Cloud Access Security Brokers (CASB) Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 17.04 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Cloud Access Security Brokers (CASB) Market Analysis
The Cloud Access Security Brokers (CASB) Market is valued at USD 11 billion in the current year, and it is expected to witness a CAGR of 17.04% during the forecast period to become USD 24.18 billion by the next five years. The surge in the adoption of various cloud-based services, growing concerns about data security, and the increasing demand for integrated security solutions drive the market's growth significantly.
- The cloud access security broker (also referred to as a CASB ) is an essential piece of any organization's cybersecurity infrastructure. Businesses using cloud applications for productivity, collaboration, and storage are challenged by the unique security requirements of operating in the cloud. Using a CASB solves many of these challenges by providing unmatched security, visibility, and control over access to and behavior within popular cloud applications.
- Without the permission of IT, users are connecting thousands of third-party applications and browser extensions to crucial SaaS platforms like Atlassian Suite, Microsoft 365, Salesforce, Google Workspace, and Slack as organizations adopt hundreds of SaaS platforms as part of the massive migration to the cloud. Corporate IT believes that enterprise-ready SaaS platforms are where its crucial data assets are stored and secured. In reality, these assets are kept in external drives, email clients, and chatbots, which exposes their SaaS supply chain to cyber danger. This drives the overall need for cloud security solutions, driving the market's growth significantly.
- CASB Security helps to protect data stored in cloud applications, such as Google G Suite, Microsoft Office 365, Dropbox, Slack, etc. This is because data stored and accessed in the cloud does not exist within the user's perimeter, nor is it always accessed from inside the user's perimeter. Three business challenges that a CASB solves in terms of data security include data loss prevention, providing data access controls, and auditing risky (and unauthorized) behavior.
- However, the lack of awareness and security-related concerns could limit the market's overall growth throughout the forecast period.
- COVID-19 pushed the governments to shut the office spaces, enabling employees to work from home. This helped grow demand for cloud access security brokers that help companies keep their data safe and decrease the chances of risks and fraud, driving the market's growth opportunities exponentially.
Cloud Access Security Brokers (CASB) Market Trends
Increasing Adoption of Cloud-Based Applications
- The quick adoption of cloud-based services has raised various concerns regarding data security and privacy. Even when sensitive data is handled and kept in the cloud, organizations are becoming increasingly aware of the need to secure that data and retain control over it. As a security checkpoint between cloud network users and cloud-based applications, a cloud access security broker (CASB) is used. They oversee and implement all data security rules and procedures, including encryption, alerts, authorization, and authentication.
- Also, due the proliferation of cloud-based services, the growth of cloud platforms, and the rising popularity of bring-your-own-device policies are creating the demand for CASB solutions exponentially. Due to these trends, the data environment has grown significantly, making it more difficult for the IT department to monitor overall network usage and guarantee company data security. Moreover, with increased cloud adoption, CASBs have become attractive to enterprise security for their various cybersecurity, access control, and data protection functions.
- Data security and regulatory compliance are essential when businesses migrate to the cloud. By supplying visibility, control, and security mechanisms for cloud-based applications, CASBs address these issues and enable companies to adopt and use cloud services securely.
- Moreover, significant organizations are investing a hefty sum of money in the cloud infrastructure to increase their consumer base and meet their demands across various applications. For instance, in February 2023, Oracle declared its plans to launch a third public cloud region in Saudi Arabia to address the fast-expanding demand for its cloud services. The new cloud region, which will be based in Riyadh, is a component of an anticipated USD 1.5 billion investment from Oracle to develop cloud infrastructure capabilities in the Kingdom.
- According to a survey by Turbonomic, in 2022, 56% of those surveyed used Microsoft Azure for cloud services, whereas 51% of respondents stated that they are using Amazon Web Services (AWS) for their cloud services. A rise in the overall usage of such cloud services is expected to amplify the market's total growth opportunities.
North America to Hold the Highest Market Share
- Numerous companies across various industries have moved their applications and data to the cloud, placing North America at the forefront of cloud adoption. The demand for robust security solutions like CASBs rises as more businesses use cloud services.
- The CASB market in North America is expanding due to strict regulations, high cloud adoption, growing cyber threats, remote work trends, increased awareness of cloud security risks, technological improvements, and the significant presence of cloud service providers.
- The adoption of remote work rules and the use of personal devices for work purposes in North America has been pushed by the COVID-19 pandemic. This shift has thus increased the overall complexity of securing corporate data and applications in the cloud environments. Hence, to maintain secure remote work environments, CASBs play a significant role in terms of assisting organizations in enforcing security policies, managing access controls, and protecting data accessible from distant and mobile devices, driving the market significantly.
- Significant corporations are also investing, merging with other organizations, and funding new projects to broaden their customer base and better satisfy their requirements across diverse applications. For instance, in April 2023, Skyhigh Security announced adding several new features to its Security Service Edge (SSE) portfolio. The comprehensive Skyhigh Cloud Platform's Data Loss Prevention (DLP) as a key capability is integrated into the Skyhigh Secure Web Gateway (SWG), Skyhigh Cloud Access Security Broker (CASB), Skyhigh Private Access, and other products that make up the Skyhigh SSE Portfolio.
- In February 2023, Zscaler, Inc., a cloud security service provider, declared its intent to acquire Canonic Security, a pioneer in SaaS application security platforms. Canonic's platform is designed to reduce the rising risks of SaaS supply chain attacks for businesses. Zscaler strengthens its CASB (Cloud Access Security Broker) and SSPM (SaaS Security Posture Management) offerings, enabling enterprises to consolidate point products, reduce cost, and streamline management by incorporating the new supply chain security capabilities into their data protection services.
Cloud Access Security Brokers (CASB) Industry Overview
The Cloud Access Security Brokers market is moderately competitive and has various significant players. The extensive adoption of new technologies has pushed businesses to upgrade their security policies, thus increasing the market demand. Most companies maximize their overall market presence by securing new contracts and tapping new markets.
For instance, in February 2022, Cato Networks, a provider of the SASE platform, launched Cato CASB, the Cloud Access Security Broker (CASB), to provide actionable value in under 60 minutes. Along with the Cloud Application Catalog, Cato offers the quickest-to-deliver and easiest-to-run solution for managing cloud application data risk. With Cato CASB, Cato brings the key benefits of a true SASE platform to managing cloud application risk.
Furthermore, in June 2022, Juniper Networks, a provider of secure, AI-driven networks, declared the expansion of its SASE offering with the addition of advanced Data Loss Prevention (DLP) as well as Cloud Access Security Broker (CASB) capabilities to its Juniper Secure Edge solution. Combined with a unique SD-WAN solution by Juniper, driven by Mist AI, the company offers a full-stack SASE solution with visibility into both the edge and the data center.
Cloud Access Security Brokers (CASB) Market Leaders
Imperva, Inc.
Bitglass
Cloudlock
Ciphercloud
Mcafee Skyhigh Networks
*Disclaimer: Major Players sorted in no particular order
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Cloud Access Security Brokers (CASB) Market News
- Feb 2023: Skyhigh Security declared its Skyhigh Security Service Edge portfolio completed the Australian Information Security Registered Assessors Program assessment to the PROTECTED security classification level. The new assessment continues Skyhigh Security's momentum in the federal government, where Skyhigh Cloud Access Security Broker (CASB) was assessed to the PROTECTED level. The assessment assures public sector organizations that Skyhigh Security's powerful data-aware cloud security technology suite has appropriate and effective security controls to manage highly sensitive data and infrastructures for Australian government agencies.
- Sept 2022: Forcepoint ONE Expands FedRAMP Authorization for CASB to include Zero Trust Network Access (ZTNA) and Secure Web Gateway (SWG) to provide a Single Security Service Edge platform. All federal agencies can thus simplify the overall security and access the Forcepoint ONE SSE architecture for integrated SWG, CASB, and ZTNA. Forcepoint ONE is the converged, cloud-delivered platform for Security Service Edge that protects agency employees and contractors working remotely using cloud, web, and private applications.
Cloud Access Security Brokers (CASB) Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Intensity of Competitive Rivalry
4.3.5 Threat of Substitutes
4.4 Assessment of COVID-19 Impact on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Control Data Loss to Enable Uninterrupted Business Functions
5.1.2 Real-Time Monitoring Capabilities
5.1.3 Increasing Adoption of Cloud-Based Applications
5.2 Market Restraints
5.2.1 Risk of Information Loss
5.2.2 Surviving the Hype Cycle
5.3 Market Challenge
5.3.1 Lack of Awareness and Security Concerns
5.4 Technology Overview
5.4.1 Single Sign-On (SSO)
5.4.2 Security Information and Event Management (SIEM)
6. MARKET SEGMENTATION
6.1 By Service Model
6.1.1 Infrastructure as a Service
6.1.2 Platform as a Service
6.1.3 Software as a Service
6.2 By Organization Size
6.2.1 Small and Medium Enterprises
6.2.2 Large Enterprises
6.3 By End-User
6.3.1 Banking, Financial Services and Insurance (BFSI)
6.3.2 Education
6.3.3 Government
6.3.4 Healthcare and Life Sciences
6.3.5 Manufacturing
6.3.6 Retail and Wholesale
6.3.7 Telecommunication and It
6.3.8 Others
6.4 By Region
6.4.1 North America
6.4.2 Europe
6.4.3 Asia-Pacific
6.4.4 Rest of World
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Imperva, Inc.
7.1.2 Bitglass
7.1.3 Cloudlock
7.1.4 Ciphercloud
7.1.5 Skyhigh Networks
7.1.6 Netskope
7.1.7 Protegrity
7.1.8 Adallom
7.1.9 Perspecsys
7.1.10 Cloudmask
7.1.11 Elastica
7.1.12 Palerra
7.1.13 Vaultive
7.1.14 Firelayers
7.1.15 Palo Alto Networks
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Cloud Access Security Brokers (CASB) Industry Segmentation
Due to the rise in the concerns related to cloud-based applications and programs and their safety and security, the adoption of cloud access security brokers is rapidly increasing. Corporate enterprises are implementing these broker systems to ensure data security. The report also estimates the market size as well as the future growth potential across different segments, such as solution, service, service model, organization size, vertical, and region. The report also captures the effect of the pandemic on the market studied.
The Cloud Access Security Broker Market is segmented by Service Model (Infrastructure-as-a-Service, Platform-as-a-Service, and Solution-as-a-Service), Organization Size (Small and Medium Enterprises and Large Enterprises), End-user Vertical (Banking, Financial Services and Insurance (BFSI), Education, Government, Healthcare and Life Science, Manufacturing, Retail and Wholesale, Telecommunication, and IT), and Geography (North America, Europe, Asia-Pacific, and the Rest of the World). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Service Model | |
| Infrastructure as a Service | |
| Platform as a Service | |
| Software as a Service |
| By Organization Size | |
| Small and Medium Enterprises | |
| Large Enterprises |
| By End-User | |
| Banking, Financial Services and Insurance (BFSI) | |
| Education | |
| Government | |
| Healthcare and Life Sciences | |
| Manufacturing | |
| Retail and Wholesale | |
| Telecommunication and It | |
| Others |
| By Region | |
| North America | |
| Europe | |
| Asia-Pacific | |
| Rest of World |
Cloud Access Security Brokers (CASB) Market Research FAQs
What is the current Cloud Access Security Brokers (CASB) Market size?
The Cloud Access Security Brokers (CASB) Market is projected to register a CAGR of 17.04% during the forecast period (2024-2029)
Who are the key players in Cloud Access Security Brokers (CASB) Market?
Imperva, Inc., Bitglass, Cloudlock, Ciphercloud and Mcafee Skyhigh Networks are the major companies operating in the Cloud Access Security Brokers (CASB) Market.
Which is the fastest growing region in Cloud Access Security Brokers (CASB) Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Cloud Access Security Brokers (CASB) Market?
In 2024, the North America accounts for the largest market share in Cloud Access Security Brokers (CASB) Market.
What years does this Cloud Access Security Brokers (CASB) Market cover?
The report covers the Cloud Access Security Brokers (CASB) Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Cloud Access Security Brokers (CASB) Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
CASB Industry Report
Statistics for the 2024 CASB market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. CASB analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
