Dublin, Feb. 19, 2019 (GLOBE NEWSWIRE) -- The "Security as a Service Market by Component (Solutions and Services), Application Area (Network Security, Endpoint Security, Application Security, Cloud Security), Organization Size, Vertical, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering

The security as a service market size is estimated to grow from USD 7.6 billion in 2018 to USD 16.5 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 16.9% during the forecast period.

The key growth drivers of the security as a service market are mandates to follow regulatory and data protection laws, increase in demand for cloud-based security solutions, and high cost and risks in managing on-premises security solutions.

Additionally, increase in adoption of cloud-based services among Small and Medium-sized Enterprises (SMEs) and rapid growth in Bring Your Own Device (BYOD) and Carry Your Own Device (CYOD) trends are expected to provide a huge growth opportunity for the security as a service market over the next 5 years.

The biggest challenge for the security as a service market is the rise in IT infrastructure complexities and availability of free security services and security solution suites. The scope of this report covers the security as a service market by component (solutions and services), application area, organization size, vertical, and region.

The Banking, Financial Services, and Insurance (BFSI) vertical is expected to dominate the market with the highest share during the forecast period, whereas the retail vertical is projected to grow at the highest rate.

Moreover, to address the sophisticated threats, the encryption solution is expected to grow at the highest rate during the forecast period. Furthermore, due to the huge adoption of web and mobile applications, the market for application security is projected to gain traction in the next 5 years.

Key Topics Covered:
1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview and Industry Trends

6 Security as a Service Market By Component

7 Security as a Service Market By Solution

8 Security as a Service Market By Service

9 Security as a Service Market By Application Area

10 Security as a Service Market By Organization Size

11 Security as a Service Market By Vertical

12 Security as a Service Market By Region

13 Competitive Landscape

14 Company Profiles

• Alert Logic
• Barracuda Networks
• Clearswift
• Cygilant
• Happiest Minds
• IBM
• Mcafee
• Microsoft
• Mindsight
• Panda Security
• Radware
• Sentinel Technologies
• Stratejm
• Trend Micro
• Zscaler

For more information about this report visit https://www.researchandmarkets.com/research/w454tb/security_as_a?w=12

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Related Topics: IT Security