of the increasing number of IT needs and the growing number of security issues. Because so many businesses are moving to cloud computing, the United States is likely to have a larger proportion of the industry in the future. The growing popularity of service models such as infrastructure as a service and saas. also is having an influence on the economy of cloud access security brokers in the area. - The Asia Pacific market is anticipated to reach the fastest rate in the coming years. The increase the especially in small and medium businesses (SMEs) as well as the expansion of the e-commerce industry in the area are driving the growth of a cloud access security broker market share.
It is predicted that the market for assistance, education, and scheduled maintenance would expand the fastest. In order to service clients across the world, each cloud access security broker provider has an assistant. Communities portals are created where customers may share ideas with individuals from other companies via online help, chat service, as well as other real-time help alternatives.
Imperva, Inc. (@Imperva), a worldwide leader in cybersecurity, launched a new data privacy solution in May 2021 to help businesses find, identify, and secure personal data in any environment, including on-premises, in the cloud, hybrid, and multi-cloud environments.PROTEGITY, a global leader in data security released details of three Protegrity merchandise in the AWS Marketplace on May 20, 2021: Protegrity Discover, Cloud Protect for Amazon Redshift, and Cloud Protect for Snowflake. PROTEGITY, a global leader in data security, is a leading provider of data security solutions.
By Organization Size:
|Market Size||USD 21 billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Solution, End Users|
|Geographies Covered||North America, Europe, Asia-Pacific|
|Key Vendors||Imperva (U.S.) Bitglass (U.S.) Cisco Systems Inc. (U.S.) CipherCloud (U.S.) Skyhigh Networks (U.S.) Netskope (U.S.) Protegrity (U.S.) Adallom (U.S.) Symantec Corporation (U.S.) CloudMask (U.S.)|
|Key Market Opportunities||Cloud Access Security Brokers market growth|
|Key Market Drivers||increasing use of cloud-based applications amongst organizations.|
Cloud Access Security Broker Market Size is anticipated to reach USD 21 billion by 2030
The market is expected to transform at a 17.80% CAGR.
The key contenders in the market are Imperva (U.S.) Bitglass (U.S.) Cisco Systems Inc. (U.S.) CipherCloud (U.S.) Skyhigh Networks (U.S.) Netskope (U.S.) Protegrity (U.S.) Adallom (U.S.) Symantec Corporation (U.S.) CloudMask (U.S.)
Solution, service, delivery model, organization size and end-users are the segments involved in the market study.
The Asia-Pacific region is expected to be an early adopter of the cloud access security broker market by 2030.