Global SaaS-based IT security market Status and Prospect, Forecast 2018 to 2026

Global SaaS-based IT security market Status and Prospect, Forecast 2018 to 2026

Security-as-a-service (SaaS) is an outsourcing model for security management. SaaS-based IT security is a type of IT security deployment that makes use of cloud computing technology. The main objective of SaaS is to protect information systems from cyber threats while maintaining the availability, integrity, and confidentiality of the information to achieve business objectives. SaaS-based security services are typically accessed by users using a thin client via a web browser.

High growth in automation, and cost optimisation benefit are some of the major factors to fuelling growth of the global SaaS-based IT security market. In addition, SaaS-based IT security solutions also reduce the overall cost of ownership and organizations are increasingly adopting cloud computing to reduce their expenses in handling enterprise IT infrastructure are some other factors to boost growth of the global SaaS-based IT security market during the forecast period. Also, growing implementation of cloud services among enterprises is projected to increase the adoption of SaaS-based IT security applications during the forecast period.

Increasing data security concerns is a major factor hampering growth of the global SaaS-based IT security market. In addition, shortage of skilled workforce is also expected to restrict growth of the global SaaS-based IT security market during the forecast period.

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The global SaaS-based IT security market is segmented on the basis of service, application, and region. On the basis of region, the global SaaS-based IT security market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

North America accounts for largest revenue share in the global SaaS-based IT security market during the forecast period. This growth can be attributed to growing number of cyber-attacks among organizations which has increased the implementation of SaaS-based IT security solutions. Some other factors such as rise in the number of mobile phones and high uses of internet, rise in mobile malware attacks, and enterprise mobility projected to drive growth of SaaS-based IT security market in the region. The market in Asia Pacific is projected to have fastest growth in terms of CAGR over the forecast period.

Prominent players in the global SaaS-based IT security market include Cisco, IBM, Intel Security (McAfee), Symantec, Alert Logic, Barracuda Networks, CA Technologies, CipherCloud, CloudPassage, Credant Technologies, and CYREN.

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