SaaS-based IT Security Market: Know the Trends and Future Scenario of this Industry 2023

SaaS-based IT Security is also known as security as a service (SECaaS) is a type of IT security deployment that makes use of cloud computing technology. It is a security management model, which offers security services along with IT infrastructure on a subscription basis. Its main objective is to protect information systems from cyber threats while preserving the integrity, availability, and confidentiality of the information and achieve business objective. SaaS-based IT security services helps organization to improve their IT security of companies by concentrating on core business objectives.

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Growth in adoption of cloud computing by organizations primarily to reduce costs associated with managing enterprise IT infrastructure drives the market. In addition, increase in cloud service-specific attacks and rise in adoption of bring your own devices (BYOD) concept propels the growth of the market. However, issues related to data security and inconsistent network connection limits the growth of the market. Furthermore, increase in demand for SaaS-based IT security services from small business segments and growing popularity of managed security service providers is expected to provide numerous opportunities for the market.

The SaaS-based IT security market is dominated by key players such as Microsoft Corporation, IBM Corporation, Cisco Systems, Inc., McAfee, Inc., Symantec Corporation, Blue Coat Systems, Inc., Citrix Systems, Inc., Barracuda Networks, Inc., F5 Networks, Inc., and Trend Micro.

SaaS-based IT Security Market Key Segments:

By Service
• Identity and Access Management Services
• Web Gateway Services
• Email Gateway Services
• Cloud Encryption Services
• SIEM Services

By Organization Size
• Small and Medium Size Enterprises
• Large enterprises

By Region
• North America
• Europe
• Asia-Pacific
• LAMEA

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