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Security as a Service Global Market Report 2024

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    Report

  • 200 Pages
  • January 2024
  • Region: Global
  • The Business Research Company
  • ID: 5767285
Security as a Service is a business model wherein a service provider offers or integrates security solutions into a company's infrastructure on a subscription basis. This model allows companies to leverage the expertise of a dedicated security team specialized in preventing breaches in cloud computing environments.

The primary types of Security as a Service encompass solutions and services. Solutions refer to security offerings delivered through the cloud or private network as a service model, including business continuity and disaster recovery, encryption, data loss prevention, identity and access management, intrusion management, security information and event management, vulnerability scanning, among others. Security as a Service finds applications in network security, endpoint security, application security, and cloud security. It is utilized by both small and medium-sized enterprises (SMEs) and large enterprises across various industries such as BFSI, telecom and IT, healthcare, retail, manufacturing, and government.

The security as a service market research report is one of a series of new reports that provides security as a service market statistic, including security as a service industry global market size, regional shares, competitors with a security as a service market share, detailed security as a service market segments, market trends and opportunities, and any further data you may need to thrive in the security as a service industry. This security as a service market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The security as a service market size has grown rapidly in recent years. It will grow from $14.45 billion in 2023 to $15.94 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth observed in the historical period can be attributed to cost-effective security solutions, the heightened complexity of the threat landscape, a focus on regulatory compliance, challenges associated with a remote workforce, reliance on vendor expertise and specialization, and the integration with existing infrastructure.

The security as a service market size is expected to see rapid growth in the next few years. It will grow to $26 billion in 2028 at a compound annual growth rate (CAGR) of 13.0%. The anticipated growth in the forecast period can be attributed to the adoption of automated incident response, a heightened focus on user identity and access management, the incorporation of quantum-safe security solutions, the rise of application security services, and the implementation of continuous security training and awareness programs. Key trends expected in the forecast period include an increased emphasis on threat intelligence, the significance of endpoint security and mobile device management (MDM), the integration of identity and access management (IAM), the use of behavioral analytics for anomaly detection, and collaborative efforts with managed security service providers (MSSPs).

The surge in the adoption of cloud-based services has been a driving force behind the growth of the security as a service market. Cloud-based services, delivered over the Internet or dedicated networks, have witnessed increased adoption, particularly among small and medium-sized enterprises aiming to streamline their business models. This shift towards cloud services, accelerated by the COVID-19 pandemic and associated lockdowns, has made businesses more vulnerable to cyber-attacks. In response, companies are increasingly investing in cloud-based security services to safeguard against cyber threats and protect sensitive information. Ziff Davis reports that around 40% of the global workforce embraced cloud-based services in 2020, a figure expected to reach 80% by 2025, surpassing 100 Zettabytes of data in cloud data centers. Findstack further projects that 92% of an organization's IT environment will likely be in the cloud by 2022. Consequently, the growing adoption of cloud-based services is anticipated to drive the security as a service market in the forecast period.

The escalating frequency of cyberattacks is anticipated to be a significant driver for the security as a service market. Cyberattacks, characterized by deliberate and malicious actions, have become a prevalent threat. Security as a Service offers real-time threat detection, prevention, and incident response, strengthening cybersecurity measures to effectively mitigate and respond to such attacks. Checkpoint's data reveals a 38% increase in global cyberattacks in 2022 compared to 2021. This rise in cyber threats underscores the importance of security as a service in addressing and countering cyberattacks, thus driving market growth.

Major companies in the security as a service market are introducing cloud security offerings to enhance customer security. These offerings are designed to deliver a comprehensive range of solutions, securing workloads on platforms like AWS and on-premises, covering various aspects of cybersecurity. For example, HCLTech, an India-based technology company, expanded its Cloud Security as a Service (CSaaS) solutions by launching a suite on AWS in November 2022. These cybersecurity services aim to enhance security and resilience for AWS customers by leveraging industry best practices and certifications across threat detection, network protection, data security, identity and access management, compliance, and application security.

Leading companies in the security as a service market are also rolling out data security platforms to provide organizations with simplified data security solutions. A data security platform in Security as a Service acts as a comprehensive solution, safeguarding sensitive information and ensuring compliance through an integrated set of tools and services delivered via the cloud. Thales, a France-based technology company, launched its CipherTrust Data Security Platform as a Service in July 2023. This cloud-based subscription offering facilitates data discovery, protection, and control across on-premises and cloud environments, streamlining data security operations and offering flexible key management options.

In February 2022, Inspira Enterprise India Limited acquired Al Gebra Security & Solutions Pvt Ltd., an India-based provider of private identity access and cloud security management solutions. This strategic acquisition is expected to empower Inspira in assisting its customers to establish and maintain a secure and robust security architecture, meet legal obligations, reduce data breaches, and manage user identities more effectively.

Major companies operating in the in the security as a service market report are Trend Micro Incorporated, IBM Corporation, Microsoft Corporation, Zscaler Inc., Cisco Systems Inc.,Palo Alto Networks Inc., Broadcom Inc.,Fortinet Inc.,Symantec,Check Point Software Technologies Ltd.,Texas Pacific Group,Proofpoint Inc.,CrowdStrike Holdings Inc.,Akamai Technologies Inc.,Barracuda Networks Inc.,SonicWall Inc., Mandiant,Qualys Inc.,Rapid7 Inc,Bitdefender software,Sophos Group plc, Carbonite Inc., BlackBerry Ltd,CipherCloud India Pvt Ltd.,F5 Networks Inc.,Cybereason Inc.,Darktrace,Trustwave,Exabeam, AT&T Cybersecurity

North America was the largest region in the security as a service market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the security as a service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the security as a service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The security as a service market includes revenues earned by entities by providing services such as threat intelligence and response, cybersecurity expertise, and constant monitoring for threats. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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Table of Contents

1. Executive Summary2. Security as a Service Market Characteristics3. Security as a Service Market Trends And Strategies
4. Security as a Service Market - Macro Economic Scenario
4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market
5. Global Security as a Service Market Size and Growth
5.1. Global Security as a Service Market Drivers and Restraints
5.1.1. Drivers Of The Market
5.1.2. Restraints Of The Market
5.2. Global Security as a Service Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Security as a Service Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)
6. Security as a Service Market Segmentation
6.1. Global Security as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Solution
Service
6.2. Global Security as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Network Security
Endpoint Security
Application Security
Cloud Security
Other Applications
6.3. Global Security as a Service Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
SMEs
Large Enterprises
6.4. Global Security as a Service Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
BFSI
Telecom & IT
Healthcare
Retail
Manufacturing
Government
Other End Users
7. Security as a Service Market Regional And Country Analysis
7.1. Global Security as a Service Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Security as a Service Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8. Asia-Pacific Security as a Service Market
8.1. Asia-Pacific Security as a Service Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Security as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Security as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Security as a Service Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
9. China Security as a Service Market
9.1. China Security as a Service Market Overview
9.2. China Security as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Security as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Security as a Service Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
10. India Security as a Service Market
10.1. India Security as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Security as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Security as a Service Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11. Japan Security as a Service Market
11.1. Japan Security as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.2. Japan Security as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Security as a Service Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12. Australia Security as a Service Market
12.1. Australia Security as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Security as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Security as a Service Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13. Indonesia Security as a Service Market
13.1. Indonesia Security as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Security as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Security as a Service Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14. South Korea Security as a Service Market
14.1. South Korea Security as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.2. South Korea Security as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Security as a Service Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15. Western Europe Security as a Service Market
15.1. Western Europe Security as a Service Market Overview
15.2. Western Europe Security as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Security as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Security as a Service Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16. UK Security as a Service Market
16.1. UK Security as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Security as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Security as a Service Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17. Germany Security as a Service Market
17.1. Germany Security as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Security as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Security as a Service Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. France Security as a Service Market
18.5. France Security as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.6. France Security as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.7. France Security as a Service Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19. Italy Security as a Service Market
19.9. Italy Security as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.10. Italy Security as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.11. Italy Security as a Service Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20. Spain Security as a Service Market
20.13. Spain Security as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.14. Spain Security as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.15. Spain Security as a Service Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21. Eastern Europe Security as a Service Market
21.1. Eastern Europe Security as a Service Market Overview
21.2. Eastern Europe Security as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Security as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Security as a Service Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22. Russia Security as a Service Market
22.1. Russia Security as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Security as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Security as a Service Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23. North America Security as a Service Market
23.1. North America Security as a Service Market Overview
23.2. North America Security as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Security as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Security as a Service Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24. USA Security as a Service Market
24.1. USA Security as a Service Market Overview
24.2. USA Security as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Security as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Security as a Service Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25. Canada Security as a Service Market
25.1. Canada Security as a Service Market Overview
25.2. Canada Security as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Security as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Security as a Service Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26. South America Security as a Service Market
26.1. South America Security as a Service Market Overview
26.2. South America Security as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Security as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Security as a Service Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27. Brazil Security as a Service Market
27.1. Brazil Security as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Security as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Security as a Service Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28. Middle East Security as a Service Market
28.1. Middle East Security as a Service Market Overview
28.2. Middle East Security as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Security as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Security as a Service Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29. Africa Security as a Service Market
29.1. Africa Security as a Service Market Overview
29.2. Africa Security as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Security as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Security as a Service Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
30. Security as a Service Market Competitive Landscape And Company Profiles
30.1. Security as a Service Market Competitive Landscape
30.2. Security as a Service Market Company Profiles
30.2.1. Trend Micro Incorporated
30.2.1.1. Overview
30.2.1.2. Products and Services
30.2.1.3. Strategy
30.2.1.4. Financial Performance
30.2.2. IBM Corporation
30.2.2.1. Overview
30.2.2.2. Products and Services
30.2.2.3. Strategy
30.2.2.4. Financial Performance
30.2.3. Microsoft Corporation
30.2.3.1. Overview
30.2.3.2. Products and Services
30.2.3.3. Strategy
30.2.3.4. Financial Performance
30.2.4. Zscaler Inc.
30.2. 4.1. Overview
30.2. 4.2. Products and Services
30.2. 4.3. Strategy
30.2.4.4. Financial Performance
30.2.5. Cisco Systems Inc.
30.2. 5.1. Overview
30.2. 5.2. Products and Services
30.2. 5.3. Strategy
30.2.5.4. Financial Performance
31. Global Security as a Service Market Competitive Benchmarking32. Global Security as a Service Market Competitive Dashboard33. Key Mergers And Acquisitions In The Security as a Service Market
34. Security as a Service Market Future Outlook and Potential Analysis
34.1 Security as a Service Market In 2028 - Countries Offering Most New Opportunities
34.2 Security as a Service Market In 2028 - Segments Offering Most New Opportunities
34.3. Security as a Service Market In 2028 - Growth Strategies
34.3.1 Market Trend Based Strategies
34.3.2 Competitor Strategies
35. Appendix
35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer

Executive Summary

Security as a Service Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on security as a service market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

  • Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
  • Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
  • Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
  • Measure the impact of high global inflation on market growth.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market shares.
  • Benchmark performance against key competitors.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis
  • All data from the report will also be delivered in an excel dashboard format.

Description:

Where is the largest and fastest growing market for security as a service? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

Scope

  • Markets Covered: 1) By Component: Solution; Service 2) By Application: Network Security; Endpoint Security; Application Security; Cloud Security; Other Applications 3) By Organization Size: SMEs; Large Enterprises 4) By End User: BFSI; Telecom & IT; Healthcare; Retail; Manufacturing; Government; Other End Users
  • Companies Mentioned: Trend Micro Incorporated; IBM Corporation; Microsoft Corporation; Zscaler Inc.; Cisco Systems Inc.
  • Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
  • Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
  • Time series: Five years historic and ten years forecast.
  • Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
  • Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
  • Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
  • Delivery format: PDF, Word and Excel Data Dashboard.

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Trend Micro Incorporated
  • IBM Corporation
  • Microsoft Corporation
  • Zscaler Inc.
  • Cisco Systems Inc.
  • Palo Alto Networks Inc.
  • Broadcom Inc.
  • Fortinet Inc.
  • Symantec
  • Check Point Software Technologies Ltd.
  • Texas Pacific Group
  • Proofpoint Inc.
  • CrowdStrike Holdings Inc.
  • Akamai Technologies Inc.
  • Barracuda Networks Inc.
  • SonicWall Inc.
  • Mandiant
  • Qualys Inc.
  • Rapid7 Inc
  • Bitdefender software
  • Sophos Group plc
  • Carbonite Inc.
  • BlackBerry Ltd
  • CipherCloud India Pvt Ltd.
  • F5 Networks Inc.
  • Cybereason Inc.
  • Darktrace
  • Trustwave
  • Exabeam
  • AT&T Cybersecurity

Methodology

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