Global Security as a Service (SaaS) Industry Overview 2020-2025 with Detailed Profiles of 30 Major Players Including McAfee, Trend Micro, IBM and Microsoft
DUBLIN, Aug. 7, 2020 /PRNewswire/ -- The "Security as a Service Market by Component (Solution and Service), Application Area (Network Security, Endpoint Security, Application Security, and Cloud), Organization Size, Vertical, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
In the post COVID-19 scenario, the global security as a service market is estimated to grow from USD 11,128 million in 2020 to USD 26,478 million by 2025, at a CAGR of 18.9% from 2020 to 2025.
Mandates to follow regulatory and data protection laws are expected to drive the security as a service market
The factors expected to drive the security as a service industry area growing need to follow regulatory and data protection laws and increasing demand for cloud-based security solutions. However, organizations'uncertainties about cloud-based security and the availability of free security solution suites and services is still a concern for organizations. Furthermore, a rise in infrastructure complexities is expected to restrain the market growth.
The security as a service market by service includes consulting, training and education, and support and maintenance services. These services help clients understand their solutions and related processes. The solution segment is expected to hold a larger market size during the forecast period. The security as a service solution is being deployed by a large number of Small and Medium-sized Enterprises (SMEs) to secure their organizations from the increasing cyber threats across their cloud-based applications and platforms.
The SME segment is expected to grow at a higher CAGR, owing to the rising deployment of the security as a service solution by SMEs to protect their cloud-based applications proactively. SMEs are small in terms of their size but cater to a large number of customers globally. The robust and comprehensive security as a service solution is not implemented in SMEs, due to financial constraints in these organizations.
Weak cybersecurity and low budget make SMEs more susceptible to data breaches and identity thefts. However, the rising sophistication level of cyber-attacks and the increasing need to protect the cloud-based applications and platforms for ensuring customer data protection as well as organization data protection are expected to drive the growth of the market among SMEs. The large enterprise segment to hold a higher market share in 2018 owing to the initial adoption of cloud-based security solutions
APAC includes major economies, such as India, China, Australia, Hong Kong, and Japan, which are rapidly deploying the security as a service solution. APAC is expected to grow at the highest CAGR during the forecast period. The APAC security as a service market is gaining traction, as this region is showing the highest growth of cloud-based technologies and solutions adopted for their business functions, and this, in turn, increases the need to secure these solutions against cyber threats and attacks.
SMEs, as well as large organizations in the APAC region, have become more aware of security as a service and started adopting them to combat cyber frauds and data thefts to their cloud-based applications. Furthermore, North America is expected to have the largest market size in 2020 owing to the presence of a large number of vendors and initial adoption of security as a service solutions due to advanced cyber-attacks.
Key Topics Covered
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Research and Markets
View original content:http://www.prnewswire.com/news-releases/global-security-as-a-service-saas-industry-overview-2020-2025-with-detailed-profiles-of-30-major-players-including-mcafee-trend-micro-ibm-and-microsoft-301108472.html
SOURCE Research and Markets
IoT Transportation Solutions for Government Agencies
Occupant Wellness in the Indoor Environment