Global Cloud Access Security Broker Market Report 2022 to 2028: Rising Demand for CASB from SMEs Drives Growth - ResearchAndMarkets.com

The "Global Cloud Access Security Broker Market Size, Share & Industry Trends Analysis Report by Service Model, Solution, Organization Size (Large Enterprises and Small & Medium-sized Enterprises), Vertical, By Regional Outlook and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.

The Global Cloud Access Security Broker Market size is expected to reach $18 billion by 2028, rising at a market growth of 17.8% CAGR during the forecast period.

A cloud access security broker (CASB) is a visibility and control point that secures cloud applications. It provides data protection and threat protection services to block malware and other attacks, prevent the leakage of sensitive data, find and manage shadow IT, and maintain regulatory compliance.

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.

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.

Marketing Restraining Factor:

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.

Scope of the Study

By Service Model

• Software as a Service
• Infrastructure as a Service
• Platform as a Service

By Solution

• Data Security
• Risk & Compliance Management
• Control & Monitoring Cloud Services
• Threat Protection
• Others

By Organization Size

• Large Enterprises
• Small & Medium-sized Enterprises

By Vertical

• IT & Telecom
• BFSI
• Healthcare
• Retail & Consumer Goods
• Government
• Manufacturing
• Education
• Others

By Geography

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

• Imperva, Inc.
• Broadcom Inc.
• Censornet Ltd.
• Forcepoint LLC
• Iboss, Inc.
• Lookout, Inc.
• McAfee Corp.
• Microsoft Corporation
• Netskope, Inc.
• Proofpoint, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/wf855t-cloud?w=4

View source version on businesswire.com: https://www.businesswire.com/news/home/20230126005731/en/