Cloud Access Security Brokers Market Recent Analysis of Industry Trends and Technological Improvements For 2024
CASB services provide a security platform for cloud silos. A large number of SMBs and large corporates currently rely on cloud computing technologies to store their information and extract it whenever required. Security over the cloud is one of the major concerns facilitating the growth of cloud security solutions.
CASB services provide a security platform for cloud silos. A large number of SMBs and large corporates currently rely on cloud computing technologies to store their information and extract it whenever required. Security over the cloud is one of the major concerns facilitating the growth of cloud security solutions.
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Rising Adoption <strong>of</strong> <strong>Cloud</strong>-based Services by SMBs Facilitating CASB <strong>Market</strong>’s Growth at<br />
16.7% CAGR<br />
According to a new market report published by Transparency <strong>Market</strong> Research entitled “<strong>Cloud</strong><br />
<strong>Access</strong> <strong>Security</strong> <strong>Brokers</strong> <strong>Market</strong> - Global <strong>Industry</strong> <strong>Analysis</strong>, Size, Share, Growth, <strong>Trends</strong> <strong>and</strong><br />
<strong>For</strong>ecast 2016 - <strong>2024</strong>,” the cloud access security brokers (CASB) market was worth US$ 3,371.4<br />
Mn in 2015 <strong>and</strong> is expected to reach US$ 13,218.5 Mn by <strong>2024</strong>, exp<strong>and</strong>ing at a CAGR <strong>of</strong> 16.7%<br />
from 2016 to <strong>2024</strong>. North America was the largest market for cloud access security brokers in 2015.<br />
The growth in this region is being driven by the presence <strong>of</strong> a large number <strong>of</strong> small <strong>and</strong> mediumsized<br />
businesses (SMBs), start-ups, <strong>and</strong> large corporate enterprises.<br />
CASB services provide a security platform for cloud silos. A large number <strong>of</strong> SMBs <strong>and</strong> large<br />
corporates currently rely on cloud computing technologies to store their information <strong>and</strong> extract it<br />
whenever required. <strong>Security</strong> over the cloud is one <strong>of</strong> the major concerns facilitating the growth <strong>of</strong><br />
cloud security solutions. CASB services play a significant role in providing solutions encompassing<br />
control & monitoring, risk & compliance management, tokenization, data leakage prevention, <strong>and</strong><br />
cloud data encryption. These solutions are capable enough to provide complete cloud security,<br />
avoiding data leakage <strong>and</strong> the risk <strong>of</strong> security breaches at access points <strong>and</strong> nodes.<br />
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The report provides cross-segment analysis <strong>of</strong> the CASB market, based on cloud deployment type<br />
<strong>and</strong> components comprising s<strong>of</strong>tware <strong>and</strong> services. Segmentation on the basis <strong>of</strong> deployment type<br />
includes SaaS, PaaS, <strong>and</strong> IaaS. IaaS platforms are expected to emerge as the fastest-growing<br />
platforms, owing to their augmented IT delivery capabilities, increased scalability, <strong>and</strong> flexibility.<br />
However, the SaaS platform held the dominant position in terms <strong>of</strong> CASB cloud deployment type in<br />
2015.<br />
S<strong>of</strong>tware solutions that are particularly used for data leakage prevention <strong>and</strong> control & monitoring<br />
held the largest market shares in 2015. Furthermore, these segments are growing at a significant<br />
pace owing to rising threat <strong>of</strong> security breaches. Frequently changing cloud regulations by<br />
governing bodies are making it difficult for cloud storage vendors to ensure compliance. This has<br />
enabled cloud storage vendors to outsource the security platform to the CASB providers,<br />
empowering the CASB risk & management compliance market to exp<strong>and</strong> at an expected CAGR <strong>of</strong><br />
18% from 2016 to <strong>2024</strong>. However, cloud data encryption is expected to be the fastest-growing<br />
s<strong>of</strong>tware solution segment, expected to advance at the rate <strong>of</strong> 20.2% over the forecast period from<br />
2016 to <strong>2024</strong>.<br />
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Geographically, North America is the largest market for CASBs <strong>and</strong> the region is anticipated to<br />
dominate the global CASB market over the forecast period. In 2015, North America accounted for<br />
approximately 30% <strong>of</strong> the global CASB market’s revenue. Key players in the market include<br />
NetSkope Inc., Skyhigh Networks, <strong>Cloud</strong>Lock Inc., Zscaler, Inc., Adallom, Inc., Bitglass, Inc.,<br />
Cipher<strong>Cloud</strong> Inc., <strong>and</strong> Protegrity USA, Inc.<br />
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