Published Date : Mar 26, 2018
Albany, New York, March 26, 2018: A highly detailed report, titled, “Cyber security as a Service Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025,” has been added to the vast repository of MarketResearchReports.biz. It predicts the market to showcase a majestic growth owing to rising adoption of cloud-based systems all over the world.
The global market for cyber security as a service is majorly being boosted by rising adoption of security measures by innumerable companies to protect their server systems, computer hardware and software programs, and other accessories that might be linked through the internet. This is mainly because of an increasing menace involving hacking attacks, phishing, spreading malicious computer viruses, and other associated activities occurring all over the globe. Thus, an increasing number of these activities has led to numerous companies resorting towards setting up cyber-security solutions.
Rising number of security breaches from intruders is putting an increasing onus on companies to develop sophisticated techniques that can improve end-to-end security for all kinds of organizations. Such a requirement has managed to significantly boost the global cyber security as a service market in various regions.
However, several emerging economies as well as remote regions are still yet to make full utilization of cyber security as a service technology. This might hamper the market to a certain degree. Lack of skilled labor who can work on setting up cyber security systems is another obstacle for the global cyber security as a service market. However different strategies by governmental as well other organizations to improve the reach of these services, is expected to counter the restraints.
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The global cyber security as a service market is segmented on the basis of security type, service type, platform, enterprise size, end use industry, and region. Under ‘security type’, the market consists of five segments namely, enterprise, endpoint, cloud, network, and application security. Of these, the network security segment is expected to gross maximum revenue during the forecast period. This is mainly due to a high demand of quality network security in industrial and corporate environments owing to a rising number of threats from hackers and cyber-terrorists.
Geography-wise, the global cyber security as a service market is divided into North America, Asia Pacific, the Middle East and Africa, South America, and Europe. Of these, North America has a lion’s share in the overall revenue owing to strong cyber-infrastructure, both in terms of hardware and software. Apart from North America, Europe as well as Asia Pacific are expected to present significant opportunities in the forthcoming years. This is mainly on account of favorable government initiatives, a promising startup culture, and rising implementation of cloud based services. Repeated cyber-attacks are expected to make companies increasingly invest in quality cyber security measures in these regions.
The global cyber security as a service market exhibits a highly fragmented vendor landscape, especially due to numerous startups and new entrants. Rising adoption of cyber security as a service has made many companies develop highly innovative technologies, in order to provide quality cyber-security solutions and services. Many startups are making their presence felt among the large companies in this market, solely on the ability to provide a variety of service compared to those provided by their competitors. Capgemini, Optiv Security Inc., LookingGlass Cyber Solutions, Inc., Choice CyberSecurity, AT&T, BlackStratus, BAE Systems, Tata Consultancy Services Limited, Transputec Ltd, Optiv Security Inc., FireEye, Inc., and Armor Defense Inc., are some of the prominent companies operating in the global cyber security as a service market.
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