Security as a Service Market Grows at a CAGR of 13.8% | Key P …

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(MENAFN – GetNews)

“Trend Micro (Japan), IBM (US), Microsoft (US), Zscaler (US), McAfee (US), Forcepoint (US), Sophos (UK), Clearswift (UK), Alert Logic (US), Cygilant ( United States), Barracuda Networks (United States), Panda Security (Spain), Cisco (United States), Fortinet (United States), Radware (China), NortonLifeLock (United States), Mindsight (United States ), Sentinel Technologies (United States), Happiest Minds (India), Okta (US), Proofpoint (US), Qualys (US), Kaspersky Lab (US) »Security as a service market by component (solution and service), Application (Network Security, Endpoint Security, Application Security and Cloud), Organization Size (SMB, Large Enterprise), Vertical and Region – Global Forecast to 2026

The global Security-as-a-Service market size is expected to grow from $ 12.4 billion in 2021 to $ 23.8 billion by 2026, at a compound annual growth rate (CAGR) of 13.8% during of the forecast period. The main driver of growth in the security-as-a-service market is compliance with regulatory and data protection laws, increasing demand for cloud-based security solutions among SMBs, and high costs and risks of management of on-site security solutions.

Application Security Segment Expected To Grow At A Higher CAGR During The Forecast Period

Application security solutions and services enable enterprises to secure their sensitive applications with increased visibility, control and use of existing security solutions, such as Identity and Access Management (IAM), web filtering and the whitelist of applications. These enable the security of enterprise applications and software code against external and internal threats, including web attacks, distributed denial of service (DDoS), site scraping, and fraud.

Business-sensitive applications are one of the primary targets of attackers, as they carry information about critical assets, as well as the processes followed by a business. Cloud-based application security solutions and services provide customers with cost-effective and scalable functionality, driving strong growth in this market.

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BFSI vertical is expected to maintain the leading position in terms of revenue generation over the forecast period

Increasing cases of spyware / keyloggers, Trojans, viruses, ransomware and other malware in the banking, financial services and insurance (BFSI) industry are leading to the adoption of security-as-a-service solutions. The BFSI vertical is also a major target for cybercriminals as it holds sensitive information about employees, customers, assets, offices, branches and operations. Additionally, with tighter regulations and increasing cases of fraud and cyber attacks, the need for real-time detection and protection against advanced threats and brand protection is driving the growth of the security as a service market in the BFSI vertical sector.

Additionally, the increasing adoption of cloud-based services among small and medium-sized enterprises (SMBs) and the rapid growth of Bring Your Own Device (BYOD) and Carry Your Own Device (CYOD) trends are expected to provide tremendous growth opportunity for the security as a service market over the next five years. The global security as a service market is dominated by a few globally established players such as Trend Micro (Japan), IBM (US), Microsoft (US), Zscaler (US) and McAfee (US) United). These players have adopted various growth strategies such as partnerships, agreements, collaborations and new product launches to increase their presence in the global market.

Trend Micro specializes in threat intelligence, mobile security, content security, data security, server security, and virtualization security. In the security as a service market, Trend Micro provides deep security for the cloud and data centers, service and server protection. The company offers distinguished offerings as part of a portfolio of security services that includes hosted email security, worry-free services, deep security as a service, web security as a service interscan, and security. cloud applications. These cloud-hosted security services help businesses stay compliant and reduce risk. The company has a large customer base spread across different regions, such as North America, Europe, APAC, MEA and Latin America. The company’s customer base is over 500,000 customers. Trend Micro provides cybersecurity solutions in three main areas of hybrid cloud security, network security, and user protection. It also provides solutions for ransomware, compliance, cloud, healthcare, GDPR, and end-of-support systems. The company has more than 6,700 employees in 65 countries.

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IBM is a computer, technology and informatics consulting firm and is the world’s largest technology company and the second most valuable company. As a creator, developer and manufacturer of some of the latest technologies in the world, IBM’s product portfolio ranges from computer systems and software to networking systems, storage devices and microelectronics. It also offers services, such as infrastructure, hosting and consulting services in areas ranging from mainframe computers to nanotechnology. IBM’s main business segments include global technology services, cloud and cognitive software, global business services, systems, global finance and others. The company offers various cybersecurity solutions, including IAM, cloud security, application security, network projection, security intelligence and operations, data protection and endpoint security. It also offers cybersecurity services that include data security, intelligence and operations security services, consulting, secure engineering and application security, as well as risk and compliance. security strategy. IBM’s security division provides next-generation security threat intelligence solutions and services to the security as a service marketplace. Its security platform adapts to many industry use scenarios including supply chain, financial services, automotive, real estate, food security, identity and commerce. international. The company provides solutions and services to various industries including IT, Healthcare, Life Sciences, Government, Telecommunications, Automotive, Manufacturing, Fast-Moving Consumer Goods (FMCG), chemicals and petroleum, electronics, energy and electricity, media and entertainment, mining, retail, BFSI, travel and transportation, and education. It is present in North America, Europe, APAC, MEA and Latin America.

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