The large service providers integrate their services into the organisations on a subscription basis and provide a cost-effective and complete security solution.
PORTLAND, PORTLAND, OR, UNITED STATE, October 18, 2023 /EINPresswire.com/: The increase in cybercrime activities, the growth of sensitive organisational data, and the growth in the trend of mobile devices drive the security-as-a-service market. The use of cloud technology has increased prominently over the years, which has created the need for more protected and cost-effective security solutions. The strict government regulations have pushed the market to create a better integrated service that complies with government regulations.
The reluctance to share sensitive data, the availability of free-of-cost security services, and the hesitation of organisations towards cloud-based security limit the adoption of SaaS. An increase in e-businesses, a rise in awareness about data security, a growth in the bring your own device (BYOD) trend, and adoption of managed security practices create sufficient opportunities in the market. The increasing and dynamic nature of cybercrime poses a challenge.
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The market is disintegrated into international as well as regional players, and it is highly diversified. The large international players try to acquire regional players to increase the workforce and boost their portfolio. For instance, in July 2016, Oracle Corporation acquired NetSuite Inc. The market expects intense competition owing to technological advancements, service extensions, and various services offered by vast vendors.
Key benefits of the report:
➢ This report is an extensive analysis of current and potential market trends in the dynamic global market of SaaS.
➢ The report contains an in-depth quantitative analysis of current and future market estimations, which helps recognise appealing market opportunities.
➢ Extensive analysis of the market helps understand current practices for better investment decisions.
➢ Key market players are profiled, and their strategies are analysed thoroughly, which elucidates the competitive outlook of global talent management tools.
➢ Extensive analysis of the market is conducted by monitoring the top competitors within the market framework.
➢ Comprehensive analysis of factors that drive and restrict the growth of the global market is provided.
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The market is segmented by component, application, organization size, industry verticals, and region. Based on components, the market is bifurcated into solutions and services. The solution segment is further divided into endpoint protection, security information and event management, identity access management, email decryption, data loss prevention, and others. The service is segmented into training, education, and consulting services.
Based on application area, the market is categorised into network security, web security, email security, database and cloud security, and others. Large, small, and medium are segments across organisational size. Based on industry verticals, it is divided into banking, financial, and insurance (BFSI), aerospace & defence, healthcare, the public sector, IT & telecom, retail, and others. By geography, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
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Leading market players:
➢CipherCloud, Inc.
➢ Zscaler, Inc.
➢ Intel Security (MCAFEE)
➢ Trend Micro Incorporated
➢ Symantec Corporation
➢ Fortinet, Inc.
➢ Panda Security
➢ S.L.
➢ Alert Logic, Inc.
➢ Radware Ltd.
➢ Cisco Systems, Inc.
These players have adopted various strategies to increase their market penetration and strengthen their position in the industry. Current and future security-as-a-service market trends are outlined to determine the overall attractiveness of the market.
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