An outsourcing model to manage security in organizations is known as Security-as-a-service (SaaS). Service providers offer their services on a subscription basis to organizations, to provide complete security and cost-effective solutions. Traditionally, to maintain business security, solutions such as spam filtering and virus protection were provided locally by systems with internal responsibility to ensure that all policies and security updates were properly maintained and installed. This usually entailed installation costs for hardware and ongoing costs for software licensing. Security as a service offers several benefits to organizations (over traditional methods) such as constant virus updates, high level of security, faster operations, and cost effective solutions. Use of cloud technology has increased prominently over the years, which has created the need to have more protected and cost-effective security solutions. Intense competition and government regulations have encouraged the market to create a better service, complying with government regulations.

There are various factors driving the growth of the security as a service market. One of the key factors is the increase in online criminal activities and the increase in number of mobile devices. Also, the ample growth of organizational data is an important factor to consider. Availability of cost-effective security solutions, advance security tools, and access to contextual expertise are some of the driving factors of the software as a service market. The growth in trend of bring- your- own device (BYOD), increased e-businesses, increased awareness about data security, and acceptance of managed security practices create adequate opportunities in the market. However, the security as a service market also has some challenges such as the absence of trustworthy security tools.  Availability of access to sensitive data to the vendors entails security concerns. SaaS is accessible online, which poses security threats to the system. Additionally, the adoption rate of security as a service is limited due to reluctance of customers to share sensitive information, availability of free of cost security service, and unwillingness of organizations to use cloud based security solutions.

The security as a service market is segmented on the basis of solution, service, application area, organization size, vertical, and geographic region. By solution, the market is bifurcated into security information and event management (SIEM), end-point protection, intrusion detection and prevention systems (IDS/IPS), identity access management (IAM), data loss prevention (DLP), and email encryption. On the basis of service, the market is segregated into groups which include consulting services, and training and education. Furthermore, the market is divided based on application area into email security, web security, network security, and database cloud security. On the basis of organization size, the market is sub divided into small and medium enterprises (SMES) and large enterprises. By vertical, the market is segmented into BFSI, healthcare, IT and telecom, government and defense, oil and gas, and retail. Geographically, the security as a service market is segmented over North America, Europe, South America, Asia Pacific, and Middle East & Africa. APAC is the fastest growing region in the security as a service market and is expected to expand in the near future. APAC offers remarkable growth potential due to several countries in the region majorly investing in endpoint security solutions and data loss prevention.

Key players in the security as a service market include Trend Micro, McAfee, Symantec Corporation, Cisco Systems, Inc., Panda Security, Fortinet, Inc., Zscaler, Inc., Radware, Alert Logic, Inc. and Ciphercloud. These players are actively involved in organic and inorganic growth strategies in order to gain competitive advantage over others in the industry. Partnerships, collaborations, new product launches, and agreements are some of the vital strategies followed by them.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Security As A Service Market

Pre Book