Global Cloud Access Security Brokers (CASBs) Market, Top key players are NetSkope Inc., Skyhigh Networks, CloudLock Inc., Zscaler, Inc., Adallom, Inc., Bitglass, Inc., CipherCloud Inc., and Protegrity USA, Inc

Global Cloud Access Security Brokers (CASBs) Market Size study, by Component (Software, Services), by Cloud Deployment (Software as a Service, Platform as a Service, Infrastructure as a Service), by Industry (Vertical, BFSI, Education, Government, Healthcare and Life Sciences, Manufacturing,) and by Regional Forecasts 2018-2025

Cloud computing technology has greatly influenced the way organizations store their information and statistics. The adoption of cloud-based technologies has reduced data storage concerns of enterprises, allowing them to concentrate on their core capabilities. However, concerns pertaining to the privacy of sensitive data and frequent security breaches are major factors crafting the need for cloud security solutions. Thus, cloud access security brokers (CASB) are achieving a vital position in the cloud security domain as protectors of organizations’ critical data. The global CASB market is expected to expand at a CAGR of 16.7% from 2016 to 2024 owing to extensive deployment by a large number of small and medium-sized businesses (SMBs). This large-scale deployment can be attributed to the flexible characteristics of CASB solutions.

Complete business functionality can be accessed through SaaS at lower operating costs. This has supported the deployment of SaaS-delivered services significantly across SMBs. The rising adoption of the cloud has raised security concerns, leading to a positive influence on the growth of the global CASB market. Governing bodies continually revamp regulations, making it difficult for cloud storage vendors to manage cloud security platforms. Thus, the outsourcing of security solutions has become the foremost trend and is further driving the CASB market. However, a lack of awareness about security pertaining to the use of cloud technologies serves as a constraint for the CASB market.

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Some of the key players operating in this market include NetSkope Inc., Skyhigh Networks, CloudLock Inc., Zscaler, Inc., Adallom, Inc., Bitglass, Inc., CipherCloud Inc., and Protegrity USA, Inc.

The major factor driving the adoption of cloud access security brokers is the rising concern among enterprises for the security of cloud based applications. Many organizations are moving towards the adoption of cloud technology, due to which they are in a need of strong network security, data security and threat management solutions that can be easily managed, identify threat, customized and provides security without control of any physically-oriented elements such as hardware. Other driving factor for cloud access security brokers is increasing demand for real-time security.

The key challenge in the cloud access security broker market is the limited awareness of CASB solutions for cloud based environment. This approach is still in its introductory phase due to which many organizations do not know about its benefits and usage. There are limited number of companies that are using cloud access security broker solution for threat management, compliance management and for visibility of data. Moreover, there are very less number of vendors providing cloud access security brokering solutions due to which it is not cost-effective.

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