Global Cloud Access Security Broker Market Size study & Forecast, by Component (Solution, Services), by Enterprise Size (Large Enterprise, SMEs), by Application Areas (Governance, Risk, and Compliance, Data Security, Application Security, Others), by Indu

Global Cloud Access Security Broker Market Size study & Forecast, by Component (Solution, Services), by Enterprise Size (Large Enterprise, SMEs), by Application Areas (Governance, Risk, and Compliance, Data Security, Application Security, Others), by Industry Vertical (IT and Telecom, BFSI, Healthcare, Others) and Regional Analysis, 2023-2030

Global Cloud Access Security Broker Market is valued at approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. Cloud Access Security Broker (CASB) is a security solution that acts as an intermediary between an organization's on-premises infrastructure and cloud services. It assists organizations extend their security policies and controls to the cloud and ensures that sensitive data remains secure as it moves between the organization's network and various cloud applications. The key factors driving the market growth are the growing adoption of cloud-based applications, rising demand for remote working and automation trends, and growing concerns about data security, privacy, and compliance that are anticipated to support the market growth.

Additionally, the growing adoption of cloud-based applications has significantly contributed to the growth of the Cloud Access Security Broker (CASB) Market. As organizations migrate their data and applications to the cloud, there is an increased need for robust data protection measures. CASBs offer encryption capabilities, ensuring that sensitive data remains secure both in transit and at rest. Thus, the rising adoption of cloud-based applications is anticipated to support market growth. According to Statista, in 2020, the global cloud applications market was valued at USD 133.6 billion, and it is anticipated to reach USD 168.6 billion by 2025. Moreover, the rising awareness of the risks associated with cloud services, and the growing adoption of the Pay-As-You-Go model are anticipated to create lucrative opportunities for the market over the projected period. However, the lack of awareness and security concerns stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Cloud Access Security Broker Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the growing concerns about data security and privacy, growth of remote work and the prevalence of BYOD policies, and the widespread adoption of cloud services among businesses in the region. Whereas, the Asia Pacific is expected to grow with the highest CAGR over the forecast period, owing to factors such as the increase in cloud adoption across enterprises, rising cybersecurity concerns, growing collaborations between CASB vendors and other cybersecurity solution providers, and increasing trend of remote and mobile workforces.

Major market player included in this report are:
Netskope
Palo Alto Networks Inc
Lookout Inc
Proofpoint Inc
Microsoft Corporation
Broadcom Inc.
Cisco Systems, Inc.
Zscaler, Inc.
iboss Cybersecurity
Musarubra US LLC

Recent Developments in the Market:
 In February 2022, Cato Networks introduced Cato CASB, the Cloud Access Security Broker, as part of its SASE platform, delivering actionable value in less than 60 minutes. The Cloud Application Catalog complements this offering, making Cato the fastest and most user-friendly solution for handling the risk associated with cloud application data. By launching Cato CASB, the company extends the essential advantages of a genuine SASE platform to effectively address and mitigate risks associated with cloud applications.

Global Cloud Access Security Broker Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered – Component, Enterprise Size, Application Areas, Industry Vertical, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component:
Solution
Services

By Enterprise Size:
Large Enterprise
SMEs

By Application Areas:
Governance, Risk, and Compliance
Data Security
Application Security
Others

By Industry Vertical:
IT and Telecom
BFSI
Healthcare
Government and Public Sector
Retail
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Netskope
Palo Alto Networks Inc
Lookout Inc
Proofpoint Inc
Microsoft Corporation
Broadcom Inc.
Cisco Systems, Inc.
Zscaler, Inc.
iboss Cybersecurity
Musarubra US LLC

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