Cloud Access Security Brokers Market 2018-2024: Growth by Manufactures, Types, Applications and Regions

According to a new market report published by Transparency Market Research entitled “Cloud Access Security Brokers Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024,” the cloud access security brokers (CASB) market was worth US$ 3,371.4 Mn in 2015 and is expected to reach US$ 13,218.5 Mn by 2024, expanding at a CAGR of 16.7% from 2016 to 2024. North America was the largest market for cloud access security brokers in 2015. The growth in this region is being driven by the presence of a large number of small and medium-sized businesses (SMBs), start-ups, and large corporate enterprises. 

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 play a significant role in providing solutions encompassing control & monitoring, risk & compliance management, tokenization, data leakage prevention, and cloud data encryption. These solutions are capable enough to provide complete cloud security, avoiding data leakage and the risk of security breaches at access points and nodes.

The report provides cross-segment analysis of the CASB market, based on cloud deployment type and components comprising software and services. Segmentation on the basis of deployment type includes SaaS, PaaS, and IaaS. IaaS platforms are expected to emerge as the fastest-growing platforms, owing to their augmented IT delivery capabilities, increased scalability, and flexibility. However, the SaaS platform held the dominant position in terms of CASB cloud deployment type in 2015.

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Software solutions that are particularly used for data leakage prevention and control & monitoring held the largest market shares in 2015. Furthermore, these segments are growing at a significant pace owing to rising threat of security breaches. Frequently changing cloud regulations by governing bodies are making it difficult for cloud storage vendors to ensure compliance. This has enabled cloud storage vendors to outsource the security platform to the CASB providers, empowering the CASB risk & management compliance market to expand at an expected CAGR of 18% from 2016 to 2024. However, cloud data encryption is expected to be the fastest-growing software solution segment, expected to advance at the rate of 20.2% over the forecast period from 2016 to 2024.

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Pragati Pathrotkar

Pragati’s longstanding experience in the field of market research is reflected in her insightful news articles on business, science, and technology as presented on Edition Truth. Her interest lies in understanding the ramifications of cultural diversity, green behavior, ecommerce, economic progress, and technical consciousness on these increasingly consumer-oriented industries. Her understanding of digital marketing techniques gives her news stories an engaging twist.

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