According to analysts at Zion Market Research, the — global cyber security as a service market is estimated to witness a growth of 12.8% CAGR in the forecasted period 2020–2026. The cyber security is an essential part of the security strategies implemented by different organizations mainly owing to the developing cyber-attacks originating from an augmented number of sensors, a rapidly increasing IoT (internet of things) market, cloud integration, and others. Furthermore, businesses at present neither have the time nor the skills to cope with the complications of security and security point products, particularly in a growing IoT market. Therefore, the businesses are extensively outsourcing their cyber security task and hence, the global cyber security as a service market is budding exponentially.
Some of the key companies in the market are Check Point Software Technologies, AWS, Cyberark, Cisco Systems, FireEye, F5 Networks, Fortinet, Forcepoint, IBM Corporation, F-Secure, Juniper Networks, Imperva, Micro Focus, McAfee, Oracle, Microsoft, Proofpoint, Palo Alto Networks, Rapid7, Qualys, Sophos, RSA Security, Symantec, Splunk, and Trend Micro.
Rising Demand For Security Services Will Boost The Global Cyber Security As A Service Market
The rapid development in the cyber security as a service market is being boosted by the technology trends, as well as the number of programs taken by organizations to advance efficiency and productivity, such as BYOD (bring your own device) and IoT. In addition, the rapid implementation of cloud-based applications or widening the security requirements beyond the conventional data center is also spurring market growth. Also, the key driver of the market is a higher demand for logging & auditing security services and booming content industry and the increasing sophistication of cyber-attacks force augmented the implementation of the cyber security measures.
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The global cyber security as a service market is bifurcated on the basis of size of the organization, security type, end-user industry, and regional analysis. Based on the size of the organization, the market is divided into small & medium enterprises and large enterprises. Based on the security type, the market is divided into threat intelligence & business analytics, vulnerability & security assessment, monitoring & altering, and auditing & logging. Based on the end-user industry, the market is divided into IT & telecom, BFSI, retail, government, healthcare, and other end-user industries.
The North America Region To Witness Highest Share In The Global Cyber Security As A Service Market
Based on the geographical analysis, global cyber security as a service market is divided into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. The North America region ruled the market during 2018 and contributed for 38.3% market share of the overall revenue. The development is due to the presence of leading players providing advanced solutions & services to all the segments in the region. Moreover, the rising awareness concerning cyber security amongst small and medium organizations is likely to impel the demand for cyber security solutions in the forecasted period.
The global cyber security as a service market is segmented as follows:
Based on the size of the organization:
Small and Medium Enterprises
Based on the security type:
Auditing & Logging
Vulnerability & Security Assessment
Threat Intelligence & Business Analytics
Monitoring & Altering
Based on the end-user industry:
IT & Telecom
Other End-user Industries
Based on the region:
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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