Persistence Market Research analyzes the Security as a Service Market and trends influencing the market.
New York, NY -- (SBWIRE) -- 12/09/2016 -- Many industries such as healthcare, and retail are moving towards the adoption of cloud based solution rather than on-premises to reduce cost and to improve its cloud computing capabilities. Hence, companies are adopting security as a service model in order to take advantage of multi-tenancy feature, and subscription based services to reduce operational expenses.
Security as a Service is a platform through which many service vendors provide security services integrated into the corporate infrastructure in a cost effective manner. Security as a Service is growing at a faster pace due increasing demand Security as Service in email security, network security, identity and access management, compliance management, internet traffic filtering and others.
The major factor driving Security as a Service market is the need of security solutions that can manage their cloud based as well as on-premise solutions. Security as a Service includes identity access management services that includes authentication and identification services. Security as a Service helps businesses in handling cost advantages along with availability of expertise without increasing budget.
The restraint for Security as a Service market is the weak set of standards for cloud. Standards that are being followed by cloud service providers such as SAS 70 or ISO 27001 are not flawless. Still many companies are claiming usage of bad practices such as administration account sharing between various users, which increases the risk of data theft and loss. There is a need of universal set of regulations that can be followed strictly without any changes.
Security as a Service Market: Segmentation
In this Security as a Service market companies offer Security as a Service platforms and Security as a service solutions.
Segmentation on the basis of solution:
-Mobile app protection
-Data loss protection
-Network security management
In June 2016, Proofpoint, a Security as a Service provider has entered into the partnership with Linkedin,a professional network company to provide social media security and compliance management. This partnership will help in improving enterprise capabilities of both companies.
In September 2016, Microsoft acquired Adallom, a cloud security service provider to improve its solutions and offerings in identity and security management. This will enhance capabilities of Microsoft in on-premises and cloud security solutions.
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Presently, North America region holds the largest market share of global Security as a Service market. The market is growing comprehensively in countries such as US and Canada due to the high adoption of security solutions in order to improve third party services. The major solution vendors in this Security as a Service are from North America, creating high growth opportunity for security solutions market. Companies such as Cisco and TrendMirco are also creating solutions for this market due to the opportunities lying in this market.
The Asia Pacific region is following the North America region in this Security as a Service market is expected to have the highest growth rate in coming years due to the adoption of managed services and the growing usage of hosted and cloud based solutions in countries such as Australia and India.
In Europe region, the market for Security as a Service is witnessing slow growth rate due to the slow adoption rate of technology. Countries such as U.K. is contributing enormously towards the application of these Security as a Service platforms along with secure datacenters.
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