Cloud Access Security Brokers Market worth 7.51 Bn USD by 2020, According to a New Study on ASDReports
The report, now available on ASDReports, "Cloud Access Security Brokers Market by Solution & Service (Control & Monitoring Cloud Services, Risk & Compliance Management, Data Security, Threat Protection, Professional Service, & Support, Training, and Maintenance Service) - Global Forecast to 2020", the global cloud access security brokers market size to grow from USD 3.34 Billion in 2015 to USD 7.51 Billion by 2020, at a compound annual growth rate (CAGR) of 17.6%.
As the cloud-based application usage has increased among the SMBs and the enterprises, the need for cloud access security brokers solutions and services is also growing rapidly. The major drivers responsible for the growth of the cloud access security brokers market are controlled data loss, real-time monitoring capabilities, increased regulatory enactment, and increased adoption of cloud-based applications.
Cloud Access Security Brokers Market - Global Forecast to 2020
In the solution segment, data security solution would contribute the maximum market share in 2015
The data security solution is the core segment that prevents any kind of data leakage while moving the data from one place to another. The data security solution is widely adopted by the enterprises as it is built on three core pillars comprising encryption, tokenization, and data leakage prevention. This makes the solution a robust one further providing high-end security features to the SMBs, enterprises, and the end-users. Threat protection solution is the fastest-growing segment under the solution segment during the forecast period.
The growing demand for securing the business critical data by the organization is driving the professional service segment in this market
Professional services assist the enterprises in choosing the best possible solutions by understanding their requirement and recommending them the best possible technology for their establishment. The professional service providers offer data security policies to the end users to protect their critical business data and sensitive information hence this segment holds the highest market share in this market space. Support, training, and maintenance service is the fastest-growing segment under the service segment during the forecast period.
The SaaS service model to play a key role in the cloud access security brokers market
SaaS service model is expected to dominate the cloud access security brokers market from 2015 to 2020 with the largest market share, due to growing demand for cloud-based applications. IaaS is expected to play a key role in the cloud access security brokers market and will grow at the highest growth rate during the forecast period as it provides security capabilities on its own infrastructure.
The increased popularity of SaaS service model by various organizations is the key driver driving the North American market
North America is expected to have the largest market share and would dominate the cloud access security brokers market from 2015 to 2020, due to the presence of a large number of security vendors. In Asia-Pacific (APAC), the rapid adoption of the cloud-based technology has created numerous opportunities for the vendors offering cloud access security brokers solutions and services and hence this region is expected to grow at the highest CAGR during the forecast period.
The key players in the cloud access security brokers market include Imperva, Bitglass, CloudLock, CipherCloud, Skyhigh Networks, Netskope, Protegrity, Adallom, Perspecsys, and CloudMask. The key innovators included in the research report comprise Elastica, Palerra, Vaultive, FireLayers, and Palo Alto Networks. These players have adopted various strategies to expand their global presence and increase their market shares.
The report covers detailed information regarding the major factors influencing the growth of the cloud access security brokers market, such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, products and services, key strategies, new product launches, mergers and acquisitions, partnerships, agreements, collaborations, venture funding, and recent developments associated with the endpoint security market.
Source : ASDReports - Market Research - view original press release