- Cloud computing security is associated with computer security, information security, and network security.
- Security as a service is designed to deploy security services and solutions over the Internet.
- Service includes continuous anti-virus monitoring and updates, ease of management, reduced costs, data loss prevention, identity and access management.
Market Research Future anticipates the growth of the Cloud Computing Security (SECaaS) Market at a CAGR of 21.59% with a market value of $14.25 billion owing to the advent of cloud computing technology. As the need and demand for cloud computing skyrockets, the SECaaS Market is witnessing growth in the demand for cloud computing security.
Cloud computing security is associated with the policies and strategies deployed to protect business data such as computer security, information security, and network security. The market has witnessed migration from traditional security and hardware solutions to advanced security and cloud-based security services. Cloud-based security ensures the security of customer’s data and information at a low-cost. Furthermore, the rise in demand for cloud computing security is expected to be one of the major factors fueling the growth of the SECaaS Market over the forecast period.
Security as a Service
Security as a service is an approach to design a service-oriented business network infrastructure. It is a model designed explicitly for security management to deploy security services and solutions over the Internet. Security as a service is an approach based on software as a service (SaaS), however, it is limited to a set of defined information security services.
The benefits provided by the service includes continuous anti-virus monitoring and updates, ease of management, reduced costs, data loss prevention, identity and access management, and others. Enterprises are readily adopting these services owing to various benefits, which is positively impacting the SECaaS Market which would result in an optimistic growth of the market in the forecast period.
Large enterprises are increasingly adopting cloud-based security services owing to the benefits related to customer data security, flexibility, mobility, and others. However, small- and medium-sized enterprises are skeptical regarding the adoption of cloud-based security, due to the possible downtime depending upon the reliability of the internet connection and, to some extent, the cost incurred in implementing cloud-based security which is expected to hamper the growth of the SECaaS Market over the assessment period.
The SECaaS Market is segmented on the basis of component, application area, organization size, vertical, and region. These segments are further sub-segmented into the following:
By component, the SECaaS Market is segmented into solution and service. By solution, the market is further sub-segmented into endpoint protection, security information and event management (SIEM), identity access management (IAM), intrusion detection and prevention systems (IDS/IPS), email encryption, data loss prevention (DLP), and others. By service the market is further segmented into professional services and managed services.
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By application area, this market is segmented into network security, email security, database cloud security, web security, and others. By organization size, the market is segmented into small and medium-sized enterprise, and large enterprise. By vertical, the market is segmented into BFSI, oil and gas, IT and telecom, retail, healthcare, government and defense, and others. By region, North America, Europe, Asia-Pacific, and the rest of the world are the global segments.
The prominent players in the SECaaS Market are Symantec Corporation (US), Intel Corporation (US), Trend Micro Incorporated (Japan), Cisco Systems Inc. (US), Fortinet Inc. (US), Panda Security (Spain), CipherCloud (US), Zscaler Inc. (US), Alert Logic Inc. (US), and Radware Ltd (Israel), International Business Machines Corporation (US), Verizon (US), and SecureWorks (US) are among the other players in this market.
The regional analysis of SECaaS Market is considered for North America, Europe, Asia-Pacific, and the rest of the world.
The advent of cloud computing security is driving the growth of the SECaaS Market in North America. The region is expected to dominate the market with the largest market share during the forecast period. The US and Canada are leading due to technical advancements and increasing adoption of cloud-based services. Additionally, leading providers of intelligent networks such as Cisco Systems, Symantec Corporation, Fortinet Inc., Verizon, and others in the US are enhancing advanced cloud architecture and providing network security.
Europe is expected to show a high growth rate during the forecast period as the companies in the region are heavily invested in security as a service infrastructure to enhance their enterprise security infrastructure. Asia-Pacific is expected to be the fastest growing region in the market, due to the shift of large enterprise to the cloud. China, Japan, and India are the leading markets in the region, with a vast customer base.