The global security as a service market reached a value of US$ 12.64 Billion in 2021. Looking forward, the analyst expects the market to reach a value of US$ 30.17 Billion by 2027, exhibiting a CAGR of 15.10% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Security as a Service, or SECaaS, is an umbrella term for various cloud-based cybersecurity solutions outsourced by organizations. Some commonly provided SECaaS solutions include secure email and web gateway, identity and access management, anti-virus, anti-malware, intrusion detection, vulnerability management, and application security testing. These services are integrated into the business infrastructure and offered on a subscription basis hosted by cloud providers. They help organizations free up resources, save costs, work with the latest tools and security updates, and scale security needs as the business grows. As a result, SECaaS has gained traction due to its cost efficiency, higher security expertise, enhanced protection against online threats, faster provisioning, and greater agility. Security as a Service Market Trends: The escalating demand for cloud-based security solutions and the high costs and risks involved in managing on-premises security solutions represent the primary factors driving the market growth. Additionally, with the improving IT infrastructure of organizations, there has been a significant rise in online threats, such as data breaches and identity thefts. Along with this, the growing need to comply with stringent regulatory and data protection laws is catalyzing the demand for SECaaS solutions. Besides this, the rising security concerns due to the increasing number of individuals working remotely amid the recent coronavirus disease (COVID-19) outbreak are encouraging organizations to adopt advanced security solutions like SECaaS. Furthermore, the leading players are focusing on product innovations to expand their product portfolio and gain a competitive edge in the market. Other factors, including the rising adoption of bring-your-own-device (BYOD) policies, increasing penetration of the Internet of Things (IoT), and technological advancements, are also creating a positive market outlook.
Key Market Segmentation: the analyst provides an analysis of the key trends in each sub-segment of the global security as a service market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, organization size, application and vertical.
Breakup by Component: Solution Services
Breakup by Organization Size: Small and Medium-sized Enterprises Large Enterprises
Breakup by Vertical: BFSI Government and Defense Retail and E-Commerce Healthcare and Life Sciences IT and Telecom Energy and Utilities Manufacturing Others
Breakup by Region: North America United States Canada Asia-Pacific China Japan India South Korea Australia Indonesia Others Europe Germany France United Kingdom Italy Spain Russia Others Latin America Brazil Mexico Others Middle East and Africa
Competitive Landscape: The competitive landscape of the industry has also been examined along with the profiles of the key players being Alert Logic Inc., Barracuda Networks Inc., Cisco Systems Inc., Dell Technologies Inc., Fortinet Inc., International Business Machines Corporation, McAfee LLC, Microsoft Corporation, Okta Inc., Proofpoint Inc., Qualys Inc., Radware Ltd., Trend Micro Incorporated and Zscaler Inc.
Key Questions Answered in This Report: How has the global security as a service market performed so far and how will it perform in the coming years? What has been the impact of COVID-19 on the global security as a service market? What are the key regional markets? What is the breakup of the market based on the component? What is the breakup of the market based on the organization size? What is the breakup of the market based on the application? What is the breakup of the market based on the vertical? What are the various stages in the value chain of the industry? What are the key driving factors and challenges in the industry? What is the structure of the global security as a service market and who are the key players? What is the degree of competition in the industry?
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