Cloud Access Security Broker Market Analysis, Industry Trends, Size, Share, Business Trends, Opportunities, Challenges and Impact of COVID

Cloud Access Security Broker Market Scope

The global cloud access security broker market is set to be driven by adoption of cloud applications by enterprises, rise in data thefts, and real-time monitoring of processes. Huge demand for cloud security solutions to protect content delivery network and DDoS attacks can drive market demand significantly. Huge demand by small and medium enterprises for preventing loss to their systems through unauthorized access to data can augur favorably to the market.

CASBs can protect data from leaking through multiple access authorization steps for verification and making changes to the database. Collaboration and sharing of resources with third-party software without exposing intellectual property and financial records can bode well for the market. Detection of threats through deep inspection and blocking of executable files being stored on cloud applications will encourage market demand.

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COVID-19 Impact

The COVID-19 pandemic has positively impacted the cloud access security broker (CASB) market owing to remote work and work from home policies enforced by governments to curb the disease. Protection of data and users through key management and verification can drive market demand significantly. Use of telecomputing for managing workloads and handling corporate data can bode well for the market.

Segmentation

SaaS Delivery Model Segment to Dominate Market

The SaaS delivery model is set to dominate the global market due to cloud applications being adopted by enterprises for maintaining the integrity of data. Cloud access security brokers can minimize data loss through regular monitoring of services and applications.

Data Security Solution to be Key in Global Market

Data security solutions is expected to be pivotal in capturing market share owing to increasing databases and complex applications. Adherence to compliances outlines by governments for protecting client data and protecting it despite the location can drive segment growth. It prevents data loss during transfer from folders.

Training Services to Rule Market Share

Training services are likely to gain a huge market share owing to the cloud being relatively new and need for technical support to guide administrators. Community portals, live chat, online support, and other options are likely to boost the segment demand.

Regional Analysis

North America to Dominate Global Market

North America is expected to dominate the global cloud access security broker market owing to presence of various cloud vendors and inclinations of various enterprises towards the cloud. Shift of databases and applications to the cloud amid rise of virtualization of assets can drive regional market growth. Adoption of platform as a service (PaaS) and software as a service (SaaS) model is anticipated to drive regional demand.

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Competitive Analysis 

Imperva (U.S.), Skyhigh Networks (U.S.), CipherCloud (U.S.), CloudLock (U.S.), and Bitglass (U.S.) are key players in the global cloud access security broker market. 

Industry News

McAfee Corporation, a cloud access security broker, has launched MVISION Unified Cloud Edge (UCE) for providing users of Dynamics 365 an additional layer of security and control.

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