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Global IT-as-a-service Market: Growing Preference for Network Security Expected in Future

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Published on : Aug 18, 2017

Albany, New York, August 18, 2017: The global IT as a service market is witnessing a stupendous growth on account of the growing demand for secure disaster recovery. The report states that the global information technology (IT) security as a service market will expand at a 19% CAGR between 2017 and 2020. The growing amount of organizational data is another factor boosting the growth of this market. The need for data backup will create a demand for IT as a service. 

The fewer occurrences of data intrusion are increasing the popularity of IT as a service in the forecast period. Reduced data loss is another factor for the increased adoption of IT-as-a-service. The growing investment in email security and web security is pushing the demand for IT security and this in turn will boost the growth of the IT-as-a-service market as it includes efficient security solutions. These security solutions include: content security and security event monitoring. The growing preference for network security is expected to result in the increased demand for compliance and policy assessments, compliance related security offerings, and security benchmarking. 

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On the basis of product, the global IT-as-a-service market is segmented into email encryption, data loss prevention, endpoint protection, information security, event monitoring, and IAM. Of these, the market will be led by the email encryption segment. The segment accounted for 22% of the market in 2015. The mandatory requirement of email encryption in every organization will create a heightened demand and drive the segment. By geography, Asia Pacific is anticipated to grow at the fastest pace and expand at a 23% CAGR between 2017 and 2020. The heavy investment in intrusion detection, endpoint security solutions, and data loss prevention is expected to drive the IT-as-a-service market in Asia Pacific. The increasing need for implementing secure data privacy norms in both public and private organizations is slated to further bolster the growth of the market in Asia Pacific. 

The global IT-as-a-service market is fragmented with many small regional and large multinational vendors. Global players are acquiring local or regional market players so as to expand their product portfolio and increase their market share. The competition in the market is anticipated to increase in the coming years on account of service extensions and technological innovations. The players in the market are differentiating their product offerings on the basis of support, customer base, and features. Some of the players in the market are: Alert Logic, Blue Coat, Barracuda Networks, BT Global Services, Cisco, CA Technologies, IBM, CenturyLink, CGI Group, Intel Security, CheckPoint Software Technologies, Symantec, CipherCloud, CYREN, Computer Sciences, FishNet Security, Microsoft, Fortinet, HP, NTT Com Security, Proofpoint, Panda Security, Radware, Trustwave, Zscaler, and Trend Micro. 

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