On the basis of component, the solution segment accounted for the highest security as a service market share

WILMINGTON, NEW CASTLE, DE, UNITED STATES, October 28, 2024 /EINPresswire.com/ -- The global 𝐒𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐚𝐬 𝐚 𝐒𝐞𝐫𝐯𝐢𝐜𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 size was valued at $13 billion in 2022, and is projected to reach $75 billion by 2032, growing at a CAGR of 19.4% from 2023 to 2032. The increase in cyber risks has increased demand for security services, boosting security as a service market. Furthermore, the security as a service market is expected to witness notable growth owing to the need for advanced security solutions and rising adoption of cloud-based services. Moreover, the rise in demand for advanced threat intelligence and analytics solutions is expected to provide a lucrative opportunity for the growth of the market during the forecast period.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 - 315 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/3886

Security as a Service (SECaaS) is a business model in which a service provider integrates their security services into a corporate infrastructure on a subscription basis at a lower cost than most individuals or corporations can provide on their own when the total cost of ownership is considered. It enables businesses to outsource cybersecurity management to an external supplier. Outsourced security solutions include services such as data loss prevention, antivirus administration, and intrusion detection.

By component, the solution segment held the highest market share in 2022, accounting for more than two-thirds of the global security as a service market revenue, and is estimated to maintain its leadership status throughout the forecast period, owing to an increase in cyber threats, the need for robust digital security, and the shift towards cloud-based services. However, the service segment is projected to manifest the highest CAGR of 21.3% from 2023 to 2032. This is attributed to the individuals, SMEs, and large companies, that are concerned about securing access to their network, endpoint, cloud, and applications.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/security-as-a-service-market/purchase-options

Furthermore, SECaaS has become critical for modern IT security. Potential vulnerabilities increase as firms grow digitally. This necessitates adaptive security solutions, which SECaaS provides. It offers security as a dynamic service that changes in response to an organization's demands and the ever-changing security landscape.

By organization size, the large enterprises segment held the highest market share in 2022, accounting for around two-thirds of the global security as a service market revenue, and is estimated to maintain its leadership status throughout the forecast period. The security as a service market is experiencing rapid expansion, particularly among large enterprises, owing to the constantly evolving and complex nature of cyber threats, which made traditional security approaches ineffective. As a result, businesses are turning to innovative and customizable security solutions. However, the small and medium-sized enterprises segment is projected to manifest the highest CAGR of 21.3% from 2023 to 2032, owing to the fact that small and medium-sized organizations have difficulty with managing complicated in-house security systems due to limited resources and skills. As a result, security as a service is growing as an attractive option, offering advanced security without requiring a large initial investment.

Region-wise, North America dominated the market in 2022, owing to the increase in demand for advanced security solutions in the region. Moreover, the rise in cyber threat incidents and the requirement for strong security measures propelled enterprises to adopt SECaaS models, which provide them with scalable and cost-effective security solutions. However, Asia-Pacific is considered to be the fastest-growing region during the forecast period. This is attributed to the diverse and evolving threat landscape in Asia-Pacific that has increased the awareness of organizations regarding the importance of robust security measures, driving the adoption of security as a service models.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

𝐓𝐫𝐞𝐧𝐝 𝐌𝐢𝐜𝐫𝐨 𝐈𝐧𝐜𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞𝐝, 𝐎𝐫𝐚𝐜𝐥𝐞 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, 𝐒𝐨𝐩𝐡𝐨𝐬 𝐋𝐭𝐝., 𝐌𝐢𝐜𝐫𝐨𝐬𝐨𝐟𝐭 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, 𝐂𝐢𝐬𝐜𝐨 𝐒𝐲𝐬𝐭𝐞𝐦𝐬, 𝐈𝐧𝐜., 𝐏𝐫𝐨𝐨𝐟𝐩𝐨𝐢𝐧𝐭, 𝐈𝐧𝐜., 𝐎𝐤𝐭𝐚, 𝐈𝐁𝐌 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, 𝐐𝐮𝐚𝐥𝐲𝐬, 𝐈𝐧𝐜., 𝐅𝐨𝐫𝐜𝐞𝐩𝐨𝐢𝐧𝐭

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/3886

The increase in cyber risks has increased demand for security services, boosting security as a service market. The risk of cyber-attacks has increased significantly as more organizations and individuals connect online. This escalating threat landscape has led to higher adoption of security as a service solution, where organizations outsource their security needs to specialized providers. Furthermore, with the rise in complexity of cyber threats, there is a surge in demand for advanced security solutions, propelling the expansion of the SECaaS market.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/3886

By industry vertical, the BFSI segment held the highest market share in 2022, accounting for nearly one-fourth of the global security as a service market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the increasing need for advanced security solutions in BFSI sector. However, the healthcare and life sciences segment is projected to manifest the highest CAGR of 24.9% from 2023 to 2032, owing to the rising importance of protecting sensitive medical data and ensuring compliance with stringent privacy regulations.

The report provides a detailed analysis of these key players of the global security as a service market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

Threat Intelligence Market - https://www.alliedmarketresearch.com/threat-intelligence-market

Emotion AI Market - https://www.alliedmarketresearch.com/emotion-ai-market-A231628

Marketing Technology (MarTech) Market - https://www.alliedmarketresearch.com/marketing-technology-market-A192904

David Correa
Allied Market Research
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