Cloud Access Security Broker Market was at $6.8 billion in 2021 and growing at a CAGR of 18.8% by 2031
WILMINGTON, DE, UNITED STATES, May 7, 2024 /EINPresswire.com/ — The Cloud Access Security Broker Market Size was at $6.8 billion in 2021, and is estimated to reach $37.2 billion by 2031, growing at a CAGR of 18.8% from 2022 to 2031.
The governance, risk, and compliance segment is expected to witness the highest growth in the upcoming years, owing to large organizations having complex and large-scale security and policy management needing top-of-the-line cloud access security broker equipment to maintain internal privacy standards.
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A Cloud Access Security Broker (CASB) serves as a critical security component for organizations, providing a bridge between users and cloud service providers to enforce security policies. Here’s an overview of the role of Cloud Access Security Broker (CASB) and factors driving the growth of the Cloud Access Security Broker (CASB) market:
Cloud Access Security Broker (CASB) act as a centralized control point for enforcing security policies across cloud applications, ensuring that authorized and unauthorized applications are secure. This includes implementing authentication, encryption, malware detection, and other security measures to protect sensitive data.
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Cloud Access Security Broker (CASB) offer flexible enterprise solutions that can integrate multiple security policies seamlessly. This includes authentication, credential mapping, encryption, and other security measures, providing comprehensive protection for cloud applications and data.
The shift towards remote work during the COVID-19 pandemic has accelerated the adoption of cloud solutions and remote access technologies. This increased reliance on cloud services has driven demand for Cloud Access Security Broker (CASB) to ensure the security of remote access and data transmission.
Implementing and maintaining Cloud Access Security Broker (CASB) platforms can involve significant upfront costs and ongoing maintenance challenges. This may deter some organizations from investing in Cloud Access Security Broker solutions.
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The integration of advanced technologies such as machine learning and data analytics with Cloud Access Security Broker (CASB) solutions presents lucrative opportunities for market expansion. These technologies can enhance threat detection, improve policy enforcement, and streamline security management processes.
Cloud Access Security Broker (CASB) play a crucial role in securing cloud applications and data in an increasingly remote and cloud-centric business environment. While challenges such as installation costs and maintenance persist, the growing demand for remote work solutions and the integration of advanced technologies are expected to drive significant growth in the Cloud Access Security Broker (CASB) market in the coming years.
The key players profiled in the cloud access security broker market analysis are Broadcom Inc., Cisco Systems, Inc., iboss Cybersecurity, Lookout, Microsoft Corporation, Netskope, Palo Alto Networks Inc, Proofpoint Inc, Skyhigh Networks, and Zscaler, Inc.
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