Global SaaS Security Market 2018-2022
About SaaS Security
SaaS security is one of the types of IT security deployments that make use of cloud computing technology. The SaaS security services involve a range of applications that are provided by the service provider to the customer organizations through the cloud network.
Technavio’s analysts forecast the global SaaS security market to grow at a CAGR of 22.19% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global SaaS security market for 2018-2022. To calculate the market size, the report considers the revenue generated from the services provided by SaaS security software vendors.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global SaaS Security Market 2018-2022
Technavio recognizes the following companies as the key players in the global SaaS security market: Cisco Systems, McAfee, and Symantec.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the declining cost of wearable technology. SaaS security vendors are focusing on enhancing SaaS security portfolio by integrating AI technology. With the integration of artificial intelligence (AI), adaptive access capabilities and risk monitoring capabilities will increase and help SaaS application with automated threat detection. Whenever a user accesses SaaS application, the risk behavior will be compared by AI with the baseline. Therefore, AI will aid the vendors in enhancing the SaaS security to increase the adoption of SaaS security among the vendors.”
According to the report, one of the major drivers for this market is increasing use of SaaS application among enterprises. On-premise applications are replaced due to the rapid growth of SaaS applications. SaaS application offers cost optimization benefits along with high automation and scalability, and reduces infrastructural and maintenance cost. With the adoption of SaaS applications, the enterprises can secure operations and confidential data from other companies. The enterprises are investing heavily in SaaS solutions to solicit rapid ROI. These applications help free organizational resources, owing to which, the enterprises are focusing more on their core services.
Further, the report states that one of the major factors hindering the growth of this market is Integration with existing IT infrastructure. One of the main barriers to adoption of SaaS security among large enterprises is the integration challenges of SaaS-enabled applications with the existing IT infrastructure. These enterprises prefer a hybrid approach to IT, as they want the vendors to give a seamless connection between cloud and on premises applications. However, the mismatch in development language among different applications and the fact that not all protocols and standards are met by the vendors lead to confusion for the internal IT team, as the applications do not integrate well with each other. These challenges also increase the chances of compromise in application security. These factors hinder the growth of the market.
Cisco Systems, McAfee, and Symantec.