Cloud Access Security Broker (CASB) Market Dynamics 2031
The Cloud Access Security Broker (CASB) Market is expected to register a CAGR of 14.2% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Solution (Data Security, Control and Monitoring Cloud Services, Threat Protection, Risk and Compliance Management, Others). The report further presents analysis based on the Services (Professional Services, Support, Training, and Maintenance). The report further presents analysis based on the Service Model (Platform as a Service, Infrastructure as a Service, Software as a Service). The report further presents analysis based on the Organization Size (Small and Medium Enterprises and Large Enterprises). The report further presents analysis based on the End User (BFSI, Government, Healthcare, Manufacturing, Retail & Consumer Goods, IT & Telecommunication, Education, Others). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Cloud Access Security Broker (CASB) Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Cloud Access Security Broker (CASB) Market Segmentation
Solution- Data Security
- Control and Monitoring Cloud Services
- Threat Protection
- Risk and Compliance Management
- Professional Services
- Support
- Training
- Maintenance
- Platform as a Service
- Infrastructure as a Service
- Software as a Service
- Small and Medium Enterprises
- Large Enterprises
- BFSI
- Government
- Healthcare
- Manufacturing
- Retail & Consumer Goods
- IT & Telecommunication
- Education
Strategic Insights
Cloud Access Security Broker (CASB) Market Growth Drivers- Increased Adoption of Cloud Services: The rapid migration of businesses to cloud-based services is a significant driver for the CASB market. As organizations increasingly rely on cloud platforms for data storage, collaboration, and applications, they face heightened security risks. CASBs provide essential security measures, including data encryption, threat detection, and access control, that help organizations manage and protect sensitive information in the cloud. This growing reliance on cloud solutions necessitates robust security frameworks, propelling the demand for CASB solutions.
- Regulatory Compliance and Data Protection Requirements: With the rise of data privacy regulations such as GDPR, HIPAA, and CCPA, companies are under pressure to ensure compliance with stringent data protection laws. CASBs play a critical role in helping organizations meet these compliance requirements by offering tools for data governance, audit trails, and real-time monitoring of cloud activities. As businesses strive to avoid hefty fines and reputational damage from non-compliance, the demand for CASB solutions is expected to grow significantly.
- Heightened Cybersecurity Threats: The increasing frequency and sophistication of cyber threats, including data breaches and ransomware attacks, are driving the need for enhanced security measures in cloud environments. CASBs provide a vital layer of security by enabling organizations to monitor user activities, detect anomalies, and enforce security policies across various cloud services. As organizations seek to safeguard their data against evolving threats, the demand for CASB solutions continues to rise, making it a key driver in the market.
- Expansion of the Remote Workforce: The shift towards remote work has created new security challenges that organizations must address. CASBs present a significant opportunity to provide secure access to cloud applications and data for remote employees. By implementing CASB solutions, companies can ensure that their remote workforce can work securely, regardless of location, while maintaining compliance with security policies. This expansion of remote workforces necessitates increased investment in CASB solutions, creating growth opportunities within the market.
- Growing Importance of Data Privacy and Protection: As data privacy becomes a top priority for organizations worldwide, there is a substantial opportunity for CASB providers to offer tailored solutions that address specific data protection needs. Businesses are increasingly seeking CASB solutions that provide advanced data loss prevention (DLP) capabilities, encryption, and compliance features to protect sensitive information stored in the cloud. This focus on data privacy creates avenues for CASB companies to innovate and develop specialized offerings that cater to various industry requirements.
- Investments in Cloud Security Startups: The CASB market is witnessing a surge in investments in cloud security startups, driven by the increasing demand for innovative security solutions. Venture capitalists and private equity firms are recognizing the potential of CASB technologies and are investing in startups that focus on enhancing cloud security capabilities. This trend presents opportunities for collaboration, mergers, and acquisitions, as established companies seek to integrate cutting-edge technologies and expertise from startups, further fueling growth in the CASB market.
- Integration of Artificial Intelligence and Machine Learning: One of the prominent trends in the CASB market is the integration of artificial intelligence (AI) and machine learning (ML) technologies. These advanced tools enhance the capabilities of CASBs by enabling more accurate threat detection, anomaly identification, and automated responses to security incidents. AI and ML can analyze vast amounts of data in real time, helping organizations respond to potential threats more swiftly and effectively. As these technologies evolve, their adoption within CASB solutions is set to increase.
- Focus on Zero Trust Security Models: The adoption of zero trust security models is gaining traction within organizations, further influencing the CASB market. Zero trust principles dictate that no user or device should be trusted by default, thus requiring continuous verification of identity and access permissions. CASBs support this model by providing granular access controls, real-time visibility, and continuous monitoring of user behavior across cloud applications. This shift towards zero trust frameworks is driving organizations to seek out CASB solutions that align with these security principles.
- Rising Demand for Multi-Cloud Security Solutions: As organizations increasingly adopt multi-cloud strategies to leverage the benefits of various cloud providers, the demand for CASB solutions that offer multi-cloud security capabilities is on the rise. Companies are looking for comprehensive security solutions that can provide consistent visibility, policy enforcement, and compliance across different cloud environments. This trend underscores the importance of CASBs in managing security challenges associated with multi-cloud architectures, driving innovation and development in this area.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Cloud Access Security Broker (CASB) Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Cloud Access Security Broker (CASB) Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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Frequently Asked Questions
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
The leading players operating in the Cloud Access Security Broker (CASB) Market include Microsoft Corporation, Censornet, Broadcom Corporation, Forcepoint, Iboss, Lookout, Inc., McAfee, LLC, Netskope, Proofpoint, Inc., Bitglass, Inc.
The global Cloud Access Security Broker (CASB) Market is expected to grow at a CAGR of 14.2% during the forecast period 2024 - 2031.
The major factors driving the Cloud Access Security Broker (CASB) Market are: Increased Adoption of Cloud Services, Regulatory Compliance and Data Protection Requirements, and Heightened Cybersecurity Threats.
Integration of Artificial Intelligence and Machine Learning, Focus on Zero Trust Security Models, and Rising Demand for Multi-Cloud Security Solutions are the key future trends of the Cloud Access Security Broker (CASB) Market
Some of the customization options available based on the request are an additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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