Security as a Service Market
Technology

Security as a Service Market Worth US$ 30.17 Billion by 2027 at 15.10% CAGR

According to the latest report by IMARC Group, “Global Security as a Service Market Growth, Share, Growth, Industry Trends, Opportunity and Forecast 2022-2027“, the global security as a service market reached a value of US$ 12.64 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 30.17 Billion by 2027, exhibiting a CAGR of 15.10% during 2022-2027.

Security as a service, or SECaaS, is an umbrella term for several cloud-based cybersecurity solutions outsourced by organizations. Some standard SECaaS solutions are anti-virus, web gateway, identity and access management, anti-malware, intrusion detection, vulnerability management, and application security testing. These services are offered on a subscription basis hosted by cloud providers and are integrated into the business infrastructure. They aid organizations in freeing up resources, working with the latest tools, saving costs, and scaling security needs as the business grows. In recent years, SECaaS solutions have gained momentum due to their higher security expertise, cost efficiency, faster provisioning, protection against online threats and greater agility.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Security as a Service Market Trends and Drivers:

One of the primary factors driving the market is the escalating demand for cloud-based security solutions and the high costs and risks involved in managing on-premises security solutions. Additionally, the enhancing IT infrastructure of organizations has led to a considerable increase in the prevalence of online threats such as identity thefts and data breaches. Other than this, there is a significant rise in the security concerns due to the increasing number of individuals working from home amid the recent coronavirus disease (COVID-19) outbreak.

In line with this, the market players are focusing on product innovations to expand their consumer base. Furthermore, favorable data protection and regulatory laws formed by governments of various nations are propelling the market growth. Other growth-inducing factors include the growing penetration of the Internet of Things (IoT), technological advancements, and the increasing adoption of bring-your-own-device (BYOD) policies.

Global Security as a Service Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

What is the projected market value of the global Security as a Service Market?

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.

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The report has segmented the market on the basis of region, 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

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Key highlights of the report:

  • Market Performance (2016-2021)
  • Market Outlook (2022- 2027)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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