Cloud Access Security Broker Market: Rising Need for Cybersecurity

The market for Cloud Access Security Brokers (CASB) is the area of the bigger cybersecurity marketplace that specializes in offering protection controls and solutions to businesses that use cloud services. By serving as a intermediary between cloud carrier companies and cloud users, CASBs permit organizations to use their protection regulations and controls to statistics and programs hosted at the cloud. To lessen the risks linked with cloud adoption, these solutions provide functions like facts encryption, getting the right of entry to manage, risk detection, and compliance monitoring.

Further, the primary drivers of this market’s growth are the ease with which job tasks can be completed through shadow IT operations, the growing necessity for cloud computing, and the proliferation of cloud-based applications in small and medium-sized enterprises. Furthermore, internalizing records era protection is expensive, which is why outsourcing cloud protection services has emerged as a famous fashion and is propelling the marketplace’s expansion. Furthermore, using facilitating multi-cloud control, the usage of AI and machine-gaining knowledge guarantees the most excellent operational functionality and fosters marketplace growth. Bringing approximately greater protection troubles and favourably impacting cloud get right of entry to security agents. Moreover, the market for cloud protection has been inspired by way of the growth in cyberattacks concentrated on cloud systems.

Moreover, to guide Shadow IT operations in establishments, a cloud gets entry to safety broking (CASB) Shadow IT answer reveals, comprehends, or secures cloud services. An organization makes use of a cloud to get entry to a protection broker to decorate facts safety manipulation. Enterprises can manage various threats even by balancing personal wishes and business enterprise security necessities with the assistance of Shadow IT Solution, a cloud entry to security dealers. This consists of figuring out the cloud environment and cloud apps that an enterprise uses, mapping and identifying them, stopping the download or upload of unsanctioned apps, and stopping facts leakage. Each of these guarantees total business security. For instance, Symantec, which specializes in data-oriented combined nature information security planned a data-centric hybrid enterprise DLP solution integration involving its Data Loss Prevention (DLP) together with CloudSOC cloud access security broker.

Global Adoption Trends

The ability to access and view vital data within a cloud system for improved control, collaboration control, and information rights management is credited with the expansion of large enterprises. Cloud access security brokers enforce data-centric security policies. They stop undesirable activities and unauthorized access by combining data-centric auditing and protection with enterprise digital rights management.

Moreover, the main factor driving the market’s growth is the rising demand for cloud access security brokers among SMEs. Since they lack cloud storage support, many small startups rely on third-party cloud support systems. Sensitive information about employees, finances accounting, and human resources is stored by these companies. Because of their limited financial resources and weak structural foundations, small and medium-sized enterprises cannot afford cloud storage.

End Use Case

Growth in the IT sector has been driven by the increasing importance being attributed to cloud access security broker solutions in this industry as well as in telecommunications. Many organizations are shifting towards the use of cloud-based systems and this is why security for cloud access has become an important aspect that cannot be ignored. It is usually said that the telecommunications industry has the most vulnerabilities when it comes to hacking. For example, Orange Business Services and Netskope collaborated to incorporate the Secure Service Edge (SSE) capabilities into the Orange Telco Cloud platform back in September 2022. They refer to this new technology as carrier-class connectivity. Orange’s telecom cloud customers will benefit from less complex security measures and regularly updated cloud security thanks to the new solution. The Orange telco cloud network is integrated with the Netskope points of presence through this solution.

Market Dynamics and Drivers

The rapid uptake of cloud-primarily based services has given upward thrust to a number of privacy and records protection. Organizations have become conscious of the need to secure and manage sensitive records, even when it is dealt with and stored in the cloud. CASB is used as a protection checkpoint between cloud community customers and cloud-based total packages. They supervise and perform all records security policies and protocols, encompassing alerts, authorization, authentication, and encryption.

Moreover, the demand for CASB is growing exponentially because of the unfolding of cloud-based offerings, and the expansion of cloud platforms. The records environment has elevated dramatically as a result of those developments, making it tougher for the IT branch to keep a watch on network usage developments and ensure the security of employer data. Furthermore, because of CASBs’ numerous cybersecurity, access management, and information safety functions, employer security has found them appealing as cloud adoption has grown.

In addition, hackers have accessed much more information and caused financial damage for many affected companies because there is an increasing number of data breaches across different sectors leading to increased costs. For example, the expected costs of cyber attacks in 2022-2023 have been raised from US$8.44 trillion to US$11.50 trillion.

Figure 1:  Estimated Cost of Cyber Crime, in Usd Trillions, Global, 2022 to 2023

Source: weforum.gov

Key Developments

• In May 2024, Skyhigh Security which is a member of Oracle PartnerNetwork has completed an assessment under the Australian Information Security Registered Assessors Program that included Oracle Cloud Infrastructure as well as Skyhigh Cloud Firewall.

In February 2023, Zscaler acquired Canonic Security, an integrated SaaS supply chain security company. The goal of Canonic’s platform changed to prevent the growing dangers of SaaS supply chain assaults as increasingly more businesses adopt cloud-based totally platforms, permitting users to attach third-party apps and increase their browsers without requiring IT permission.