Cyber security as a Service Market - Network Security Services and Solutions to Witness Maximum Demand

In the current times when digitalization of operations and internal networks has become the prime agenda of enterprises across all industries globally, cyber security has become an important part in every industry due to complex network environments, advanced technology adoption, and growing IT infrastructure. It has been observed in the past few years that the number of cyber-attacks has substantially increased, which, in turn, is compelling enterprises to be equipped with effective cyber security solutions and services to ensure security of digital resources and a smooth workflow.

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Cyber security as a service is a combination of practices and processes employed to protect systems, networks and data from breaches, attacks and unauthorized access. Cyber security as a service for organizations is an operating expense (Opex) rather than capital expense (Capx) and it manages network security, confidential data protection and enables organizations to respond to incidents taking place immediately. The market has expanded at a promising pace in the past few years and continues to witness massive push as even small- and medium-sized enterprises are demanding cost-effective and reliable cyber security solutions. With millions of small- and medium-sized companies already existing globally and more coming up rapidly, the demand for effective cyber security modules such as cyber security as a service is also expected to rise at an unprecedented pace in the near future

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Cyber security as a service market is segmented on the basis of service type, security type, platform, enterprise size and end-use industry. Based on service type, the market is categorized into threat intelligence and behavior analysis service, auditing and logging service, and monitoring and altering service. Of these, the segment of auditing and logging services is anticipated to witness growth at the most promising pace over the report’s forecast period.

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Based on security type, the global cyber security as a service market is segmented into enterprise, endpoint, cloud, network, and application security. Among these, the segment of network security is anticipated to observe decent growth in terms of revenue during the forecast period. This is primarily due to rising demand for the network security across the industries to maintain the flow of operations over the network and use of network security solutions by small and medium enterprises.

Geographically, the market in North America presently accounts for the leading share in the revenue of the global market and is also likely to hold the dominant position over the report’s forecast period. The high level of digitization and the rising number of connected devices in counties such as the U.S. and Canada are expected to remain the key factors working in favor of the cyber security as a service market in North America over the forecast period.

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