New York, Nov. 23, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Cloud Access Security Broker Market Size, Share & Industry Trends Analysis Report By Service Model, By Solution, By Organization Size, By Vertical, By Regional Outlook and Forecast, 2022 – 2028” – https://www.reportlinker.com/p06364408/?utm_source=GNW
CASBs could monitor traffic and user activity, automatically prohibit threats and dangerous sharing, and enforce security regulations like authentication and alerting since they are placed between cloud app customers as well as the cloud services themselves.
The requirement for visibility into shadow IT activities, the increased need for secure and compliant cloud use, and the rising popularity of cloud-based apps among small and medium-sized organizations are the main reasons driving the market for cloud access security brokers. Additionally, managing cloud protection services for businesses is difficult. Therefore, the demand for outsourcing security solutions has driven the market for cloud access security brokers even further.
The CASB approach adds an extra layer of security by extending methods of control to apps on internal networks and limiting access through zero trust. Zero-trust network connection via the cloud doesn’t involve the internet. Through a cloud broker service, users can connect authenticated users to apps using this control feature.
For higher scalability, cheaper costs, and simpler management, CASB solutions are best provided as a cloud service. However, they can also be implemented as on-premises hardware or software. CASBs can be configured to employ APIs, proxying (forward or reverse proxy) or both (multimode; more on this later), depending on the form factor.
COVID-19 Impact Analysis
Due to an increase in hybrid work patterns during the COVID-19 outbreak, the use of cloud technology significantly increased, posing serious security risks. One of the markets that experienced growth was the market for cloud access security brokers, particularly during the period of COVID-19. COVID-19 forced governments to close down office buildings, enabling employees to work remotely. This contributed to the rise in demand for cloud access security brokers, who assist businesses in protecting their data and lowering the likelihood of threats and fraud. Both small- and large-scale businesses use the covid-19 and work from home procedures to monitor their data and secure it into automatically optimized safe storage.
Market Growth Factors
Rising need to prevent vendor lock-in
There is a chance that deploying server infrastructure in the cloud will tie a customer to a specific service provider. One of the main barriers to the uptake of cloud services is frequently identified as the worry of vendor lock-ins. Additionally, because switching to a cloud service is difficult, many consumers choose to stay with their current supplier. Vendors can prevent lock-in with the advent of multi-cloud system management due to a highly standardized cloud environment. End users must make sure that the architecture they have chosen is compatible with heterogeneous clouds in order to prevent vendor lock-in. The data stored in the cloud can also be readily transferred to another cloud. The market has grown extremely competitive as a result of the introduction of several cloud service providers, giving end consumers a wide range of options.
Rising demand for CASB from SMEs
As more and more small businesses reap the benefits of cloud-based solutions, the use of the cloud among small and mid-sized enterprises is rising daily. Cloud-based solutions help SMEs with a variety of issues, including improved IT operations and lower IT expenditures. The public cloud has recently grown in favor among SMEs. In contrast to large businesses, SMEs are embracing public cloud technology more quickly. Through the internal enablement model, the market for external cloud brokers, including telecom providers is growing rapidly in the SMEs category for cloud providers. Owing to this, the demand for cloud access security broker would increase from the SMEs over the course of the projection period.
Market Restraining Factors
Issues with regulatory compliance
Financial services, healthcare, the public sector, and telecommunications are just a few of the areas that companies that provide services on the cloud platform work with. Businesses could suffer from changing adverse industry-specific rules, regulations, interpretive stances, or standards. Customers’ use and acceptance of solutions & services may be constrained, hence decreasing demand, due to the costs of compliance and other restrictions imposed by laws, regulations, and interpretation stances that are specific to the industry. In order to comply with these laws, service providers could need to devote a lot of resources to support specific clients, which would raise costs and delay sales cycles. All these elements may hamper the cloud access security broker market.
Based on solution, the cloud access security broker market is segmented into control & monitoring cloud services, risk & compliance management, data security, threat protection and others. In 2021, the data security segment dominated the cloud access security broker market with the maximum revenue share. Many causes, including the mobility of data through cloud services, contribute to the segment’s growth. This complicates decisions regarding how to strike a balance between business needs and rising risks in order to offer proper security compliance and prevent data loss. When a company uses the cloud, regardless of the device, cloud access security brokers also serve as a policy enforcement center, implementing various security policies for that company.
Service Model Outlook
On the basis of service model, the cloud access security broker market is fragmented into infrastructure as a service, platform as a service and software as a service. The platform as a service segment covered a significant revenue share in the cloud access security broker market in 2021. Due to factors including SMEs increasingly utilizing cloud-based services, needs for cost and time savings, and delivering data agility & enterprise cloud services to support all devices, the platform as a service is predicted to expand at a rapid rate.
Enterprise Size Outlook
By enterprise size, the cloud access security broker market is divided into large enterprises, small & medium enterprises (SMEs). The small & medium enterprise segment garnered a substantial revenue share in the cloud access security broker market in 2021. The growing demand for cloud access security brokers in SMEs is the main factor driving the market’s expansion in this segment. Since they lack cloud storage support, many small firms use third-party cloud support services.
On the basis of end-use, the cloud access security broker market is classified into BFSI, government, healthcare, IT & telecom, manufacturing, retail & consumer goods, education, and others. In 2021, the IT & telecom segment registered the highest revenue share in the cloud access security broker market. Solutions for cloud access security brokers are increasingly in demand in this industry. The need for cloud access security is growing as more enterprises migrate to cloud services. In addition, the telecom industry is regarded as one of the most exposed to cyberattacks.
Region wise, the cloud access security broker market is analyzed across North America, Europe, Asia Pacific and LAMEA. The North America region led the cloud access security market by generating the highest revenue share in 2021. Adoption of cloud access security broker solutions in the North America region is being driven by escalating worries about data security from fraud & data breaches. The rapid expansion of the market is also being fueled by fierce rivalry and new private companies.
The major strategies followed by the market participants are Acquisitions. Based on the Analysis presented in the Cardinal matrix. Microsoft Corporation is the major forerunner in the Cloud Access Security Broker Market. Companies such as Broadcom Inc., McAfee Corp., Lookout, Inc. are some of the key innovators in Cloud Access Security Broker Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Imperva, Inc., Broadcom Inc., Censornet Ltd., Forcepoint LLC, Iboss, Inc., Lookout, Inc., McAfee Corp., Microsoft Corporation, Netskope, Inc., and Proofpoint, Inc.
Recent Strategies deployed in Cloud Access Security Broker Market
Partnerships, Collaborations and Agreements:
Jun-2022: Proofpoint came into partnership with Okta, an American identity, and access management company. This partnership focused on providing give its consumers the ability to detect & remediate suspicious log-ins for the more than 7,000 cloud applications federated through the Okta Identity Cloud. From this partnership, Proofpoint’s CASB would get visibility into Okta log-ins through Okta public APIs in near real-time.
May-2022: Lookout partnered with Ivanti, an IT software company. This partnership would help organizations accelerate cloud adoption & mature their zero-trust security posture in “Everywhere Workplace” — the modern world of work where people require to access digital applications & services from anywhere. This partnership aimed at integrating Ivanti’s Neurons for zero-trust access & Lookout’s cloud access security broker (CASB) and secure web gateway (SWG) to help consumers enhance threat prevention and data security both on-premises and in the cloud while following zero-trust access security principles.
Apr-2021: Broadcom teamed up with Google Cloud, a suite of cloud computing services. This collaboration aimed at accelerating innovation as well as strengthening cloud services integration within the core software franchises of Broadcom. Under this acquisition, Broadcom would deliver its suite of security & enterprise operations software on Google Cloud which would allow businesses to adopt Broadcom solutions in security, DevOps, and more on Google Cloud’s trusted, global infrastructure.
Feb-2020: Netskope partnered with Eperi, an expert for Cloud Data Protection Gateway and next-generation secure web gateways. The partnership allows both companies to offer a complete portfolio for secure cloud usage, building upon Netskope’s security cloud & adding the ability to further encrypt or tokenize critical data to ensure no cloud provider would be enabled to get access to the unencrypted data – at any point of time. This enables consumers to stay in control of their critical data & meets the most stringent of regulatory requirements.
Acquisition & Mergers:
Jun-2022: Lookout completed the acquisition of SaferPass, a password management company. The acquisition focused on Lookouts’s step forward to provide proactive protection & safeguard consumer data for individuals as well as organizations.
Oct-2021: Forcepoint took over Bitglass, a Security Service Edge (SSE) leader. Through this acquisition, Forcepoint would deliver a best-in-class SSE platform that includes a state-of-the-art Cloud Access Security Broker (CASB). This acquisition would further enable Forcepoint to become the only company delivering each & every strategic component of SSE and SASE.
Mar-2021: Lookout took over CipherCloud, a leading cloud-native security company. Through this acquisition, the Lookout Mobile Endpoint Security would be combined with the CipherCloud SASE technologies. Lookout is in a unique position to deliver the industry’s first end-to-end platform that secures an organization’s entire data path from endpoint to cloud.
Feb-2021: Proofpoint acquired InteliSecure, an innovator in data loss protection managed services. This acquisition would strengthen Proofpoint’s cloud-based people-centric security platform by improving consumers’ capability to protect critical data in diverse environments.
Oct-2020: Imperva took over jSonar, a database security specialist startup. This acquisition would pioneer a bold latest approach to securing data through all paths, that includes cloud, on-premises, multi-cloud, and Database-as-a-Service (DBaaS).
Product Launches and Product Expansion:
May-2022: Censornet launched integrated identity as a service (IDaaS) into its intelligent cybersecurity platform. This launch would strengthen Censornet’s offering to organizations and gives them total control over user access through integration with its established Cloud Application Security (CASB), Web Security, Email Security, and Multi-Factor Authentication (MFA) solutions.
Feb-2022: Forcepoint released Forcepoint ONE, the industry’s first ‘easy button’ for securing enterprises with hybrid workforces. The Forcepoint ONE all-in-one cloud platform simplifies security for both traditional & remote workforces, enabling users to gain safe, controlled access to business information on the web, in the cloud, and in private applications.
Scope of the Study
Market Segments covered in the Report:
By Service Model
• Software as a Service
• Infrastructure as a Service
• Platform as a Service
• Data Security
• Risk & Compliance Management
• Control & Monitoring Cloud Services
• Threat Protection
By Organization Size
• Large Enterprises
• Small & Medium-sized Enterprises
• IT & Telecom
• Retail & Consumer Goods
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Imperva, Inc.
• Broadcom Inc.
• Censornet Ltd.
• Forcepoint LLC
• Iboss, Inc.
• Lookout, Inc.
• McAfee Corp.
• Microsoft Corporation
• Netskope, Inc.
• Proofpoint, Inc.
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06364408/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.