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Global Cloud Access Security Brokers Market: Low Barriers to Entry makes Landscape Highly Competitive, finds TMR

Posted on Nov 29, 2016

The global cloud access security brokers (CASB) market is fragmented with the presence of a large number of small-scale and medium-scale companies, finds a report by Transparency Market Research (TMR). The competition is stiff and barriers to entry for new players is low. Some of the main players operating in the space are NetSkope Inc., CloudLock Inc., Adallom, Inc., CipherCloud Inc., Skyhigh Networks, Zscaler, Inc., Bitglass, Inc., and Protegrity USA, Inc. These key companies are expending a lot of energy on developing innovative methodologies and technologies to secure information over the cloud.

The involvement of a large number of small-scale and medium-scale companies, the entry of new companies, and the presence of many leading companies is expected to drive the global market for cloud access security brokers. Expanding at a robust CAGR of 16.7%, the market is expected to achieve a value of US$13.218 bn by 2024.

Software Solutions Thwarting Data Leakage Dominate Market 

Component-wise, the TMR report has segmented the global market for cloud access security brokers into software and services. The software solutions have been again divided into cloud-based and on-premise. The main purpose served by the solutions are cloud data encryption, risk and compliance management, tokenization, data leakage prevention, and control and monitoring. In 2015, the software solutions meant to curb data leakage and for control and monitoring led the market by generating maximum revenue. However, it is the cloud data encryption segment that is predicted to outpace all other segments in terms of growth rate by registering a CAGR of 20.2% during period between 2016 and 2024.

Depending upon the cloud deployment type, the report segments the global market for cloud access security brokers into PaaS, SaaS, and IaaS. Among them, IaaS platforms are forecast to grow at the maximum pace because of their IT delivery capabilities, flexibility, and increased scalability. The SaaS platform led the overall cloud access security brokers market in 2015.

The report also divides the global cloud access security brokers market based on geography into Europe, North America, the Middle East and Africa, Asia Pacific, and Latin America. Among these regions, North America holds a dominant share in the market and is expected to retain its position in the years to come as well. The region accounted for about 30.0% of the overall market revenue in 2015. Europe has been the second largest region in the market.

Rising Instances of Data Theft Boosts Market 

Cloud access security brokers are cloud-based security solution platforms that help in protecting the crucial data of organizations. While the dearth of storage infrastructure and cost-effectiveness of cloud storage has egged organizations to utilize cloud silos for storing data, the alarming increase in data thefts have brought about a dependence on cloud access security brokers. This has boosted the growth of the global cloud access security brokers market.

“Increased concerns relating to security breaches are fuelling the adoption of cloud access security globally. Due to the rapidly changing regulatory environment in the cloud market, cloud storage vendors are increasingly relying on cloud access security brokers to outsource their platforms,” explains the lead analyst of the report.

Although the global cloud access security brokers market is set for significant growth, it is expected to be hampered by a few factors. A lack of awareness about the latest cloud access security solutions is one such factor.

This review is based on the findings of a TMR report titled, “Cloud Access Security Brokers Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016–2024.”

Global cloud access security brokers market has been segmented as:

Cloud Access Security Brokers Market, by Cloud Deployment Type

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

Cloud Access Security Brokers Market, by Components

  • Software
    • Cloud-based
      • Control and Monitoring
      • Risk & Compliance Management
      • Cloud Data Encryption
      • Data Leakage Prevention
      • Tokenization
    • On-premise
      • Control and Monitoring
      • Risk & Compliance Management
      • Cloud Data Encryption
      • Data Leakage Prevention
      • Tokenization
  • Services
    • Consulting
    • System Integration
    • Operation and Maintenance 

Cloud Access Security Brokers Market, by Geography

  • North America
  • Europe
  • Asia-Pacific (APAC)
  • Middle East and Africa (MEA)
  • Latin America

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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