Security as a Service Market 2019 Global Industry Size, Share, Trends, Growth Factors and Regional Outlook To 2023
Security as a Service Market Research Report, Component (Solution and Service), Application Area (Network, Email, and Other Security), Organization Size (SMEs and Large Enterprises), Vertical (BFSI, IT and Telecom, and Others) – Global Forecast till 2023
Pune, India – February 28, 2019 /MarketersMedia/ —
The prominent players in the security as a service market are Symantec Corporation (US), Intel Corporation (US), Trend Micro Incorporated (Japan), Cisco Systems Inc. (US), Fortinet Inc. (US), Panda Security (Spain), CipherCloud (US), Zscaler Inc. (US), Alert Logic Inc. (US), and Radware Ltd (Israel), International Business Machines Corporation (US), Verizon (US), and SecureWorks (US) are among the other players in this market.
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Market Research Future anticipates the growth of global security as a service market at a CAGR of 21.59% with a market value of USD 14.25 billion owing to the advent of cloud computing technology. As the need and demand for cloud computing skyrockets, the security as a service market is witnessing growth in the demand for cloud computing security. Cloud computing security is associated with the policies and strategies deployed to protect business data such as computer security, information security, and network security. The market has witnessed migration from traditional security and hardware solutions to advanced security and cloud-based security services. Cloud-based security ensures the security of customer s data and information at a low-cost. Furthermore, the rise in demand for cloud computing security is expected to be one of the major factors fueling the growth of the security as a service market over the forecast period.
Security as a service is an approach to design a service-oriented business network infrastructure. It is a model designed explicitly for security management to deploy security services and solutions over the Internet. Security as a service is an approach based on software as a service (SaaS), however, it is limited to a set of defined information security services. The benefits provided by the service includes continuous anti-virus monitoring and updates, ease of management, reduced costs, data loss prevention, identity and access management, and others. Enterprises are readily adopting these services owing to various benefits, which is positively impacting the security as a service market which would result in an optimistic growth of the market in the forecast period.
Large enterprises are increasingly adopting cloud-based security services owing to the benefits related to customer data security, flexibility, mobility, and others. However, small- and medium-sized enterprises are skeptical regarding the adoption of cloud-based security, due to the possible downtime depending upon the reliability of the internet connection and, to some extent, the cost incurred in implementing cloud-based security which is expected to hamper the growth of the security as a service market over the assessment period.
The global security as a service market is expected to reach USD 14.25 billion growing at 21.59% CAGR over the forecast period 2018 2023.
The Security as a Service Market is segmented on the basis of component, application area, organization size, vertical, and region. These segments are further sub-segmented into the following:
By component, the security as a service market is segmented into solution and service. By solution, the market is further sub-segmented into endpoint protection, security information and event management (SIEM), identity access management (IAM), intrusion detection and prevention systems (IDS/IPS), email encryption, data loss prevention (DLP), and others. By service the market is further segmented into professional services and managed services.
By application area, this market is segmented into network security, email security, database cloud security, web security, and others.
By organization size, the market is segmented into small and medium-sized enterprise, and large enterprise.
By vertical, the market is segmented into BFSI, oil and gas, IT and telecom, retail, healthcare, government and defense, and others.
By region, North America, Europe, Asia-Pacific, and the rest of the world are the global segments.
The regional analysis of security as a service market is considered for North America, Europe, Asia-Pacific, and the rest of the world.
The advent of cloud computing security is driving the growth of the security as a service market in North America. The region is expected to dominate the market with the largest market share during the forecast period. The US and Canada are a few countries in the region, leading due to technical advancements and increasing adoption of cloud-based services. Additionally, leading providers of intelligent networks such as Cisco Systems, Symantec Corporation, Fortinet Inc., Verizon, and others in the US are enhancing advanced cloud architecture and providing network security. Europe is expected to show a high growth rate during the forecast period as the companies in the region are heavily invested in security as a service infrastructure to enhance their enterprise security infrastructure. Asia-Pacific is expected to be the fastest growing region in the market, due to the shift of large enterprise to the cloud. China, Japan, and India are the leading markets in the region, with a vast customer base.
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Security service providers
Resellers and distributors
Security solution vendors
TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
LIST OF TABLES
Table 1 Global Security As A Service Market, By Region, 2018 2023
Table 2 North America: Security As A Service Market, By Country, 2018 2023
Table 3 Europe: Security As A Service Market, By Country, 2018 2023
Table 4 Asia-Pacific: Security As A Service Market, By Country, 2018 2023
Table 5 Rest Of The World: Security As A Service Market, By Country, 2018 2023
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LIST OF FIGURES
FIGURE 1 Global Security As A Service Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter s Five Forces Analysis Of Global Security As A Service Market
FIGURE 4 Value Chain Of Global Security As A Service Market
FIGURE 5 Share Of Security As A Service Market In 2018, By Country (In %)
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Name: Market Research Future
Organization: Market Research Future
Release ID: 487378