Global security as a service market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 18.9% during the forecast period.

Global security as a service market

Global security as a service market

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Market Definition

Security as a service (SECaaS) is an outsourced service and a business model for security management. It provides various enterprises a kind of security they require with no complexity and low price as well. It also provides effective methods for enterprises to identify threats within a network.

Market Dynamics

Growing adoption of security as a service in enterprise data centers is a major driving factor behind the growth of the market. Security as a service is being highly adopted in mobile and cloud world as it delivers secure access to services and applications from the location where the user is connected. Increasing demand of security services intrusion detection, penetration testing, antivirus, anti-malware/spyware, and security event management tools, rising adoption of cloud-enabled security solutions among SMEs and growing trends such as carry your device and bring your device are expected to improve the growth of the market during the forecast period. SECaaS provides some benefits such as reduced price, uniform and continuous protection, improved security, and ease of management, which are ultimately propelling the growth of the market.

However, rising complexities in IT infrastructure and lack of skilled IT security personnel are major restraining factors that could hamper the growth of the market.

Global Security as a Service Market: Segmentation Analysis

By application, the network security segment dominated the market in 2019 and is projected to witness fast growth at CAGR of XX% during the forecast period. Network security is the method of adopting software security measures to secure network infrastructure from malfunction, unauthorized access, modification, inappropriate disclosure, and misuse. It is an essential tool to create a safe platform for programmers, computers, and users, to execute their legalized important purposes within an environment. Increasing adoption of network security services in organizations to secure a network from potential threats by analyzing and collecting a variety of network security event information is attributed to the growth of the market.

By component, the solution segment dominated the market in 2019 and is expected to maintain its dominance at CAGR of XX% during the forecast period. Security as a service process provides a number of solutions to the enterprises. Identity and access management (IAM) solution is projected to witness high growth at CAGR of 12.9% during the forecast period. Nowadays, many security enterprises are enhancing and developing their service-based offerings. These offerings include cloud mobile, email threat management, and web security. Growing adoption of IAM solutions in the organizational process to identify, authenticate, and to authorize person or groups of people to have appropriate access to technology resources is propelling the growth of the market.

Global Security as a Service Market: Regional Analysis

Region-wise, North America held the largest market share in 2019 and is expected to maintain its dominance at CAGR of XX% during the forecast period. The US and Canada are major key contributors behind the growth of the market. The growth is attributed to the presence of advanced infrastructure, growing adoption of cloud-based security measures, and a vast presence of enterprise data centers across the region. According to research, approximately 64% of data breaches are reported in the US to date, which results in more demand for security solutions in various organizations across the country. Also, massive presence security services providers are propelling the growth of the market in the region.

The objective of the report is to present a comprehensive analysis of the Global Security as a Service Market including all the stakeholders of the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Security as a Service Market dynamics, structure by analyzing the market segments and projects the Global Security as a Service Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Security as a Service Market make the report investor’s guide.
The Scope of Global Security as a Service Market

Global Security as a Service Market, By Component

• Solution
o Business Continuity and Disaster Recovery
o Continuous Monitoring
o Data Loss Prevention
o Encryption
o Identity and Access Management
o Intrusion Management
o Security Information and Event Management
o Vulnerability Scanning598
o Others (Security Assessment, DDoS mitigation, and Firewall Services)
• Services
o Training and Education
o Consulting
o Support and Maintenance
Global Security as a Service Market, By Application

• Network Security
• Endpoint Security
• Application Security
• Cloud Security
• Others (Email security, Web Security, and Database Security)
Global Security as a Service Market, By Industry

• Banking, Financial Services, and Insurance,
• Government and Defense
• Retail
• Healthcare
• IT and Telecom
• Energy and Utilities
• Manufacturing
• Others
Global Security as a Service Market, By Region

• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Global Security as a Service Market, Key Players

• McAfee
• Trend Micro
• Zscaler
• International Business Machines Corporation
• Microsoft
• Clearswift
• Alert Logic
• Cygilant
• Barracuda Networks
• Panda Security
• Stratejm
• Radware
• Mindsight
• Sentinel Technologies
• Happiest Minds
• Okta
• ProofPoint
• Qualys
• Symantec
• Sophos
• Egress Technologies
• Forcepoint
• Fortinet
• Kaspersky Lab
• CipherCloud
• DXC Technology
• Cisco
• AT&T
• Axcient

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