Kenneth Research, in its repository of market research reports, have recently added a report on the Global Cloud Access Security Brokers (CASBs) Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The Global Cloud Access Security Brokers (CASBs) Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical/Energy industries, creating a huge demand for products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Global Cloud Access Security Brokers (CASBs) Market valued approximately USD 3.8 billion in 2016 is anticipated to grow with a healthy growth rate of more than 17.80% over the forecast period 2018-2025. Increasing penetration of services based on cloud, features like real-time monitoring apps and capabilities to control the data loss are the major factors which are driving the growth in the Global Cloud Access Security Brokers (CASBs) Market. There is a risk of malware is associated with the data stored in the cloud and this works as a constraint in the market growth. A cloud access security broker (CASB) is a software that facilitates between the infrastructure of an organization and infrastructure of a cloud vendor. For many organizations, security apprehensions and compliance hinder the acceptance of the cloud-based services. Therefore, the market for CASB is growing. The CASB have a variety of functions out of which some main functions are visibility, data security, compliance, and threat protection. The CASB helps in improving data security by providing visibility into applications and data in the cloud in an organization which includes the data is being accessed by users as well as the device that is being used by those users. CASB impose policies for corporate security to control over sensitive data access and also ensures the proper data encryption. CASB makes sure that the cloud usage fulfills industry regulations. Moreover, the software as a service provider access to some business functionality at low operating expenses. Thus, the implementation of software as a service is increasing among businesses.
The regional analysis of Global Cloud Access Security Brokers (CASBs) Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share. Whereas, owing to the countries such as China, Japan, and India, Asia Pacific region is anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Cloud Deployment:
Software as a Service
Platform as a Service
Infrastructure as a Service
Healthcare and Life Sciences
Retail and Wholesale
Telecom And IT
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
The industry is seeming to be fairly competitive. Some of the leading market players include Imperva Inc, Skyhigh Networks, CloudLock Inc., Zscaler, Inc., Elastica, Bitglass Inc, CipherCloud Inc, Protegrity USA, Inc., Netskope, Adallom and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
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Target Audience of the Global Cloud Access Security Brokers (CASBs) Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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