Global SaaS Security Market is anticipated to expand at a significant CAGR of 22.19% in the upcoming period as the scope, product types, and its applications are increasing across the globe. SaaS (Software as a service) is an outsourcing model for security management. It comprises applications such as anti-virus software. It is an essential delivery model for many establishments.
The factors that propel the growth of the market include increasing use of SaaS application among enterprises, rise in acceptance of bring your own devices (BYOD) concept, growth in acceptance of cloud computing by establishments, and surge in cloud service-specific attacks. On the other hand, there are factors that may hamper the growth of the market including incorporation with existing IT infrastructure, issues related to data security, and varying network connection limits.
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SaaS security market could be explored by type, organization size, end user and geography. The market could be explored by type as Network Protection, Email Protection, Data Loss Prevention, Identity, and Access Protection and Web Protection. The “Identity and Access Protection” segment led the SaaS security market in 2017 and will continue to lead in the forecast period. The key factors that could be attributed to the growth of the market include increasing use of digital identities and increasing trend of facial recognition. The “Identity and Access Protection” segment is followed by “Email Protection” segment owing to rising cases of spam emails containing malware virus, cyber-attacks, and hacking activities worldwide.
Based on organization size, the market could span Large Enterprises and Medium and Small Size Enterprises. The “Large Enterprises” segment led the market in 2017 and will continue to lead in the forecast period. The key factors that may be attributed to the growth of market includes the increasing adoption rate of cloud technology, and flexibility. Large enterprises segment is followed by “Medium Enterprises” segment.
The market could be explored based on the end user as Healthcare, BFSI, Government, Communication and Technology, Defense and Others. The “BFSI” segment led the market in 2017 and will continue to lead in the forecast period. The key factors that may be attributed to the growth of the market includes the availability of a huge customer data over the cloud and growing digitization.
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North America accounted for the major share of the SaaS security market in 2016 and will continue to lead in the forecast period. The factors that could be attributed to the growth include rising trend for bringing your own device within organizations, increasing acceptance of the internet of things (IoT), increased the need for data security in the region. North America is followed by Asia-Pacific region in the years to come.
Some of the key players that fuel the growth of the SaaS security market comprise IBM Corporation, Microsoft Corporation, Cisco Systems, Inc., F5 Networks, Inc., Symantec Corporation, Trend Micro, McAfee, Inc., Blue Coat Systems, Inc., Barracuda Networks, Inc., and Citrix Systems, Inc. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/telecommunications-and-networks
Market Segment:
The market is divided into the following segments based on geography:
• Americas
• APAC
• EMEA
Global SaaS Security Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
• Cisco Systems
• McAfee
• Symantec
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