The Security as a Service by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Security as a Service, The security as a service market size has grown rapidly in recent years. It will grow from $14.45 billion in 2023 to $15.94 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to cost-effective security solutions, increased complexity of threat landscape, focus on regulatory compliance, remote workforce challenges, vendor expertise and specialization, integration with existing infrastructure..
The security as a service market size is expected to see rapid growth in the next few years. It will grow to $26 billion in 2028 at a compound annual growth rate (CAGR) of 13.0%. The growth in the forecast period can be attributed to automated incident response, focus on user identity and access management, quantum-safe security solutions, application security services, continuous security training and awareness programs.. Major trends in the forecast period include increased emphasis on threat intelligence, endpoint security and mobile device management (mdm), identity and access management (iam) integration, behavioral analytics for anomaly detection, collaboration with managed security service providers (mssps)..
The increase in adoption of cloud-based services has driven the security as a service market. Cloud-based services are services offered over the Internet or a dedicated network with delivery on demand. Due to the COVID-19 pandemic and lockdowns, small and medium-scale Enterprises are increasingly focusing on streamlining their business models by adopting cloud services, which are highly prone to cyber-attackers. Thus, companies are increasingly investing in cloud-based security services to tackle cyber-attacks and protect sensitive and confidential information. According to the report of Ziff Davis, a New York-based digital media and internet company, approximately 40% of the global workforce adopted cloud-based services in 2020 and is expected to reach 80% by 2025, exceeding 100 Zettabytes of data in cloud data centers. Furthermore, according to the Findstack report, 92% of an organization’s IT environment is likely to be in the cloud by 2022. Hence, the rising adoption of cloud-based services is expected to boost security as a service market during the forecast period.
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The Security As A Service Market Covered In This Report Is Segmented –
Security As A Service By Component:
Solution
Service
Security As A Service By Application:
Network Security
Endpoint Security
Application Security
Cloud Security
Other Applications
Security As A Service By Organization Size:
SMEs
Large Enterprises
Security As A Service By End User:
BFSI
Telecom & IT
Healthcare
Retail
Manufacturing
Governmentent
Other End Users
Top Key Players:
Trend Micro Incorporated
IBM Corporation
Microsoft Corporation
Zscaler Inc.
Cisco Systems Inc.
Major companies operating in the security as a service market are launching cloud security offerings to enhance security for customers. These are designed to provide a comprehensive range of solutions to secure workloads on AWS, an on-demand cloud computing platform, and on-premises, addressing various aspects of cybersecurity. For instance, in November 2022, HCLTech, an India-based technology company, launched its suit of Cloud Security as a Service on AWS, expanding its Cloud Security-as-a-Service (CSaaS) solutions for enterprises. These cybersecurity services enhance security and resilience for AWS customers, leveraging industry best practices and certifications for threat detection, network protection, data security, identity and access management, compliance, and application security.
The security as a service market report table of contents includes:
1. Executive Summary
2. Security as a Service Market Characteristics
3. Security as a Service Market Trends And Strategies
4. Security as a Service Market – Macro Economic Scenario
5. Global Security as a Service Market Size and Growth
…..
31. Global Security as a Service Market Competitive Benchmarking
32. Global Security as a Service Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Security as a Service Market
34. Security as a Service Market Future Outlook and Potential Analysis
35. 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 Security as a Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Security as a Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Security as a Service Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
……
Table 75: Trend Micro Incorporated Financial Performance
Table 76: IBM Corporation Financial Performance
Table 77: Microsoft Corporation Financial Performance
Table 78: Zscaler Inc. Financial Performance
Table 79: Cisco Systems Inc. Financial Performance
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