Global Market Study on Security-as-a-Service: IT & Telecom and BFSI Industry Segments Major Adopters of Security-as-a-Service Solutions


Security As A Service Market
  • Published On : Dec-2016 |
  • Pages : 197 Pages |
  • Format :

Persistence Market Research presents an all-encompassing study of the global Security as a Service Market titled ‘Global Market Study on Security-as-a-Service: IT & Telecom and BFSI Industry Segments Major Adopters of Security-as-a-Service Solutions ’. This study demonstrates the market dynamics and trends globally across seven regions of North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and MEA which influence the current nature and future status of the Security as a Service market over the forecast period. In this report, Persistence Market Research gives an overall view of the global Security as a Service market and also throws light on the market sentiment and overall segments of this market. The period of assessment of this report is for 10 years and this report enlightens clients on the crucial aspects of the global Security as a Service market in the coming decade. An in-depth study of a market was done by the highly qualified team of analysts of Persistence Market Research and information were collated on the drivers and trends that will influence the market in the coming decade. The report gives a detailed description of the effect these drivers and restraints will have on the global Security as a Service market and this gives a crystal clear picture to the client regarding how the market will shape up in the future.

Report description

This research report provides a detailed analysis of the global Security as a Service market and offers insights on the various factors driving the popularity of these security solutions. The report includes an extensive analysis of key industry drivers, restraints, market trends and market structure. The market study provides a comprehensive assessment of stakeholder strategies and imperatives for succeeding in the business. The report segregates the market based on enterprise and industries using Security as a Service across different regions globally.

The report starts with an overview of the Security as a Service market in terms of value. In addition, this section includes analysis of key trends, drivers, and restraints from the supply, demand and economy side, which are influencing the Security as a Service market. Impact analysis of key growth drivers and restraints, based on the weighted average model is included in this report to facilitate clients with crystal clear decision-making insights.

The Security as a Service market is classified on the basis of enterprise type and vertical. On the basis of enterprise type the market is segmented into a small enterprise, medium enterprise, and large enterprise. On the basis of vertical, market is segmented in BFSI, IT & Telecom, Healthcare, Retail and Consumer goods and others.

Key segments

  • By Enterprise Type
    • Small Enterprise
    • Medium Enterprise
    • Large Enterprise
  • By Industry
    • BFSI
    • IT & Telecom
    • Healthcare
    • Retail & Consumer Goods
    • Others 

A detailed analysis has been provided for every segment in terms of market size analysis for Security as a Service across the different regions. The section provides a detailed analysis covering key trends, absolute dollar opportunity and BPS Analysis.

The next section highlights detailed analysis on of Security as a Service across various countries in the region. It provides a market outlook for 2016–2026 and sets the forecast within the context of Security as a Service market, including latest technological developments as well as offerings in the market. This study discusses key trends within countries contributing to the growth of the market, as well as analyzes which drivers are influencing this market in each region.

This report evaluates the present scenario and the growth prospects of the global Security as a Service market across various regions globally for the period 2016 –2026. We have considered 2015 as the base year and provide data for the trailing 12 months.

In the final section of the report, Persistence Market Research has included a competitive landscape to provide clients with a dashboard view, based on categories of a provider in the value chain, presence in Security as a Service portfolio and key differentiators. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment in the global Security as a Service value chain and the potential players for the same. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on an in-depth assessment of capabilities and success in the marketplace. Detailed profiles of providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the Security as a Service market space.

Key competitors covered are Gemalto NV, Intel Security Cisco Systems Inc., Oracle Corporation, Proofpoint Inc., Trend Micro Inc., Alert Logic Inc., Zscaler Inc., Qualys Inc., Okta Inc. 

Research methodology

In order to offer an accurate forecast, we started by sizing the current market, which forms the basis of how the global Security as a Service market will grow in the future. Given the characteristics of the market, we have triangulated the outcome of different types of analyses based on the technology trends. Top-down approach has been used to assess market numbers for each product category. Bottom-up approach has been used to counter-validate the reached market numbers and end-use wise market numbers. Macro-economic indicators such as GDP, wholesale & retail trade, merchandise trade, and prices have been considered to arrive at indicated market numbers.

Key metrics

In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR but also analyze the market on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities across the global Security as a Service market market.

As previously highlighted, the global Security as a Service market is split into a number of segments. All segments in terms of enterprise type and vertical, and based on different regions are analyzed in terms of a basis point to understand individual segment’s relative contributions to market growth. This detailed level of information is important for identification of various key trends of the global Security as a Service market.

Also, another key feature of this report is the analysis of all key segments in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the global Security as a Service market.

Is increasing adoption of Cloud based services luring cyber attackers for carrying out malicious activities?

As the telecom industry continues to evolve and inclines to a digital business model, leading players are increasingly adopting cloud based services. This offers many distinct advantages such as cheaper services, more computing power and easy availability of storage space. Cashing on the internet on demand model that the cloud offers, telecom companies offer more affordable, agile and enhanced services. However, relying increasingly on the cloud is a double edged sword, as the threats that cloud computing is facing from hackers and cyber attackers is immense. There are high chances that telecom companies possess personal information of individuals like names, addresses, and credit card numbers, and if this information is hacked, then there are high chances of this sensitive information being misused, resulting in identity theft and financial losses. It is in this context that the global Security as a Service market is thriving and providing the much needed security to cloud computing infrastructure, so that personal data and sensitive information of organizations doesn’t get hacked and misused.

High adoption of business services over cloud services likely to fuel the global Security as a Service market

The global Security as a Service market is expected to witness significant growth during the assessment period. This growth is expected to be primarily driven by the high adoption of business services over cloud services. To secure cloud based business applications and for reducing expenses without increasing competitive pricing of products, companies are adopting the Security as a Service model that does not require maintenance of hardware or software.

Revenue generated by the global Security as a Service market is estimated to reach nearly US$ 3,400 Mn by 2016, witnessing an increase from approximately 3,000 Mn in 2015. Large enterprise sub segment is estimated to hold the largest share among the enterprise segment due to rapid implementation of security as a service solutions for securing business applications over the cloud, accounting for nearly US$ 2,000 Mn by 2016, up from more than US$ 1600 Mn in 2015.

IT & Telecom industry to lead the market

Among all the industry verticals, IT & Telecom industry is estimated to account for a maximum market revenue share by 2026. The market for security as a service is growing in IT & Telecom industry due to rising usage of internet and regular update of IT security regulations. These factors are compelling enterprises to adopt network security and other security solutions. Moreover, Healthcare and BFSI industry is also adopting this technology at a significant rate.

security as a service market

Market numbers for IT & Telecom industry pertaining to global Security as a Service market

  • Persistence Market Research forecasts that revenue from the IT & Telecom segment in the global security as a service market is expected to increase from nearly US$ 1,250 Mn in 2016 to nearly US$ 4,900 Mn by 2026, representing a CAGR of 14.6% from 2016 to 2026.
  • The IT & Telecom industry is adopting security as a service solutions due to increasing usage of digital technologies and internet facilities among individuals. Moreover, rising security threats and frequently changing cloud IT security regulations has led enterprises in this sector to adopt the security as a services model to improve network security and comply with changing security regulations.
  • The IT & Telecom segment is expected to create incremental opportunity of nearly US$ 3,650 Mn between 2016 and 2026.
  • In the North America market, in terms of revenue, IT & Telecom segment is expected to reach a value of nearly US$ 450 Mn of the global market, and account for nearly 36% revenue share by 2016 end, and be valued at approximately US$ 2,200 Mn in 2026, or account for 27% in terms of revenue share at a CAGR of 17.3%.
  • In the APEJ market, in terms of revenue, IT & Telecom segment is expected to reach a value of nearly US$ 155 Mn of the global market, and be valued at more than US$ 555 Mn in 2026.

Rapid adoption of security as a service among industries

In Poland, the economy is growing significantly due to which investment in IT services has increased. Security companies in Poland are using local data centers to store information so they can comply with the local data privacy regulations. Moreover, industries in the BFSI, IT and telecom and manufacturing sector are aggressively adopting cloud-based technologies to improve business process flexibility, increase collaboration, and reduce capital expenditure and automation of software. High adoption has increased the risk of data theft, malware attacks and unauthorized access over the cloud. Hence, companies have started adopting security as a service solutions for securing their documents over the cloud.

Company Profiles

  • Gemalto NV
  • Intel Security
  • Cisco Systems Inc.
  • Oracle Corporation
  • Proofpoint Inc.
  • Trend Micro Inc.
  • Alert Logic, Inc.
  • Zscaler, Inc.
  • Qualys, Inc.
  • Okta, Inc.
  • Others
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