New York, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cloud Access Security Broker (CASB) Global Market Report 2023" - https://www.reportlinker.com/p06479752/?utm_source=GNW
, Censornet, Zscaler Inc., Vaultive Inc., Fortinet Inc., Oracle Corporation, Happiest Minds, and VMware inc.
The global cloud access security broker (CASB) market is expected to grow from $9.66 billion in 2022 to $11.47 billion in 2023 at a compound annual growth rate (CAGR) of 18.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The cloud access security broker (CASB)market is expected to reach $22.47 billion in 2027 at a CAGR of 18.3%.
The cloud access security broker (CASB) market includes revenues earned by entities by offering managed services, support and maintenance, and professional services.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
A cloud access security broker (CASB) refers to a software program or application that serves as a conduit across an organization’s premises or off-site network and a cloud provider’s infrastructure to evaluate cloud traffic and enhance the reach of its security rules. A CASB is used to regulate cloud consumption across devices and cloud applications, protect against threats, and help assure regulatory compliance and data protection.
North America was the largest region in the cloud access security broker (CASB) market in 2022. The regions covered in cloud access security broker (CASB) report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main solutions of cloud access security broker (CASB) are control and monitoring cloud services, risk and compliance management, data security, threat protection, and others.Control and monitoring cloud services is the practice of keeping an eye on and boosting productivity when using any number of privately or publicly accessible clouds.
It is used as it enables IT to determine which cloud services are utilized by every employee of the company.The services offered are infrastructure as a service, platform as a service, and software as a service for large enterprises and small and medium enterprises (SMEs).
The cloud access security broker (CASB) is applicable in governance, risk, and compliance, data security, application security, and others by banking, financial services, and insurance, government, healthcare, it and telecom, manufacturing, retail and consumer goods, education, and others.
The growing number of cloud-based apps in small and medium-sized organizations is expected to propel the growth of the cloud access security broker (CASB) market in the coming future.Cloud-based apps are software that consumers access largely over the internet, implying that at least a portion of it is administered by a server rather than the users’ local workstations.
The increasing number of cloud-based apps in small and medium-sized organizations expands the cloud access security broker (CASB) market as it is used in regulating cloud consumption across devices and cloud apps, protecting against attacks, and safety and safeguarding information. For instance, in December 2021, according to The Cloud in 2021, a survey report conducted among 2,834 respondents from globe conducted by O’Reilly Media Inc., a US-based learning company, 90% of the respondents in the survey report indicated that their organizations are using cloud-based applications. Additionally, nearly half (48%) of survey participants reported they anticipate moving 50% or more of their apps to the cloud in the upcoming year, while 20% of companies were expected to move to the cloud entirely. Therefore, the growing number of cloud-based apps in small and medium-sized organizations is driving the cloud access security broker (CASB) market.
Technological innovations are the key trend gaining popularity in the cloud access security broker (CASB) market.Major companies operating in the cloud access security broker (CASB) market are focused on developing innovative technologies to strengthen their position in the market.
For instance, in May 2022, Censornet, a UK-based company that offers cloud access security broker services and advanced threat protection, launched integrated identity as a service (IDaaS) technology into an intelligent cybersecurity platform.The launch expands its service to organizations and allows them complete control over user access via integration with its existing Web Protection, Cloud Application Security (CASB), Email Security, and Multi-Factor Authentication (MFA) solutions.
The combination of IDaaS with Censornet’s intelligent security platform provides sophisticated rules that regulate who, when, and from where permission for what apps is given.
In March 2021, Proofpoint, a US-based company that offers cloud access security broker (CASB) service and software as a service and products acquired InteliSecure, Inc. for $62.5 million in cash. Through the acquisition, Proofpoint’s capacity to support the service delivery of its extensive channel partner ecosystem and raise partners’ competitiveness by offering methods and expertise from working with numerous suppliers is strengthened. This expansion adds about 150 new people to Proofpoint’s expanding global organization. To better serve the requirements of the channel, Proofpoint would aggressively implement efficient procedures in associate programs and partnerships. IntelliSecure, Inc. is a company that offers a portfolio of information and network security services, which includes critical asset protection, data-loss prevention, etc.
The countries covered in the cloud access security broker (CASB) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The cloud access security broker (CASB) market research report is one of a series of new reports that provides cloud access security broker (CASB) market statistics, including cloud access security broker (CASB) industry global market size, regional shares, competitors with an cloud access security broker (CASB) market share, detailed cloud access security broker (CASB) market segments, market trends and opportunities, and any further data you may need to thrive in the cloud access security broker (CASB) industry. This cloud access security broker (CASB) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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