Security as a Service Market Research Report, Component (Solution and Service), Application Area (Network, Email, and Other Security), Organization Size (SMEs and Large Enterprises), Vertical (BFSI, IT and Telecom, and Others) – Global Forecast till 2023
The intensification of threats in the IT sector has initiated the development of a slew of solutions that can safeguard data and contain the breaches. Market reports connected with information and communication technology industry have been offered by Market Research Future which creates reports on other industry verticals that intends to analyze the current market scenarios better. The market for security as a service is projected to expand with a CAGR of 21.59% and attain a market valuation of USD 14.25 billion in the forecast period.
The need to have a secure outsourcing model for security is a key factor that is promoting the development of the market for security as a service. The implementation of cloud-based security globally has increased the prospects for the security as a service market. The escalation in cybersecurity threats is also considered as an important motivator of the demand for the market in the coming years. Improved quality of internet networks is estimated to motivate the growth of the security as a service market.
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The segmentation of the security as a service market is done on the basis of application area, vertical, component, and organization size. On the basis of component, the security as a service market is segmented into solution and service. By solution, the market is additionally segmented into security information and event management (SIEM), endpoint protection, identity access management (IAM), intrusion detection and prevention systems (IDS/IPS), data loss prevention (DLP), email encryption, and others. Based on service, the service as a service market is segmented into managed services and professional services. The application area segment of the market comprises of email security, network security, database cloud security, web security, and others. The organization size of the market comprises of large enterprise and small & medium-sized enterprise. On the basis of vertical, the market is segmented into oil and gas, BFSI, IT and telecom, healthcare, retail, government, and defense.
Detailed Regional Analysis
The region wise analysis of security as a service market covers regions such as Europe, Asia Pacific, North America, and the rest of the world. The initiation of cloud computing security is motivating the development of the security as a service market in the North American region. The region is anticipated to rule the market with the principal market stake throughout the forecast period. The US and Canada are key nations in the region are leading owing to technical progresses and growing implementation of cloud-based services. Furthermore, the important providers of intelligent networks in the US are augmenting the advanced cloud architecture and delivering network security. The European region is projected to display an increased growth rate through the forecast period as the firms in the region are deeply invested in security as a service infrastructure to improve their enterprise security infrastructure. The Asia Pacific region is anticipated to emerge as a swiftly growing region in the market, owing to the change of large enterprises to the cloud. Japan, China, and India are the foremost markets in the region due to their vast customer base.
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The tactical goals intended for the market are buoyed due to advantageous product differentiation carried out by market contestants. The effective implementation of strategies is likely to stimulate the market in the coming years. The expansion of a strong value chain is additionally motivating the development of the market. The vertical supplements and product tactics of the market are advancing the potential of the market players. The development of the market is moving in a promising direction due to new product introductions or intensifying gross revenue of the players in the market. Substantial cuts in administrative costs are inducing further expansion of the market. Increased conformity of market players to new customers and market trend inclinations are boosting the growth curve of the market and will persist in the forecast period.
The notable competitors in the security as a service market are Intel Corporation (US), Trend Micro Incorporated (Japan), Panda Security (Spain), International Business Machines Corporation (US), Cisco Systems Inc. (US), Fortinet Inc. (US), CipherCloud (US), Zscaler Inc. (US), Alert Logic Inc. (US), Radware Ltd (Israel), Verizon (US), Symantec Corporation (US), and SecureWorks (US).
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
LIST OF TABLES
Table 1 Global Security As A Service Market, By Region, 2019–2023
Table 2 North America: Security As A Service Market, By Country, 2019–2023
Table 3 Europe: Security As A Service Market, By Country, 2019–2023
Table 4 Asia-Pacific: Security As A Service Market, By Country, 2019–2023
Table 5 Rest Of The World: Security As A Service Market, By Country, 2019–2023
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LIST OF FIGURES
FIGURE 1 Global Security As A Service Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Security As A Service Market
FIGURE 4 Value Chain Of Global Security As A Service Market
FIGURE 5 Share Of Security As A Service Market In 2019, By Country (In %)
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