A Cloud Access Security Broker (CASB) enforces an organization's security standards for cloud application access and usage by serving as an intermediary between cloud providers and cloud customers. Moreover, CASBs have become a vital part of enterprise security, allowing businesses to safely use the cloud while protecting sensitive corporate data.
The rise in demand for work-from-home and remote working policies during the period of the COVID-19 pandemic aided in propelling the demand for cloud and security solutions, hence empowering the growth of the cloud access security broker industry. However, higher installation costs and maintenance challenges of cloud access security broker platforms can hamper the cloud access security broker market forecast. On the contrary, the integration of advanced technologies such as machine learning and data analytics with cloud access security broker solutions suites is expected to offer remunerative opportunities for the expansion of the cloud access security broker industry during the forecast period.
The cloud access security broker market is segmented on the basis of component, enterprise size, application area, industry vertical, and region. On the basis of components, the industry is divided into solutions and services. Based on enterprise size, the market is bifurcated into large enterprises and SMEs. Depending on application area, the market is classified into governance, risk, and compliance, data security, application security, and others. The industry vertical covered in the study include IT and telecom, BFSI, healthcare, government and public sector, retail, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global cloud access security broker market is dominated by key players such as Broadcom Inc., Cisco Systems, Inc., iboss Cybersecurity, Lookout, Microsoft Corporation, Netskope, Palo Alto Networks Inc, Proofpoint Inc, Skyhigh Networks, and Zscaler, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
The rise in demand for work-from-home and remote working policies during the period of the COVID-19 pandemic aided in propelling the demand for cloud and security solutions, hence empowering the growth of the cloud access security broker industry. However, higher installation costs and maintenance challenges of cloud access security broker platforms can hamper the cloud access security broker market forecast. On the contrary, the integration of advanced technologies such as machine learning and data analytics with cloud access security broker solutions suites is expected to offer remunerative opportunities for the expansion of the cloud access security broker industry during the forecast period.
The cloud access security broker market is segmented on the basis of component, enterprise size, application area, industry vertical, and region. On the basis of components, the industry is divided into solutions and services. Based on enterprise size, the market is bifurcated into large enterprises and SMEs. Depending on application area, the market is classified into governance, risk, and compliance, data security, application security, and others. The industry vertical covered in the study include IT and telecom, BFSI, healthcare, government and public sector, retail, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global cloud access security broker market is dominated by key players such as Broadcom Inc., Cisco Systems, Inc., iboss Cybersecurity, Lookout, Microsoft Corporation, Netskope, Palo Alto Networks Inc, Proofpoint Inc, Skyhigh Networks, and Zscaler, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the global cloud access security broker market forecast along with the current & future trends to explain the imminent investment pockets.
- Information about key drivers, restraints, & opportunities and their impact analysis on global cloud access security broker market trends is provided in the report.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the market from 2022 to 2031 is provided to determine the market potential.
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Key Market Segments
By Component
- Solution
- Services
By Enterprise Size
- Large Enterprise
- SMEs
By Application Areas
- Governance, Risk, and Compliance
- Data Security
- Application Security
- Others
By Industry Vertical
- IT and Telecom
- BFSI
- Healthcare
- Government and Public Sector
- Retail
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
- Key Market Players
- Netskope
- Skyhigh Networks
- Zscaler, Inc.
- Cisco Systems, Inc.
- Palo Alto Networks Inc
- Microsoft Corporation
- Lookout
- Proofpoint Inc
- Broadcom Inc.
- iboss Cybersecurity
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: CLOUD ACCESS SECURITY BROKER MARKET, BY COMPONENT
CHAPTER 5: CLOUD ACCESS SECURITY BROKER MARKET, BY ENTERPRISE SIZE
CHAPTER 6: CLOUD ACCESS SECURITY BROKER MARKET, BY APPLICATION AREAS
CHAPTER 7: CLOUD ACCESS SECURITY BROKER MARKET, BY INDUSTRY VERTICAL
CHAPTER 8: CLOUD ACCESS SECURITY BROKER MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the cloud access security broker market was valued at $6.8 billion in 2021, and is estimated to reach $37.2 billion by 2031, growing at a CAGR of 18.8% from 2022 to 2031.Cloud access security brokers are on-premises, or cloud-based vulnerability management enforcement nodes, positioned between cloud service consumers and cloud service providers to integrate and interject enterprise security policies as the cloud-based resources are accessed. These systems combine many forms of security policy enforcement, such as authentication, single sign-on, authorization, credential mapping, device profiling, encryption, tokenization, logging, alerting, malware detection/prevention, and other security rules.
Key factors driving the growth of the cloud access security broker market include the growing trend of cloud & digitalization and the increase in cyber-security. With the rising number of cyber threats and growing market competition in modern-day business enterprises, cloud access security brokers are becoming one of the most crucial and fastest-growing security technologies today because they provide cloud service visibility, data security, threat protection, and compliance. Cloud access security brokers are an effective and easy way to mitigate the top cloud security threats. Security practitioners look to trusted cloud access security broker providers as strategic partners to help advise them on key cloud security decisions. When sensitive content is discovered in or en-route to the cloud, the cloud access security broker can allow IT teams the option to manage suspected violations efficiently to their local networks for further analysis. Moreover, deeper research on threat observations aids a company in identifying and stopping malicious activity before it escalates further. Such factors are propelling the growth of the cloud access security broker market.
The market also offers growth opportunities to the key players in the market. As more organizations move to the cloud, they need to be proactive in securing their cloud applications, and cloud access security brokers can provide a comprehensive level of visibility, compliance, and data security for the cloud transformation of the organization. With the explosive rate of enterprises moving toward the use of cloud service providers (CSPs), organizations are seeking new methods and best practices to implement security controls in cloud environments. Many organizations have already securely and successfully migrated their productivity suites and web applications. Now they are moving their business-critical and highly sensitive systems, including HR applications, customer relationship management systems, and enterprise resource planning (ERP) software to the cloud. In addition, many key players are enhancing their services to provide security for sensitive enterprise information.
Depending on the industry vertical, the IT and telecom segment dominated the cloud access security broker market share in 2021, and is expected to continue this trend during the forecast period owing to the growing cloud participation of IT and telecom sector companies, incentivizing major businesses of the sector to invest in effective cloud access security broker solutions for their organization. However, the healthcare segment is expected to witness the highest growth in the upcoming years, owing to the rising security standards and government regulatory policies being implemented in the sector.
The cloud access security broker market is segmented into component, enterprise size, application area, industry vertical and region. Based on component, the market is categorized into solution and services. Based on enterprise size, the market is bifurcated into large enterprises and small & medium-sized enterprises (SMEs). On the basis of application area, the market can be segmented into governance, risk, and compliance, data security, application security, and others. Based on industry vertical the cloud access security broker market can be segregated into IT & telecom, BFSI, healthcare, government & public sector, retail and others. Region-wise, it is analyzed across North America (the U.S. and Canada), Europe (UK, Germany, France, Spain, Italy and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and the rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The key players profiled in the study include Broadcom Inc., Cisco Systems, Inc., iboss Cybersecurity, Lookout, Microsoft Corporation, Netskope, Palo Alto Networks Inc, Proofpoint Inc, Skyhigh Networks, and Zscaler, Inc. The players in the market have been actively engaged in the adoption of various strategies such as partnerships, product launches, and acquisitions to remain competitive and gain an advantage over the competitors in the market.
Key Market Insights
By component, the solution segment is estimated to grow with 23% CAGR by 2031. However, the services segment is expected to continue its dominance, during the forecast period.By enterprise size, the large enterprises segment, is the highest revenue contributor with 18% CAGR. However, the SMEs is the fastest-growing segment, during the forecast period.
By application area, governance, risk, and compliance is the dominating segment, with an impressive CAGR of 19%, during the forecast period.
Based on the industry vertical, healthcare is the fastest-growing segment, with an impressive CAGR of 23% during the forecast period.
Based on region, Asia-Pacific is the dominating segment and is expected to continue its dominance with a significant CAGR of 18%, during the forecast period.
Companies Mentioned
- Netskope
- Skyhigh Networks
- Zscaler, Inc.
- Cisco Systems, Inc.
- Palo Alto Networks Inc
- Microsoft Corporation
- Lookout
- Proofpoint Inc
- Broadcom Inc.
- iboss Cybersecurity
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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