Security as a Service (SaaS) Market: Industry Players to Show High Growth Rate by 2024
Deerfield Beach, FL -- (SBWIRE) -- 10/25/2017 -- The security as a service (SaaS) market is growing rapidly across the globe. One of the major factors responsible for this growth is the rise of new and sophisticated threats affecting important data of the companies. This has stimulated organizations to set out could-based security solutions to protect their networks, endpoints, and cloud against potential cyber-attacks. In order to protect critical assets from potential threats, the companies are shifting from traditional security to advanced security through the SaaS market. The SaaS suppliers are constantly innovating and upgrading their security systems in order to provide efficient security services. It has become pragmatic to adopt the business model of SaaS to integrate security with the business infrastructure of the companies.
The global security as a service (SaaS) market is segmented into its solution, service, application, organization size, end-user, and geography. On the basis of the solution, the market is divided into email encryption, SIEM, endpoint protection, identity and access management (IAM), intrusion detection and prevention systems (IDS/IPS), DLP and others. Based on service, the segregation is seen as consulting and training, and education. On the basis of organization size, the division is seen into the small size and medium-sized enterprises and large enterprises. Based on application, the segmentation of the global security as a service (SaaS) market is seen as web security, network security, database cloud security, email security and others. On the basis of end-user, the segregation is IT and telecom, retail, BFSI, government and defense, oil and gas and healthcare. The security as a service (SaaS) market is diversified into regions such as Europe, North America, Latin America, Asia-Pacific and the Middle East and Africa.
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The rise in the sophistication of threats, increasing BYOD trend among the organization, advancement in technology, increasing awareness about securing important data and declining prices of security products are the factors due to which there is growth in the security as a service (SaaS) market. Recent attacks targeted on the healthcare vertical are the major reason due to which there is an increasing deployment of SaaS in the healthcare vertical. Easy and safe usage of enterprise applications in the cloud is another important reason for the growth of deployment of SaaS in industry verticals.
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North America is anticipated to have the largest market share and will continue to dominate the security as a service (SaaS) market in the coming future owing to the presence of a large number of SaaS suppliers in this region. The U.S. has always been a major contributor to the market as it has been a major adopter of new security technologies. Countries in Asia Pacific are heavily investing to increase the development of data loss prevention, endpoint security solutions, and intrusion detection systems. As a result, the potential for growth in Asia Pacific is increasing for the SaaS market. Growth in North America and Asia Pacific is followed by regions such as Latin America, Europe and the Middle East and Africa.
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Some of the major companies in the security as a service (SaaS) market are ADT, ALL-TAG Security Americas, A2 Systems, Anixter, Advanced Technology Video, Assa Abloy, iDefigo, Gallagher, AxxonSoft, Genetec, DvTel, Intergraph, Hikvision Digital, Ketec, MOBOTIX, Lenel Systems, Nedap, Moonblink, NetVersant, S2 Security, NortekSecuritym, Samsung Techwin, Salient Systems, Security Station, Schneider Electric, Siemens, and Watchdog Security, VideoNEXT, Axis Communications, Cisco Systems, Panasonic, Bosch Security Systems, and Honeywell Security.