Global Security As A Service Market: Market Research by Knowledge Sourcing Intelligence


Security as a Service Market


Security as a service refers to the outsourcing of service, wherein the outsourced company handles and manages the security. Security as a service not only includes anti-virus software, but also in-house security management. These services help the management focus on the core and complex issues get the best people working for the security, cost-saving, and availability of the latest and most advanced security tools. Security as a service market is rapidly increasing its size owing to the regulatory mandate and data protection laws. Also, the services help in the prevention of data loss and identity theft. The increase in the number of cyber-attacks and digitalization in the retail sector, along with the growing demand for cloud-based security solutions due to its benefits such as customer data security, flexibility, mobility, and others is also propelling the market growth. However, the cautious nature of the small and medium-sized enterprises regarding the adoption of cloud-based security, poor internet connection in some areas, and the high cost incurred in implementing the cloud-based security systems could act as restraints for the growth of the market.  Key industry players in the Security as a Services market are Symantec Corporation, McAfee, LLC and Okta Inc. among others.


Market Segmentation

The Security as a Service Market has been segmented based on type, enterprise size, end-user industry, and geography. By type, the market is classified as email protection, data loss prevention, web protection, network protection, identity and access protection, and others. The network protection segment holds a significant share of the security as a service market size owing to the increased usage of cloud-based technologies for storage. The network protection technique helps in protecting the network by restricting the device management accessibility to authorized terminals, portals, services, ports, and protocols.
By enterprise size, the market is classified as Small Enterprise, Medium Enterprises, and large Enterprises. The large enterprises account for the largest share in the market. This could be due to the strict adherence to following regulatory and data protection laws by the large enterprises and the increasing number of cyberattacks. The small enterprise segment is also growing rapidly due to the increasing incidences of cyberattacks in it. This also opens a scope for the increase in security as a service market growth to continue.
By end-user, the market is classified as BFSI, Communication, and Technology, Healthcare, Government, Defence, and others. The security as a service market analysis shows that communication and technology segment holds the maximum revenue share due to the widespread usage of the internet and various developments and updates in the IT regulations.
Based on Geography, the market is classified as North America, South America, Europe, Middle East and Africa, and the Asia Pacific. The North America region is the largest revenue-generating region in the security as a service market share due to the presence of many key players, rapid adoption of cloud technology, increasing Internet of things, and growing internal and external threats. Europe region is followed by the North America region in the account of generating revenue.

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