Security as a Service Market (SECaaS) Rising at 22% CAGR to 2020 Dominated by Endpoint Protection Solution

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Apr 14, 2016, 10:00 ET

PUNE, India, April 15, 2016 /PRNewswire/ --

Major factors contributing to growth of security as a service (SECaaS) market include rise in demand for cloud-based security and high on-premises security cost for organization. The endpoint protection solution is estimated to contribute the largest market share doing the forecast period.

Complete report on global security as a service (SECaaS) market spread across 151 pages, profiling 10 companies and supported with 72 tables and 53 figures is now available at http://www.rnrmarketresearch.com/security-as-a-service-market-by-solution-email-encryption-siem-iam-endpoint-protection-ids-ips-data-loss-prevention-and-others-by-service-by-application-by-organization-size-by-vertical-by-region-globa-st-to-2020-market-report.html .

The worldwide security as a service (SECaaS) market size is expected to rise at a Compound Annual Growth Rate (CAGR) of 22.2% and projected to reach from USD 3.12 billion in 2015 to USD 8.52 billion by 2020. Furthermore, due to rise in malware, ransom ware, 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 security as a service (SECaaS) market during the forecast period.

The North America region holds the largest share of the security as a service (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 security as a service (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. In Tier 1 (55%), Tier 2 (20%) and Tier 3 (25%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level (60%), Director Level (25%) and others (15%) from various key organizations operating in the global security as a service (SECaaS) market. The primary interviews were conducted worldwide covering regions such as North America (10%), Europe (20%), APAC (40%) and RoW (30%).

The various key security as a service (SECaaS) market vendors profiled in the report such as Symantec Corporation, Cisco Systems, Inc., McAfee, Trend Micro, Fortinet, Inc., Panda Security, CipherCloud, ZScaler, Inc., Alert Logic, Inc., Radware Ltd. Order a copy of Security as a Service Market by Solution (Email Encryption, SIEM, IAM, Endpoint Protection, IDS/IPS, Data Loss Prevention and Others), by Service, by Application, by Organization Size, by Vertical, by Region - Global Forecast to 2020 research report at http://www.rnrmarketresearch.com/contacts/purchase?rname=484565 .

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 security as a service (SECaaS) market.

On a related note, another research on Managed Security Services Market Global Forecast to 2020 says, rise in cybercrimes and threats, rising need of meeting compliance, and data protection laws are contributing toward the growth of the managed security services market. North America is expected to have the largest market share. The overall market is to grow from USD 17.79 billion in 2015 to USD 35.53 billion by 2020, at a CAGR of 14.8%. The study validates the market size of segments and sub-segments through secondary research and in-depth primary interviews. Companies like AT&T Inc., Dell Secure Works Inc., IBM Corporation, Symantec Corporation, Verizon Communications Inc., Computer Sciences Corporations, CenturyLink, Inc., Hewlett-Packard Company, Solutionary, Inc. and Trust wave Holdings Inc. have been profiled in this 140 pages research report available at http://www.rnrmarketresearch.com/managed-security-services-market-by-service-type-organization-size-small-and-medium-enterprises-large-enterprises-deployment-cloud-deployment-and-in-premises-deployment-vertical-and-region-global-forecast-to-2020-market-report.html .

Explore more reports on the Information Technology & Telecommunication market at http://www.rnrmarketresearch.com/reports/information-technology-telecommunication.

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