Security as a Service Market Report by Component (Solution, Services), Organization Size (Small and Medium-sized Enterprises, Large Enterprises), Application (Network Security, Endpoint Security, Application Security, Cloud Security, and Others), Vertical (BFSI, Government and Defense, Retail and E-Commerce, Healthcare and Life Sciences, IT and Telecom, Energy and Utilities, Manufacturing, and Others), and Region 2024-2032
The global security as a servicemarket size reached US$ 16.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 51.3 Billion by 2032, exhibiting a growth rate (CAGR) of 13.1% during 2024-2032.
Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 16.6 Billion
Market Forecast in 2032
US$ 51.3 Billion
Market Growth Rate 2024-2032
13.1%
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.
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.
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.
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Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global security as a servicemarket report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on component, organization size, application and vertical.
Breakup by Component:
Solution
Services
Breakup by Organization Size:
Small and Medium-sized Enterprises
Large Enterprises
Breakup by Application:
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.
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North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
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
2023
Historical Period
2018-2023
Forecast Period
2024-2032
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)
Key Questions Answered in This Report
The global security as a service market was valued at US$ 16.6 Billion in 2023.
We expect the global security as a service market to exhibit a CAGR of 13.1% during 2024-2032.
The escalating demand for cloud-based cybersecurity solutions for providing higher security expertise and enhancing protection against online threats, such as data breaches and identity thefts, is primarily driving the global security as a service market.
The sudden outbreak of the COVID-19 pandemic has led to the increasing adoption of security as a service solutions, owing to the high risk of data vulnerability on account of the deployment of Work-From-Home (WFH) and Bring Your Own Device (BYOD) models by numerous organizations.
Based on the component, the global security as a service market has been divided into solution and services. Currently, solution exhibits a clear dominance in the market.
Based on the organization size, the global security as a service market can be categorized into small and medium-sized enterprises and large enterprises, where large enterprises hold the majority of the global market share.
Based on the application, the global security as a service market has been segmented into network security, endpoint security, application security, cloud security, and others. Among these, network security represents the largest market share.
Based on the vertical, the global security as a service market can be bifurcated into BFSI, government and defense, retail and e-commerce, healthcare and life sciences, IT and telecom, energy and utilities,
manufacturing, and others. Currently, the BFSI sector accounts for the majority of the total market share.
On a regional level, the market has been classified into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America, where North America currently dominates the global market.
Some of the major players in the global security as a service market include 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.
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