PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1225694
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1225694
The security as a service market is anticipated to increase from US$6.634 billion in 2020 to US$18.554 billion in 2027 at a CAGR of 15.83%.
The fast rise in data generation and digitization has also attracted new types of cybercrimes and attacks. SaaS, sometimes known as SECaaS, has gained popularity as a way for corporate infrastructures to scale their security requirements as their organization expands, reduce the workload of their in-house security staff, and do away with the expense and upkeep of on-premises alternatives. Security solutions include things like antivirus, intrusion detection, authentication, anti-malware/spyware, penetration testing, and security event management. SaaS solution providers link their cloud security services with corporate networks to give cloud-based security services to diverse organizations. The newest security tools and upgrades, quicker provisioning and higher agility, and resource liberation are just a few advantages of security-as-a-service. Due to its lower costs, more security knowledge, improved protection from online attacks, quicker provisioning, and increased agility, SECaaS has become more popular.
Increasing the requirement for cloud-based security solutions in SMEs to boost the market expansion
When using the cloud, businesses can combine additional infrastructure technologies, such as software-defined perimeters, to build powerful and highly secure platforms. Moving to cloud-based platforms like Software as a Service (SaaS) and Infrastructure as a Service allows SMEs to continuously modernize their applications and infrastructures (laaS). The majority of SMEs in all industries become prime targets for cybercriminals looking to take advantage of holes in their security model. Cloud-based apps cannot be protected from cyber attacks like malware, ransomware, phishing, and DNS data exfiltration by conventional appliance-based firewalls and security gateways. SME security administrators drive the demand for cloud-based security as service solutions to enhance performance and secure web and mobile apps, as well as crucial network infrastructures. Cloud-based security as a service solution, can employ cloud services to secure apps, data, users, and devices without the need to install a large amount of security hardware on-premises. As SMEs prepare to address data and information security concerns over the cloud, the market's need for cloud-based security as a service solution is anticipated to develop.
Increasing Government regulations to boost the market expansion
Many government initiatives to lessen possible cyber threats and attacks are expected to create new economic services, complying with government regulations. These factors are anticipated to fuel market growth for security as a service.
Market Developments:
Product Offerings:
Market Segmentation:
Email Protection
Data Loss Prevention
Web Protection
Network Protection
Identity and Access Protection
Others
Small
Medium
Large
BFSI
Communication and Technology
Healthcare
Government
Defense
Others
North America
§ USA
§ Mexico
§ Canada
South America
§ Brazil
§ Argentina
§ Others
Europe
§ Germany
§ France
§ United Kingdom
§ Italy
§ Others
Middle East and Africa
§ Saudi Arabia
§ UAE
§ Others
Asia Pacific
§ India
§ China
§ Japan
§ South Korea
§ Taiwan
§ Thailand
§ Indonesia
§ Others
Not an exhaustive list