Cloud Access Security Broker (CASB) Market Poised for 20 % Growth, Set to Hit $32.98 Billion by 2029

How Are the key drivers contributing to the expansion of the cloud access security broker (casb) market?
The escalating number of cloud-based applications utilized by small and medium-sized businesses is projected to thrust the expansion of the cloud access security broker (CASB) market forward in the impending future. Cloud-based applications represent software primarily accessed via the internet, suggesting that at least some part of it is managed by a server rather than the local workstations of the users. The rising prevalence of cloud-based applications in small and medium-sized businesses enhances the scope of the cloud access security broker (CASB) market as it plays a crucial role in the regulation of cloud consumption across various devices and cloud applications and in providing protection against potential attacks and ensuring the security of information. As reported by Eurostat, a Luxembourg-based intergovernmental organisation, for instance, nearly 45.2% of all EU enterprises took advantage of cloud computing services in December 2023, largely for email hosting, file storage and assorted operational operations -representing a significant growth of 4.2 percentage points from 2021. The most demanding services comprised email hosting (82.7%), file storage (68.0%), office software (66.3%), security applications (61.0%), finance or accounting software (51.6%), and enterprise database hosting (43.0%). Hence, the ever-growing number of cloud-based applications in small and medium-sized businesses is propelling the cloud access security broker (CASB) market.

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What growth opportunities are expected to drive the cloud access security broker (casb) market's CAGR through 2034?
In recent times, there has been a significant expansion in the size of the cloud access security broker (CASB) market. It is projected to escalate from $13.33 billion in 2024 to a substantial $15.65 billion in 2025, with a compound annual growth rate (CAGR) of 17.4%. The expansion during the historical period can be accredited to factors such as heightened concerns over cybersecurity, the need for regulatory compliance, the transition towards remote working conditions, the amplified complexity of cloud environments, and the rise in mobile device usage.

The market size of the cloud access security broker (CASB) is projected to witness substantial growth in the coming years, reaching a value of "$32.98 billion in 2029. This increase, expected at a compound annual growth rate (CAGR) of 20.5%, is primarily due to compliance adherence to data privacy laws, a growing focus on preventing insider threats, refined visibility and control improvements, compliance automation, and governance. Key trends for the forecasted period will include cloud-native CASB solutions, data loss prevention (DLP), integration across different platforms, API security, zero-trust architecture, and security collaboration in cloud-based tools.

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What are the emerging trends shaping the future of the cloud access security broker (casb) market?
Emerging technological advancements are becoming the primary trend in the cloud access security broker (CASB) industry. Major industry players are concentrating their efforts on creating innovative technologies to solidify their market presence. For example, in May 2022, Censornet, a UK-based firm that provides cloud access security broker services and advanced threat protection, introduced integrated identity as a service (IDaaS) technology into a smart cybersecurity platform. This introduction broadens their service portfolio for organisations and offers comprehensive control over user access through its existing Web Protection, Cloud Application Security (CASB), Email Security, and Multi-Factor Authentication (MFA) solutions. Merging IDaaS with Censornet's smart security platform instigates sophisticated rules controlling permission for application access based on who is asking, when, and from where.

Which growth-oriented segments of the cloud access security broker (casb) market are leading the industry's development?
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

Subsegments:
1) By Control And Monitoring Cloud Services: Visibility And Reporting, Policy Enforcement, User Activity Monitoring
2) By Risk And Compliance Management: Compliance Reporting, Risk Assessment Tools, Audit Management
3) By Data Security: Data Loss Prevention (DLP), Encryption Solutions, Data Classification Tools
4) By Threat Protection: Threat Detection and Response, Anomaly Detection, Malware Protection
5) By Other Solutions: Integration With Existing Security Solutions, Identity And Access Management (IAM), Security Analytics And Intelligence

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What regions are leading the charge in the cloud access security broker (casb) market?
North America was the largest region in the cloud access security broker (CASB) market in 2024. The regions covered in the cloud access security broker (CASB) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

What companies are at the forefront of innovation in the cloud access security broker (casb) market?
Major companies operating in the cloud access security broker (CASB) market include 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., SentinelOne Inc., Splunk Inc., Sonrai Security, Palo Alto Networks Inc., Qualys Inc., Trend Micro Inc.

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What Is Covered In The Cloud Access Security Broker (CASB) Global Market Report?

• Market Size Forecast: Examine the cloud access security broker (casb) market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the cloud access security broker (casb) market for a structured understanding.
• Key Players Overview: Analyze major players in the cloud access security broker (casb) market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the cloud access security broker (casb) market.
• Segment Contributions: Evaluate how different segments drive overall growth in the cloud access security broker (casb) market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the cloud access security broker (casb) market.
• Industry Challenges: Identify potential risks and obstacles affecting the cloud access security broker (casb) market.
• Competitive Landscape: Review strategic developments in the cloud access security broker (casb) market, including expansions, agreements, and new product launches.

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