Security as a Service Market Growth -Trends and Forecast to 2027
Security as a Service Market Growth Scenario:
The Security
as a Service Market Industry is projected to
reach USD 14.25 billion at a healthy 21.59% CAGR between 2020- 2027 states the
new MRFR’s Security as a Service Market Growth forecast. Security as a service
or SaaS, or SECaaS is an outsourcing model for security management. Defense,
government, healthcare, retail, IT and telecom, oil and gas, BFSI, and others
are some of its end users.
Various factors are fuelling
the demand for the global Security as a Service Market Growth. Such factors, as
revealed by the new MRFR analysis, include the rise in cybercrime activities,
rising trend of mobile devices, growth of sensitive organizational data,
increase in the use of cloud technology, need for more cost-effective and
protected security solutions, strict government regulations, rise in
e-businesses, growing awareness about data security, growing trend of BYOD and
IoT, and increasing adoption of managed security practices.
On the contrary, the
on-going COVID-19 impact, the dynamic & increasing nature of cybercrime,
reluctance to share sensitive data, accessibility of security services that are
free of cost, and hesitation by organizations to cloud-based security may limit
the global Security as a Service Market Growth growth over the forecast period
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Competitive Outlook
Leading contenders profiled in the global Security
as a Service Market Growth report include SecureWorks (US), Verizon (US),
International Business Machines Corporation (US), Radware Ltd (Israel), Alert
Logic Inc. (US), Zscaler Inc. (US), CipherCloud (US), Panda Security (Spain),
Fortinet Inc. (US), Cisco Systems Inc. (US), Trend Micro Incorporated (Japan),
Intel Corporation (US), and Symantec Corporation (US).
Segmentation:
·
The
security-as-a-service market has been bifurcated on the basis of vertical,
organization size, application area, and component.
·
Based on the
application area, the global Security as a Service Market Growth is segmented
into web security, database cloud security, email security, network security,
and others. Of these, the network security will dominate the market over the
forecast period.
·
Based on
organization size, the global Security as a Service Market Growth is segmented
into large enterprise and SME. Of these, the SME will have a major share in the
market over the forecast period.
·
The
security-as-a-service market by component has been segmented into service and
solution. The solution segment is again segmented into data loss prevention,
email encryption, intrusion detection, and prevention systems, identity access
management, security information and event management, endpoint protection, and
others. The service segment is again segmented into managed services and
professional services. Of these, the services will lead the market over the
forecast period.
·
Based on
vertical, the global Security as a Service Market Growth is segmented into
defense, government, healthcare, retail, IT and telecom, oil and gas, BFSI, and
others. Of these, the BFSI and healthcare will have stay at the forefront in
the market over the forecast period.
Regional Analysis:
By region, the global
SECaaS market covers the growth opportunities and recent trends across Europe,
North America, the Asia Pacific (APAC), & the Rest of the World (RoW).
Among these, North America will lead the market over the forecast period.
Increasing use of cloud-based services, technological advances, presence of
leading providers, the growing trend of IoT and BYOD, and increasing external
and internal threats are adding to the global Security as a Service Market
Growth growth in the region. The US, Mexico, and Canada have the utmost share
in the market.
In Europe, the global Security
as a Service Market Growth is predicted to have sound growth over the forecast
period. An increase in cyber-attacks, rise in hosted servers, presence of large
enterprises, rise in data theft, and increasing adoption of cloud-technology by
healthcare industry verticals and BFSI in Germany are adding to the global Security
as a Service Market Growth growth in the region.
In the APAC region, the Security
as a Service Market Growth is predicted to grow at a fast pace over the
forecast period. Need for data protection, increasing cyber-attacks, complete
adoption of cloud-based security by large enterprises, vast customer base, the
constant expansion of economies in the IT, government, education, and
manufacturing sectors, and increase in adoption of cloud computing and cloud
technology providers in Japan, India, and China are adding to the global Security
as a Service Market Growth growth in the region.
In the RoW, the global Security
as a Service Market Growth is predicted to have steady growth over the forecast
period.
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Table
of Contents:
1
Executive Summary
2
Scope Of The Report
2.1
Market Definition
2.2
Scope Of The Study
2.2.1
Research Objectives
2.2.2
Assumptions & Limitations
2.3
Markets Structure
3
Market Research Methodology
3.1
Research Process
3.2
Secondary Research
3.3
Primary Research
3.4
Forecast Model
4
Market Landscape
Continued….
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