Global Security as a Service Market size was valued at USD 12.04

Global Security as a Service Market size was valued at USD 12.04

Market Overview:
Global Security as a Service Market size was valued at USD 12.04 Billion in 2021, and is projected to reach USD 29.4 billion by 2028, growing at a CAGR of 13.6% from 2022 to 2028.

In the Security-as-a-Service concept, a service provider integrates its security services into the company infrastructure on a subscription basis more affordably than the majority of people or businesses can do on their own. Data threats (data breaches) are increasing along with firms’ IT infrastructure, which calls for more sophisticated security solutions than previously. Companies have begun allocating resources to enhancing their advanced security offerings as a result of this trend becoming more prevalent in the market. The highest demand for these solutions is a result of growing threats to businesses and corporations and the ensuing rise in identity theft. One of the proactive methods to stop identity theft is with IAM solutions. These solutions use a centralized mechanism to define and alter user access rights. They also keep track of authorization based on those rights.


Market Dynamics:

Businesses can build robust and secure platforms by integrating supplementary infrastructure technologies, such as software-defined perimeters, thanks to cloud implementation. Various governments create distinctive guidelines and rules for cloud platform security, which fosters the expansion of the global cyber security industry. By adopting cloud-based platforms like Software-as-a-Service and Infrastructure-as-a-Service, SMEs are constantly seeking for ways to update their apps and infrastructures.

In the previous five years, new platforms, BYOD policies, CYOD trends, business apps, and other technologies have emerged, making the IT infrastructure more intricate and diverse. The BYOD and CYOD trends are becoming more popular in the workplace due to rapid advancements in mobile computing. These developments give workers more flexibility in their work and boost productivity by enabling them to access company data using their devices from any location, at any…