Conditional Access: Session Controls for Exchange Online (Outlook on the Web)
Expand the cloud app Session Controls area to be able to apply OWA policies on-the-fly.
Allow admins to do things like block download access unless the user is within a trusted location or on a compliant or domain joined device.
Effectively this, but without the need for ADFS: https://technet.microsoft.com/en-us/library/dn530630(v=exchg.150).aspx
Combining that with the SharePoint session controls will result in a more complete browser-only experience for unmanaged/untrusted devices.
Thanks for the feedback. This feature is now in public preview : https://techcommunity.microsoft.com/t5/Outlook-Blog/Conditional-Access-in-Outlook-on-the-web-for-Exchange-Online/ba-p/267069
Todd Johnson commented
Yousef Hanoun commented
Any update as SPO limited access feature released
And it shows on Azure AD portal in Conditional access under session control it indicates that both EXO and SPO is the only cloud app compatible !