Cloud Access Security Broker Market Size, Status, Business Opportunities, Key Findings and Industry Outlook 2027

Cloud Access Security Broker Market Overview

The Cloud Access Security Broker Market 2020 is all set to achieve an approximate growth rate of 20% between 2017 and 2023, considered to be the review period in the report by Market Research Future (MRFR).

Growth Boosters and Main Restraints

Cloud access security broker or CASB refers to a differentiated technology from the traditional security categories such as web application firewalls (WAFs), identity as a service (IDaaS), enterprise firewalls and secure web gateways (SWGs). Since the emergence of CASB in 2011, it was viewed as a cloud visibility solution used for discovering shadow IT. However, it has expanded to provide a vast array of features across the pillars of compliance, visibility, data security and threat protection.

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With the surge in cloud usage and the rising maturity, the adoption of CASBs among enterprises has soared considerably in recent years. As of today, it has become a critical component in an enterprise security stack. It helps detect any potential misuse of the cloud services, including activities that can take place on the inside as well as by third parties.

Governing bodies in various regions are continuously revamping their legislations, which has made managing cloud protection services tough for cloud storage vendors. Therefore, outsourcing security solutions has emerged as one of the key trends that are inducing major growth in the CASB market even further. Teal-time monitoring abilities, controlled data loss, rising acceptance of cloud-based applications and increased regulatory enforcement are some other significant growth boosters in the cloud access security broker (CASB) market.

Market Segmentation

The cloud access security broker market analysis conducted by MRFR data experts highlight segments like solution, service, delivery model, organization size and end-users.

Various solutions covered by the experts are data security and threat protection, risk and compliance management as well as control and monitoring cloud services. The types of threat protection solutions are unmanaged apps, mobile security and managed apps.

The service-wise market segments include training, professional service and technical support.

The delivery model-based market segmentation comprises PaaS, IaaS and SaaS. Every type of business functionality is easily accessed with the use of SaaS at cheaper operating costs, which supports its deployment across SMBs.

The organization sizes discussed in the report are small and medium enterprises (SMEs) as well as large enterprises.

The primary end-users deploying cloud access security broker solutions include travel & hospitality government, healthcare, education, BFSI, media & entertainment, IT & telecommunication, retail, and others.

Regional Insight

The regional segmentation of the cloud access security broker (CASB) market comprises Asia Pacific (APAC), Europe, North America, and the Rest of the World (RoW).

North America accounts for the highest implementation of CASB services, given the rapid expansion of the cloud-enabled services in the United States (U.S). The North America market largely benefits from the high awareness levels among enterprises about cloud security. Also, the increasing adoption of various other service models like software as a service and platform as a service boosts the demand for cloud access security broker in the region. Companies including Oracle and Blue Coat Systems are continuously working on developing cloud access security broker platforms with better features, backed by acquisitions and partnerships to solidify their positions in the market.

A substantial growth has been noted in Europe, on account of the consistent surge in the demand for data loss prevention as well as security solutions that require no hardware maintenance.

The APAC market for cloud access security broker is on track to achieve the fastest expansion rate, thanks to the growing number of small & medium size enterprises combined with the expansion of the e-commerce sector.

Prominent Contenders

Some of the top contenders striving to get a bigger share in the CASB market include CloudMask (U.S.), Cisco Systems, Inc. (U.S.), Skyhigh Networks (U.S.). Imperva (U.S.), Adallom (U.S.), Bitglass (U.S.), Symantec Corporation (U.S.), Protegrity (U.S.), CipherCloud (U.S.), Netskope (U.S.), and more.

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