Cloud Access Security Broker (CASB) Market Forecast Report 2031

 

The market size is expected to grow to expand at a CAGR of 12.3% from 2023 to 2031. Increasing cyber-attacks against cloud systems are expected to create lucrative opportunities for the cloud access security brokers market.

Cloud Access Security Broker (CASB) Market Analysis

The Cloud Access Security Broker (CASB) market forecast is estimated on the basis of various secondary and primary research findings, such as key company publications, association data, and databases. The need for cloud access security broker solutions has been growing over the last few years due to the expansion of cloud applications in contemporary businesses and the growing reliance of these businesses on digital platforms. As a result, the market is predicted to sustain this trend in the years to come. Furthermore, the increasing global internet penetration is expected to create new growth prospects for the cloud access security broker markets.

Cloud Access Security Broker (CASB)

Market Overview

• A crucial component of every organization's cybersecurity infrastructure is the cloud access security broker, or CASB. Businesses that use cloud apps for storage, communication, and productivity face difficulties due to the particular security needs of cloud computing. Many of these issues are resolved by using a CASB, which offers unparalleled security, visibility, and control over behavior within well-known cloud apps.
• The market is expanding dramatically due to the rise in the use of different cloud-based services, rising data security concerns, and rising need for integrated security solutions. Further, the implementation of artificial intelligence (AI) and machine learning (ML) ensures optimal operational capability through multi-cloud management and subsidizes market growth.

Cloud Access Security Broker (CASB) Market Driver

Growing cloud and digitization trends to Drive Cloud Access Security Broker (CASB) Market Growth

• The need for cloud access security broker solutions has been growing over the last few years due to the expansion of cloud applications in contemporary businesses and the growing reliance of these businesses on digital platforms. As a result, the market is predicted to sustain this trend in the years to come. Furthermore, the increasing global internet penetration is expected to create new growth prospects for the cloud access security broker markets.
• As businesses require visibility and control across both managed and unmanaged cloud services, they are increasingly turning to assist in addressing some of the biggest risks associated with cloud services, enforcing security rules, and adhering to regulations. Furthermore, a number of important companies launched services to guarantee cloud data security for example. To protect company apps and data in the cloud, Atos introduced a new cloud access security broker solution in November 2021 that makes use of McAfee Sky-high Security cloud. It enables businesses to provide threat prevention, policy enforcement, and data protection while enabling staff members to interact and communicate in a contemporary work environment. The Cloud Access Security Broker (CASB) market is expanding as a result of these causes. Such factors are supporting the growth of the Cloud Access Security Broker (CASB) market..

Cloud Access Security Broker (CASB)

Market Report Segmentation Analysis

• Based on solutions, the market is segmented into risk and compliance management, data security, control and monitoring cloud services, threat protection, and others. The data security segment accounted for the principal revenue share in 2023.
• Based on organization size the small and medium enterprises (SMEs) segment is projected to grow at a sizable rate during the forecast period. The major driver behind the segment growth is the swelling need for cloud access security brokers in small and medium-sized businesses.
• The software-as-a-service segment accounted for the largest Cloud Access Security Broker (CASB) market share in 2023. The ease of setting up software-as-a-service cloud storage solutions and cloud service providers' continued use of cloud-based applications are two factors that contribute to the high adoption of software-as-a-service among the service model. Software as a Service is also driven by scalability, lower costs, faster deployment, and mobility. Solutions for cloud access security brokers are, therefore, in huge demand.

Cloud Access Security Broker (CASB)

Market Regional Analysis

The scope of the Cloud Access Security Broker (CASB) market report is primarily divided into five regions - North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is observing rapid growth and is expected to hold a noteworthy Cloud Access Security Broker (CASB) market share in 2023. The cloud access security broker solutions market is increasing in this region due to growing concerns about data security from fraud and data breaches. High levels of competition and the emergence of new private companies are further factors in this region's rapid growth in cloud access security broker solutions. Furthermore, US organizations are using cloud solutions in order to maintain business continuity, prevent misconfiguration, and maintain operational functionality. Companies are gradually implementing data encryption, data loss prevention, data threat protection, and data integrity monitoring as cloud data security techniques, which are also propelling market expansion.

Cloud Access Security Broker (CASB)

Market Report Scope

The "Cloud Access Security Broker (CASB) Market Analysis" was carried out based on card type and geography. By Solution, the market is segmented into risk and compliance management, control and monitoring cloud services, threat protection, data security, and others.  Based on services, the market is divided into professional services, support, training, and maintenance. By service model, the market is segmented into platform as a service, infrastructure as a service, and software-as-a-service. By organization size, the market is segmented into large enterprises and small and medium enterprises. By end user, the market is segmented into BFSI, IT & Telecommunication, government, healthcare, retail & consumer goods, manufacturing, education, and Others. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

Cloud Access Security Broker (CASB)

Market News and Recent Developments

Companies adopt inorganic and organic strategies such as mergers and acquisitions in the cloud access security broker (CASB) market. A few recent key market developments are listed below:

• April 2022 - Forcepoint ONE Expands FedRAMP Authorization for CASB to include Zero Trust Network Access (ZTNA) and Secure Web Gateway (SWG) to provide a Single Security Service Edge platform. All federal agencies can thus simplify the overall security and access the Forcepoint ONE SSE architecture for integrated CASB, SWG, and ZTNA. ((Source: Forcepoint ONE, Press Release, 2022)

Cloud Access Security Broker (CASB)

Market Report Coverage & Deliverables

The market report "Cloud Access Security Broker (CASB) Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering below areas-

• Market size & forecast at global, regional, and country levels for all the key market segments covered under the scope.
• Market dynamics such as drivers, restraints, and key opportunities.
• Key future trends.
• Detailed PEST & SWOT analysis
• Global and regional market analysis covering key market trends, key players, regulations, and recent market developments.
• Industry landscape and competition analysis covering market concentration, heat map analysis, key players, and recent developments.
• Detailed company profiles.

Cloud Access Security Broker (CASB) Report Scope