Cyber Security As A Service Market Size, Share, Trends, Growth 2032

Cyber Security As A Service Market Insights

According to Zion Market Research, the global Cyber Security As A Service Market was worth 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 report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Cyber Security As A Service industry over the next decade.

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Cyber Security As A Service Market: Overview

Digital networks are of key significance for any firm and hence their security is the key as well as major priority to any organization. With IT firms moving towards digitization of their businesses, the challenges of cybersecurity have propped up. It has become the key task for cybersecurity service providers – either in-house or outsourced- for ensuring the security of the data of the organization, employee’s personal information, and the clients of the firms.

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Cybersecurity as a service has become an enabler rather than becoming an obstacle to digitization and has added value to the digital ecosystem. Furthermore, cybersecurity as a service assist the companies evaluate their digital resilience and determine & prioritize the key assets of the firm for protection. Apart from this, it also helps in protecting the confidentiality of the vital data of the firm from cyberattacks without diminishing the ability of firm to innovate and adds value to technological investments.

Cyber Security As A Service Market: Growth Drivers

Cybersecurity as a service assists the firms in enhancing risk management activities, apply quantitative risk analytics, and develop effective cybersecurity solutions for improving the value chain activities of the business. Apart from this, cybersecurity as a service supports next-gen of enterprise technology platforms including robotics, cloud-based operating models, and agile development.  All these aforementioned factors will catalyze the growth of cybersecurity as a service market in the years ahead.

Furthermore, with firms trying to provide both soothing and seamless digital experience for customers, the market is slated to gain momentum over the coming years. Additionally, the decision of procuring of cybersecurity as a service by the firms is influenced by their needs to provide robust security to cyber infrastructure, intellectual property, and private data. Additionally, the market is anticipated to garner huge proceeds over the coming years due to its spectrum of applications across military & defense, medical, and pharmaceutical sectors. Cybersecurity plays a major role in combating cybercrimes, providing firewalls in defense cyber activities for safeguarding & ensuring national security, and medical cybersecurity equipment for patient safety, thereby steering the business trends. Cybersecurity as a service has majorly influenced and impacted three key domain areas: people, processes, and technology in particular.

Moreover, cybersecurity helps the firms in identifying as well as monitoring high risk group such as those employee groups carrying out the tasks or work of personal data identification. The cybersecurity also helps the firm to avoid the leakage of key information through various means like cyberattacks or hacking. Additionally, cybersecurity service providers also helps in enhancing the awareness about social engineering among the employees and enhance multifactor authentication for staff working from distant locations.

In addition to this, cybersecurity expert’s help in providing strong security to cloud-based virtual desktop applications, shadow IT systems, VPNs, cell-centers, bank-teller interfaces, and other facility-based apps & remotely accessed apps through deployment of compensating controls. Apparently, the cybersecurity as the service assists in reducing patching or patch cycles for critical systems like virtual private networking, cloud interfaces, and end-point protection required for carrying tasks from remote places.

Cyber Security As A Service Market: Report Scope

North America To Contribute Majorly Towards Overall Market Revenue Share During 2024-2032

The regional market growth during the forecast timeline is owing to rise in the digitization and surge in the number of connected devices. Furthermore, the U.S. and Canada are predicted to be the major regional revenue pockets over the forecast timespan.

Cyber Security As A Service Market: Competitive Analysis

cyber security as a service market is dominated by players like:

• Qualys
• Microsoft
• Palo Alto Networks
• RSA Security
• Cisco Systems
• Check Point Software Technologies
• AWS
• Splunk
• Cyberark
• FireEye
• F5 Networks
• Fortinet
• Symantec
• Forcepoint
• IBM Corporation
• F-Secure
• Juniper Networks
• Imperva
• Micro Focus
• McAfee
• Oracle
• Proofpoint
• Rapid7
• Sophos
• Trend Micro

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

By Size of Organization

• Small and Medium Enterprises
• Large Enterprises

By Security Type

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

By End-User Industry

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

By 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