New York, NY, April 19, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “SaaS Security Market by Type (Email Protection, Network Protection, Data Loss Prevention, Web Protection, and Identity and Access Protection); by Enterprise Size (Small, Medium, and Large); for End-User (BFSI, Healthcare, Government, Defense, Communication and Technology, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024’’.
According to the report, global SaaS security industry market was valued at around USD 1,600 million in 2016 and it is expected to reach more than USD 11,200 million by 2024. The global SaaS security industry market is expected to grow at a CAGR of more than 26.5% between 2017 and 2024.
Browse through 74 Tables & 30 Figures spread over 110 Pages and in-depth TOC on "Global SaaS Security Market: By Type, Size, Technology, Share, Segments and Forecast 2016 – 2024”.
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Market Report Highlights
- The factors that are increasing the adoption of the SaaS security solutions are its affordability, easy deployment, and data recovery solutions.
- Globally, the adoption of the cloud-based solutions has increased owing to the growing amount of data which has created the need for the security of these data.
- Rising number of cyber-attacks, spam emails, and hacking activities anticipate propelling the growth of SaaS security industry.
- Increasing adoption of cloud computing in various industries such as BFSI, government, healthcare, telecommunication, and others is anticipated to boost the growth of the SaaS security industry market.
- By type, identity and access protection held the largest market share of around 33% in 2016.
- On the basis of enterprise size, large enterprise segment contributed the largest market share of around 60% in 2016.
- The medium enterprise segment is anticipated to register the highest CAGR of 29% between 2017 and 2024 owing to the increased adoption of the SaaS security solutions in order to save the data, emails, and networks.
- The increasing adoption of the cloud technology in the SME has also increased the adoption of the SaaS security in the SMEs.
- By end user, BFSI segment held the largest market share of 33% in 2016.
- Healthcare segment is also anticipated to grow with significant growth rate during the forecast period. Rising need for data management and protection in the healthcare sector is expected to boost the revenue of healthcare segment.
- North America anticipates to be the major revenue-generating region for SaaS security industry market.
- Presence of a large number of SaaS security providers and advanced IT infrastructure is driving the growth of the market in North America.
- The U.S. held the largest market share of around 80% in 2016. U.S.-based companies such as Google, Microsoft, and Amazon are increasingly adopting SaaS security solutions for keeping their customer data safe.
- APAC region is also gaining momentum in SaaS security market and is expected to grow with highest CAGR of around 31% between 2017 and 2024.
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As per analyst, the growing adoption of the cloud–computing solutions, in the organizations has increased the adoption of the SaaS security solutions. More than 65% of cyber attacks were reported in the banking and financial services sectors in 2016. As the BFSI sector deals with huge amount of data and that too especially customer’s personal data, security of this data is a major concern. Owing to this BFSI sector is increasingly adopting the SaaS security solutions.
By type, identity and access protection segment is expected to register the highest CAGR of around 29% between 2017 and 2024. With the help of identity and access management solutions, the organizations get a primary structure for the business processes for managing the electronic or digital identities. The identity and access management solutions comprise of security-policy enforcement applications, password-management tools, reporting and monitoring, apps and identity repositories. The increasing trend of facial recognition and digital identities will open up new opportunities for the growth of the segment. Following identity and access protection segment, email protection segment also anticipates growing with a significant CAGR of 27% over the forecast period owing to the increasing cases of data breaching and phishing.
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On the basis of enterprise size, the market is segmented into small, medium, and large enterprises. Large enterprise segment acquired the major share of around 60% in 2016 owing to the early adoption of SaaS security. The increased adoption of the cloud-computing solutions/services majorly in the large enterprises has increased the demand for the SaaS security solutions. Growing incidences of data breaches have increased the requirement for data security, especially in large organizations. For instance, in July 2017, Equifax’s (largest credit bureaus in the U.S.) faced breaching of the consumer data which included the personal information of 145 million customers. In 2013-2014, Yahoo also faced the same problem of data breaching. The SaaS security provides solutions for securing the e-mails, employee data, and also provides security to the network hence it is being widely adopted in the industries.
North America held the largest market share in global SaaS security market in 2016. Most of the organizations in this region have adopted cloud services due to its features such as flexibility, automatic software update, disaster recovery, free capital expenditure, and data access from anywhere which has simultaneously increased the need for data security. Thus most of the U.S. based companies such as Google, Microsoft, and Amazon are making efforts in keeping their data and the customers’ information safe and secured owing to which the adoption of the SaaS security solutions has increased. APAC region is also gaining the momentum in the SaaS security market and is expected to grow with the highest CAGR of around 31% in between 2017 and 2024.
Browse the full “SaaS Security Industry Market by Type (Email Protection, Network Protection, Data Loss Prevention, Web Protection, and Identity and Access Protection); by Enterprise Size (Small, Medium, and Large); for End User (BFSI, Healthcare, Government, Defense, Communication and Technology, and Others)-Global Industry Analysis, Size, Share, Growth, Trends, and forecast 2016 – 2024” report at https://www.zionmarketresearch.com/report/saas-security-market
The major market players in the global SaaS security industry market IBM, CA Technologies, Symantec Corporation, Gemalto NV, and others.
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The market is segmented on the basis of type, enterprise size, end user and regional.
Global SaaS Security Industry Market: By Type Segment Analysis
- Email Protection
- Network Protection
- Data Loss Prevention
- Web Protection
- Identity and Access Protection
Global SaaS Security Industry Market: By Enterprise Size Segment Analysis
- Small
- Medium
- Large
Global SaaS Security Industry Market: By End-User Segment Analysis
- BFSI
- Healthcare
- Government
- Defense
- Communication and Technology
- Others
Global SaaS Security Industry Market: By Region Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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