Global SaaS-based IT Security Market 2016-2020
About SaaS-based IT Security
SaaS-based IT security is a type of IT security deployment that makes use of cloud computing technology. SaaS-based IT security services, also known as security as a service (SECaaS), is a security management model wherein cloud service providers offer security services along with IT infrastructure on a subscription basis. The ultimate objective of SECaaS is to protect information systems from cyber threats while preserving the availability, integrity, and confidentiality of the information and achieve business objective. SaaS-based security services enable organization to improve their IT security companies concentrate on core business objectives by outsourcing security services to MSSPs as they have expertise in security.
Technavio’s analysts forecast the global SaaS-based IT security market to grow at a CAGR of 22.38% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global SaaS-based IT security market 2016-2020. 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-based IT Security Market 2016-2020
Technavio recognizes the following companies as the key players in the global SaaS-based IT security market: Cisco, IBM, Intel Security (McAfee), and Symantec.
Other Prominent Vendors in the market are: Alert Logic, Barracuda Networks, CA Technologies, CipherCloud, CloudPassage, Credant Technologies, CYREN, Forcepoint, Fortinet, LogRhythm, Panda Security, Phantom Technologies, Proofpoint, Radware, SafeNet, SecureAuth, Sophos, Symplified, Trend Micro, Trustwave, WatchGuard Technologies, and Zscaler.
Commenting on the report, an analyst from Technavio’s team said: “One trend fostering market growth is the increasing demand for integrated security suites. End-users prefer integrated and converged security suites to prevent integration issues, and derive benefits from several other features associated with these suites. In addition, the increased complexity of the network infrastructure has made integration an important buying criterion; therefore, solutions with better integration ability are finding higher adoption among end-users.”
According to the report, one driver facilitating growth is the growing adoption of cloud computing by organizations. Organizations worldwide adopt cloud computing technologies to reduce costs associated with managing enterprise IT infrastructure. Also, with the adoption of cloud computing services, end-users can concentrate more on organizational core activities rather than on managing applications. Further, enterprises can establish a rapid deployment model, which enables applications to be scaled quickly to match increasing usage requirements.
Further, the report states that increasing data security concerns will pose a significant challenge for this market. Data security concerns remain an issue for organizations as business data are critical. Though cloud service providers implement the best security standards and industry certifications, storing data and important files on external service providers always opens up risks.
Cisco, IBM, Intel Security (McAfee), Symantec, Alert Logic, Barracuda Networks, CA Technologies, CipherCloud, CloudPassage, Credant Technologies, CYREN, Forcepoint, Fortinet, LogRhythm, Panda Security, Phantom Technologies, Proofpoint, Radware, SafeNet, SecureAuth, Sophos, Symplified, Trend Micro, Trustwave, WatchGuard Technologies, Zscaler.