USD 7.30 billion
Cloud Access Security Broker Market Size, Share, Growth Analysis, By Solution(Control and Monitoring Cloud Services, Risk and Compliance Management, Data Security (Data Leakage Prevention, Cloud Data Encryption), 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(SMEs, Large Enterprises), By Vertical(Banking, Financial Services, and Insurance, Healthcare and Life Sciences), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45F2076 |
Region:
Global |
Published Date: July, 2024
Pages:
197
|Tables:
61
|Figures:
77
Cloud Access Security Broker Market Insights
The global cloud access security broker market size was valued at USD 6.80 billion in 2022 and is poised to grow from USD 8.00 billion in 2023 to USD 29.25 billion by 2031, growing at a CAGR of 17.60% in the forecast period (2024-2031).
The growth is primarily ascribed to elements such the growing convenience of carrying out work-related duties via shadow IT operations, the expanding demand for cloud usage, and the rising number of cloud-based applications in small and medium-sized businesses. Additionally, outsourcing cloud security services has emerged as a popular trend and is helping to fuel the expansion of the sector. Information technology security is expensive to maintain internally. Additionally, the use of artificial intelligence and machine learning offers the best operational capability through multi-cloud management and promotes market expansion. For instance, Symantec, a company that offers data-centric hybrid security, will integrate its Data Loss Prevention (DLP) with CloudSOC's cloud access security broker in April 2022 to create an end-to-end enterprise DLP solution that includes Shadow IT integration with secure web gateways and firewalls, user authentication/multi factor authentication/SSO integrations, and custom dashboards and reports. Small and medium-sized businesses were able to use powerful tools more easily and affordably thanks to C2 and applications. But this change also carries with it brand-new difficulties in terms of security and visibility. Utilising cloud-native applications safely is made possible by the deployment of new solutions like a cloud-based application security broker. For instance, Networks Unlimited, a provider of technological solutions in Africa, and Netskope, a company that offers cloud, data, and network security based in the United States, entered into a cooperation in November 2021.
US Cloud Access Security Broker Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Large
Fastest Growth
Large
Growth Rate
17.8% CAGR
Global Cloud Access Security Broker Market ($ Bn)
Country Share for North America Region (%)
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Cloud Access Security Broker Market Segmental Analysis
The global cloud access security broker market is segmented by solution, service, service model, organization size, vertical, and region. Based on Solution, the market is segmented into Control and Monitoring Cloud Services, Risk and Compliance Management, Data Security (Data Leakage Prevention, Cloud Data Encryption, Tokenization), Threat Protection. Based on Service, the market is segmented into Professional Service, and Support, Training and Maintenance. Based on Service Model, the market is segmented into Infrastructure as a Service, Platform as a Service, and Software as a Service. Based on Organization Size, the market is segmented into SMEs, and Large Enterprises. Based on vertical, the market is segmented into Banking, Financial Services, and Insurance, Healthcare and Life Sciences, Government and Public Sector, IT and Telecommunications, Retail and E-commerce, Manufacturing, Education and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Cloud Access Security Broker Market Analysis by Service Model
Over 45% of the market in 2021 was occupied by the software as a service category. The ongoing usage of cloud-based apps by cloud service providers and the simplicity of setting up Software as a Service cloud storage solutions are the two factors that contribute to the high acceptance of Software as a Service among the service model. Software as a Service is also driven by faster deployment, mobility, lower costs, and scalability.
Due to factors including SMEs increasingly utilizing cloud-based services, expectations for cost and time savings, and delivering data agility and corporate cloud services to support all devices, the platform as a service is anticipated to grow at a rapid rate. Additionally, the platform as a service offers a pay-per-use option, which is also fueling market expansion.
Cloud Access Security Broker Market Analysis by Enterprise Size
The accessing and viewing of crucial data inside a cloud system for better control, collaborative control, and management of information rights is responsible for the large organizations segment accounting for the largest revenue share of over 55% in 2021. Cloud access security brokers can stop unauthorized access and undesired activities and enforce data-centric security standards by integrating data-centric auditing and protection with corporate digital rights management. Large organizations are increasingly using user and entity behavior analytics (UEBA) for a variety of purposes
Small and medium-sized businesses (SMEs) are anticipated to expand rapidly. Small and medium-sized organizations’ growing requirement for cloud access security brokers is the main factor driving the market's expansion. Because they lack support for cloud storage, many small firms use third-party cloud support services. These companies store private information, including that pertaining to employees, finances, accounting, and human resources. Due to a lack of resources and structural stability, cloud storage is not an option for small and medium-sized organizations.
Global Cloud Access Security Broker Market Size By Enterprise Price
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Cloud Access Security Broker Market Regional Insights
With a revenue share of over 45%, North America dominated the market for cloud access security brokers in 2021. In this region, increased worries about data security due to fraud and data breaches are driving sales of cloud access security broker solutions. Intense competition and new private firms are also driving the rapid rise of cloud access security broker solutions in this sector.
Over the predicted period, the Asia Pacific is expected to increase significantly. The market's expansion is attributed to expanding R&D innovations and growing demand from numerous small and medium-sized businesses for cloud-based solutions. Furthermore, the expansion of the regional sector is aided by the existence of numerous sizable developing nations like China, India, and Japan as well as the expanding cloud infrastructure in these areas.
Global Cloud Access Security Broker Market Size By Region
- Largest
- Fastest
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Cloud Access Security Broker Market Dynamics
Cloud Access Security Broker Market Drivers
Increasing Adoption of Cloud Services to Bolster Market Growth
- Organizations across the world are increasingly adopting cloud services to store, process, and manage their data and applications. This has resulted in a rapid shift of sensitive business data from on-premises infrastructure to cloud-based environments. However, this shift has also raised concerns about data security and compliance, leading to the need for CASB solutions that provide visibility and control over data in the cloud.
- Data breaches and cyber threats have become a major concern for organizations globally. The rising number and sophistication of cyber-attacks targeting cloud environments have increased the demand for CASB solutions that offer advanced security features, such as data encryption, threat detection, and access control, to protect sensitive data from unauthorized access, data leakage, and other security risks.
Cloud Access Security Broker Market Restraints
Lack of Awareness might Pose as a Threat
- Many organizations are still not fully aware of the benefits of CASB solutions and how they can help secure cloud-based applications and data. This lack of awareness and understanding can make it difficult for vendors to sell their products and can slow down market growth.
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Cloud Access Security Broker Market Competitive Landscape
These companies are investing heavily in research and development to develop advanced CASB solutions that can provide better security and compliance for cloud-based applications and data. They are also focusing on strategic partnerships and collaborations to expand their reach and customer base.
Top Player’s Company Profiles in Cloud Access Security Broker Market
- Microsoft Corporation (United States)
- Cisco Systems Inc. (United States)
- McAfee LLC (part of Intel Security Group) (United States)
- Symantec Corporation (United States)
- Forcepoint LLC (United States)
- Netskope Inc. (United States)
- Bitglass Inc. (United States)
- CipherCloud Inc. (United States)
- Palo Alto Networks Inc. (United States)
- Oracle Corporation (United States)
- Proofpoint Inc. (United States)
- Skyhigh Networks Inc. (United States)
- Fortinet Inc. (United States)
- Zscaler Inc. (United States)
- Barracuda Networks Inc. (United States)
- Trend Micro Inc. (Japan)
- IBM Corporation (United States)
- Thales Group (France)
- Alert Logic Inc. (United States)
- CloudLock LLC (United States)
- OneLogin Inc. (United States)
- CloudCodes Software Pvt. Ltd. (India)
Cloud Access Security Broker Market Recent Developments
- In July 2024, Fortinet announced that KDDI uses Fortinet Unified SASE as a managed secure access service edge (SASE) service. The service from KDDI uses Fortinet’s industry-leading Unified SASE solution Unified SASE solution as the core product for its Global SASE Platform Service by Fortinet offering.
- In January 2024, Zscaler IMC announced the launch of Zscaler zero trust SSC, which is a single vendor secure access services solution and the availability of zero trust SDN solution. The solutions offered by the company hardwood on the zero-trust architecture.
- In January 2024, Lumen Technologies collaborated with Versa Networks for increasing its SD-WAN and secure access service edge capabilities and announced the launch of an artificial intelligence powered network edge security product.
Cloud Access Security Broker Key Market Trends
- Many organizations are now using multiple cloud-based applications and services from different providers, which has led to the rise of multi-cloud environments. This trend is expected to continue, and CASB solutions that can provide visibility and security across multiple cloud environments are likely to become increasingly important.
Cloud Access Security Broker Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
Our research indicates that the increased adoption of cloud-based services and applications by organisations across all industries will lead to significant growth for the worldwide cloud access security broker (CASB) market in the years to come. CASB solutions are designed to provide better security and compliance for cloud-based data and applications by providing visibility into cloud usage, enforcing security policies, and detecting and responding to security threats. The rise of remote work and the shift towards digital transformation have also contributed to the demand for CASB solutions. Additionally, the increasing frequency and severity of cyber-attacks have made organizations more aware of the need for robust security solutions. North America is currently the largest market for CASB solutions, due in part to the presence of many leading vendors in the region. However, the Asia-Pacific region is predicted to enjoy the largest growth rate in the next few years, due to the increased adoption of cloud-based services in countries. In the upcoming years, there will be a considerable increase in demand for enhanced security and compliance for cloud-based apps and data, which will propel the global CASB market to new heights.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 7.30 billion |
| Market size value in 2031 | USD 31.89 billion |
| Growth Rate | 17.8% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Cloud Access Security Broker Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Cloud Access Security Broker Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Cloud Access Security Broker Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cloud Access Security Broker Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cloud Access Security Broker Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cloud Access Security Broker Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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