The cloud access security brokers market is anticipated to expand its roots at a steady CAGR of 13.9% between 2023 and 2033. The market is expected to have a share of USD 39.3 billion by 2033 while it is likely to be valued at USD 10.7 billion in 2023.
New-age machines and connected devices have made their storage options ready. Cloud storage systems are the new space to accommodate data and information for the usage of a certain enterprise. With this development, the demand for a high-end security system has pushed the advent of CASB systems.
The advanced CASBs are deploying their protection layer to different types of working spaces like BYOD, SaaS, and even IaaS. The system saves sensitive data from getting into unauthorized parties’ hands through malicious malware. Especially, the application of a cloud access security broker is likely to be helpful for the infrastructure as a service as data leakage is common there.
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The Shadow IT solutions are powered through the CASB solution as it maintains visibility and transparency in the whole operation. The solution also prevents the application of unsanctioned applications while identifying the most vulnerable end users.
The expanding corporate spaces, IT, and telecommunication sectors booming in emerging economies are using CASB solutions well. The market is expected to flourish in the future as most sectors are going digital for better opportunities.
Key Takeaways:
- The United States market leads the cloud access security brokers market in terms of market share in North America. The United States region held a market share of 24.2% in 2023. The growth in this region is attributed to the expanding corporate spaces, higher outsourcing, and increased innovations. The North American region held a major market share of 36.3% in 2022.
- Germany’s market is another successful market in the European region. The market holds a market share of 8.2% in 2023. The growth is attributed to the stringent government norms for corporate structures. Though, the European region held a market share of 21.1% in 2022
- The Indian cloud access security brokers market booms at a leading CAGR of 17.8% during the forecast period. The market’s growth is attributed to proliferating IT spaces, higher outsourcing structures, and government focus on the prevention of cyber attacks.
- Chinese market also thrives at a CAGR of 14.9% between 2023 and 2033. The growth is caused by foreign brands setting up their manufacturing spaces in China.
- Based on cloud deployment type, the Software as a Service (SaaS) segment held the leading market share of 38.1% in 2022.
- Based on software type, on-premise software performs better than the rest as it holds a leading market share of 21.3% in 2022.
Competitive Landscape
The key vendors focus on multi-layer security, data-theft prevention, cloud access management along with possible threat prediction. Key competitors and also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel.
Key Players
- NetSkope Inc
- Skyhigh Networks
- CloudLock Inc
- Zscaler Inc
- Bitglass Inc.
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Recent Market Developments
- Skyhigh Networks’s CASB solution delivers the monitoring and regulating access to cloud applications, controls the data and cloud activity, and prevents cloud security threats and misconfigurations.
- Bitglass Inc. Has introduced the Next-Gen cloud access security broker (CASB) solution for the respective corporate enterprises. The solution ensures the adoption of various cloud apps while ensuring data security and regulatory compliance.
Key Segments Covered
By Cloud Deployment Type:
- Software as a Service
- Platform as a Service
- Infrastructure as a Service
By Software Type:
- On-Premise Software
- Cloud and Monitoring
- Control & Monitoring
- Risk & Compliances Management
- Cloud Data Encryption
- Data Confidentiality/Data Leakage Prevention
- Tokenization
By Services:
- Consulting
- System Integration
- Operation & Maintenance
Key Regions Covered:
- North America
- Latin America
- Europe
- Japan
- Asia Pacific Excluding Japan
- Middle East and Africa
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