Cloud Access Security Broker Market Segmentation by Verticals (Healthcare, Government, Manufacturing, IT & Telecommunication, and Others); and by Service Model (Infrastructure as a Service, Software as a Service, and Platform as a Service)-Global Demand Analysis & Opportunity Outlook 2031

Global Cloud Access Security Broker Market Highlights Over 2022 - 2031

The global cloud access security broker market is estimated to grow at a ~14% CAGR over the forecast period, i.e., 2022–  2031. Moreover, the market registered a revenue of approximately USD 8.0 billion in 2021. The growth of the market can be attributed to the rising number of data breaches. Furthermore, many organizations are adopting cloud-based applications that require data security and network security. According to the Identity Theft Resource Center, 2021 Annual Data Breach Report, there has been an increase in the number of data breaches by 68 percent in 2021 as compared to 2020. In addition, the cloud access security broker service provides warnings related to hazardous activities and many more services, such as monitoring user activity. Additionally, the use of organizations’ data remotely is expected to contribute to the growth of the global cloud access security broker market.

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The global cloud access security broker market is segmented by service model into infrastructure as a service, software as a service, and platform as a service. Out of which, the software as a service segment is anticipated to hold the largest share over the forecast period in the global cloud access security broker market. This can be attributed to the increase in the usage of cloud-based applications in organizations to store data. Furthermore, the installation of software is an easy and secure solution for cloud storage.

Global Cloud Access Security Broker Market Regional Synopsis

Regionally, the global cloud access security broker market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. On the strength of the high cost of breaches, the market in the North America region is anticipated to hold the largest share by the end of 2031. Moreover, the market in the North America region is estimated to witness noteworthy growth over the forecast period on the back of a rise in spending on research and development. Furthermore, according to the Congressional Research Service, the spending on research and development in the United States was 105 times higher in 2019 than it was in 1955.

Market Segmentation

Our in-depth analysis of the global cloud access security broker market includes the following segments:

By Verticals

• Healthcare

• Government

• Manufacturing

• IT & Telecommunication

•  Others

 By Service Model

• Infrastructure as a Service

• Software as a Service

• Platform as a Service

Growth Drivers and Challenges Impacting the Growth of the Global Cloud Access Security Broker Market

Growth Drivers

• Rise in the number of data breaches

• Increase in the adoption of cloud-based applications by organizations

Challenges

• Lack of awareness for these tools among the organizations

• High cost of the cloud access security broker service

Key Companies Dominating the Global Cloud Access Security Broker Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global cloud access security broker market that are included in our report are Symantec (Broadcom, Inc.), Zscaler, Inc., Netskope, Inc., Cisco Systems, Inc., Bitglass, Inc., Imperva., Protegrity Inc., CipherCloud (Thales), CloudMask, Microsoft Corporation, and others.

Latest Developments in the Global Cloud Access Security Broker Market:

• 26 May 2022: Zscaler, Inc., partnered with Siemens to  develop a proven solution that combines the Zscaler Zero Trust ExchangeTM cloud security platform and Siemens' devices to assist customers with Operational Technology (OT) infrastructures in accelerating their secure digital transformation initiatives.

• 24 May 2022:  NetSkope, Inc., announced the release of a new endpoint data loss prevention (EDLP) solution that will protect data for private apps. The new solution is intended to supplement the Netskope Intelligent SSE platform by safeguarding data in software-as-a-service (SaaS), infrastructure-as-a-service (IaaS), private applications, websites, emails, and endpoint devices.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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