Tuesday, 26 April 2016
Global Cloud Access Security Brokers Market Expands due to Rising Demand for Better Data Security
Cloud access security brokers (CASB) are a form of cloud-hosted or on-premises software deployed in organizations to protect critical data. The software acts like a control point that supports continuous visibility, threat protection, and compliance, and ensures the security of cloud services. The sheer volume of data generated on cloud every day has exposed companies to an increasing threat of data theft and security breaches. Such compliance and security concerns often deter companies from adopting cloud solutions. CASBs have thus become indispensable for organizations keen on adopting cloud applications.
Following the advent of cloud, IT companies are leveraging the opportunities to deliver applications cost-effectively and reliably by investing in various cloud computing resources. Engineering and development teams were the first in line to enjoy the benefits of infrastructure-as-a-service following officially sanctioned IT-driven projects. The next wave of cloud came with the deployment of software-as-a-service (SaaS) across SMBs. SaaS provided complete business functionality at a lower cost, thus leading to a positive influence on the growth of the global CASB market due to the rising security concerns.
Global CASB Market to Exhibit 16.7% CAGR between 2016 and 2020
A report on the global CASB market published by Transparency Market Research pegs its value at US$3.4 bn in 2015 and by 2024, the market, according to the report, is poised to reach US$13.2 bn. If the aforementioned figures hold true, the global CASB market will exhibit an impressive CAGR of 16.7% between 2016 and 2023. The rapid proliferation of CASB across small and medium-sized businesses (SMBs) has been a key contributor to the rising demand for cloud access security broker solutions. This in turn can be attributed to the flexible characteristics of CASB solutions.
The Multiple Deployment Models of CASB
While an increasing number of CASBs are leveraging log data from web proxies and firewalls to gain better visibility about cloud usage, the major architectures that CASB solutions use to deploy policies in cloud services are APIs and proxies. In the proxy mode, a CASB is positioned between the cloud service and the end user to monitor traffic and enforce the policies in-line such as encryption and access control. Another mode of deploying CASBs is direct integration to cloud providers who have exposed their policy controls and events through their API. Based on the cloud provider’s API, a CASB gains access to define policies and view end user activity.
Global CASB Market Expects Consolidation in Near Future
The global market for cloud access security brokers is highly competitive due to the presence of a large number of enterprises. However, in the next five years, a few of these vendors may exit the market, hence leading the market towards consolidation. Operators who have already started gaining customer traction are more likely to stay in the market and will naturally gain a competitive advantage over their peers.
The major companies operating in the market at present, such as Skyhigh Networks, NetSkope Inc., Adallom, Inc., CloudLock Inc., Bitglass, Inc., Zscaler, Inc., CipherCloud Inc., and Protegrity USA, Inc., are focusing on innovating technologies to offer enhanced security to data on cloud.