The report forecasts the global SaaS-based IT security market to grow at a CAGR of 22.38% during the period 2016-2020.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend fostering market growth is the increasing demand for integrated security suites. End-users prefer integrated and converged security suites to prevent integration issues, and derive benefits from several other features associated with these suites. In addition, the increased complexity of the network infrastructure has made integration an important buying criterion; therefore, solutions with better integration ability are finding higher adoption among end-users.
According to the report, one driver facilitating growth is the growing adoption of cloud computing by organizations. Organizations worldwide adopt cloud computing technologies to reduce costs associated with managing enterprise IT infrastructure. Also, with the adoption of cloud computing services, end-users can concentrate more on organizational core activities rather than on managing applications. Further, enterprises can establish a rapid deployment model, which enables applications to be scaled quickly to match increasing usage requirements.
Further, the report states that increasing data security concerns will pose a significant challenge for this market.