The global security as a service market reached a value of US$ 12.64 billion in 2021. Looking forward, the market is projected 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, the analyst is 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.
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.
This report 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. The report has categorized the market based on component, organization size, application and vertical.
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.
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
This report 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. The 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 Application:
- Network Security
- Endpoint Security
- Application Security
- Cloud Security
- Others
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?
Frequently Asked Questions about the Global Security as a Service Market
What is the estimated value of the Global Security as a Service Market?
What is the growth rate of the Global Security as a Service Market?
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| Report Attribute | Details |
|---|---|
| No. of Pages | 145 |
| Published | April 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 12.64 Billion |
| Forecasted Market Value ( USD | $ 30.17 Billion |
| Compound Annual Growth Rate | 15.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 14 |
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Security as a Service Market
6 Market Breakup by Component
7 Market Breakup by Organization Size
8 Market Breakup by Application
9 Market Breakup by Vertical
10 Market Breakup by Region
11 SWOT Analysis
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- 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
- Zscaler Inc
Methodology
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