What Is The Projected Market Size and Growth Rates Of The Global Security As A Service Market?
The security as a service market has shown substantial growth, expanding from $15.58 billion in 2024 to $17 billion in 2025, at a compound annual growth rate (CAGR) of 9.1%. This growth in the historic period can be attributed to cost-effective security solutions, the rising complexity of threat landscapes, the focus on regulatory compliance, challenges faced by remote workforces, specialization and expertise of vendors, and integration with existing infrastructure.
The scope for the security as a service market appears promising, anticipated to rise to $30.65 billion in 2029 at a CAGR of 15.9%. This forecasted growth can be linked to automated incident responses, the concentration on user identity and access management, quantum-safe security solutions, application security services, and continuous security training and awareness programs. Future trends include greater emphasis on threat intelligence, endpoint security, mobile device management (MDM), identity and access management (IAM) integration, and collaboration with managed security service providers (MSSSPS).
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What Are The Factors Driving The Security As A Service Market Growth?
The surge in the adoption of cloud-based services has been a major driving force in the security as a service market. In the wake of COVID-19 lockdowns, SMEs are placing more emphasis on streamlining business by adopting cloud services which are susceptible to cyber-attacks. As a result, companies are investing heavily in cloud-based security services to confront these cyber-attacks and safeguard sensitive and confidential data. For instance, according to a report by Ziff Davis, around 40% of the global workforce turned to cloud-based services in 2020, a figure expected to double by 2025. Given such trends, it is certain that the escalating adoption of cloud-based services will boost the security as a service market in the forecasted period.
What Are The Major Segments Within The Global Security As A Service Market?
• By Component: Solution, Service
• By Application: Network Security, Endpoint Security, Application Security, Cloud Security, Other Applications
• By Organization Size: SMEs, Large Enterprises
• By End User: BFSI, Telecom And IT, Healthcare, Retail, Manufacturing, Government, Other End Users
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Who Are The Major Players In The Security As A Service Market?
Major companies such as Trend Micro Incorporated, IBM Corporation, Microsoft Corporation, Zscaler Inc., Cisco Systems Inc.,Palo Alto Networks Inc., Broadcom Inc.,Fortinet Inc.,Symantec, and many more are operating in the security as a service market.
What Are The Emerging Trends In The Security As A Service Market?
Major companies in the security as a service market are launching cloud security offerings to enhance security for their customers, addressing various aspects of cybersecurity. For instance, in November 2022, HCLTech launched its suite of Cloud Security as a Service on AWS, further expanding its Cloud Security-as-a-Service solutions for enterprises.
What Is The Regional Analysis Of The Security As A Service Market?
In 2024, North America was the largest region in the security as a service market, but Asia-Pacific is predicted to be the fastest-growing region in the forecast period.
What Does The Security As A Service Market Report 2025 Offer?
Security as a service refers to a business model where a service provider offers or integrates security solutions into a company’s infrastructure on a subscription basis. The Security as a Service Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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