Security-as-a-service Market to 2023 - Overview, Industry Analysis and Prominent Corporations Profiled Such as Symantec Corporation, Intel Security (MCAFEE), Trend Micro Incorporated, Cisco Systems, Fortinet, Panda Security, S.L., CipherCloud, Zscaler, Al

The SaaS includes services such as delivery of an anti-virus software over the Internet and malware protection. The SaaS offers number of benefits including constant virus definition updates, greater security, outsourcing of administrative tasks, and web interface for monitoring the environment. The availability of advanced security tools, access to the contextual expertise, and cost-effective security are some of the salient features of the SaaS. However, the unavailability of reliable security tool and availability of access to the sensitive data to the vendors the SaaS becomes a noteworthy security concern. The SaaS is accessible from the Internet, which poses a threat to the system.

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The increase in cybercrime activities, growth of the sensitive organizational data, and the growth in trend of mobile devices drives the SaaS market. Use of cloud technology has increased prominently over the years, which has created the need to have more protected and cost-effective security solutions. The strict government regulations have pushed the market to create a better integrated service complying with government regulations. The reluctance to share the sensitive data, availability of free of cost security service, and the hesitation to the cloud-based security by the organizations limit the adoption of SaaS. Increase in e-businesses, rise in awareness about data security, growth in bring your own device (BYOD) trend, and adoption towards managed security practices create sufficient opportunities in the market. The increasing and dynamic nature of cybercrime poses a challenge to the growth of the SaaS market.

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.

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The market is segmented by component, application, organization size, industry verticals, and region. Based on component, the market is bifurcated into solution and services. The solution segment is further divided into endpoint protection, security information & 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 categorized into network security, web security, email security, database and cloud security, and others. Large and small & medium are segmentation across organization size.

Based on industry verticals, it is divided into banking, financial, and insurance (BFSI), aerospace & defense, healthcare, public sector; IT & telecom, retail, and others. By geography, it is studied across North America, Europe, Asia-Pacific, and LAMEA.

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