The Worldwide Cloud Access Security Broker Industry is Expected to Reach $18 Billion by 2028 at a 17.8% CAGR

DUBLIN, Jan. 27, 2023 /PRNewswire/ -- The "Global Cloud Access Security Broker Market Size, Share & Industry Trends Analysis Report by Service Model, Solution, Organization Size (Large Enterprises and Small & Medium-sized Enterprises), Vertical, By Regional Outlook and Forecast, 2022-2028" report has been added to  ResearchAndMarkets.com's offering.

The Global Cloud Access Security Broker Market size is expected to reach $18 billion by 2028, rising at a market growth of 17.8% CAGR during the forecast period.

A cloud access security broker (CASB) is a visibility and control point that secures cloud applications. It provides data protection and threat protection services to block malware and other attacks, prevent the leakage of sensitive data, find and manage shadow IT, and maintain regulatory compliance.

CASBs could monitor traffic and user activity, automatically prohibit threats and dangerous sharing, and enforce security regulations like authentication and alerting since they are placed between cloud app customers as well as the cloud services themselves.

The requirement for visibility into shadow IT activities, the increased need for secure and compliant cloud use, and the rising popularity of cloud-based apps among small and medium-sized organizations are the main reasons driving the market for cloud access security brokers. Additionally, managing cloud protection services for businesses is difficult. Therefore, the demand for outsourcing security solutions has driven the market for cloud access security brokers even further.

The CASB approach adds an extra layer of security by extending methods of control to apps on internal networks and limiting access through zero trust. Zero-trust network connection via the cloud doesn't involve the internet. Through a cloud broker service, users can connect authenticated users to apps using this control feature.

For higher scalability, cheaper costs, and simpler management, CASB solutions are best provided as a cloud service. However, they can also be implemented as on-premises hardware or software. CASBs can be configured to employ APIs, proxying (forward or reverse proxy) or both (multimode; more on this later), depending on the form factor.

COVID-19 Impact Analysis

Due to an increase in hybrid work patterns during the COVID-19 outbreak, the use of cloud technology significantly increased, posing serious security risks. One of the markets that experienced growth was the market for cloud access security brokers, particularly during the period of COVID-19. COVID-19 forced governments to close down office buildings, enabling employees to work remotely.

This contributed to the rise in demand for cloud access security brokers, who assist businesses in protecting their data and lowering the likelihood of threats and fraud. Both small- and large-scale businesses use the covid-19 and work from home procedures to monitor their data and secure it into automatically optimized safe storage.

Market Growth Factors

Rising need to prevent vendor lock-in

There is a chance that deploying server infrastructure in the cloud will tie a customer to a specific service provider. One of the main barriers to the uptake of cloud services is frequently identified as the worry of vendor lock-ins.

Additionally, because switching to a cloud service is difficult, many consumers choose to stay with their current supplier. Vendors can prevent lock-in with the advent of multi-cloud system management due to a highly standardized cloud environment. End users must make sure that the architecture they have chosen is compatible with heterogeneous clouds in order to prevent vendor lock-in.

The data stored in the cloud can also be readily transferred to another cloud. The market has grown extremely competitive as a result of the introduction of several cloud service providers, giving end consumers a wide range of options.

Rising demand for CASB from SMEs

As more and more small businesses reap the benefits of cloud-based solutions, the use of the cloud among small and mid-sized enterprises is rising daily. Cloud-based solutions help SMEs with a variety of issues, including improved IT operations and lower IT expenditures.

The public cloud has recently grown in favor among SMEs. In contrast to large businesses, SMEs are embracing public cloud technology more quickly. Through the internal enablement model, the market for external cloud brokers, including telecom providers is growing rapidly in the SMEs category for cloud providers.

Owing to this, the demand for cloud access security broker would increase from the SMEs over the course of the projection period.

Marketing Restraining Factor:

Issues with regulatory compliance

Financial services, healthcare, the public sector, and telecommunications are just a few of the areas that companies that provide services on the cloud platform work with. Businesses could suffer from changing adverse industry-specific rules, regulations, interpretive stances, or standards.

Customers' use and acceptance of solutions & services may be constrained, hence decreasing demand, due to the costs of compliance and other restrictions imposed by laws, regulations, and interpretation stances that are specific to the industry. In order to comply with these laws, service providers could need to devote a lot of resources to support specific clients, which would raise costs and delay sales cycles. All these elements may hamper the cloud access security broker market.

Key Topics Covered:

Chapter 1. Market Scope & Methodology

Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints

Chapter 3. Competition Analysis - Global
3.1 The Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.3.2 Key Strategic Move: (Acquisitions and Mergers : 2018, Jan - 2022, Jun) Leading Players

Chapter 4. Global Cloud Access Security Broker Market by Service Model
4.1 Global Software as a Service Market by Region
4.2 Global Infrastructure as a Service Market by Region
4.3 Global Platform as a Service Market by Region

Chapter 5. Global Cloud Access Security Broker Market by Solution
5.1 Global Data Security Market by Region
5.2 Global Risk & Compliance Management Market by Region
5.3 Global Control & Monitoring Cloud Services Market by Region
5.4 Global Threat Protection Market by Region
5.5 Global Others Market by Region

Chapter 6. Global Cloud Access Security Broker Market by Organization Size
6.1 Global Large Enterprises Market by Region
6.2 Global Small & Medium-sized Enterprises Market by Region

Chapter 7. Global Cloud Access Security Broker Market by Vertical
7.1 Global IT & Telecom Market by Region
7.2 Global BFSI Market by Region
7.3 Global Healthcare Market by Region
7.4 Global Retail & Consumer Goods Market by Region
7.5 Global Government Market by Region
7.6 Global Manufacturing Market by Region
7.7 Global Education Market by Region
7.8 Global Others Market by Region

Chapter 8. Global Cloud Access Security Broker Market by Region

Chapter 9. Company Profiles
9.1 Microsoft Corporation
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental and Regional Analysis
9.1.4 Research & Development Expenses
9.1.5 SWOT Analysis
9.2 Broadcom, Inc.
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Segmental and Regional Analysis
9.2.4 Research & Development Expense
9.2.5 Recent Strategies and Developments
9.2.5.1 Partnerships, Collaborations, and Agreements
9.2.6 SWOT Analysis
9.3 Forcepoint LLC (Francisco Partners)
9.3.1 Company Overview
9.3.2 Recent Strategies and Developments
9.3.2.1 Product Launches and Product Expansions
9.3.2.2 Acquisition and Mergers
9.4 McAfee Corp.
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Regional Analysis
9.4.4 Research & Development Expenses
9.4.5 Recent Strategies and Developments
9.4.5.1 Product Launches and Product Expansions
9.4.5.2 Acquisition and Mergers
9.5 Lookout, Inc.
9.5.1 Company Overview
9.5.2 Recent Strategies and Developments
9.5.2.1 Partnerships, Collaborations, and Agreements
9.5.2.2 Acquisition and Mergers
9.6 Netskope, Inc.
9.6.1 Company Overview
9.6.2 Recent Strategies and Developments
9.6.2.1 Partnerships, Collaborations, and Agreements
9.7 Proofpoint, Inc.
9.7.1 Company Overview
9.7.2 Recent Strategies and Developments
9.7.2.1 Partnerships, Collaborations, and Agreements
9.7.2.2 Acquisition and Mergers
9.8 Imperva, Inc.
9.8.1 Company Overview
9.8.2 Recent Strategies and Developments
9.8.2.1 Acquisition and Mergers
9.9 CensorNet Ltd.
9.9.1 Company Overview
9.9.2 Recent Strategies and Developments
9.9.2.1 Product Launches and Product Expansions
9.10. iboss, Inc.
9.10.1 Company Overview

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