Overview and Scope
Cybersecurity as a service (CSaaS) is a subscription-based model in which businesses hire external organizations to access cybersecurity capabilities via the Internet or cloud-based platforms. This service provides organizations with scalable, cost-effective, and flexible solutions to address evolving cybersecurity needs, leveraging the expertise and resources of specialized security providers to enhance overall security posture and resilience against cyber threats.
Sizing and Forecast
The cybersecurity as a service market size has grown rapidly in recent years. It will grow from $145.46 billion in 2023 to $161.15 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to growing incidence of data breaches, high costs associated with on- premise solutions, increased adoption from SME's, rising number of connected devices, increasing number of cyber-attacks.
The cybersecurity as a service market size is expected to see rapid growth in the next few years. It will grow to $246.96 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. The growth in the forecast period can be attributed to growing number of data breaches and cyber-attacks, government initiatives, increasing adoption of cloud security solutions, increase in the data stored on the cloud, rising number of cyberattacks. Major trends in the forecast period include innovative technology, rising trend of BYOD (bring your own device) in enterprises, adoption of cybersecurity solutions, adoption of cloud and virtualization technologies, impact of emerging technologies.
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Segmentation & Regional Insights
The cyber security as a service market covered in this report is segmented –
1) By Security Type: Vulnerability And Security Assessment, Threat Intelligence And Business Analytics, Auditing And Logging, Continuous Monitoring And Encryption, Identity And Access Management, Other Security Types
2) By Organization Size: Large Enterprises, Small And Medium-sized Enterprises
3)By End User: Retail, Banking, Financial Services, And Insurance (BFSI), Information Technology (IT) And Telecom, Healthcare, Government, Automotive, Other End-Users
North America was the largest region in the cybersecurity as a service market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cyber security as a service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The growing incidence of data breaches is expected to propel the growth of the cybersecurity as a service market going forward. A data breach is an incident where sensitive, protected, or confidential data is accessed, copied, transmitted, viewed, stolen, altered, or used without authorization. The incidence of data breaches is increasing due to cybercrime sophistication, data dependency, and a lack of security measures. Cybersecurity as a service helps reduce data breaches by providing continuous monitoring, vulnerability management, incident response, access control, security awareness training, and compliance assistance. For instance, in January 2023, according to The Identity Theft Resource Center, a US-based non-profit organization, the number of reported data breach incidents increased by 68% in 2022, with 1,862 breaches reported compared to 1,108 breaches in 2021. Therefore, the growing incidence of data breaches is driving the growth of the cybersecurity as a service market.
Key Industry Players
Major companies operating in the cyber security as a service market are Microsoft Corporation, AT&T Inc., IBM Corporation, Cisco Systems Inc., Oracle Corporation, Tata Consultancy Services Limited, BAE Systems plc, Capgemini SA, Fortinet Inc., NortonLifeLock Inc., Optiv Security Inc., Check Point Software Technologies Ltd., McAfee Inc., Trend Micro Incorporated, CrowdStrike Holding Inc., Okta Inc., ProofPoint Inc. , Zscaler Inc., FireEye Inc., Forcepoint LLC, Cyber Ark Software Ltd., Guidepoint Security LLC, Radware Ltd., Alert Logic Inc., LookingGlass Cyber Solutions Inc., Qualys Inc., Sophos Ltd., Stratejm Inc.
The cyber security as a service market report table of contents includes:
1. Executive Summary
2. Cyber Security As A Service Market Characteristics
3. Cyber Security As A Service Market Trends And Strategies
4. Cyber Security As A Service Market - Macro Economic Scenario
5. Global Cyber Security As A Service Market Size and Growth
....
32. Global Cyber Security As A Service Market Competitive Benchmarking
33. Global Cyber Security As A Service Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cyber Security As A Service Market
35. Cyber Security As A Service Market Future Outlook and Potential Analysis
36. Appendix
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Market Analysis The Security as a Service Market size is projected to reach USD 14.25 billion at a healthy 21.59% CAGR between 2017- 2023, states the new MRFR’s security as a service market forecast.
Defense, government, healthcare, retail, IT and telecom, oil and gas, BFSI, and others are some of its end users.
Various factors are fuelling the demand for the global security as a service market.
Such factors, as revealed by the new MRFR analysis, include the rise in cybercrime activities, rising trend of mobile devices, growth of sensitive organizational data, increase in the use of cloud technology, need for more cost-effective and protected security solutions, strict government regulations, rise in e-businesses, growing awareness about data security, growing trend of BYOD and IoT, and increasing adoption of managed security practices.
On the contrary, the on-going COVID-19 impact, the dynamic & increasing nature of cybercrime, reluctance to share sensitive data, accessibility of security services that are free of cost, and hesitation by organizations to cloud-based security may limit the global security as a service market growth over the forecast period.
Complete Report Details @ https://www.marketresearchfuture.com/reports/security-as-a-service-market-6709 Regional AnalysisBy region, the global SECaaS market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), & the Rest of the World (RoW).
Security as a Service Market Research Report, Component (Solution and Service), Application Area (Network, Email, and Other Security), Organization Size (SMEs and Large Enterprises), Vertical (BFSI, IT and Telecom, and Others) - Global Forecast till 2023Market HighlightsSecurity as a service offers faster provisioning and best security for businesses and their clients; it enables continuous monitoring and prevention from loss of business data, along with vulnerability scanning.
With the emergence of outsourcing security services and solutions, enterprises can focus on their core business which is one of the factors for the increasing adoption of security as a service by large enterprises.Symantec Corporation, a provider for cyber-security solutions, unveiled a cloud-based network security solution enhanced with web isolation.
The security solution offers complete endpoint protection which protects the devices of a companies employees anywhere at anytime.
The web isolation feature allows web browsing without any risk of malware.
Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/6709Key playersThe prominent players in the security as a service market are Symantec Corporation (US), Intel Corporation (US), Trend Micro Incorporated (Japan), Cisco Systems Inc. (US), Fortinet Inc. (US), Panda Security (Spain), CipherCloud (US), Zscaler Inc. (US), Alert Logic Inc. (US), and Radware Ltd (Israel).International Business Machines Corporation (US), Verizon (US), and SecureWorks (US) are among the other players in this market.
Regional AnalysisThe regional analysis of security as a service market is considered for North America, Europe, Asia-Pacific, and the rest of the world.Technological advancements and increasing adoption of cloud-based services in North American countries such as the US, Canada, and Mexico is expected to dominate the security as a service market over the forecast period.
