Cloud Access Security Broker Market Size, Share, Opportunities, And Trends By Deployment Type (On-Premise, Cloud-Based), By Enterprise Size (Small, Medium, Large), By End-User (BFSI, IT & Telecommunication, Government, Healthcare, Others), And By Geography - Forecasts From 2024 To 2029

  • Published : Mar 2024
  • Report Code : KSI061616251
  • Pages : 145

The cloud access security broker market is expected to grow at a CAGR of 17.80% reaching a market size of US$50.223 billion in 2029 from US$15.953 billion in 2022.

The primary drivers of this market's growth are the ease with which job tasks can be completed through shadow IT operations, the growing necessity for cloud computing, and the proliferation of cloud-based applications in small and medium-sized enterprises. Furthermore, internalizing information technology security is expensive, which is why outsourcing cloud security services has emerged as a popular trend and is propelling the market's expansion.

Furthermore, by facilitating multi-cloud management, the use of AI and machine learning guarantees optimal operational capability and fosters market expansion. bringing about more security issues and favourably impacting cloud access security brokers. Moreover, the market for cloud security has been stimulated by the increase in cyberattacks targeting cloud systems.

cloud access security broker market

Increasing adoption of cloud services

Cloud access security brokers are a vital tool for businesses that rely on cloud services as they provide a centralized solution for implementing security policies and compliance requirements across multiple cloud-based services. The shift in cloud-based solutions has increased the cloud access security broker adoption, as organizations understand the importance of data security and compliance in cloud environments. For instance, in November 2023, Alibaba Cloud released the availability of salesforce sales Cloud, and service cloud on Alibaba Cloud. It changes the way service teams provide value to customers at every touchpoint, including customer experience, engagement, processes, automation, and service operations systems, as well as pre-built merged applications, and ticket administration.

Rising need for cybersecurity

Many businesses outsource security services due to the growing need for cyber security, threat management, intrusion detection, and business protection. The growth of the cloud access security broker market is also being driven by other factors, such as web application security for access to the best tools in the security domain, continuous vulnerability assessment options, and cost-effectiveness due to the high cost of in-house security. To concentrate on their primary business operations, many organizations are choosing to outsource security services. For example, in November 2022, Atos, a provider of high-performance computing and IT infrastructure, and Amazon Web Services, Inc. worked together to complete the digital transformation of Atos customers who had large-scale infrastructure outsourcing contracts by increasing workload migrations to the cloud.

Booming user experience enhancement

A cloud access security broker (CASB) can enhance the user experience by offering secure and compliant access to cloud services, allowing companies to gain the benefits of cloud computing without compromising security. Cloud access security broker acts as a connection point between on-premises security and cloud-based services that enhance user security and experience owing to which multiple organizations are adopting CASB solutions.

Rising adoption of Software as a Service

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 in 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 great demand. Artificial intelligence also improves the SaaS model's essential features while upending it in a few different ways. Businesses can augment human capabilities, enhance security, better leverage data, and customize services by combining SaaS and AI.

North America is witnessing exponential growth during the forecast period

Due to the region's rapid expansion in the use of cloud services and growing concerns about data security, North America is anticipated to hold a significant portion of the market for cloud access security brokers. The United States and Canada, two significant North American countries, are investing to support their cybersecurity initiatives. To guarantee that every American reaps the benefits of a secure and encrypted digital ecosystem, the Biden-Harris Administration, for example, released the National Cybersecurity Strategy in March 2023. Additionally, the administration's bipartisan infrastructure act included a $1 billion investment to improve cybersecurity for local, state, tribal, and territory governments.

Product Offerings

  • Forcepoint ONE Cloud Access Security Broker- The Forcepoint ONE Cloud Access Security Broker (CASB) manages permissions for managed SaaS applications and shadow IT applications while also providing DLP and protection against malware. It also has auto-scaling and over 300 points of presence on AWS, which reduces latency and increases throughput, and an Active Directory sync agent, which speeds up user onboarding.
  • Cisco Cloudlock- Cisco Cloudlock is a cloud-based cloud access security broker (CASB) that helps in the secure transition to the cloud. It safeguards cloud users, data, and applications. Cloudlock's simple, open, and automated tackle uses APIs to manage threats in your cloud app environment. Cloudlock makes it easier to defend against data breaches while complying with regulations.
  • Oracle CASB Cloud Service- Oracle CASB Cloud Service provides automated security monitoring for your entire cloud footprint. It simplifies and stops configuration drift, detects unusual activity with user behavior analytics, and protects against threats that involve multiple cloud services.

Market key launches

  • In February 2023, Skyhigh Security announced that its Skyhigh Security Service Edge portfolio had successfully completed the assessment process for the Australian Information Security Registered Assessors Program, earning a security classification of PROTECTED. The federal government's adoption of Skyhigh Security is furthered by the latest assessment, which places Skyhigh Cloud Access Security Broker (CASB) at the PROTECTED level. The evaluation provides public sector organizations with the reassurance that highly sensitive data and infrastructures for Australian government agencies are managed with appropriate and effective security controls thanks to Skyhigh Security's robust data-aware cloud security technology suite.
  • In September 2022, to offer a Single Security Service Edge platform, Forcepoint ONE Expands FedRAMP Authorization for CASB to include Zero Trust Network Access (ZTNA) and Secure Web Gateway (SWG). As a result, all federal agencies can access the Forcepoint ONE SSE architecture for integrated SWG, CASB, and ZTNA, and simplify overall security. Forcepoint ONE is Security Service Edge's unified, cloud-delivered platform that safeguards contractors and agency staff who work remotely and use private, public, and cloud apps.

Cloud Access Security Broker Market Scope:

 

Report Metric Details
Market Size Value in 2022 US$15.953 billion
Market Size Value in 2029 US$50.223 billion
Growth Rate CAGR of 17.80% from 2022 to 2029
Base Year 2022
Forecast Period 2024 – 2029
Forecast Unit (Value) USD Billion
Segments Covered
  • Deployment Type
  • Enterprise Size
  • End-User
  • Geography
Companies Covered
  • Forcepoint
  • Microsoft
  • Cisco
  • Netskope Inc.
  • Versa Networks Inc.
  • And more
Regions Covered North America, South America, Europe, Middle East and Africa, Asia Pacific
Customization Scope Free report customization with purchase

 

Segmentation:

  • By Deployment Type
    • On-Premise
    • Cloud-Based
  • By Enterprise Size
    • Small
    • Medium
    • Large
  • By End-User
    • BFSI
    • IT & Telecommunication
    • Government
    • Healthcare
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • UK
      • France
      • Spain   
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Others
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • India
      • Australia
      • Others
 

Frequently Asked Questions (FAQs)

Cloud Access Security Broker Market was valued at US$15.953 billion in 2022.
The cloud access security broker market is projected to reach a market size of US$50.223 billion by 2029.
The global cloud access security broker market is projected to grow at a CAGR of 17.80% during the forecast period.
North America is anticipated to hold a significant share of the cloud access security broker market.
The increasing adoption of cloud services across industries, coupled with growing concerns about data security and compliance, is anticipated to be a major factor driving the growth of the cloud access security broker market.

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

1.8. Key Benefits to the Stakeholder

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Processes

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

4.5. Analyst View

5. CLOUD ACCESS SECURITY BROKER MARKET, BY DEPLOYMENT TYPE

5.1. Introduction

5.2. On-Premise

5.2.1. Market Trends and Opportunities

5.2.2. Growth Prospects

5.2.3. Geographic Lucrativeness

5.3. Cloud-based

5.3.1. Market Trends and Opportunities

5.3.2. Growth Prospects

5.3.3. Geographic Lucrativeness

6. CLOUD ACCESS SECURITY BROKER MARKET, BY ENTERPRISE SIZE

6.1. Introduction

6.2. Small

6.2.1. Market Trends and Opportunities

6.2.2. Growth Prospects

6.2.3. Geographic Lucrativeness

6.3. Medium

6.3.1. Market Trends and Opportunities

6.3.2. Growth Prospects

6.3.3. Geographic Lucrativeness

6.4. Large

6.4.1. Market Trends and Opportunities

6.4.2. Growth Prospects

6.4.3. Geographic Lucrativeness

7. CLOUD ACCESS SECURITY BROKER MARKET, BY END-USER

7.1. Introduction

7.2. BFSI

7.2.1. Market Trends and Opportunities

7.2.2. Growth Prospects

7.2.3. Geographic Lucrativeness

7.3. IT & Telecommunication

7.3.1. Market Trends and Opportunities

7.3.2. Growth Prospects

7.3.3. Geographic Lucrativeness

7.4. Government

7.4.1. Market Trends and Opportunities

7.4.2. Growth Prospects

7.4.3. Geographic Lucrativeness

7.5. Healthcare

7.5.1. Market Trends and Opportunities

7.5.2. Growth Prospects

7.5.3. Geographic Lucrativeness

7.6. Others

7.6.1. Market Trends and Opportunities

7.6.2. Growth Prospects

7.6.3. Geographic Lucrativeness

8. CLOUD ACCESS SECURITY BROKER MARKET, BY GEOGRAPHY

8.1. Introduction

8.2. North America

8.2.1. By Deployment Type

8.2.2. By Enterprise Size

8.2.3. By End-User

8.2.4. By Country

8.2.4.1. USA

8.2.4.1.1. Market Trends and Opportunities

8.2.4.1.2. Growth Prospects

8.2.4.2. Canada

8.2.4.2.1. Market Trends and Opportunities

8.2.4.2.2. Growth Prospects

8.2.4.3. Mexico

8.2.4.3.1. Market Trends and Opportunities

8.2.4.3.2. Growth Prospects

8.3. South America

8.3.1. By Deployment Type

8.3.2. By Enterprise Size

8.3.3. By End-User

8.3.4. By Country 

8.3.4.1. Brazil

8.3.4.1.1. Market Trends and Opportunities

8.3.4.1.2. Growth Prospects

8.3.4.2. Argentina

8.3.4.2.1. Market Trends and Opportunities

8.3.4.2.2. Growth Prospects

8.3.4.3. Others

8.3.4.3.1. Market Trends and Opportunities

8.3.4.3.2. Growth Prospects

8.4. Europe

8.4.1. By Deployment Type

8.4.2. By Enterprise Size

8.4.3. By End-User

8.4.4. By Country

8.4.4.1. Germany

8.4.4.1.1. Market Trends and Opportunities

8.4.4.1.2. Growth Prospects

8.4.4.2. UK

8.4.4.2.1. Market Trends and Opportunities

8.4.4.2.2. Growth Prospects

8.4.4.3. France

8.4.4.3.1. Market Trends and Opportunities

8.4.4.3.2. Growth Prospects

8.4.4.4. Spain

8.4.4.4.1. Market Trends and Opportunities

8.4.4.4.2. Growth Prospects

8.4.4.5. Others

8.4.4.5.1. Market Trends and Opportunities

8.4.4.5.2. Growth Prospects

8.5. Middle East and Africa

8.5.1. By Deployment Type

8.5.2. By Enterprise Size

8.5.3. By End-User

8.5.4. By Country

8.5.4.1. Saudi Arabia

8.5.4.1.1. Market Trends and Opportunities

8.5.4.1.2. Growth Prospects

8.5.4.2. UAE

8.5.4.2.1. Market Trends and Opportunities

8.5.4.2.2. Growth Prospects

8.5.4.3. Others

8.5.4.3.1. Market Trends and Opportunities

8.5.4.3.2. Growth Prospects

8.6. Asia Pacific

8.6.1. By Deployment Type

8.6.2. By Enterprise Size

8.6.3. By End-User

8.6.4. By Country

8.6.4.1. China

8.6.4.1.1. Market Trends and Opportunities

8.6.4.1.2. Growth Prospects

8.6.4.2. Japan

8.6.4.2.1. Market Trends and Opportunities

8.6.4.2.2. Growth Prospects

8.6.4.3. South Korea

8.6.4.3.1. Market Trends and Opportunities

8.6.4.3.2. Growth Prospects

8.6.4.4. India

8.6.4.4.1. Market Trends and Opportunities

8.6.4.4.2. Growth Prospects

8.6.4.5. Australia

8.6.4.5.1. Market Trends and Opportunities

8.6.4.5.2. Growth Prospects

8.6.4.6. Others

8.6.4.6.1. Market Trends and Opportunities

8.6.4.6.2. Growth Prospects

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Competitive Dashboard

10. COMPANY PROFILES

10.1. Forcepoint

10.2. Microsoft

10.3. Cisco

10.4. Netskope Inc.

10.5. Versa Networks Inc.

10.6. Oracle Corporation

10.7. Zscaler Inc.

10.8. Proofpoint Inc.

10.9. Skyhigh Security

10.10. Palo Alto Networks


Forcepoint

Microsoft

Cisco

Netskope Inc.

Versa Networks Inc.

Oracle Corporation

Zscaler Inc.

Proofpoint Inc.

Skyhigh Security

Palo Alto Networks