Cyber Security As A Service Market Size, Share, Trends Analysis, And Forecast To 2033

Overview and Scope
Cybersecurity as a service (CSaaS) is a subscription-based model in which businesses hire external organizations to access cybersecurity capabilities via the Internet or cloud-based platforms. This service provides organizations with scalable, cost-effective, and flexible solutions to address evolving cybersecurity needs, leveraging the expertise and resources of specialized security providers to enhance overall security posture and resilience against cyber threats.

Sizing and Forecast
The cybersecurity as a service market size has grown rapidly in recent years. It will grow from $145.46 billion in 2023 to $161.15 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%.  The  growth in the historic period can be attributed to growing incidence of data breaches, high costs associated with on- premise solutions, increased adoption from SME’s, rising number of connected devices, increasing number of cyber-attacks.

The cybersecurity as a service market size is expected to see rapid growth in the next few years. It will grow to $246.96 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%.  The growth in the forecast period can be attributed to growing number of data breaches and cyber-attacks, government initiatives, increasing adoption of cloud security solutions, increase in the data stored on the cloud, rising number of cyberattacks. Major trends in the forecast period include innovative technology, rising trend of BYOD (bring your own device) in enterprises, adoption of cybersecurity solutions, adoption of cloud and virtualization technologies, impact of emerging technologies.

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Segmentation & Regional Insights
The cyber security as a service market covered in this report is segmented –
1) By Security Type: Vulnerability And Security Assessment, Threat Intelligence And Business Analytics, Auditing And Logging, Continuous Monitoring And Encryption, Identity And Access Management, Other Security Types
2) By Organization Size: Large Enterprises, Small And Medium-sized Enterprises
3)By End User: Retail, Banking, Financial Services, And Insurance (BFSI), Information Technology (IT) And Telecom, Healthcare, Government, Automotive, Other End-Users

Top 5 Major Players:

• Microsoft Corporation
• AT&T Inc
• IBM Corporation
• Cisco Systems Inc
• Oracle Corporation

North America was the largest region in the cybersecurity 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 cyber security as a service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth
The growing incidence of data breaches is expected to propel the growth of the cybersecurity as a service market going forward. A data breach is an incident where sensitive, protected, or confidential data is accessed, copied, transmitted, viewed, stolen, altered, or used without authorization. The incidence of data breaches is increasing due to cybercrime sophistication, data dependency, and a lack of security measures. Cybersecurity as a service helps reduce data breaches by providing continuous monitoring, vulnerability management, incident response, access control, security awareness training, and compliance assistance. For instance, in January 2023, according to The Identity Theft Resource Center, a US-based non-profit organization, the number of reported data breach incidents increased by 68% in 2022, with 1,862 breaches reported compared to 1,108 breaches in 2021. Therefore, the growing incidence of data breaches is driving the growth of the cybersecurity as a service market.

Key Industry Players
Major companies operating in the cyber security as a service market are Microsoft Corporation, AT&T Inc., IBM Corporation, Cisco Systems Inc., Oracle Corporation, Tata Consultancy Services Limited, BAE Systems plc, Capgemini SA, Fortinet Inc., NortonLifeLock Inc., Optiv Security Inc., Check Point Software Technologies Ltd., McAfee Inc., Trend Micro Incorporated, CrowdStrike Holding Inc., Okta Inc., ProofPoint Inc.  , Zscaler Inc., FireEye Inc., Forcepoint LLC, Cyber Ark Software Ltd., Guidepoint Security LLC, Radware Ltd., Alert Logic Inc., LookingGlass Cyber Solutions Inc., Qualys Inc., Sophos Ltd., Stratejm Inc.

The cyber security as a service market report table of contents includes:
1. Executive Summary
2. Cyber Security As A Service Market Characteristics
3. Cyber Security As A Service Market Trends And Strategies
4. Cyber Security As A Service Market – Macro Economic Scenario
5. Global Cyber Security As A Service Market Size and Growth

….

32. Global Cyber Security As A Service Market Competitive Benchmarking
33. Global Cyber Security As A Service Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cyber Security As A Service Market
35. Cyber Security As A Service Market Future Outlook and Potential Analysis
36. Appendix

List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Cyber Security As A Service Market, Segmentation By Security Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Cyber Security As A Service Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Cyber Security As A Service Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

….

Table 74: Microsoft Corporation Financial Performance
Table 75: AT&T Inc. Financial Performance
Table 76: IBM Corporation Financial Performance
Table 77: Cisco Systems Inc. Financial Performance
Table 78: Oracle Corporation Financial Performance

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