Cloud Access Security Broker (CASB) Market 2024 - Industry Analysis, Predictions for the Future, Business Overview, and Forecast up to 2033

The cloud access security broker (casb) market size has grown rapidly in recent years. It will grow from $11.47 billion in 2023 to $13.61 billion in 2024 at a compound annual growth rate (CAGR) of 18.7%. The growth in the historic period can be attributed to increased cybersecurity concerns, regulatory compliance requirements, shift to remote work environments, increased complexity of cloud environments, mobile device proliferation.

The cloud access security broker (casb) market size is expected to see rapid growth in the next few years. It will grow to $26.95 billion in 2028 at a compound annual growth rate (CAGR) of 18.6%. The growth in the forecast period can be attributed to compliance with data privacy regulations, increasing emphasis on insider threat prevention, granular visibility and control enhancement, compliance automation and governance.. Major trends in the forecast period include cloud-native casb solutions, data loss prevention (dlp), cross-platform integration, api security, zero trust architecture, collaboration security in cloud-based tools.

Market Overview -
A cloud access security broker (CASB) refers to a software program or application that serves as a conduit across an organization's premises or off-site network and a cloud provider's infrastructure to evaluate cloud traffic and enhance the reach of its security rules. A CASB is used to regulate cloud consumption across devices and cloud applications, protect against threats, and help assure regulatory compliance and data protection.

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Casb Market Surge With The Rise Of Cloud-Based Apps
The growing number of cloud-based apps in small and medium-sized organizations is expected to propel the growth of the cloud access security broker (CASB) market in the coming future. Cloud-based apps are software that consumers access largely over the internet, implying that at least a portion of it is administered by a server rather than the users' local workstations. The increasing number of cloud-based apps in small and medium-sized organizations expands the cloud access security broker (CASB) market as it is used in regulating cloud consumption across devices and cloud apps, protecting against attacks, and safety and safeguarding information. For instance, in December 2021, according to The Cloud in 2021, a survey report conducted among 2,834 respondents from globe conducted by O'Reilly Media Inc., a US-based learning company, 90% of the respondents in the survey report indicated that their organizations are using cloud-based applications. Additionally, nearly half (48%) of survey participants reported they anticipate moving 50% or more of their apps to the cloud in the upcoming year, while 20% of companies were expected to move to the cloud entirely. Therefore, the growing number of cloud-based apps in small and medium-sized organizations is driving the cloud access security broker (CASB) market.

Competitive Landscape -
Major companies operating in the cloud access security broker (casb) market report are Protegrity Inc., Skyhigh Security, Microsoft Corporation, Cisco System Inc., Forcepoint LLC, Broadcom Corporation, Imperva Inc., Proofpoint Inc., Lookout Inc., Zscaler Inc., Vaultive Inc., Fortinet Inc., Oracle Corporation, Happiest Minds, VMware Inc., Bitglass Inc., CipherCloud Inc., IBM Managed Cloud Services, McAfee LLC, F5 Networks Inc., Check Point Software Technologies, Verizon Enterprise Solutions, The Hewlett Packard Enterprise Company, CyberArk Software Ltd., Infoblox Inc., LogRhythm Inc., Logitech International S A, Mimecast limited, SentinelOne Inc., Splunk Inc., Sonrai Security, Palo Alto Networks Inc., Qualys Inc., Trend Micro Inc.

Technological Trends In The Casb Market
Technological innovations are the key trend gaining popularity in the cloud access security broker (CASB) market. Major companies operating in the cloud access security broker (CASB) market are focused on developing innovative technologies to strengthen their position in the market. For instance, in May 2022, Censornet, a UK-based company that offers cloud access security broker services and advanced threat protection, launched integrated identity as a service (IDaaS) technology into an intelligent cybersecurity platform. The launch expands its service to organizations and allows them complete control over user access via integration with its existing Web Protection, Cloud Application Security (CASB), Email Security, and Multi-Factor Authentication (MFA) solutions. The combination of IDaaS with Censornet's intelligent security platform provides sophisticated rules that regulate who, when, and from where permission for what apps is given.

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Key Segments -
The cloud access security broker (casb) market covered in this report is segmented -
1) By Solution: Control and Monitoring Cloud Services, Risk and Compliance Management, Data Security, Threat Protection, Other Solutions
2) By Service: Infrastructure as a Service, Platform as a Service, Software as a Service
3) By Enterprise Size: Large Enterprises, Small and Medium Enterprises (SMEs)
4) By Application Areas: Governance, Risk, and Compliance, Data Security, Application Security, Other Application Areas
5) By End-use: Banking, Financial Services, and Insurance, Government, Healthcare, IT And Telecom, Manufacturing, Retail And Consumer Goods, Education, Other End-Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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