Global Security as a Service Market is Estimated to Value Over USD 17.5 billion by 2026 End

  • 19 Jun 2019

Global Security as a Service Market is estimated to value over USD 17.5 billion by 2026 end and grow at a CAGR of over 15.9% during the forecast period 2019 to 2026.

Software as a Service (SaaS) is the distribution model of software. The software is distributed to customers online through third-party host. As their remains growing dependency on cloud computing, the threat of cyber-attack and hackers is vast. It hands cloud computing much needed security. It makes sure, sensitive information remains protected and stay away from hackers. It offers multiple benefits like good security, web interface, and anti-virus updates. 

The security as a service market is forecasted to have vast growth because of the preference of business service over cloud services. Many companies are focusing on security as a service model as it provides low pricing effective security model and no maintenance requirement of software or hardware. IT and Telecom industry are the biggest users of security as a service and their expansion has fueled the growth of the market. Strict government regulations have also created suffice opportunities in the market. In Poland, growing economy and government regulations have driven the growth of the IT industry which has given more growth to Saas market.

However, Increase in cybercrime, unwillingness to share sensitive data and vacancy of free anti-virus has hindered the growth of the market. 

North America market is expected to witness high market share in the global market due to the high presence of the IT industry. It is followed by the European region and it accounts for a significant share in the global market. Asia-Pacific region is expected to witness a high market growth rate during the forecast period because of the rise in the IT industry. Changing economic conditions in the Asia Pacific region created huge opportunities.  

Significant players of the market include Fortinet, Zscaler,Inc., Radware, Cisco Systems, Panda Security, Intel Security and Alert Logic,Inc.

 Security as a Service Market Restraints: 
●    Increase in cybercrime 
●    Unwillingness to share sensitive data
●     Vacancy of free antivirus


Security as a Service Market Segmentation: 
By Component:  

●    Solutions  
●    Services 

By Solution:  
●    Identity and Access Management  
●    Continuous Monitoring  
●    Encryption  
●    Data Loss Prevention  
●    Business Continuity and Disaster Management  
●    Identity and Access Management  
●    Intrusion Management 

By Service:  
●    Support and Maintenance 
●    Consulting  
●    Training and Education  

By Organization Size: 
●    Large enterprises 
●    Small and Medium enterprises 

By Industry:
●    Government and Defense  
●    Banking  
●    Financial Services and Insurance 
●    IT and Telecom  
●    Retail  
●    Healthcare  
●    Manufacturing  
●    Energy and Utilities 

By Region: 
●    Europe  
●    North America  
●    APAC  
●    Latin America 
●    Rest of World  

Competitive Landscape:  
●    Tier 1 players- established companies in the market with a major market share  
●    Tier 2 players 
●    Emerging players which are growing rapidly 
●    New Entrants  
 

Future Wise Takeaways: 
●    Growth Prospects  
●    SWOT analysis 
●    Key trends 
●    Key data points affecting market growth  


Objectives of the Study: 
●    To provide with an exhaustive analysis on global security as a service market on the basis of component, application area, organization size, end-use industry and region 
●    To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints) 
●    To evaluate and forecast micro-markets and the overall market  
●    To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East
●    To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions 
●    Profiling of companies to evaluate their market shares, strategies, financials and core competencies  

 

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