Cybersecurity-as-a-Service Market (2023-2030)
Market to Reach $46.6 Billion by 2030 at a CAGR of 17.5% During 2023–2030.
- Published
- Jun 2023
- Pages
- 260
- Format
- PDF + Excel
- Report ID
- MRICT - 104822
- Base year
- 2022
- 2030 · FORECAST
- $46.60B
- 2030
- $46.60B
- CAGR 2023–2030
- 17.5%
2022 baseline · 2023–2030 forecast at 17.5% CAGR · hover a bar for the value
Key highlights
In 2023, the Large Enterprise Segment is Expected to Account for the Largest Market Share
The Cloud Security Segment to Register the Highest CAGR
The Healthcare Sector Segment to Register the Highest CAGR
Asia-Pacific to Be the Fastest-growing Regional Market
Report summary
| Particulars | Details |
|---|---|
| Base Year | 2022 |
| Estimated Year | 2023 |
| Forecast Period | 2023–2030 |
| Market Size (2030) | USD 46.60 billion |
| CAGR (2023–2030) | 17.5% |
| Format | PDF, Excel & Cloud Portal · 260 pages |
| Segments Covered | By Application: Network Security Network Access Control, Data Loss Prevention, Intrusion Detection and Prevention System (IDS/IPS), Other Network Security Applications, Endpoint Detection and Response, Antivirus/Antimalware, Firewall, Other Endpoint Security Applications, Identity and Access Management, Disaster Recovery and Business Continuity, Security Information and Event Management, Risk and Compliance Management, Cloud Access Security Broker, Container Security · By Organization Size: Large Enterprises, Small & Medium-sized Enterprises · By Sector: BFSI, IT & Telecommunications, Retail, Manufacturing, Healthcare, Energy & Utility, Government, Other Sectors |
| Countries Covered | North America (Canada), Europe (Germany, U.K., France, Italy, Spain, Rest of Europe), Asia-Pacific (Japan, China, India, South Korea, Singapore, Rest of Asia-Pacific) |
| Key Companies | Forcepoint LLC, Foresite Cybersecurity Inc., Fortinet, Inc., Zscaler, Inc., Okta, Inc., Radware Ltd., Qualys, Inc., CrowdStrike Holding, Inc., IBM Corporation, Happiest Minds Technologies Limited, Stratejm Inc., Guidepoint Security LLC, Alert Logic, Inc., Sophos Ltd. |
Report overview
Segments covered: application, organization size, sector. Regions: North America, Europe, Asia-Pacific.
The growth of the Cybersecurity-as-a-Service market is being driven by several factors, including the increasing significance of cybersecurity in the banking sector, the growing number of data breaches and cyber-attacks, the rising trend of BYOD (bring your own device) in enterprises, and government initiatives aimed at encouraging the adoption of cybersecurity solutions. However, organizations' concerns regarding the security of cloud-based solutions restrain the growth of this market.
Furthermore, the increasing adoption of cloud security solutions among SMEs and the healthcare sector's growing adoption of Cybersecurity-as-a-Service solutions are expected to create growth opportunities in the market. However, one of the major challenges for players operating in this market is the lack of awareness and misconceptions regarding Cybersecurity-as-a-Service solutions among potential customers.
Report infographic
Market dynamics
5 factors across 1 forceUnauthorized access to application functionality or data
Exposed cloud services
due to misconfiguration
Hijacking of user accounts
because of poor encryption and identity management
Data leakage from insecure APIs or other infrastructure endpoints
Distributed denial of service (DDoS) attacks
due to poorly managed resources
Table of contents
11 chapters · 111 sections · 260 pages · click to expandSegmental analysis
| Segment | Largest share (2023) | Fastest growth (2023–2030) |
|---|---|---|
| By Organization Size | Large Enterprise | — |
| By Application | — | Cloud security |
| By Sector | — | Healthcare |
By Organization Size
- The large enterprise segment is expected to account for the larger share of the Cybersecurity-as-a-Service market.
- The large market share of this segment is attributed to the strong IT infrastructure of large enterprises, the management of cybersecurity platforms by skilled IT personnel, and the growing adoption of advanced technologies such as cloud, AI, and machine learning.
- However, the small & medium-sized enterprises segment is slated to register the higher CAGR during the forecast period.
By Application
- The Cloud Security Segment to Register the Highest CAGR
- The cloud security segment is projected to register the highest CAGR during the forecast period.
- The rising need to secure workload on the cloud, the increasing demand for advanced threat detection solutions across industries, the growing adoption of BYOD devices, and the growing significance of cloud security solutions in the BFSI sector are expected to support the growth of this segment.
By Sector
- The Healthcare Sector Segment to Register the Highest CAGR
- The healthcare segment is projected to register the highest CAGR during the forecast period.
- The rising adoption of telemedicine devices and remote healthcare services, the rising number of cyberattacks, and the increasing need for securing connected medical devices and effective cloud security measures are expected to support the growth of this segment.
Geographic analysis
Asia-Pacific
Fastest growthHowever, the market in Asia-Pacific is slated to record the fastest growth rate during the forecast period. The infrastructural growth in APAC, especially in China, South Korea, Japan, and India, the rapid growth of regional economies, the rising adoption of advanced technologies such as cloud, AI, and machine learning, growing awareness regarding cloud security among small and medium-sized organizations, and government initiatives promoting the adoption of advanced Cybersecurity-as-a-Service solutions contribute to the rapid growth of this regional market. Asia-Pacific to Be the Fastest-growing Regional Market
North America
Largest shareIn 2023, North America is expected to account for the largest share of the Cybersecurity-as-a-Service market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Competitive landscape
- Forcepoint LLC
- Foresite Cybersecurity Inc.
- Fortinet, Inc.
- Zscaler, Inc.
- Okta, Inc.
- Radware Ltd.
- Qualys, Inc.
- CrowdStrike Holding, Inc.
- IBM Corporation
- Happiest Minds Technologies Limited
- Stratejm Inc.
- Guidepoint Security LLC
- Alert Logic, Inc.
- Sophos Ltd.
Frequently asked questions
The Cybersecurity-as-a-Service market is projected to reach $46.6 billion by 2030, at a CAGR of 17.5% during the forecast period.
Cite this report
Meticulous Research. (2023). Cybersecurity-as-a-Service Market - Global Opportunity Analysis and Industry Forecast (2023-2030) (Report No. MRICT - 104822). Meticulous Market Research Pvt. Ltd. https://www.meticulousresearch.com/product/cybersecurity-as-a-service-market-5506