Global Security as a Service Market Overview 2024, Forecast To 2033
26 Feb, 2024
The security as a service market has seen robust growth, climbing from $14.45 billion in 2023 to $15.94 billion in 2024, with a 10.3% CAGR. This expansion is attributed to the adoption of cost-effective security solutions, the increasing complexity of the threat landscape, a focus on regulatory compliance, and challenges associated with remote workforces. The market is projected to reach $26 billion by 2028, driven by automated incident response, a focus on user identity and access management, quantum-safe security solutions, application security services, and continuous security training and awareness programs. Major trends include an emphasis on threat intelligence, endpoint security, mobile device management, identity and access management integration, and collaboration with managed security service providers.
Global Security as a Service Market Key Driver
The security as a service market is experiencing growth due to the increasing adoption of cloud-based services. Small and medium-scale enterprises are prioritizing cloud services to streamline business models, with approximately 40% of the global workforce adopting cloud-based services in 2020. The rising adoption of cloud services, coupled with concerns about cybersecurity, is boosting the security as a service market.
Get A Free Sample Of The Global Security as a Service Market ReportGlobal Security as a Service Market Segments
The security as a service market covered in this report is segmented –
1) By Component: Solution, Service
2) By Application: Network Security, Endpoint Security, Application Security, Cloud Security, Other Applications
3) By Organization Size: SMEs, Large Enterprises
4) By End User: BFSI, Telecom & IT, Healthcare, Retail, Manufacturing, Governmentent, Other End Users
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North America was the largest region in the security as a service market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the security as a service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Security as a Service Industry Players
Trend Micro Incorporated; IBM Corporation; Microsoft Corporation; Zscaler Inc.; Cisco Systems Inc.;Palo Alto Networks Inc.; Broadcom Inc.;Fortinet Inc.;Symantec;Check Point Software Technologies Ltd.;Texas Pacific Group;Proofpoint Inc.;CrowdStrike Holdings Inc.;Akamai Technologies Inc.;Barracuda Networks Inc.;SonicWall Inc.; Mandiant;Qualys Inc.;Rapid7 Inc;Bitdefender software;Sophos Group plc; Carbonite Inc.; BlackBerry Ltd;CipherCloud India Pvt Ltd.;F5 Networks Inc.;Cybereason Inc.;Darktrace;Trustwave;Exabeam; AT&T Cybersecurity
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Security as a Service Market Overview
Security as a service refers to a business model in which a service provider provides or integrates security solutions into the company’s infrastructure on a subscription basis. With the utilization of security as a service model, companies benefit from the expertise of a dedicated security team specialized in preventing breaches in cloud computing environments.
Security as a Service Global Market Report 2023 provides data on the global security as a service market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The security as a service market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.