Enjoy complimentary customisation on priority with our Enterprise License!
Technavio’s market research analyst predicts that the global SaaS-based IT security market will grow at a high CAGR of around 22% by 2020. SaaS-based IT security applications boost business efficiency, as they support high automation and scalability and offer cost optimization benefits. SaaS-based IT security solutions also reduce the overall cost of ownership due to pay-per-use policy. Organizations are increasingly adopting cloud computing to reduce their expenses in handling enterprise IT infrastructure. The cloud computing model offers security at all levels of enterprise IT architecture so that these applications can be accessed remotely. The growing implementation of cloud services among enterprises will boost the adoption of SaaS-based IT security applications during the predicted period.
According to this market research report, the latest trend that this market is witnessing is the increased demand for integrated security suites. End-users are opting for integrated and converged security suites to prevent integration issues and derive benefits from several other features associated with these suites. Owing to the increased complexity of the network infrastructure, security solutions with better integration ability have gained momentum in the market. This has propelled vendors to provide security suites with features such as network security, application security, data security, and mobile security.
The email gateway services segment dominated the market and accounted for 30% of the overall market share. Growing number of potential threats such as phishing, hackers, spam, and viruses have led to the increased adoption of SaaS-based email gateway services among enterprises. With email being the most preferred medium for communication among enterprises, this segment will grow significantly over the next four years.
The Americas will be the leading region in the SaaS-based IT security market, and is expected to occupy more than 55% by 2020. Much of the region’s growth can be attributed to growing number of cyber-attacks among organizations which has increased the implementation of SaaS-based IT security solutions. Factor such as a surge in the number of mobile devices and high usage of internet, rise in mobile malware attacks, and enterprise mobility will contribute to the growth of SaaS-based IT security solutions market in the region.
This market is highly competitive with large players trying to increase their market share by acquiring small players. Competition in the market will intensify in the coming years with tremendous growth opportunities available for vendors. Players in the market are differentiating themselves by providing additional features such as cloud-based security analytics solutions to enhance customer experience and outperform competitors. However, the shortage of skilled workforce will be a challenge for vendors in the market.
Key vendors in the market include -
The 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.
Technavio also offers customization on reports based on specific client requirement.
Table of Contents
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by service
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Key vendor analysis
PART 15: Appendix
PART 16: Explore Technavio
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.