The global cloud access security brokers market will expand at a CAGR of 16.7% during the period between 2016 and 2024, according to a new report by Transparency Market Research. The overall market was worth US$3,371.4 mn in 2015 and is expected to reach a valuation of US$13,218.5 mn by 2024.
Cloud access security brokers or CASB refer to cloud-based security solution platforms implemented to protect the critical data of enterprises. While the lack of storage infrastructure has led organizations to store information in cloud silos, the rising incidents of data thefts have increased the importance of cloud access security brokers. This has boosted the growth of the global cloud access security brokers market.
