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Cloud Access Security Broker Market Segmented By Service model such as Infrastructure as a service, Platform as a service and Software as a service with Applications such as Threat Detection, Compliance Management, Data Protection, Data encryption, Control and monitoring services, Data loss prevention
The cloud access security broker market is growing significantly due to the rising adoption of cloud based applications. There has been rise in the usage of cloud based applications in various businesses as these are less costly and can be accessed on real time basis.
Cloud access security broker solutions are used to provide data security, compliance management, network management, and other monitoring and controlling solutions to cloud based applications. These solutions are also used for data leakage prevention and cloud data encryption.
The cloud access security brokers are the solutions that are cloud based and on-premises based solutions used to combine and implement enterprise security policies such as single sign-on service, authentication, credential mapping, encryption, tokenization, malware detection, device profiling and others.
Enterprises at all level, are adopting cloud computing technology for certain benefits such as cost cutting, but security is a big challenge that faced by these enterprises while implementing cloud based business applications. Large enterprises are continuously adopting cloud access security broker platform and this trend will increase in next five years with the adoption by small and medium enterprises.
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The major factor driving the adoption of cloud access security brokers is the rising concern among enterprises for the security of cloud based applications. Many organizations are moving towards the adoption of cloud technology, due to which they are in a need of strong network security, data security and threat management solutions that can be easily managed, identify threat, customized and provides security without control of any physically-oriented elements such as hardware. Other driving factor for cloud access security brokers is increasing demand for real-time security.
The key challenge in the cloud access security broker market is the limited awareness of CASB solutions for cloud based environment. This approach is still in its introductory phase due to which many organizations do not know about its benefits and usage. There are limited number of companies that are using cloud access security broker solution for threat management, compliance management and for visibility of data. Moreover, there are very less number of vendors providing cloud access security brokering solutions due to which it is not cost-effective.
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In September 2016, Oracle acquired Palerra, a cloud access security broker. This acquisition will help Oracle to expand its identity cloud services with Palerra to provide cloud security automation platform to the clients.
In June 2016, VMWare has partnered with five cloud access security brokers named as Blue Coat Systems, CloudLock, Netskope, Palo Alto, and SkyHigh networks. The integration of these five companies will help VMWare to provide collaborative solution for mobile, cloud security and secure digital workspaces from cloud.
In February 2016, Sookasa, cloud access security broker has entered into the partnership with Microsoft Office 365. This partnership will allow enterprises to identify security risk and help those enforcing data loss prevention policies on Office 365 platform, Microsoft OneDrive and Outlook.
In Cloud access security broker market there are many vendors some of them are Palo Alto networks, Oracle, SKyhigh networks, Blue Coat systems, Cloud Lock, Netskope, CipherCloud and others
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Presently, North America is holding the largest market share for cloud access security brokers due to high adoption of cloud computing technologies among enterprises. The adoption of other service models such as platform as a service and software as a service is also impacting the market for cloud access security broker in a positive manner. Companies such as Blue Coat systems and Oracle are also working towards the development of cloud access security broker platforms with the partnerships and acquisitions in this market to enhance market opportunities.
In Europe region, the market for cloud access security broker is witnessing high growth rate due to the increasing demand for data loss prevention and security solutions without hardware maintenance.
The Asia Pacific region is following the Europe region in cloud access security broker market. This market is expected to have the highest growth rate in coming years due to the adoption of security services and the growing adoption of cloud based business applications.
Cloud access security broker Market Segments
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
