Outlook on the $16.49Bn Security-as-a-Service (SaaS) Market, 2023 - Increase in Demand for Cloud-Based Security Solutions - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--May 22, 2019--
The “Outlook on the $16.49Bn Security-as-a-Service (SaaS) Market, 2023 - Increase in Demand for Cloud-Based Security Solutions” report has been added to ResearchAndMarkets.com’s offering
The global security as a service market size is estimated to grow from USD 7,552.4 million in 2018 to USD 16,493.3 million by 2023, at a Compound Annual Growth Rate (CAGR) of 16.9% from 2018 to 2023.
The report covers the security as a service solutions and services across segments. It aims at estimating the market size and growth potential of this market across segments, such as components, application areas, organization size, verticals, and regions. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, product and business offerings, recent developments, and key market strategies.
The key growth drivers of the security as a service market are mandates to follow regulatory and data protection laws, increase in demand for cloud-based security solutions, and high cost and risks in managing on-premises security solutions. Additionally, increase in adoption of cloud-based services among Small and Medium-sized Enterprises (SMEs) and rapid growth in Bring Your Own Device (BYOD) and Carry Your Own Device (CYOD) trends are expected to provide a huge growth opportunity for the security as a service market over the next 5 years.
The biggest challenge for the security as a service market is the rise in IT infrastructure complexities and availability of free security services and security solution suites.
The Banking, Financial Services, and Insurance (BFSI) vertical is expected to dominate the market with the highest share during the forecast period, whereas the retail vertical is projected to grow at the highest rate. Moreover, to address the sophisticated threats, the encryption solution is expected to grow at the highest rate during the forecast period. Furthermore, due to the huge adoption of web and mobile applications, the market for application security is projected to gain traction in the next 5 years.
Key Benefits of Buying the Report
The report would help the market leaders/new entrants in this market with information about the closest approximations of the revenue numbers for the overall security as a service market and its subsegments. It would help stakeholders understand the competitive landscape and gain more insights to better their positions and plan suitable go-to-market strategies. It also helps stakeholders understand the pulse of the market and provides them with information about key market drivers, restraints, challenges, and opportunities.
- Mandate to Follow Regulatory and Data Protection Laws
- Increase in Demand for Cloud-Based Security Solutions
- High Cost & Risks in Managing On-Premises Security Solutions
- Organizations’ Doubts About Cloud-Based Security
- Availability of Free Security Services and Security Solution Suites
- Increase in Adoption of Cloud-Based Services Among SMEs
- Rapid Growth in Bring Your Own Device and Carry Your Own Device Trends
- Lack of Skilled IT Security Professionals
- Rise in IT Infrastructure Complexities
- Adoption of Security as a Service for Mitigating Internal & External Cyber Threats
- Adoption of Security as a Service Among Leading Energy & Utilities Companies
- Dependence of a Leading IT & Telecom Company on Distributed Denial of Service Protection and Mitigation Solutions & Services
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Security as a Service Market By Component
7 Security as a Service Market By Solution
8 Security as a Service Market By Service
9 Security as a Service Market By Application Area
10 Security as a Service Market By Organization Size
11 Security as a Service Market By Vertical
12 Security as a Service Market By Region
13 Competitive Landscape
14 Company Profiles
- Alert Logic
- Barracuda Networks
- Happiest Minds
- Panda Security
- Sentinel Technologies
- Trend Micro
For more information about this report visit https://www.researchandmarkets.com/r/umpfm3
View source version on businesswire.com:https://www.businesswire.com/news/home/20190522005358/en/
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Related Topics:IT Security
KEYWORD: EUROPE ASIA PACIFIC NORTH AMERICA SOUTH AMERICA
INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE SECURITY
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 05/22/2019 05:51 AM/DISC: 05/22/2019 05:51 AM