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The Global Security as a Service Market size is expected to reach $19.1 billion by 2024, rising at a market growth of 16.4% CAGR during the forecast period.
Security as a service is an outsourcing model which is built for security management. Security as a service typically covers applications such as internet - based anti - Virus software; however the term may also refer to internal security management from an external organization. Security as a service (SecaaS or SaaS) is a cloud computing model which has been introduced to the market for delivering managed security services over the internet. SecaaS is based on the Software as a Service (SaaS) model, but is restricted to specialized security information services.
Source: KBV Research Analysis
The compulsion of following regulatory and data protection laws, the extensive costs and risks associated with management of on-premises security solutions, and the growing demand for cloud-based security solutions are the prime influencers of this market. Security as a Service market is segmented into components (solutions and services), application area, organization size, vertical, and region. By solution, the market includes continuous monitoring, business continuity and disaster recovery, encryption, Data Loss Prevention (DLP), Identity and Access Management (IAM), Security Information and Event Management (SIEM), intrusion management, vulnerability scanning, and others. The SIEM segment within the security as a service solution market is projected to display the largest market size, over the forecast period.
Global Security as a Service Market Share By End User
Source: KBV Research Analysis
The services segment market is expanding as individuals, Small and Medium-sized Enterprises (SMEs), and large enterprises are more focussed about securing access to their network, cloud, endpoint, and applications. Also, the support and maintenance services segment is likely to attain the highest market share over the coming years owing to the need for solving technical issues and avoiding breakdown time. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The KBV Cardinal Matrix is a visual representation about the key players in the industry. The matrix is designed considering the major strategic developments including Mergers & Acquisitions, product launches, partnership among others and the financial strength of the company in the considered years. The major strategies followed by the market participants are Product launches and Acquisitions. Based on the Analysis presented in the Cardinal matrix, Intel Corporation (McAfee) and Microsoft Corporation are some of the forerunners in the Security as a Service market.
Source: KBV Research Analysis, Company Publications and Secondary Research
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Zscaler, RUAG (Clearswift), Alert Logic, Panda Security S.L., Stratejm Inc., Sentinel Technologies Inc., Happiest Minds Technologies, Intel Corporation (McAfee), Microsoft Corporation, and Fortinet Inc.
Scope of the Study
- Security Information & Event Management
- Identity & Access Management
- Data Loss Prevention & Encryption
- Business Continuity & Disaster Management
- Network Security
- Endpoint Security
- Application Security
- Cloud Security & Others
By Organization Size
- Large Enterprises
By End User
- Telecom & IT
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- RUAG (Clearswift)
- Alert Logic
- Panda Security S.L.
- Stratejm Inc.
- Sentinel Technologies Inc.
- Happiest Minds Technologies
- Intel Corporation (McAfee)
- Microsoft Corporation
- Fortinet Inc.
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