The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Cloud Access Security Broker (CASB) Global Market Report 2024, the cloud access security broker (CASB) market is expected to show significant growth in the forecast period.

The cloud access security broker (CASB) market has been experiencing significant growth, driven by increasing cybersecurity concerns, regulatory compliance requirements, and the shift towards remote work environments. This blog delves into the current market size, future projections, key drivers, and emerging trends in the CASB market.

Current Market Size and Growth

Recent Growth

• Market Size Increase: The CASB market grew from $11.47 billion in 2023 to $13.61 billion in 2024.
• CAGR: This represents a compound annual growth rate (CAGR) of 18.7%.

Key Growth Drivers

• Cybersecurity Concerns: Rising threats necessitate robust security solutions.
• Regulatory Compliance: Increased regulations drive the need for compliance solutions.
• Remote Work: The shift to remote work environments amplifies the need for secure cloud access.
• Complex Cloud Environments: Managing complex cloud infrastructures requires specialized security.
• Mobile Device Proliferation: Growing use of mobile devices in business operations increases security needs.

Future Market Projections

Expected Growth

• Market Size Projection: The CASB market is expected to reach $26.95 billion by 2028.
• CAGR: Anticipated CAGR of 18.6% during the forecast period.

View More On The Cloud Access Security Broker (CASB) Market Report 2024 – https://www.thebusinessresearchcompany.com/report/cloud-access-security-broker-casb-global-market-report

Key Drivers for Future Growth

• Data Privacy Regulations: Ongoing compliance with evolving data privacy laws.
• Insider Threat Prevention: Increasing focus on preventing insider threats.
• Enhanced Visibility: Demand for granular visibility and control over cloud environments.
• Compliance Automation: Automation of compliance and governance processes.
• Real-Time Analytics: Rising demand for real-time threat detection and response.

Major Trends

• Cloud-Native Solutions: Development of solutions designed specifically for cloud environments.
• Data Loss Prevention (DLP): Focus on preventing data breaches and loss.
• Cross-Platform Integration: Integration of CASB solutions across various platforms.
• API Security: Enhancing security for APIs in cloud environments.
• Zero Trust Architecture: Adoption of zero trust security models.
• Collaboration Security: Ensuring security in cloud-based collaboration tools.

CASB Market Surge with Cloud-Based Apps

Increased Adoption

• Cloud Apps Growth: Rising number of cloud-based applications, especially in small and medium-sized organizations.
• Survey Insights: In December 2021, 90% of respondents in a survey indicated their organizations use cloud-based applications.
• Future Trends: Nearly half of the participants expected to move 50% or more of their apps to the cloud in the coming year.

Market Impact

• Regulating Cloud Usage: CASB solutions help in regulating cloud consumption across devices and apps.
• Protecting Data: They protect against attacks and ensure the safety of information.

Key Industry Players

Major Companies

• Protegrity Inc.
• Skyhigh Security
• Microsoft Corporation
• Cisco Systems Inc.
• Forcepoint LLC
• Broadcom Corporation
• Oracle Corporation
• Happiest Minds
• Mimecast Limited
• SentinelOne Inc.
• Splunk Inc.
• Sonrai Security
• Palo Alto Networks Inc.
• Qualys Inc.
• Trend Micro Inc.

Technological Trends in the CASB Market

Innovation and Integration

• IDaaS Technology: In May 2022, Censornet launched integrated Identity as a Service (IDaaS) technology, enhancing control over user access.
• Comprehensive Solutions: The integration with web protection, cloud application security, email security, and multi-factor authentication provides a robust security platform.

Strategic Acquisitions

• Proofpoint and InteliSecure: In March 2021, Proofpoint acquired InteliSecure for $62.5 million to enhance its CASB services.
• Enhanced Service Delivery: This acquisition strengthens Proofpoint’s capacity to support its channel partner ecosystem and improve competitiveness.

Market Segmentation

By Solution

• Control and Monitoring Cloud Services
• Risk and Compliance Management
• Data Security
• Threat Protection
• Other Solutions

By Service

• Infrastructure as a Service (IaaS)
• Platform as a Service (PaaS)
• Software as a Service (SaaS)

By Enterprise Size

• Large Enterprises
• Small and Medium Enterprises (SMEs)

By Application Areas

• Governance, Risk, and Compliance
• Data Security
• Application Security
• Other Application Areas

By End-Use

• Banking, Financial Services, and Insurance (BFSI)
• Government
• Healthcare
• IT and Telecom
• Manufacturing
• Retail and Consumer Goods
• Education
• Other End-Users

Regional Insights

• North America: The largest region in the CASB market in 2023.

Conclusion
The cloud access security broker (CASB) market is poised for rapid growth, driven by increasing cybersecurity needs, regulatory compliance, and the proliferation of cloud-based applications. As businesses continue to migrate to the cloud, the demand for robust CASB solutions will only intensify, making it a critical component of modern enterprise security strategies. With key players investing in technological innovations and strategic acquisitions, the CASB market is well-positioned to meet the evolving security needs of businesses worldwide.

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The Cloud Access Security Broker (CASB) Global Market Report 2024  provides an in-depth analysis on the cloud access security broker (CASB) market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the cloud access security broker (CASB) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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