REPORT HIGHLIGHT
Cloud Access Security Broker (CASB) Market size was valued at USD 7,008.1 Million in 2022, expanding at a CAGR of 19.1% from 2023 to 2030.
A Cloud Access Security Broker (CASB) is a security solution that acts as an intermediary between an organization's on-premises infrastructure and cloud service providers. CASBs provide security and governance for cloud-based applications and resources by enforcing security policies, monitoring user activity, and implementing data protection measures. CASBs play a crucial role in enabling organizations to securely adopt cloud services while maintaining control, visibility, and compliance over their data and applications in the cloud. Cloud Access Security Brokers may enforce a number of different security access controls, including encryption and device profiling. They may also provide other services such as credential mapping when single sign-on is not available.
Cloud Access Security Broker (CASB) Market- Market Dynamics:
- The increasing adoption of cloud-based applications by end users is expected to drive the growth of the Cloud Access Security Broker (CASB) market.
- The increasing adoption of cloud-based applications such as Office 365, salesforce, google apps, box, and others by end users is expected to drive Cloud Access Security Broker (CASB) market growth. CASBs provide security controls, data encryption, and threat protection for cloud applications, helping organizations maintain security and comply with industry regulations. According to Cloud Adoption statistics, 94% of companies use cloud services in 2023. This massive percentage is partially due to a massive shift that occurred in 2020. Due to the COVID-19 Pandemic, which caused a reliance on remote work, 61% of businesses migrated their workloads to the cloud. Further, even at 94%, cloud adoption is still growing in 2023. The growing adoption of cloud-based applications and services presents a significant opportunity for CASB's market growth. However, Complexity and Deployment Challenges may hamper the growth of the Cloud Access Security Broker (CASB) Market.
Cloud Access Security Broker (CASB) Market- Key Insights:
- As per the analysis shared by our research analyst, the global Cloud Access Security Broker (CASB) market is estimated to grow annually at a CAGR of around 19.1% over the forecast period (2023-2030)
- The Cloud Access Security Broker (CASB) industry is projected to grow at a significant rate due to the growing awareness of sustainable growth
- Based on Enterprises sizes segmentation, Large enterprises was predicted to show maximum market share in the year 2022
- Based on component segmentation, solution was the leading type in 2022
- Based on Service model segmentation, Software as a Service was the leading type in 2022
- Based on verticals segmentation, Telecommunication, IT was the leading type in 2022
- On the basis of region, North America was the leading revenue generator in 2022
Cloud Access Security Broker (CASB) Market- Segmentation Analysis:
- The Global Cloud Access Security Broker (CASB) Market is segmented on the basis of enterprises size, Compound, Service model, verticals, and Region.
- The market is divided into three categories based on enterprise size: Small Enterprises, Medium Enterprises, and Large Enterprises. Large enterprises dominate the market. Due to the size, complexity, and requirement for strong security measures of crucial businesses, Cloud Access Security Brokers (CASBs) are particularly relevant and beneficial.
- The market is divided into two categories based on Compound: Solution and Service. The solution segment dominates the market. A Cloud Access Security Broker (CASB) is a comprehensive security solution that addresses the unique security challenges associated with cloud services.
- The market is divided into two categories based on the Service Model: Platform as a Service, Software as a Service, and Infrastructure as a Service. Software as a Service dominates the market. Cloud Access Security Brokers (CASBs) play a crucial role in securing Software as a Service (SaaS) applications.
- The market is divided into three categories based on Verticals: BFSI, Healthcare, Education, Consumer Goods and Retail, Manufacturing, Telecommunication, IT, Government and Others. The telecommunication and IT sector dominates the market and is likely to maintain its dominance during the forecast period. In the telecommunication and IT sector, Cloud Access Security Brokers (CASBs) play a crucial role in ensuring the security of cloud-based services and applications.
Cloud Access Security Broker (CASB) Market- Geographical Insights:
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to dominate the growth of the Cloud Access Security Broker (CASB) Market, due to rise in demand for work-from-home and remote working policies during the period of the COVID-19 pandemic aided. The COVID-19 pandemic forced many organizations to implement work-from-home and remote work policies to ensure business continuity. A year later, according to the US Bureau of Labor Statistics' Current Population Survey, 48.7 million people (about 35% of employed workers) reported working from home in the prior four weeks because of COVID-19. Demand for CASB solutions is projected to maintain and rise in the coming years as organizations continue to embrace hybrid work patterns and rely on cloud technology. Europe and Asia Pacific are expected to dominate the Cloud Access Security Broker (CASB) Market during the forecast period.
Cloud Access Security Broker (CASB) Market- Competitive Landscape:
The Cloud Access Security Broker (CASB) market has grown significantly in recent years as a result of increased cloud service usage and the requirement for greater security and compliance in cloud environments. As enterprises seek sophisticated security controls and visibility over their cloud apps and data, the demand for CASB solutions continues to climb. Several significant manufacturers compete for market share in the CASB industry, offering a variety of solutions. It focuses on providing a comprehensive set of security controls, including threat detection, encryption, and compliance monitoring. The CASB market is continuously evolving as new technologies emerge and organizations strive to enhance their cloud security posture.
Recent Developments:
Cisco to Expand Cloud Security Portfolio with the Acquisition of CloudLock. this specializes in Cloud Access Security Broker, or CASB, technology and helps organizations move faster to the cloud. CloudLock delivers cloud security to help track and manage user behavior and sensitive data in SaaS applications, such as Office365, Google Drive, and Salesforce.
Key features of the study:
- This proposed research study on Cloud Access Security Broker (CASB) market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
- The report provides the client the latest up-to-date and trending insights about the Cloud Access Security Broker (CASB) market.
- The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Cloud Access Security Broker (CASB) market
- The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Cloud Access Security Broker (CASB) market
- Impact of COVID-19 on Cloud Access Security Broker (CASB) market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Cloud Access Security Broker (CASB) market post-COVID will also be covered.
- In order to give the users of this report a comprehensive view on the Cloud Access Security Broker (CASB) market, we have also included competitive landscape and key innovator analysis for the Cloud Access Security Broker (CASB) market.
- The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
- The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the Cloud Access Security Broker (CASB) market.
- In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
- The global Cloud Access Security Broker (CASB) market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL CLOUD ACCESS SECURITY BROKER (CASB) MARKET KEY PLAYERS
- Cisco Systems, Inc.
- Microsoft Corporation
- Skyhigh Networks
- Palo Alto Networks Inc
- Lookout
- iboss Cybersecurity
- Broadcom Inc.
- Netskope
- Proofpoint Inc,
- Zscaler, Inc.
GLOBAL CLOUD ACCESS SECURITY BROKER (CASB) MARKET, BY ENTERPRISES SIZE
- Small Enterprises
- Medium Enterprises
- Large Enterprises
GLOBAL CLOUD ACCESS SECURITY BROKER (CASB) MARKET, BY COMPONENT
GLOBAL CLOUD ACCESS SECURITY BROKER (CASB) MARKET, BY SERVICE MODEL
- Platform as a Service
- Software as a Service
- Infrastructure as a Service
GLOBAL CLOUD ACCESS SECURITY BROKER (CASB) MARKET, BY VERTICALS
- BFSI
- Healthcare
- Education
- Consumer Goods And Retail
- Manufacturing
- Telecommunication And IT
- Government
- Others
GLOBAL CLOUD ACCESS SECURITY BROKER (CASB) MARKET, BY REGION
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA