Cloud Access Security Brokers Market- Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032
Description
Market Overview
The Cloud Access Security Brokers (CASB) Market is projected to grow from USD 10,715 million in 2024 to USD 31,434.05 million by 2032, reflecting a compound annual growth rate (CAGR) of 14.4% during the forecast period.
Key drivers for market growth include the increasing frequency of cyber threats targeting cloud infrastructures, rising regulatory compliance requirements, and the growing adoption of Bring Your Own Device (BYOD) policies. Organizations are increasingly leveraging Cloud Access Security Broker (CASB) solutions to address concerns around data breaches, unauthorized access, and insider threats. In fact, 82% of data breaches involve cloud-stored data, highlighting the critical role of CASBs in protecting sensitive information. The rise of hybrid work models has further amplified the need for secure cloud access, prompting investments in advanced CASB solutions with AI-driven analytics and automation features. Many global organizations plan to increase their cloud security investments to respond to these challenges. Additionally, innovations such as zero-trust architecture and enhanced threat intelligence capabilities are reshaping the CASB landscape, with 70% of companies prioritizing compliance monitoring to address common cloud security challenges.
Market Drivers
Rising Cybersecurity Concerns
The escalating frequency and sophistication of cyberattacks have highlighted the need for robust cloud security measures. Recent statistics show an 81% increase in cyberattacks globally, with financial losses averaging $4.35 million per breach. Organizations implementing CASB solutions have reported a 92% reduction in security incidents, demonstrating the effectiveness of these tools in mitigating risks. However, 76% of companies have experienced at least one cloud security breach in the past 18 months, and data reveals that 98% of organizations encountered at least one cloud data breach in the past year, emphasizing the critical need for enhanced security protocols.
Market Challenges Analysis
Implementation Complexity and Costs
The Food and Drug Administration (FDA) and Federal Trade Commission (FTC) regulations present significant implementation challenges for organizations adopting Cloud Access Security Broker (CASB) solutions. For example, initial deployment costs can increase by 35% due to the complexities of integrating with existing IT infrastructure, which often requires significant adjustments. Studies indicate that organizations spend an additional 25% on training and maintenance, particularly affecting small and medium-sized enterprises (SMEs) with limited IT budgets. Approximately 60% of SMEs report that these costs hinder their ability to implement necessary security measures.
Segmentations
By Cloud Deployment Type:
Software as a Service
Platform as a Service
Infrastructure as a Service
By Software Type:
On-Premise Software
Cloud and Monitoring
Control & Monitoring
Risk & Compliance Management
Cloud Data Encryption
Data Confidentiality/Data Leakage Prevention
Tokenization
By Services:
Consulting
System Integration
Operation & Maintenance
Key Regions Covered:
North America:
United States
Canada
Mexico
Europe:
United Kingdom
France
Germany
Italy
Spain
Russia
Belgium
Netherlands
Austria
Sweden
Poland
Denmark
Switzerland
Rest of Europe
Asia Pacific:
China
Japan
South Korea
India
Australia
Thailand
Indonesia
Vietnam
Malaysia
Philippines
Taiwan
Rest of Asia Pacific
Latin America:
Brazil
Argentina
Peru
Chile
Colombia
Rest of Latin America
Middle East & Africa:
UAE
Saudi Arabia
Israel
Turkey
Iran
Rest of the Middle East
Egypt
Nigeria
Algeria
Morocco
Rest of Africa
Key Player Analysis
Microsoft Corporation
McAfee Corp.
Netskope Inc.
Symantec Corporation (Broadcom Inc.)
Palo Alto Networks, Inc.
Forcepoint LLC
IBM Corporation
Oracle Corporation
Proofpoint, Inc.
Bitglass, Inc.
The Cloud Access Security Brokers (CASB) Market is projected to grow from USD 10,715 million in 2024 to USD 31,434.05 million by 2032, reflecting a compound annual growth rate (CAGR) of 14.4% during the forecast period.
Key drivers for market growth include the increasing frequency of cyber threats targeting cloud infrastructures, rising regulatory compliance requirements, and the growing adoption of Bring Your Own Device (BYOD) policies. Organizations are increasingly leveraging Cloud Access Security Broker (CASB) solutions to address concerns around data breaches, unauthorized access, and insider threats. In fact, 82% of data breaches involve cloud-stored data, highlighting the critical role of CASBs in protecting sensitive information. The rise of hybrid work models has further amplified the need for secure cloud access, prompting investments in advanced CASB solutions with AI-driven analytics and automation features. Many global organizations plan to increase their cloud security investments to respond to these challenges. Additionally, innovations such as zero-trust architecture and enhanced threat intelligence capabilities are reshaping the CASB landscape, with 70% of companies prioritizing compliance monitoring to address common cloud security challenges.
Market Drivers
Rising Cybersecurity Concerns
The escalating frequency and sophistication of cyberattacks have highlighted the need for robust cloud security measures. Recent statistics show an 81% increase in cyberattacks globally, with financial losses averaging $4.35 million per breach. Organizations implementing CASB solutions have reported a 92% reduction in security incidents, demonstrating the effectiveness of these tools in mitigating risks. However, 76% of companies have experienced at least one cloud security breach in the past 18 months, and data reveals that 98% of organizations encountered at least one cloud data breach in the past year, emphasizing the critical need for enhanced security protocols.
Market Challenges Analysis
Implementation Complexity and Costs
The Food and Drug Administration (FDA) and Federal Trade Commission (FTC) regulations present significant implementation challenges for organizations adopting Cloud Access Security Broker (CASB) solutions. For example, initial deployment costs can increase by 35% due to the complexities of integrating with existing IT infrastructure, which often requires significant adjustments. Studies indicate that organizations spend an additional 25% on training and maintenance, particularly affecting small and medium-sized enterprises (SMEs) with limited IT budgets. Approximately 60% of SMEs report that these costs hinder their ability to implement necessary security measures.
Segmentations
By Cloud Deployment Type:
Software as a Service
Platform as a Service
Infrastructure as a Service
By Software Type:
On-Premise Software
Cloud and Monitoring
Control & Monitoring
Risk & Compliance Management
Cloud Data Encryption
Data Confidentiality/Data Leakage Prevention
Tokenization
By Services:
Consulting
System Integration
Operation & Maintenance
Key Regions Covered:
North America:
United States
Canada
Mexico
Europe:
United Kingdom
France
Germany
Italy
Spain
Russia
Belgium
Netherlands
Austria
Sweden
Poland
Denmark
Switzerland
Rest of Europe
Asia Pacific:
China
Japan
South Korea
India
Australia
Thailand
Indonesia
Vietnam
Malaysia
Philippines
Taiwan
Rest of Asia Pacific
Latin America:
Brazil
Argentina
Peru
Chile
Colombia
Rest of Latin America
Middle East & Africa:
UAE
Saudi Arabia
Israel
Turkey
Iran
Rest of the Middle East
Egypt
Nigeria
Algeria
Morocco
Rest of Africa
Key Player Analysis
Microsoft Corporation
McAfee Corp.
Netskope Inc.
Symantec Corporation (Broadcom Inc.)
Palo Alto Networks, Inc.
Forcepoint LLC
IBM Corporation
Oracle Corporation
Proofpoint, Inc.
Bitglass, Inc.
Table of Contents
206 Pages
- CHAPTER NO. 1 : INTRODUCTION
- 1.1.1. Report Description
- Purpose of the Report
- USP & Key Offerings
- 1.1.2. Key Benefits for Stakeholders
- 1.1.3. Target Audience
- 1.1.4. Report Scope
- CHAPTER NO. 2 : EXECUTIVE SUMMARY
- 2.1. Cloud Access Security Brokers Market Snapshot
- 2.1.1. Cloud Access Security Brokers Market, 2018 - 2032 (USD Million)
- CHAPTER NO. 3 : Cloud Access Security Brokers Market – INDUSTRY ANALYSIS
- 3.1. Introduction
- 3.2. Market Drivers
- 3.3. Market Restraints
- 3.4. Market Opportunities
- 3.5. Porter’s Five Forces Analysis
- CHAPTER NO. 4 : ANALYSIS COMPETITIVE LANDSCAPE
- 4.1. Company Market Share Analysis – 2023
- 4.2. Cloud Access Security Brokers Market Company Revenue Market Share, 2023
- 4.3. Company Assessment Metrics, 2023
- 4.4. Start-ups /SMEs Assessment Metrics, 2023
- 4.5. Strategic Developments
- 4.6. Key Players Product Matrix
- CHAPTER NO. 5 : PESTEL & ADJACENT MARKET ANALYSIS
- CHAPTER NO. 6 : Cloud Access Security Brokers Market – BY By Cloud Deployment Type: ANALYSIS
- CHAPTER NO. 7 : Cloud Access Security Brokers Market – BY By Software Type: ANALYSIS
- CHAPTER NO. 8 : Cloud Access Security Brokers Market – BY By Services: ANALYSIS
- CHAPTER NO. 9 : Cloud Access Security Brokers Market – BY Key Regions Covered: ANALYSIS
- CHAPTER NO. 10 : COMPANY PROFILES
- 10.1. Microsoft Corporation
- 10.1.1. Company Overview
- 10.1.2. Product Portfolio
- 10.1.3. Swot Analysis
- 10.1.4. Business Strategy
- 10.1.5. Financial Overview
- 10.2. McAfee Corp.
- 10.3. Netskope Inc.
- 10.4. Symantec Corporation (Broadcom Inc.)
- 10.5. Palo Alto Networks, Inc.
- 10.6. Forcepoint LLC
- 10.7. IBM Corporation
- 10.8. Oracle Corporation
- 10.9. Proofpoint, Inc.
- 10.10. Bitglass, Inc.
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