Global Cloud Access Security Brokers Market Size By Deployment Mode, By Organization Size, By Vertical, By Geographic Scope And Forecast

Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

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Global Cloud Access Security Brokers Market Size By Deployment Mode, By Organization Size, By Vertical, By Geographic Scope And Forecast

Cloud Access Security Brokers Market Size And Forecast

Cloud Access Security Brokers Market size was valued at USD 7 Billion in 2023 and is projected to reach USD 25.57 Billion by 2030, growing at a CAGR of 17.9% during the forecast period 2024 to 2030.

The Cloud Access Security Brokers (CASB) market refers to the segment within the broader cybersecurity industry that focuses on providing security solutions and controls for organizations utilizing cloud services. CASBs act as intermediaries between cloud service providers and cloud consumers, enabling organizations to extend their security policies and controls to cloud-based applications and data. These solutions offer functionalities such as data encryption, access control, threat detection, and compliance monitoring to mitigate the risks associated with cloud adoption.

Global Cloud Access Security Brokers Market Drivers

The market drivers for the Cloud Access Security Brokers Market can be influenced by various factors. These may include

  • Cloud Adoption To safeguard sensitive data and apps in the cloud, there is a growing need for improved security solutions due to the quick uptake of cloud services across industries.
  • Data Security Concerns The need for CASB solutions is being driven by enterprises’ growing concerns about data breaches, compliance requirements, and data residency requirements as a result of the volume of data being kept and accessed in the cloud.
  • Regulatory Compliance To achieve compliance and avoid heavy fines, enterprises must deploy strong security measures, including CASB solutions, in order to comply with stringent data protection standards like GDPR, CCPA, HIPAA, and others.
  • Shadow IT Employers face serious security threats as a result of the growing use of unapproved cloud apps and services by employees. By identifying and managing shadow IT usage, CASB solutions lessen security risks.
  • Remote Workforce Cloud-based collaboration tools and applications have been more widely used as a result of the transition towards remote work patterns. Regardless of the location of employees, CASB solutions allow enterprises to implement security standards and secure remote access to cloud resources.
  • Data Loss Prevention (DLP) To address concerns about data exfiltration and insider threats, CASB systems provide advanced DLP capabilities to stop unauthorized access, sharing, and leakage of sensitive data in the cloud.
  • Growing Awareness As a result of organizations’ proactive efforts to improve their cloud security posture and growing awareness of the security risks connected with cloud adoption, there is a growing demand for CASB solutions.
  • Integration with Current Security Infrastructure To give enterprises complete security coverage throughout their IT environments, CASB solutions are becoming more and more integrated with current security technologies, including firewalls, identity and access management (IAM) systems, and SIEM (Security Information and Event Management) systems.

Global Cloud Access Security Brokers Market Restraints

Several factors can act as restraints or challenges for the Cloud Access Security Brokers Market. These may include

  • Complexity of Integration It can be difficult and time-consuming to integrate CASB systems with the current IT infrastructure, particularly in large enterprises with diverse environments. Adoption may be hampered by compatibility problems and the requirement for customisation.
  • Cost considerations The licensing fees, implementation costs, and continuing maintenance expenditures associated with CASB solutions frequently necessitate a large upfront investment. The implementation of CASB solutions may be hindered by financial limitations, especially for small and medium-sized businesses (SMEs).
  • Impact on Performance CASB solutions involve extra overhead, like latency and network bottlenecks, which might impair cloud application performance and user satisfaction. If an organization believes that CASB solutions may negatively affect productivity, it may be reluctant to implement them.
  • User Resistance End users may find multi-factor authentication and data access controls, two security features enforced by CASB solutions, to be onerous. Employee resistance to implementing new security procedures may compromise the efficacy of CASB deployments.
  • Compliance Challenges Careful configuration and continuous monitoring are necessary to achieve compliance with regulatory requirements such as GDPR, HIPAA, and PCI DSS with CASB solutions. Organizations may run the danger of financial and legal consequences if compliance issues are not sufficiently addressed.
  • Vendor lock-in Companies that depend on one CASB vendor may experience vendor lock-in, which makes it more difficult for them to negotiate good terms or move to another provider. The selection of a vendor and integration activities may also be hampered by interoperability problems between various CASB platforms.
  • Threat Landscape Evolution CASB solutions constantly face new obstacles in their efforts to identify and neutralize emerging cyberthreats due to the constantly changing nature of the threat landscape. Because hackers are always coming up with new ways to get around security measures, CASB capabilities need to be updated and improved on a regular basis.
  • Lack of Skilled Personnel Organizations may find it more difficult to implement and maintain these solutions if there is a dearth of cybersecurity specialists with knowledge of CASB technologies. The cybersecurity industry continues to face substantial hurdles in hiring and maintaining competent workers.

Global Cloud Access Security Brokers Market Segmentation Analysis

The Global Cloud Access Security Brokers Market is segmented based on Deployment Mode, Organization Size, Vertical And Geography.

Cloud Access Security Brokers Market, By Deployment Mode

  • Cloud-based CASBCASB solutions hosted in the cloud and delivered as a service. They offer scalability, flexibility, and ease of deployment.
  • On-premises CASBCASB solutions deployed locally within an organization’s infrastructure. They provide greater control and customization but require more management and maintenance.

Cloud Access Security Brokers Market, By Organization Size

  • Small and Medium-sized Enterprises (SMEs)CASB solutions tailored to the needs and budgets of small and medium-sized businesses.
  • Large EnterprisesCASB solutions designed to meet the complex security requirements of large organizations with extensive IT infrastructures and a wide range of cloud applications.

Cloud Access Security Brokers Market, By Vertical

  • BFSI (Banking, Financial Services, and Insurance)CASB solutions customized to address the unique security and compliance challenges faced by the financial industry.
  • HealthcareCASB solutions specialized in protecting sensitive healthcare data stored and accessed in the cloud while ensuring compliance with regulations such as HIPAA.
  • Government and Public SectorCASB solutions designed to meet the security and compliance needs of government agencies and public sector organizations.
  • IT and TelecomCASB solutions tailored to the specific requirements of the IT and telecommunications sector, which often deal with large volumes of sensitive data.

Cloud Access Security Brokers Market, By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa

Key Players

The major players in the Cloud Access Security Brokers Market are

  • Netskope
  • McAfee Skyhigh Security
  • Zscaler
  • Palo Alto Networks
  • Symantec CloudSOC CASB
  • Cisco Cloudlock
  • Forcepoint CASB
  • iBoss Cloud Platform
  • Lookout CASB
  • Microsoft Defender for Cloud Apps

Report Scope

REPORT ATTRIBUTESDETAILS
STUDY PERIOD

2020-2030

BASE YEAR

2023

FORECAST PERIOD

2024-2030

HISTORICAL PERIOD

2020-2022

UNIT

Value (USD Billion)

KEY COMPANIES PROFILED

Netskope, McAfee Skyhigh Security, Zscaler, Palo Alto Networks, Symantec CloudSOC CASB, Cisco Cloudlock, Forcepoint CASB, iBoss Cloud Platform, Lookout CASB, Microsoft Defender for Cloud Apps.

SEGMENTS COVERED

By Deployment Mode, By Organization Size, By Vertical And By Geography.

CUSTOMIZATION SCOPE

Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope

 Analyst’s Take

Businesses are jumping on the cloud bandwagon like never before, which means the market for Cloud Access Security Brokers (CASBs) is about to explode. Here's whybusinesses are using more cloud-based apps than ever. And with that comes a growing worry about keeping data safe and following the rules. Plus, cybercriminals are getting smarter all the time. That's where CASBs come in. They help businesses keep their cloud environments secure. And as more people work remotely and need to connect to the cloud safely, CASBs are becoming even more essential. Market experts predict that the CASB market is going to take off. Businesses are starting to realize that protecting their cloud environments is a top priority. So, it's a great time for companies that make CASBs and for investors who want to get in on this growing market.

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