Market Overview

The security as a service solution also referred to as SaaS is an outsourcing model used for security management in different organizations. The security as a service model can be deployed on monthly rental basis combined with scalable and customizable solution range. Generally, these security solutions include anti-virus, intrusion detection, authentication, anti-malware/spyware, penetration testing, and security event management. The SaaS solutions providers incorporate their cloud security services into corporate network, in order to offer cloud-base security services to different organizations. SaaS is being implemented in various enterprises, owing to its low cost and ease of management.

The global security-as-a-service market was valued at US$ 5,635.4 Mn by the end of 2019 and is expected to grow at a CAGR of 17.1% over the forecasted period 2019-27.

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Market Dynamics

Growing adoption of cloud computing is expected to drive growth of the global security-as-a-service market over the forecast period. As Adoption of cloud computing for various applications such as email services, data backups, and ERP, CRM and collaboration services has increased significantly in the recent past. This, in turn, has increased implementation of SaaS in various enterprises. Moreover, increasing demand for integrated data protection and solutions among SMEs is expected to present lucrative growth opportunity for the global security as a service market. As Small- and mid-sized enterprises have started progressively implementing SaaS solutions in the recent past. Integrated data protection and solutions provide various services including complete backup, deduplication, replication, recovery, instant access, and restoration. Such services deliver powerful data protection capabilities and thus are being increasingly adopted by SMEs. Furthermore, adoption of integrated data protection minimizes additional expenditure on operations, which proves to be essential for SMEs, considering their limited overall budget.

Detailed Segmentation:

Global Security-as-a-Service Market, By Enterprise Size:

Small Enterprise

Medium Enterprise

Large Enterprise

Global Security-as-a-Service Market, By Industry Type:

BFSI

IT and Telecom

Retail and Consumer Goods

Healthcare

Others (Hospitality and Manufacturing)

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Key players involved in the global security-as-a-service market are Proofpoint Inc., Okta, Inc., Gemalto NV, Qualys, Inc., Intel Security, Zscaler, Inc., Cisco Systems Inc., Alert Logic, Inc., Oracle Corporation, and Trend Micro Inc.

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