NEW YORK, March 30, 2016 /PRNewswire/ -- "Increasing adoption of cloud-based applications is a major factor driving the growth of the cloud access security brokers market"
The cloud access security brokers market size is estimated to grow from USD 3.34 billion in 2015 to USD 7.51 billion by 2020, at an estimated compound annual growth rate (CAGR) of 17.6%. The cloud access security brokers market is driven by factors, such as control data loss to enable uninterrupted business functions, real-time monitoring capabilities, and increasing adoption of cloud-based applications. "Data security solution segment to gain maximum traction during the forecast period" The data security solution is likely to have the largest market size in the cloud access security brokers market as it protects the sensitive data of the enterprise for business operations. Though, organizations are reluctant to move its confidential data on cloud due to the security and privacy concerns, the benefits that the data security solution provides outweighs the concerns of the organizations further supporting the high adoption rate of this solution segment. Threat protection solution among the solution segment is estimated to grow at a high growth rate during the forecast period.
"Support, training, and maintenance service to have high growth rate during the forecast period"
Online support, live chat, other real-time support options, and community portals are established where clients can exchange ideas with people in other organizations. Support, training and maintenance services segment provides customer support abilities to the industry verticals in case of security threats and privacy breaches. Companies actively provide online training resources such as user guides, blog articles, white papers, video instruction, and forums to their clients. Professional service would have the largest market share in the service segment from 2015 to 2020.
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key people. Break-up of profile of primary participants is as follows:
- By Company Type: Tier 1 (35%), Tier 2 (45%) and Tier 3 (20%)
- By Designation: C-level (35%), Director level (40%) and other executives (25%)
- By Region: North America (43%), Europe (33%), Asia-Pacific (APAC) (19%), and RoW (05%).
The adoption of pay-as-you-go model pricing strategy and high adoption rate in the SMBs offers cloud access security brokers vendors tremendous opportunites for the next five years. As this model provides optimum usage of resources, hence the SMB's are utilizing its benefits as they only have to pay for the services procured. Moreover, due to the lack of advanced IT skills and infrastructure among SMB's, they prefer to adopt pay-as-you-go pricing model for reducing the cost.
The major cloud access security brokers companies profiled in the report are as follows:
5. Skyhigh Networks
The report will help the market leaders/new entrants in the cloud access security brokers market in the following ways:
1. This report segments the cloud access security brokers market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the sub-segments across different end users and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes new product launches, partnerships, agreements, collaborations, venture funding and mergers and acquisitions.
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