Global Security as a Service Market Size By Segmentations, Top Key Players, Trend, Future Development & Forecast 2024-2035
- PUBLISHED ON
- 11/23/2022
- NO OF PAGES
- 228
- CATEGORY
- Information Technology
Market Overview:
The Global Security as a Service Market size was valued at USD 13.4 billion in 2022 and is estimated to reach USD 43.8 billion by 2032, at a CAGR of 13.8% from 2022 to 2032.
Security as a Service (SECaaS) is a cloud-based delivery model that offers security services to users on a subscription basis. It provides organizations with a cost-effective and scalable solution for managing their security needs, allowing them to focus on their core business functions. SECaaS has several advantages over traditional security solutions. Firstly, it allows organizations to shift from a capital expenditure (CapEx) to an operational expenditure (OpEx) model, reducing the upfront costs associated with security investments. This can be especially beneficial for smaller organizations with limited budgets. SECaaS providers have access to the latest security technologies, which are continually updated and improved to keep up with the changing threat landscape. This means that organizations can benefit from advanced security features without having to invest in expensive hardware and software.
SECaaS provides organizations with the flexibility to scale their security needs as their business grows. This means that they can quickly and easily add or remove security services as needed, without having to worry about infrastructure limitations. SECaaS offers organizations the ability to outsource their security needs to experts in the field, reducing the burden on their internal IT teams. This can be particularly beneficial for organizations that do not have the resources to hire and train dedicated security personnel. The adoption of SECaaS has been particularly strong among small and medium-sized enterprises (SMEs) that lack the resources to implement and manage traditional security solutions. Cloud-based SECaaS solutions are particularly attractive to SMEs, as they offer a cost-effective and scalable alternative to traditional security solutions.
Increasing need for businesses and organizations to protect their digital assets and sensitive information from cyber threats and attacks.
In today's digital age, businesses and organizations rely heavily on technology and the internet to store, process, and transmit sensitive information. This includes financial data, personal information, intellectual property, and other confidential information that, if breached, could cause significant harm to the organization and its stakeholders. Cyber threats and attacks, such as hacking, phishing, malware, and ransomware, have become more frequent and sophisticated, making it difficult for businesses to protect themselves without specialized expertise and resources. As a result, the demand for security services has increased to help businesses and organizations mitigate the risks associated with these threats. Security services include a wide range of offerings such as risk assessments, vulnerability testing, security monitoring, incident response, and managed security services. These services are typically provided by specialized security firms that have the expertise and resources to identify and mitigate security risks and threats.
The service as a security market has been growing rapidly in recent years, as businesses and organizations have become more aware of the risks associated with cyber threats and the potential consequences of a security breach. The market is expected to continue to grow in the future as the number of cyber threats and attacks increases, and businesses continue to look for ways to protect their sensitive information and digital assets.
Segmentation:
By Application
· Network Security
· Web Security
· Email Security
· Database and Cloud Security
· Others
By Organization Size
· Small and Medium Scale
· Large Scale
By Industry Verticals
· BFSI
· Aerospace & Defense
· Healthcare
· IT & Telecom
· Retail
· Other
Geography:
The services as a security market is a global market, with demand for security services growing across all regions of the world. However, certain regions have emerged as dominant players in the market. Currently, North America is the largest market for security services, accounting for a significant share of the global market. This is due to the high adoption of advanced security solutions and the presence of several key security service providers in the region. The United States, in particular, has a large and mature security services market, driven by the high demand for cybersecurity solutions and services from businesses and government organizations.
Europe is also a significant player in the security services market, with countries like the United Kingdom, Germany, and France leading the way. The European market is driven by increasing investments in cybersecurity by businesses and government organizations and the growing need for compliance with data protection regulations such as the General Data Protection Regulation (GDPR). The Asia-Pacific region is another growing market for security services, with countries like China, Japan, and India leading the way. The region is experiencing rapid economic growth and digital transformation, which is driving the demand for advanced security solutions and services. Overall, while North America currently dominates the services as a security market, other regions like Europe and Asia-Pacific are expected to grow rapidly in the coming years, driven by increasing awareness of the importance of cybersecurity and the growing threat of cyber-attacks.
Impact of COVID-19 on the global Security as a Service Market:
The COVID-19 pandemic has had a significant impact on the security as a service market, both in the short term and long term. In the short term, the pandemic has led to a surge in demand for security services as businesses and organizations have been forced to shift to remote work and online operations. This has increased the risk of cyber-attacks and data breaches, as employees access sensitive information from their home networks and devices, which may not be as secure as those in the office. As a result, businesses have had to invest in additional security measures and services to protect their digital assets and information.
However, the pandemic has also had a negative impact on the security as a service market in the short term. Many businesses have faced financial difficulties due to the pandemic, leading them to cut back on spending on non-essential services like security. Additionally, supply chain disruptions and workforce shortages have made it difficult for security service providers to deliver their services, leading to delays and reduced capacity.
Impact of the Russia-Ukraine War on the global Security as a Service Market:
The ongoing conflict between Russia and Ukraine is likely to have a significant impact on the security as a service market in several ways. Firstly, the conflict has increased the geopolitical tensions between Russia and the West, leading to concerns about cyber-attacks and espionage. This has resulted in an increased demand for security services, particularly in the areas of threat intelligence, incident response, and managed security services.
Secondly, the conflict has highlighted the vulnerabilities of critical infrastructure, such as energy and telecommunications, to cyber-attacks. This has led to increased demand for security services that specialize in protecting critical infrastructure from cyber threats and attacks. Thirdly, the conflict has led to an increase in state-sponsored cyber-attacks and espionage, which is likely to continue even after the conflict ends. This has led to an increased demand for security services that specialize in detecting and mitigating state-sponsored cyber threats. However, the conflict is also likely to have a negative impact on the security as a service market in the region. The economic sanctions and political instability resulting from the conflict could lead to a reduction in investment in cybersecurity by businesses and governments in the region, leading to reduced demand for security services.
Overall, the impact of the Russia-Ukraine conflict on the security as a service market is complex and multifaceted. While the conflict has led to increased demand for certain types of security services, it has also created economic and political uncertainties that could affect the market in the long term.
Company Profiles:
· IBM Security Services
· Cisco Systems
· Symantec Corporation
· McAfee LLC
· Palo Alto Networks
· Check Point Software Technologies Ltd.
· Fortinet Inc.
· Trend Micro Inc.
· FireEye Inc.
· RSA Security LLC
· Akamai Technologies
· Trustwave Holdings Inc.
· Proofpoint Inc.
· F5 Networks Inc.
· Rapid7 Inc.
Global Security as a Service Market: Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of various other dependent sub-markets of various marketspaces. The key players in the markets are identified through secondary research, and their market contributions in different applications across regions and globally were determined through primary and secondary research. This entire process included the study of the annual and financial reports of the top market players and extensive interviews for key insights with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to arrive at the final quantitative and qualitative data. This data has been consolidated, and detailed inputs and analysis from Analytics Market Research added before being presented in this report.
Reasons to Purchase Security as a Service Market Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
Frequently Asked Questions
• What is the market size and growth projections?
• What is the market size and growth projection for each of the market segments and sub-segments across Countries & Regions?
• What are the top performing segments, and countries / regions of each of the markets?
• What is the market size and growth rate across key countries / regions?
• How big is the global & regional market in terms of revenue and volume?
• How far market will grow in forecast period in terms of revenue and volume?
• What factors will influence demand and supply trends across each markets during the forecast period?
• What are the technology trends shaping various markets?
• Which country / region has more opportunities?
• What is the COVID-19 impact on the market and how long will it take to recover?
• Who are the key competitors of market Players?
• What are the market share (%) of Key Players?
• What are the Merger & Acquisition, New Product Launch, Recent Development within each of the Markets?
• What are PEST analysis, Ecosystem Analysis, Porter's Five Forecast Analysis, Ansoff Matrix, and SWOT Analysis among other analyses for diverse markets?
Historic Year: 2016-2022
Forecast: 2024-2035
1.1 Study Scope
1.2 Market Analysis by Type
1.2.1 Global Security as a Service Market Size Growth Rate by Type: 2016 VS 2021 VS 2030
1.2.2 Authentication
1.2.3 Anti-Virus
1.2.4 Anti-Malware/Spyware
1.2.5 Intrusion Detection
1.2.6 Penetration Testing
1.2.7 Security Event Management
1.2.8 Other
1.3 Market by Application
1.3.1 Global Security as a Service Market Share by Application: 2016 VS 2021 VS 2030
1.3.2 Commercial
1.3.3 Government
1.3.4 Residential
1.3.5 Other
1.4 Study Objectives
1.5 Years Considered
2 Global Growth Trends
2.1 Global Security as a Service Market Perspective (2016-2030)
2.2 Security as a Service Growth Trends by Regions
2.2.1 Security as a Service Market Size by Regions: 2016 VS 2021 VS 2030
2.2.2 Security as a Service Historic Market Share by Regions (2016-2021)
2.2.3 Security as a Service Forecasted Market Size by Regions (2022-2030)
2.3 Security as a Service Industry Dynamic
2.3.1 Security as a Service Market Trends
2.3.2 Security as a Service Market Drivers
2.3.3 Security as a Service Market Challenges
2.3.4 Security as a Service Market Restraints
3 Competition Landscape by Key Players
3.1 Global Top Security as a Service Players by Revenue
3.1.1 Global Top Security as a Service Players by Revenue (2016-2021)
3.1.2 Global Security as a Service Revenue Market Share by Players (2016-2021)
3.2 Global Security as a Service Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
3.3 Players Covered: Ranking by Security as a Service Revenue
3.4 Global Security as a Service Market Concentration Ratio
3.4.1 Global Security as a Service Market Concentration Ratio (CR5 and HHI)
3.4.2 Global Top 10 and Top 5 Companies by Security as a Service Revenue in 2020
3.5 Security as a Service Key Players Head office and Area Served
3.6 Key Players Security as a Service Product Solution and Service
3.7 Date of Enter into Security as a Service Market
3.8 Mergers & Acquisitions, Expansion Plans
4 Security as a Service Breakdown Data by Type
4.1 Global Security as a Service Historic Market Size by Type (2016-2021)
4.2 Global Security as a Service Forecasted Market Size by Type (2022-2030)
5 Security as a Service Breakdown Data by Application
5.1 Global Security as a Service Historic Market Size by Application (2016-2021)
5.2 Global Security as a Service Forecasted Market Size by Application (2022-2030)
6 North America
6.1 North America Security as a Service Market Size (2016-2030)
6.2 North America Security as a Service Market Size by Type
6.2.1 North America Security as a Service Market Size by Type (2016-2021)
6.2.2 North America Security as a Service Market Size by Type (2022-2030)
6.2.3 North America Security as a Service Market Size by Type (2016-2030)
6.3 North America Security as a Service Market Size by Application
6.3.1 North America Security as a Service Market Size by Application (2016-2021)
6.3.2 North America Security as a Service Market Size by Application (2022-2030)
6.3.3 North America Security as a Service Market Size by Application (2016-2030)
6.4 North America Security as a Service Market Size by Country
6.4.1 North America Security as a Service Market Size by Country (2016-2021)
6.4.2 North America Security as a Service Market Size by Country (2022-2030)
6.4.3 United States
6.4.3 Canada
7 Europe
7.1 Europe Security as a Service Market Size (2016-2030)
7.2 Europe Security as a Service Market Size by Type
7.2.1 Europe Security as a Service Market Size by Type (2016-2021)
7.2.2 Europe Security as a Service Market Size by Type (2022-2030)
7.2.3 Europe Security as a Service Market Size by Type (2016-2030)
7.3 Europe Security as a Service Market Size by Application
7.3.1 Europe Security as a Service Market Size by Application (2016-2021)
7.3.2 Europe Security as a Service Market Size by Application (2022-2030)
7.3.3 Europe Security as a Service Market Size by Application (2016-2030)
7.4 Europe Security as a Service Market Size by Country
7.4.1 Europe Security as a Service Market Size by Country (2016-2021)
7.4.2 Europe Security as a Service Market Size by Country (2022-2030)
7.4.3 Germany
7.4.4 France
7.4.5 U.K.
7.4.6 Italy
7.4.7 Russia
7.4.8 Nordic
8 Asia-Pacific
8.1 Asia-Pacific Security as a Service Market Size (2016-2030)
8.2 Asia-Pacific Security as a Service Market Size by Type
8.2.1 Asia-Pacific Security as a Service Market Size by Type (2016-2021)
8.2.2 Asia-Pacific Security as a Service Market Size by Type (2022-2030)
8.2.3 Asia-Pacific Security as a Service Market Size by Type (2016-2030)
8.3 Asia-Pacific Security as a Service Market Size by Application
8.3.1 Asia-Pacific Security as a Service Market Size by Application (2016-2021)
8.3.2 Asia-Pacific Security as a Service Market Size by Application (2022-2030)
8.3.3 Asia-Pacific Security as a Service Market Size by Application (2016-2030)
8.4 Asia-Pacific Security as a Service Market Size by Region
8.4.1 Asia-Pacific Security as a Service Market Size by Region (2016-2021)
8.4.2 Asia-Pacific Security as a Service Market Size by Region (2022-2030)
8.4.3 China
8.4.4 Japan
8.4.5 South Korea
8.4.6 Southeast Asia
8.4.7 India
8.4.8 Australia
9 Latin America
9.1 Latin America Security as a Service Market Size (2016-2030)
9.2 Latin America Security as a Service Market Size by Type
9.2.1 Latin America Security as a Service Market Size by Type (2016-2021)
9.2.2 Latin America Security as a Service Market Size by Type (2022-2030)
9.2.3 Latin America Security as a Service Market Size by Type (2016-2030)
9.3 Latin America Security as a Service Market Size by Application
9.3.1 Latin America Security as a Service Market Size by Application (2016-2021)
9.3.2 Latin America Security as a Service Market Size by Application (2022-2030)
9.3.3 Latin America Security as a Service Market Size by Application (2016-2030)
9.4 Latin America Security as a Service Market Size by Country
9.4.1 Latin America Security as a Service Market Size by Country (2016-2021)
9.4.2 Latin America Security as a Service Market Size by Country (2022-2030)
9.4.3 Mexico
9.4.4 Brazil
10 Middle East & Africa
10.1 Middle East & Africa Security as a Service Market Size (2016-2030)
10.2 Middle East & Africa Security as a Service Market Size by Type
10.2.1 Middle East & Africa Security as a Service Market Size by Type (2016-2021)
10.2.2 Middle East & Africa Security as a Service Market Size by Type (2022-2030)
10.2.3 Middle East & Africa Security as a Service Market Size by Type (2016-2030)
10.3 Middle East & Africa Security as a Service Market Size by Application
10.3.1 Middle East & Africa Security as a Service Market Size by Application (2016-2021)
10.3.2 Middle East & Africa Security as a Service Market Size by Application (2022-2030)
10.3.3 Middle East & Africa Security as a Service Market Size by Application (2016-2030)
10.4 Middle East & Africa Security as a Service Market Size by Country
10.4.1 Middle East & Africa Security as a Service Market Size by Country (2016-2021)
10.4.2 Middle East & Africa Security as a Service Market Size by Country (2022-2030)
10.4.3 Turkey
10.4.4 Saudi Arabia
10.4.5 UAE
11 Key Players Profiles
11.1 Cisco Systems
11.1.1 Cisco Systems Company Details
11.1.2 Cisco Systems Business Overview
11.1.3 Cisco Systems Security as a Service Introduction
11.1.4 Cisco Systems Revenue in Security as a Service Business (2016-2021)
11.1.5 Cisco Systems Recent Development
11.2 Honeywell
11.2.1 Honeywell Company Details
11.2.2 Honeywell Business Overview
11.2.3 Honeywell Security as a Service Introduction
11.2.4 Honeywell Revenue in Security as a Service Business (2016-2021)
11.2.5 Honeywell Recent Development
11.3 Samsung Techwin
11.3.1 Samsung Techwin Company Details
11.3.2 Samsung Techwin Business Overview
11.3.3 Samsung Techwin Security as a Service Introduction
11.3.4 Samsung Techwin Revenue in Security as a Service Business (2016-2021)
11.3.5 Samsung Techwin Recent Development
11.4 Hewlett-Packard Enterprise
11.4.1 Hewlett-Packard Enterprise Company Details
11.4.2 Hewlett-Packard Enterprise Business Overview
11.4.3 Hewlett-Packard Enterprise Security as a Service Introduction
11.4.4 Hewlett-Packard Enterprise Revenue in Security as a Service Business (2016-2021)
11.4.5 Hewlett-Packard Enterprise Recent Development
11.5 S2 Security
11.5.1 S2 Security Company Details
11.5.2 S2 Security Business Overview
11.5.3 S2 Security Security as a Service Introduction
11.5.4 S2 Security Revenue in Security as a Service Business (2016-2021)
11.5.5 S2 Security Recent Development
11.6 Panasonic
11.6.1 Panasonic Company Details
11.6.2 Panasonic Business Overview
11.6.3 Panasonic Security as a Service Introduction
11.6.4 Panasonic Revenue in Security as a Service Business (2016-2021)
11.6.5 Panasonic Recent Development
11.7 Bosch Security Systems
11.7.1 Bosch Security Systems Company Details
11.7.2 Bosch Security Systems Business Overview
11.7.3 Bosch Security Systems Security as a Service Introduction
11.7.4 Bosch Security Systems Revenue in Security as a Service Business (2016-2021)
11.7.5 Bosch Security Systems Recent Development
11.8 CheckPoint Software Technologies
11.8.1 CheckPoint Software Technologies Company Details
11.8.2 CheckPoint Software Technologies Business Overview
11.8.3 CheckPoint Software Technologies Security as a Service Introduction
11.8.4 CheckPoint Software Technologies Revenue in Security as a Service Business (2016-2021)
11.8.5 CheckPoint Software Technologies Recent Development
11.9 Siemens
11.9.1 Siemens Company Details
11.9.2 Siemens Business Overview
11.9.3 Siemens Security as a Service Introduction
11.9.4 Siemens Revenue in Security as a Service Business (2016-2021)
11.9.5 Siemens Recent Development
11.10 Axis
11.10.1 Axis Company Details
11.10.2 Axis Business Overview
11.10.3 Axis Security as a Service Introduction
11.10.4 Axis Revenue in Security as a Service Business (2016-2021)
11.10.5 Axis Recent Development
11.11 Fortinet
11.11.1 Fortinet Company Details
11.11.2 Fortinet Business Overview
11.11.3 Fortinet Security as a Service Introduction
11.11.4 Fortinet Revenue in Security as a Service Business (2016-2021)
11.11.5 Fortinet Recent Development
11.12 Schneider Electric
11.12.1 Schneider Electric Company Details
11.12.2 Schneider Electric Business Overview
11.12.3 Schneider Electric Security as a Service Introduction
11.12.4 Schneider Electric Revenue in Security as a Service Business (2016-2021)
11.12.5 Schneider Electric Recent Development
11.13 Salient Systems
11.13.1 Salient Systems Company Details
11.13.2 Salient Systems Business Overview
11.13.3 Salient Systems Security as a Service Introduction
11.13.4 Salient Systems Revenue in Security as a Service Business (2016-2021)
11.13.5 Salient Systems Recent Development
11.14 NortekSecurity
11.14.1 NortekSecurity Company Details
11.14.2 NortekSecurity Business Overview
11.14.3 NortekSecurity Security as a Service Introduction
11.14.4 NortekSecurity Revenue in Security as a Service Business (2016-2021)
11.14.5 NortekSecurity Recent Development
12 Analyst's Viewpoints/Conclusions
13 Appendix
13.1 Research Methodology
13.1.1 Methodology/Research Approach
13.1.2 Data Source
13.2 Disclaimer
13.3 Author Details
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached Straits Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
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Market Estimates and Forecast
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Case Study- ICT Sector
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Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2028.
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