Security as a Service Market Size, Latest Trends, Growth Rate, Key Drivers And Forecast To 2033

The new report published by The Business Research Company, titled ""Security as a Service Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the security as a service market size has grown rapidly in recent years. It will grow from $14.45 billion in 2023 to $15.94 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The security as a service market size is expected to see rapid growth in the next few years. It will grow to $26 billion in 2028 at a compound annual growth rate (CAGR) of 13.0%.

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Rising Adoption Of Cloud-Based Services Drives Security As A Service Market
The increase in adoption of cloud-based services has driven the security as a service market. Cloud-based services are services offered over the Internet or a dedicated network with delivery on demand. Due to the COVID-19 pandemic and lockdowns, small and medium-scale Enterprises are increasingly focusing on streamlining their business models by adopting cloud services, which are highly prone to cyber-attackers. Thus, companies are increasingly investing in cloud-based security services to tackle cyber-attacks and protect sensitive and confidential information. According to the report of Ziff Davis, a New York-based digital media and internet company, approximately 40% of the global workforce adopted cloud-based services in 2020 and is expected to reach 80% by 2025, exceeding 100 Zettabytes of data in cloud data centers. Furthermore, according to the Findstack report, 92% of an organization's IT environment is likely to be in the cloud by 2022. Hence, the rising adoption of cloud-based services is expected to boost security as a service market during the forecast period.

Cloud Security Offerings To Enhance Security For Customers
Major companies operating in the security as a service market are launching cloud security offerings to enhance security for customers. These are designed to provide a comprehensive range of solutions to secure workloads on AWS, an on-demand cloud computing platform, and on-premises, addressing various aspects of cybersecurity. For instance, in November 2022, HCLTech, an India-based technology company, launched its suit of Cloud Security as a Service on AWS, expanding its Cloud Security-as-a-Service (CSaaS) solutions for enterprises. These cybersecurity services enhance security and resilience for AWS customers, leveraging industry best practices and certifications for threat detection, network protection, data security, identity and access management, compliance, and application security.

The security as a service market covered in this report is segmented -

1) By Component: Solution, Service
2) By Application: Network Security, Endpoint Security, Application Security, Cloud Security, Other Applications
3) By Organization Size: SMEs, Large Enterprises
4) By End User: BFSI, Telecom & IT, Healthcare, Retail, Manufacturing, Governmentent, Other End Users

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Major companies operating in the security as a service market report are Trend Micro Incorporated, IBM Corporation, Microsoft Corporation, Zscaler Inc., Cisco Systems Inc.,Palo Alto Networks Inc., Broadcom Inc.,Fortinet Inc.,Symantec,Check Point Software Technologies Ltd.,Texas Pacific Group,Proofpoint Inc.,CrowdStrike Holdings Inc.,Akamai Technologies Inc.,Barracuda Networks Inc.,SonicWall Inc., Mandiant,Qualys Inc.,Rapid7 Inc,Bitdefender software,Sophos Group plc, Carbonite Inc., BlackBerry Ltd,CipherCloud India Pvt Ltd.,F5 Networks Inc.,Cybereason Inc.,Darktrace,Trustwave,Exabeam, AT&T Cybersecurity

Contents of the report:
1. Executive Summary
2. Security as a Service Market Report Structure
3. Security as a Service Market Trends And Strategies
4. Security as a Service Market - Macro Economic Scenario
5. Security as a Service Market Size And Growth
…..
27. Security as a Service Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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