The global Cloud Access Security Brokers market size is projected to reach US$ 36770 million by 2027, from US$ 7341 million in 2020, at a CAGR of 25.8% during 2021-2027.
A cloud access security broker (CASB) is a software tool or service that sits between an organization's on-premises infrastructure and a cloud provider's infrastructure. A CASB acts as a gatekeeper, allowing the organization to extend the reach of their security policies beyond their own infrastructure.
Global Cloud Access Security Brokers key players include Palo Alto Networks, IBM Managed Cloud Services, Forcepoint, Imperva, Inc., Symantec Corporation, etc. Global top five manufacturers hold a share over 30%.
North America is the largest market, with a share about 40%, followed by China, and Europe, both have a share about 40 percent.
In terms of product, SaaS is the largest segment, with a share nearly 45%. And in terms of application, the largest application is BFSI, followed by Manufacturing, Government, Healthcare, etc.
Complete business functionality can be accessed through SaaS at lower operating costs. This has supported the deployment of SaaS-delivered services significantly across SMBs. The rising adoption of the cloud has raised security concerns, leading to a positive influence on the growth of the global CASB market. Governing bodies continually revamp regulations, making it difficult for cloud storage vendors to manage cloud security platforms. Thus, the outsourcing of security solutions has become the foremost trend and is further driving the CASB market. However, a lack of awareness about security pertaining to the use of cloud technologies serves as a constraint for the CASB market.
In the competitive analysis section of the report, leading as well as prominent players of the global Cloud Access Security Brokers market are broadly studied on the basis of key factors. The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2016-2021. It also offers detailed analysis supported by reliable statistics on price and revenue (global level) by player for the period 2016-2021.
Ans. In terms of product, SaaS is the largest segment, with a share nearly 45%.