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Cloud Access Security Broker (CASB) Global Market 2024 - Industry Trends, Share, Size, Growth, Opportunity And Forecast 2033
Cloud Access Security Broker (CASB) Global Market
According to The Business Research Company's, 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.
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Market Drivers and Trends:
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.
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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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
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Major Key Players of the Market:
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.
Cloud Access Security Broker (CASB) Market 2024 Key Insights:
• The cloud access security broker (casb) market size will grow to $26.95 billion in 2028 at a compound annual growth rate (CAGR) of 18.6%.
• Casb Market Surge With The Rise Of Cloud-Based Apps
• Technological Trends In The Casb Market
• North America was the largest region in the cloud access security broker (CASB) market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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