DUBLIN–(BUSINESS WIRE)–The “Outlook
on the $16.49Bn Security-as-a-Service (SaaS) Market, 2023 – Increase in
Demand for Cloud-Based Security Solutions” report has been
added to ResearchAndMarkets.com’s offering
The global security as a service market size is estimated to grow from
USD 7,552.4 million in 2018 to USD 16,493.3 million by 2023, at a
Compound Annual Growth Rate (CAGR) of 16.9% from 2018 to 2023.
The report covers the security as a service solutions and services
across segments. It aims at estimating the market size and growth
potential of this market across segments, such as components,
application areas, organization size, verticals, and regions.
Furthermore, the report also includes an in-depth competitive analysis
of the key players in the market, along with their company profiles,
product and business offerings, recent developments, and key market
strategies.
The key growth drivers of the security as a service market are mandates
to follow regulatory and data protection laws, increase in demand for
cloud-based security solutions, and high cost and risks in managing
on-premises security solutions. Additionally, increase in adoption of
cloud-based services among Small and Medium-sized Enterprises (SMEs) and
rapid growth in Bring Your Own Device (BYOD) and Carry Your Own Device
(CYOD) trends are expected to provide a huge growth opportunity for the
security as a service market over the next 5 years.
The biggest challenge for the security as a service market is the rise
in IT infrastructure complexities and availability of free security
services and security solution suites.
The Banking, Financial Services, and Insurance (BFSI) vertical is
expected to dominate the market with the highest share during the
forecast period, whereas the retail vertical is projected to grow at the
highest rate. Moreover, to address the sophisticated threats, the
encryption solution is expected to grow at the highest rate during the
forecast period. Furthermore, due to the huge adoption of web and mobile
applications, the market for application security is projected to gain
traction in the next 5 years.
Key Benefits of Buying the Report
The report would help the market leaders/new entrants in this market
with information about the closest approximations of the revenue numbers
for the overall security as a service market and its subsegments. It
would help stakeholders understand the competitive landscape and gain
more insights to better their positions and plan suitable go-to-market
strategies. It also helps stakeholders understand the pulse of the
market and provides them with information about key market drivers,
restraints, challenges, and opportunities.
Market Dynamics
Drivers
- Mandate to Follow Regulatory and Data Protection Laws
- Increase in Demand for Cloud-Based Security Solutions
- High Cost & Risks in Managing On-Premises Security Solutions
Restraints
- Organizations’ Doubts About Cloud-Based Security
- Availability of Free Security Services and Security Solution Suites
Opportunities
- Increase in Adoption of Cloud-Based Services Among SMEs
- Rapid Growth in Bring Your Own Device and Carry Your Own Device Trends
- Lack of Skilled IT Security Professionals
Challenge
- Rise in IT Infrastructure Complexities
Use Cases
-
Adoption of Security as a Service for Mitigating Internal & External
Cyber Threats -
Adoption of Security as a Service Among Leading Energy & Utilities
Companies -
Dependence of a Leading IT & Telecom Company on Distributed Denial of
Service Protection and Mitigation Solutions & Services
Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Security as a Service Market By Component
7 Security as a Service Market By Solution
8 Security as a Service Market By Service
9 Security as a Service Market By Application Area
10 Security as a Service Market By Organization Size
11 Security as a Service Market By Vertical
12 Security as a Service Market By Region
13 Competitive Landscape
14 Company Profiles
- Alert Logic
- Barracuda Networks
- Clearswift
- Cygilant
- Happiest Minds
- IBM
- McAfee
- Microsoft
- Mindsight
- Panda Security
- Radware
- Sentinel Technologies
- Stratejm
- Trend Micro
- Zscaler
For more information about this report visit https://www.researchandmarkets.com/r/umpfm3
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Related
Topics: IT
Security
