Market Overview:
The global security as a service market reached a value of US$ 12.64 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 30.17 Billion by 2027, exhibiting a growth rate (CAGR) of 15.10% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Security as a Service, or SECaaS, is an umbrella term for various cloud-based cybersecurity solutions outsourced by organizations. Some commonly provided SECaaS solutions include secure email and web gateway, identity and access management, anti-virus, anti-malware, intrusion detection, vulnerability management, and application security testing. These services are integrated into the business infrastructure and offered on a subscription basis hosted by cloud providers. They help organizations free up resources, save costs, work with the latest tools and security updates, and scale security needs as the business grows. As a result, SECaaS has gained traction due to its cost efficiency, higher security expertise, enhanced protection against online threats, faster provisioning, and greater agility.
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Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
Security as a Service Market Trends:
The escalating demand for cloud-based security solutions and the high costs and risks involved in managing on-premises security solutions represent the primary factors driving the market growth. Additionally, with the improving IT infrastructure of organizations, there has been a significant rise in online threats, such as data breaches and identity thefts. Along with this, the growing need to comply with stringent regulatory and data protection laws is catalyzing the demand for SECaaS solutions. Besides this, the rising security concerns due to the increasing number of individuals working remotely amid the recent coronavirus disease (COVID-19) outbreak are encouraging organizations to adopt advanced security solutions like SECaaS. Furthermore, the leading players are focusing on product innovations to expand their product portfolio and gain a competitive edge in the market. Other factors, including the rising adoption of bring-your-own-device (BYOD) policies, increasing penetration of the Internet of Things (IoT), and technological advancements, are also creating a positive market outlook.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global security as a service market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, organization size, application and vertical.
Breakup by Component:
Breakup by Organization Size:
- Small and Medium-sized Enterprises
- Large Enterprises
Breakup by Application:
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Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
Breakup by Vertical:
- BFSI
- Government and Defense
- Retail and E-Commerce
- Healthcare and Life Sciences
- IT and Telecom
- Energy and Utilities
- Manufacturing
- Others
Breakup by Region:
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- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Alert Logic Inc., Barracuda Networks Inc., Cisco Systems Inc., Dell Technologies Inc., Fortinet Inc., International Business Machines Corporation, McAfee LLC, Microsoft Corporation, Okta Inc., Proofpoint Inc., Qualys Inc., Radware Ltd., Trend Micro Incorporated and Zscaler Inc.
Report Coverage:
Report Features |
Details |
Base Year of the Analysis |
2021 |
Historical Period |
2016-2021 |
Forecast Period |
2022-2027 |
Units |
US$ Billion |
Segment Coverage |
Component, Organization Size, Application, Vertical, Region |
Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered |
Alert Logic Inc., Barracuda Networks Inc., Cisco Systems Inc., Dell Technologies Inc., Fortinet Inc., International Business Machines Corporation, McAfee LLC, Microsoft Corporation, Okta Inc., Proofpoint Inc., Qualys Inc., Radware Ltd., Trend Micro Incorporated and Zscaler Inc. |
Customization Scope |
10% Free Customization |
Report Price and Purchase Option |
Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499 |
Post-Sale Analyst Support |
10-12 Weeks |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |