Select Language
According to the latest report by IMARC Group, titled “Security as a Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global security as a service market reached a value of US$ 12.64 Billion in 2021. Security as a service (SECaaS) refers to a cloud-based model for outsourcing cybersecurity services. The service provider handles and manages the security of the organization by integrating its security services into the organization’s infrastructure on a subscription basis. Anti-virus, anti-malware, secure email and web gateway, vulnerability management, identity and access management, intrusion detection, and application security testing are some of the standard services provided by SECaaS solutions. They are employed to assist organizations in providing enhanced protection against online threats, faster provision, and greater agility, increasing security, compliance, and cost-effectiveness, and improving organizational performance.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Security as a Service Market Trends-
The increasing instances of cyberattacks, viruses, and spyware across sectors, specifically in the BFSI industry, are creating a positive outlook for the market. SECaaS is widely used in banking systems as they consist of sensitive information about employee identity, tangible and intangible assets, money transactions, and customer information. In line with this, the increasing penetration of cloud-based technology to simplify digital banking processes and reduce the costs and risks of on-premises security solutions is favoring the market growth. Apart from this, the widespread product adoption among organizations amid the coronavirus disease (COVID-19) outbreak due to the rising security concerns and the increasing number of individuals following the work-from-home (WFH) corporate model is providing a thrust to the market growth. Moreover, various technological advancements, such as the integration of the Internet of Things (IoT) and real-time monitoring, owing to the emerging trend of bring-your-own-device (BYOD), are propelling the market growth. Other factors, including the increasing demand for cloud-based security solutions, significant improvements in the information technology (IT) infrastructure, and the implementation of various government initiatives mandating and regulating data protection laws, are anticipated to drive the market toward growth. On account of the aforementioned factors, the market is expected to reach US$ 30.17 Billion by 2027, exhibiting a CAGR of 15.10% during 2022-2027.
Market Summary:
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us
IMARC Group
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Website: https://www.imarcgroup.com/
Email: sales@imarcgroup.com
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800
REACH OUT TO US
Call us on
( US: +1-631-791-1145 )
( UK: +44-753-713-2163 )
( India: +91-120-433-0800 )
Drop us an email at
sales@imarcgroup.com