USD 16.06 Billion
Security as a service Market Size, Share, and Growth Analysis
Security as a Service Market By Type (Managed Security Services, Threat Intelligence Security Services), By Vertical (BFSI, Healthcare), By Organization Size (Small and Medium Enterprises, Large Enterprises), By Region -Industry Forecast 2025-2032
Report ID:
SQMIG45A2232 |
Region:
Global |
Published Date: October, 2024
Pages:
197
|Tables:
61
|Figures:
80
Format -
Security as a service Market Insights
Security as a service Market size was valued at USD 16.06 Billion in 2023 and is poised to grow from USD 18.28 Billion in 2024 to USD 51.4 Billion by 2032, growing at a CAGR of 13.8% during the forecast period (2025-2032).
Security as a service is significantly used in organizations as it provides several benefits over traditional methods such as faster operations, constant virus updates, cost effective solutions, and faster operations. Use of cloud technology has increased significantly over the years. As a result of this, it has created the need to have more cost-effective and protected security solutions. Furthermore, rise in digitization and growing adoption of cloud-based services in multiple industries increases demand for security solution globally.
In the past few years, many businesses have implemented business applications, bring your own device (BYOD) policies, choose your own device (CYOD) trends and other technologies. Adoption of these policies offers work flexibility and increased employee productivity. This has increased concern for confidentiality and integrity of the organizational data. To ensure the organizational data safety, demand for security as a service has prominently increased which is anticipated to fuel the global security as a service market growth.
The deployment of security as a service paradigm on new or existing infrastructure presents a number of design and implementation problems. The paradigm requires enterprise IT teams to rethink network security to transition from a network perimeter-based strategy to a user-based and application-based security model. This shift demands significant effort in integrating advanced security measures while ensuring minimal disruption to existing operations. Most networks are not built with cybersecurity in mind, and transitioning to a cybersecurity paradigm necessitates a thorough network study of network infrastructure, services, and traffic. Re-designing networks using security as a service approach necessitates a thorough understanding of each user, device, application, and resource.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Managed Security Services
Fastest Growth
Threat Intelligence Security Services
Growth Rate
13.8% CAGR
Global Security as a Service Market ($ Bn)
Country Share for North America Region (%)
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Security as a service Market Segments Analysis
By component, the market is segmented into Solutions and Services. By solution, the market is segmented into Business Continuity and Disaster Management, Continuous Monitoring, Data Loss Prevention, Encryption, Identity and Access Management, Intrusion Management, Security Information and Event Management, Vulnerability Scanning, and Other Solutions. By service, the market is segmented into Training and Education, Consulting, and Support and Maintenance. By application, the market is segmented into Network Security, Endpoint Security, Application Security, Cloud Security, and Other Applications. By organization size, the market is segmented into Small and Medium-Sized Enterprises (SMEs) and Large Enterprises. By vertical, the market is segmented into Banking, Financial Services, and Insurance (BFSI), Government and Defense, Retail and E-commerce, Healthcare and Life Sciences, IT and Telecom, Energy and Utilities, Manufacturing, and Other Verticals.
Analysis by Type
As per the global security as a service market forecast, the managed security services segment held a significant revenue share of 32.4% in 2024. The managed security services capabilities include exposure assessment, detection and response, security monitoring, and operational services specific to security technology implementation and consulting. MSS providers offer a wide range of engagement models with technology-based management-driven experience. Managed security services have become the systematic approach to growing business requirements. Outsourcing has become prevalent and viable for many SMEs and large enterprises. As organizations prioritize cybersecurity to safeguard sensitive data and maintain trust, the managed security services segment is expected to experience robust growth in the coming years.
Threat intelligence security services are expected to register a CAGR of 9.5% from 2025 to 2032 in global security as a service industry. Rising cybercrime cases in both developed and emerging nations have raised concerns for companies. Governments and other large enterprises are attempting to close the gap between the amount of money spent on cybersecurity systems and the best outcome possible with the threat artifacts gathered to lessen or neutralize emerging threats. The applicability and usefulness of intelligence have led organizations to integrate contextual information and data points to determine relevant threats to the business and thus provide actionable strategies.
Analysis by Vertical
As per the global security as a service market analysis, the BFSI segment held the highest revenue share of 24.2% in 2024. Revenues obtained by companies offering cloud security, biometric technologies, and endpoint detection and response to the BFSI sector make up the security services industry. Cyberattacks, including skilled hackers carrying out premeditated breaches, thefts, invasions, data thefts, viruses, and phishing attacks, have increased in the BFSI industry causing major financial loss. Enforcing cyber security and preventing data breaches with endpoint detection and response (EDR), biometric technology, cloud security, code audit, and embedded system security evaluation is necessary due to the multiple planned breaches in the BSFI sector.
The healthcare segment is expected to hold the largest CAGR from 2025 to 2032 as in many health institutions, security problems are becoming more prevalent. Hospital security systems play a critical role in protecting infrastructure and sensitive information, addressing the heightened need for secure healthcare facilities. The healthcare security systems are mostly driven by the increased need to secure healthcare facilities. With healthcare data being particularly vulnerable, advanced monitoring and access control solutions have become essential. The market for hospital security systems is also significantly influenced by the frequency of vandalism and security risks. Furthermore, the growing incidences of vandalism, security risks, and data theft are significantly influencing the adoption of hospital security solutions, making them indispensable in modern healthcare environments.
Global Security as a Service Market By Type (%)
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Security as a service Market Regional Insights
As per the security as a service market outlook, North America is expected to hold the largest market share in the market. Demand for security as a service is significantly increasing across the region to protect organizations confidential data from cyber-attacks. Additionally, intense competition and the U.S. government regulations regarding cyber security have encouraged the market to create a better service, complying with government regulations which is anticipated to boost the demand for security as a service market in this region. The presence of major market players such as IBM Corporation, Microsoft Corporation, Forcepoint, and Cisco Systems, among others helps in generating revenue in the region.
Asia-Pacific is anticipated to showcase significant growth during the forecast period. Growing adoption of security as a service across China, India, Singapore, South Korea and others are expected to drive the market growth rapidly in this region. Small and medium enterprises, as well as large enterprises in the Asia Pacific region, have become more aware of the rise in number of cybercrimes, which results in growing adoption of security as a service to reduce cyber threats. In addition, the presence of an adequate number of market vendors is propelling demand for security as a service in the region.
Global Security as a Service Market By Geography
- Largest
- Fastest
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Security as a service Market Dynamics
Security as a service Market Drivers
Growing Adoption of Cloud Computing
-
Adoption of cloud computing for various applications such as email services, data backups, ERP, CRM and collaboration services has increased significantly in recent years. This, in turn, has increased implementation of SaaS in various enterprises. Cloud-based services are less expensive since they do not require IT infrastructure set up. Furthermore, cloud-deployment increases susceptibilities in software that can be easily accessed by unauthorized users.
Increasing Utilization of Subscription-based Model in Various Organizations
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SaaS is a subscription model, which facilitates enterprises to provide all team members access to updated software and ensures that all members use the same version. Furthermore, this model offers flexibility to organizations to scale-up and scale-down expenses according to their current requirement, capital, and storage. The major advantage of subscription-based models is that the enterprises can control expected costs.
Security as a service Market Restraints
Data Security Concerns
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The increasing threat of organized and systematic attacks is a major restraining factor for the market. Organizations may face systematic attacks such as data breaches and data hacking frequently. To curb these attacks, security as a service solutions providers need to constantly update their security solutions adequately. Although it becomes challenging to block every attack, enterprises can take essential steps to reduce these activities such as limiting access to business information and growing use of managed security services.
Challenges Associated with Unstructured Data Is Expected to Hamper Growth of Market
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Many organizations unstructured data is available in the form of audio, video, and emails, which are relatively challenging to categorize and search. This is majorly due to the data existing outside the databases. Although organizations can use security as a service solution to secure data that relies on their databases, securing unstructured data becomes difficult for users to identify and classify data and then save it in database.
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Security as a service Market Competitive Landscape
Global security as a service market has witnessed a massive increase in recent years, propelled by the increasing complexity and frequency of cyber threats, coupled with the rising demand for scalable and cost-powerful protection solutions. Security as a service market is characterized by fierce competition, driven by the rapid adoption of cloud-based solutions and the growing need for advanced cybersecurity infrastructure. The competitive landscape includes established players, niche providers and emerging start-ups.
Top Players in Security as a service Market
- Trend Micro (Japan)
- IBM (US)
- Microsoft (US)
- Zscaler (US)
- McAfee (US)
- Forcepoint (US)
- Sophos (UK)
- Clearswift (UK)
- Alert Logic (US)
- Cygilant (US)
- Barracuda Networks (US)
- Panda Security (Spain)
- Cisco (US)
- Fortinet (US)
- Kaspersky Lab (Russia)
- Qualys (US)
- NortonLifeLock (US)
- Okta (US)
- Proofpoint (US)
- Radware (Israel)
- Mindsight (US)
- Sentinel Technologies (US)
- Happiest Minds (India)
- Stratejm (Canada)
- HackerOne (US)
Recent Developments
- In October 2021, Forcepoint partnered with KPMG India to provide data security services to businesses in India. This partnership will enable businesses and government agencies to protect their sensitive data from cyberattacks.
- In July 2021, Trend Micro Incorporated announced a partnership with Microsoft Corporation. Through this partnership, Trend Micro Incorporated aims to provide United customers with advanced and secure cybersecurity.
- In June 2021, Microsoft and Morgan Stanley entered a unique collaboration to unlock the opportunities presented by the Microsoft Cloud through a unique approach to solving financial services challenges.
Security as a service Key Market Trends
- Increased Internet of Things (IOT)-Related Services: Various organizations have started implementing IoT-based solutions, to make functioning sophisticated. IoT solutions providers are incorporating security as a service, in order to reduce cyber-attacks, identify threats, fix vulnerabilities before launching in the market. Moreover, the growing application of security services in IoT has increased the demand for security as a service solution is expected to increase significantly and provide major growth opportunities.
- Cost Savings from SaaS Positioned to Deliver Remarkable Business Growth: Security as a service enables multi-users to share software and hardware. This, in turn, reduces their respective operational costs. Furthermore, these services can be offered over cloud and third-party management thereby aiding in reducing the cost of maintenance and acting as replacement for IT infrastructure in an enterprise. These cost advantages offered by SaaS for small businesses are expected to offer major business opportunities for market players during the forecast period.
Security as a service Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, cloud implementation enables businesses to integrate supplemental infrastructure technologies, such as software-defined perimeters, to construct resilient and secure platforms. Several governments have established unique recommendations and laws for cloud platform security, which promotes global security as a service market growth. SMEs are continuously looking for ways to update their applications and infrastructures by utilizing cloud-based platforms such as Software-as-a-Service (SaaS) and Infrastructure-as-a-Service (IaaS). Most SMEs across verticals become a key target for fraudsters looking to exploit security flaws. Traditional appliance-based firewalls and security gateways cannot protect cloud-based apps against assaults including malware, ransomware, phishing, and DNS data exfiltration. With the advent of new platforms, BYOD regulations, CYOD trends, business apps, and other technologies during the last five years, the IT infrastructure has gotten more complicated and varied. The deployment of security as a service paradigm on new or existing infrastructure presents a number of design and implementation problems.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 16.06 Billion |
| Market size value in 2032 | USD 51.4 Billion |
| Growth Rate | 13.8% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Security as a service Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Security as a service Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Security as a service Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Security as a service Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Security as a service Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Security as a service Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Security as a service Market Report Snapshots
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