Dublin, July 28, 2020 (GLOBE NEWSWIRE) — The “Security as a Service Market Research Report: By Security Type, Deployment Model, Enterprise, Application, Vertical – Global Industry Share, Drivers, Demand and Trends Analysis Forecast Report to 2030” report has been added to ResearchAndMarkets.com’s offering.
An increasing number of companies and individuals are turning to cloud computing, as it helps them save substantially on expenditure. Cloud requires no physical infrastructure, and companies also do not have to hire too many IT professionals. Further, people can access the structured and unstructured data stored on the cloud from anywhere. However, cloud often falls victim to cyber-attacks, which is pushing the demand for security solutions.
As a result, the global security as a service market share would grow to $43.4 billion by 2030, at a CAGR of 17.4% during the forecast period (2020-2030), from $7.8 billion in 2019. According to the Cost of a Data Breach Report 2019, jointly published by the Ponemon Institute and IBM Corporation, companies withstood average losses of $3.92 million in 2019, as a result of data breaches. Therefore, with businesses increasingly migrating to the cloud and number of cyber-attacks rising, the demand for security solutions is mushrooming.
Database Security to Witness Fastest Advance during Forecast Period
During the forecast period, the adoption of database security solutions would grow the fastest in the security as a service market, at a CAGR of 18.4%, as firms are rapidly transferring their data to the cloud, to make the most of cost-effectiveness, performance, and operational flexibility advantages. But, due to cloud often becoming an easy target of data breaches, the adoption of security solutions to protect the database is rising.
In 2030, hybrid cloud would be the most popular deployment method in the security as a service market, as it offers users personalization ability and the flexibility of data access, control, ownership, updation, maintenance, and storage.
In the coming years, small and medium enterprises (SME) are projected to experience higher CAGR, as they are rapidly adopting software as a service (SaaS) solutions to reduce their IT spending, which creates the need to implement robust security measures.
During the historical period (2014-2019), the highest revenue was generated in the security as a service market by the identity & access management category. Companies are swiftly incorporating SaaS security solutions for defining and managing the role of various employees and granting individuals the access to sensitive data, based on the designation they hold.
The healthcare category is predicted to advance at the highest CAGR during the forecast period, as hospitals and other healthcare sectors deal with huge volumes of sensitive patient data, related to billing, medical history, drug prescriptions, diagnostic results, insurance policies, and treatment schedules. Thus, to protect such data, stored on the cloud, medical firms are heavily using security solutions.
Till 2030, North America would continue being the largest security as a service market, as the infrastructure here is advanced, an increasing number of cyber-attacks are being carried out on the cloud, adoption of cloud services is surging, and stringent data security laws have been implemented in Canada and the U.S.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Security Type
1.3.2 Market Segmentation by Deployment Model
1.3.3 Market Segmentation by Enterprise
1.3.4 Market Segmentation by Application
1.3.5 Market Segmentation by Vertical
1.3.6 Market Segmentation by Region
1.3.7 Analysis Period
1.3.8 Market Data Reporting Unit
1.5 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.2 Value Chain Analysis
4.3 Market Dynamics
4.4 Porter’s Five Forces Analysis
Chapter 5. Global Market Size and Forecast
5.1 By Security Type
5.2 By Deployment Model
5.3 By Enterprise
5.4 By Application
5.5 By Vertical
5.6 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. LATAM Market Size and Forecast
Chapter 10. MEA Market Size and Forecast
Chapter 11. Competitive Landscape
11.1 List of Players and Their Offerings
11.2 Market Share Analysis of Key Players
11.3 Competitive Benchmarking of Key Players
11.4 Strategic Developments of Key Players
11.4.1 Mergers and Acquisitions
11.4.3 Product Launches
11.4.4 Facility Expansion
Chapter 12. Company Profiles
12.1 Cisco Systems Inc.
12.2 Microsoft Corporation
12.3 International Business Machines (IBM) Corporation
12.4 Broadcom Inc.
12.5 McAfee LLC
12.6 Trend Micro Incorporated
12.7 DXC Technology Company
12.8 Qualys Inc.
12.9 Sophos Group plc
12.10 Citrix Systems Inc.
12.11 Avast Software s.r.o.
12.12 Ivanti Inc.
Chapter 13. Appendix
13.2 Sources and References
13.3 Related Reports
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