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.
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.
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.
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.
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.
Based on solution, the cloud access security broker market is segmented into control & monitoring cloud services, risk & compliance management, data security, threat protection and others. In 2021, the data security segment dominated the cloud access security broker market with the maximum revenue share. Many causes, including the mobility of data through cloud services, contribute to the segment's growth. This complicates decisions regarding how to strike a balance between business needs and rising risks in order to offer proper security compliance and prevent data loss. When a company uses the cloud, regardless of the device, cloud access security brokers also serve as a policy enforcement center, implementing various security policies for that company.
On the basis of service model, the cloud access security broker market is fragmented into infrastructure as a service, platform as a service and software as a service. The platform as a service segment covered a significant revenue share in the cloud access security broker market in 2021. Due to factors including SMEs increasingly utilizing cloud-based services, needs for cost and time savings, and delivering data agility & enterprise cloud services to support all devices, the platform as a service is predicted to expand at a rapid rate.
By enterprise size, the cloud access security broker market is divided into large enterprises, small & medium enterprises (SMEs). The small & medium enterprise segment garnered a substantial revenue share in the cloud access security broker market in 2021. The growing demand for cloud access security brokers in SMEs is the main factor driving the market's expansion in this segment. Since they lack cloud storage support, many small firms use third-party cloud support services.
On the basis of end-use, the cloud access security broker market is classified into BFSI, government, healthcare, IT & telecom, manufacturing, retail & consumer goods, education, and others. In 2021, the IT & telecom segment registered the highest revenue share in the cloud access security broker market. Solutions for cloud access security brokers are increasingly in demand in this industry. The need for cloud access security is growing as more enterprises migrate to cloud services. In addition, the telecom industry is regarded as one of the most exposed to cyberattacks.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 5.8 Billion |
| Market size forecast in 2028 | USD 18 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 17.8% from 2022 to 2028 |
| Number of Pages | 298 |
| Number of Tables | 503 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Service Model, Solution, Organization Size, Vertical, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region wise, the cloud access security broker market is analyzed across North America, Europe, Asia Pacific and LAMEA. The North America region led the cloud access security market by generating the highest revenue share in 2021. Adoption of cloud access security broker solutions in the North America region is being driven by escalating worries about data security from fraud & data breaches. The rapid expansion of the market is also being fueled by fierce rivalry and new private companies.
Free Valuable Insights: Global Cloud Access Security Broker Market size to reach USD 18 Billion by 2028
The major strategies followed by the market participants are Acquisitions. Based on the Analysis presented in the Cardinal matrix. Microsoft Corporation is the major forerunner in the Cloud Access Security Broker Market. Companies such as Broadcom Inc., McAfee Corp., Lookout, Inc. are some of the key innovators in Cloud Access Security Broker Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Imperva, Inc., Broadcom Inc., Censornet Ltd., Forcepoint LLC, Iboss, Inc., Lookout, Inc., McAfee Corp., Microsoft Corporation, Netskope, Inc., and Proofpoint, Inc.
By Service Model
By Solution
By Organization Size
By Vertical
By Geography
The global Cloud Access Security Broker Market size is expected to reach $18 billion by 2028.
Rising need to prevent vendor lock-in are driving the market in coming years, however, Issues with regulatory compliance restraints the growth of the market.
Imperva, Inc., Broadcom Inc., Censornet Ltd., Forcepoint LLC, Iboss, Inc., Lookout, Inc., McAfee Corp., Microsoft Corporation, Netskope, Inc., and Proofpoint, Inc.
The Large Enterprises market acquired the maximum revenue share in the Global Cloud Access Security Broker Market by Organization Size in 2021, thereby, achieving a market value of $11.4 billion by 2028.
The Software as a Service market dominated the Global Cloud Access Security Broker Market by Service Model in 2021, thereby, achieving a market value of $8.5 billion by 2028.
The North America market dominated the Global Cloud Access Security Broker Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $7.2 billion by 2028.
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