““Rise in demand for cloud-based security”
The SECaaS market size is expected to grow from USD 3.12 billion in 2017 to USD 8.52 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 22.2%. Major factors contributing to the growth of SECaaS market are- rise in demand for cloud-based security and high on-premises security cost for organization.
“Endpoint protection solution to gain maximum traction during the forecast period”
The endpoint protection solution is estimated to contribute the largest market share duing the forecast period. Furthermore, due to rise in malware, ransomware, and cyber-attacks, the demand for endpoint protection is expected to increase in the next five years. The training and education services segment is expected to contribute the largest market share in the SECaaS market during the forecast period.
“North America to be the largest market for SECaaS during the forecast period”
The North America region holds the largest share of the SECaaS market. The major driver for this region is the mounting level of cloud-based applications adopted by both SMEs and large enterprises. The U.S. has the largest market share in the region followed by Canada. The European market is the second biggest market after North America. The region consists of major growing economies such as the U.K., Germany, and France, which present great growth opportunities for the SECaaS market.
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key people. Break-up of profile of primary participants is as follows:
• By Company Type: Tier 1 – 55 %, Tier 2 – 20% and Tier 3 – 25%
• By Designation: C level – 60%, Director level – 25%, Others – 15%
• By Region: North America – 10%, Europe – 20%, APAC – 40%, RoW – 30%
BYOD policy is gaining popularity in SMBs and large enterprises and is changing the way user’s access the organizational data. As the technology related to BYOD is improving, organizations are mobilizing their workforce. Cloud-based security and opportunities in mobile technology together will allow organizations to innovate in new ways. BYOD trend is pushing organizations to adopt cloud-based security. The enterprises will hold the maximum market share in the SECaaS market.
The various key SECaaS vendors profiled in the report are as follows:
1. Symantec Corporation
2. Cisco Systems, Inc.
4. Trend Micro
5. Fortinet, Inc.
6. Panda Security
8. ZScaler, Inc.
9. Alert Logic, Inc.
10. Radware Ltd.
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the SECaaS market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the sub-segments across different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help the stakeholders to better understand the competitors and gain more insights to better their positions in the business. The competitive landscape section includes competitor ecosystem, new product develpoments, partnerships, and mergers and acquisitions.