Cyber Security as a Service Market - Growing Consumption to Proliferate Growth at 12.5% CAGR Till 2025, Reports TMR

ALBANY, New York, July 17, 2019 /PRNewswire/ -- The global cyber security as a service market is expected to expand at an astounding CAGR of 12.5% over the forecast period 2017 to 2025. According to the report, the global cyber security as a service market is expected to reach US$87.59 bn in revenue by 2025.

Cyber security is a need of the hour due to rapid digitalization across the globe aiding the growth of global cyber security as a service market.

The cyber security service providers are spread across the global market to carve their ways and position themselves in the competitive global cyber security as a service market.

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Some of the major players that operate in the global cyber security as a service market include, Transputec Ltd, Choice CyberSecurity, Cloudlock (Cisco), Capgemini, Armor Defense Inc., LookingGlass Cyber Solutions, and Tata Consultancy Services Limited.

During the forecast period many small and medium vendors are expected to enter the cyber security services market due to ever growing threat of cyber-attacks in business enterprises.

On the basis of segmentation, the global cyber security as a service market is divided into endpoint, enterprise, cloud, application, network security. Of these, network security is projected to witness a higher growth over the forecast period. The growth can be attributed to growing demand for cloud based cyber security solutions.

Compliance Violation of Data Promotes Cyber Security as a Service Market

In the world of swift digital transformation where the information is readily available at finger tips, there is a high risk involved in data privacy getting compromised from any nook and corner of the world. Therefore, there is an immediate need to prevent our privacy getting breached by data intruders or hackers. The rising demand for end to end solution to protect the enormous data pushes the staggering growth in the global cyber security as a service market in future.

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Several companies are integrating artificial intelligence and machine learning to brace against rising cyber threats. Many businesses are already leveraging the benefits of artificial intelligence in cyber security.  Cyber security services help in collecting data that may be identified as a potential threat and offer solution to overcome potential breach issues and vulnerability. AI ensures improvement in efficiency and accuracy, resulting in the grand growth of the global cyber security as a service market during the forecast period.

Further, the 24/7 surveillance to detect threats and any compliance violations, counter attacking the hacks right on time to ensure that the businesses do not get hampered is expected to drive the expansion of the global cyber security as a service market.

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Lack of better infrastructure such as complexity of devices and ever changing business regulations and standards may hinder the growth of the global cyber security as a service market. Nevertheless, the rising potential threats for military and governments across the globe are projected to boost the global cyber security as a service market in future.

Asia Pacific Emerging as a Lucrative Region

Asia Pacific is expected to witness an impressive growth in the global cyber security as a service market in the upcoming years. The growth can be attributed to increasing government initiatives to protect the data vulnerability and rising number of startups introducing cyber security solutions.

Europe is also expected to contribute to growth in the global cyber security as a service market. So far, it is North America that is dominating the cyber security service market due to the presence of advanced technology in terms of digitalization and better connected devices. The developed regions such as US and Canada are expected to fuel the growth in North America.

This review is based on the findings of a TMR report titled, "Cyber security as a Service Market (Enterprise Size - Small and Medium Enterprise and Large Enterprise; Service Type - Threat Intelligence & Behavior Analysis, Auditing & Logging, and Monitoring & altering; Security Type - Enterprise Security, Endpoint Security, Cloud Security, Network Security, and Application Security, Platform - Managed and Professional; End-Use - IT and Telecom, Retail, BFSI, Healthcare, Defense/Government, Automotive, Education, and Oil and Gas)) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025."

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

Enterprise Size

• Small and Medium Enterprise
• Large Enterprise

Service

• Threat Intelligence & Behavior Analysis
• Auditing & Logging
• Monitoring & altering

Security

• Enterprise Security
• Endpoint Security
• Cloud Security
• Network Security
• Application Security

Platform

• Managed
• Professional

End-Use

• IT and Telecom
• Retail
• BFSI
• Healthcare
• Defense/Government
• Automotive
• Education
• Oil and Gas

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