Cyber Security As A Service Market Projected To Grow At A CAGR Of 12.86% By 2032

According to analysts at Zion Market Research, the global cyber security as a service market is USD 23.25 Billion in 2023. The market is forecast to reach USD 69.07 Billion by 2032, growing at a compound annual growth rate (CAGR) of 12.86% during the forecast period 2024-2032. The cyber security is an essential part of the security strategies implemented by different organizations mainly owing to the developing cyber-attacks originating from an augmented number of sensors, a rapidly increasing IoT (internet of things) market, cloud integration, and others. Furthermore, businesses at present neither have the time nor the skills to cope with the complications of security and security point products, particularly in a growing IoT market. Therefore, the businesses are extensively outsourcing their cyber security task and hence, the global cyber security as a service market is budding exponentially.

Some of the key companies in the market are Check Point Software Technologies, AWS, Cyberark, Cisco Systems, FireEye, F5 Networks, Fortinet, Forcepoint, IBM Corporation, F-Secure, Juniper Networks, Imperva, Micro Focus, McAfee, Oracle, Microsoft, Proofpoint, Palo Alto Networks, Rapid7, Qualys, Sophos, RSA Security, Symantec, Splunk, and Trend Micro.

Rising Demand For Security Services Will Boost The Global Cyber Security As A Service Market

The rapid development in the cyber security as a service market is being boosted by the technology trends, as well as the number of programs taken by organizations to advance efficiency and productivity, such as BYOD (bring your own device) and IoT. In addition, the rapid implementation of cloud-based applications or widening the security requirements beyond the conventional data center is also spurring market growth. Also, the key driver of the market is a higher demand for logging & auditing security services and booming content industry and the increasing sophistication of cyber-attacks force augmented the implementation of the cyber security measures.

The global cyber security as a service market is bifurcated on the basis of size of the organization, security type, end-user industry, and regional analysis. Based on the size of the organization, the market is divided into small & medium enterprises and large enterprises. Based on the security type, the market is divided into threat intelligence & business analytics, vulnerability & security assessment, monitoring & altering, and auditing & logging. Based on the end-user industry, the market is divided into IT & telecom, BFSI, retail, government, healthcare, and other end-user industries.

The North America Region To Witness Highest Share In The Global Cyber Security As A Service Market

Based on the geographical analysis, global cyber security as a service market is divided into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. The North America region ruled the market during 2018 and contributed for 38.3% market share of the overall revenue. The development is due to the presence of leading players providing advanced solutions & services to all the segments in the region. Moreover, the rising awareness concerning cyber security amongst small and medium organizations is likely to impel the demand for cyber security solutions in the forecasted period.

Browse the full “Cyber Security As A Service Market - By Size Of The Organization (Size Of The Organization and Large Enterprises), By Security Type (Threat Intelligence & Business Analytics, Vulnerability & Security Assessment, Monitoring & Altering, and Auditing & Logging), By End-User Industry (IT & Telecom, BFSI, Retail, Government, Healthcare, and Others), and By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024 – 2032.” Report at https://www.zionmarketresearch.com/report/cybersecurity-service-market

The global cyber security as a service market is segmented as follows:

Based on the size of the organization

• Small and Medium Enterprises
• Large Enterprises

Based on the security type

• Auditing & Logging
• Vulnerability & Security Assessment
• Threat Intelligence & Business Analytics
• Monitoring & Altering

Based on the end-user industry

• BFSI
• IT & Telecom
• Retail
• Healthcare
• Government
• Other End-user Industries

Based on the region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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