Global IT Security-as-a-Service Market 2016-2020

Overview of the global information technology (IT) security as a service market

Technavio’s market research analysts estimate the global information technology (IT) security as a service market to grow at a CAGR of around 19% by 2020. One of the primary drivers for this market is the voluminous growth of organizational data. The rise in cloud services has increased the use of cloud technologies for data storage and backup functions. However, this has created a number of problems for enterprises in terms of costs and technicalities of cloud storage or backup systems. Hence, the growing need for secure disaster recovery, data backup, and fewer occurrences of data intrusion and losses will augment the adoption of IT security as a service during the forecast period.

At present, a significant trend being witnessed in the IT security as a service market is the rising investment in web and email security. IT security as a service includes security solutions such as security event monitoring and content security. However, the increased preference for network security is expected to result in the surging demand for vulnerability management and policy or compliance-related solutions in the coming years. Compliance-related security offerings such as compliance and policy assessments and security benchmarking will also observe high demand growth during the forecast period.

Segmentation by products and analysis of IT security as a service market

• Email encryption
• Endpoint protection
• Data loss prevention
• Event monitoring
• Information security
• IAM

The email encryption segment dominated the IT security as a service market in 2015 and accounted for approximately 22% of the total market share. The email encryption service includes authentication request and organizational data safety shared over emails. Owing to the mandatory requirement of email encryption within every organization, the segment is expected to generate high revenues in the market during the forecast period.

Geographical segmentation and analysis of IT security as a service market

• APAC
• Europe
• Latin America
• MEA
• North America

APAC will be the fastest-growing region in the IT security as a service market and is expected to grow at a CAGR of 23% during the forecast period. The region offers tremendous growth potential as several countries in the region are heavily investing in intrusion detection, data loss prevention, and endpoint security solutions. The growing need to implement secure data privacy norms from public and private organizations will augment the market’s growth in this region.

Competitive landscape and key vendors

The market is highly fragmented with the presence of many small regional providers and large multinational vendors. The global players are acquiring regional or local vendors to expand their product portfolio and boost their market share. Competition in the market is expected to intensify further with an increase in product and service extensions, technological innovations, and M&A. The vendors are differentiating their product offerings on the basis of their service features, support, and customer base.

Key vendors in the market include -

• Blue Coat
• Cisco
• IBM
• Intel Security
• Symantec

The other prominent vendors in the IT security as a service market are Alert Logic, Barracuda Networks, BT Global Services, CA Technologies, CenturyLink, CGI Group, CheckPoint Software Technologies, CipherCloud, Computer Sciences, CYREN, FishNet Security, Fortinet, HP, Microsoft, NTT Com Security, Panda Security, Proofpoint, Radware, Trend Micro, Trustwave, and Zscaler

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global IT security as a service market?
• What are the key market trends impacting the growth of the global IT security as a service market?
• What are the challenges to market growth?
• Who are the key vendors in the global IT security as a service market?
• What are the market opportunities and threats faced by the vendors in the global IT security as a service market?
• Trending factors influencing the market shares of APAC, Europe, Latin America, MEA, and North America.
• What are the key outcomes of the five forces analysis of the global IT security as a service market?

Technavio also offers customization on reports based on specific client requirement.

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• Global Security Services Market 2015-2019