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Over 17.0% CAGR Predicted in Security As A Service Market During 2020–2030

The security as a service market generated a revenue of $7.8 billion in 2019 and it is predicted to reach a value of $43.4 billion by 2030. Furthermore, the market will advance at a CAGR of 17.4% from 2020 to 2030, as per the estimates of the market research company, P&S Intelligence. The growing use of cloud computing solutions is one of the major factors driving the expansion of the market.

The market is being driven by the growing implementation of the bring-your-own-device (BYOD) policy at workplaces, surging use of cloud solutions, and the increasing enactment of stringent government regulations that mandate the adoption of data security solutions by businesses. Since cloud solutions do not need physical information technology (IT) infrastructure and the involvement of IT professionals, their growing incorporation is massively reducing the financial burden on enterprises.


Security As A Service Market Outlook and Opportunities in Grooming Regions

In addition, these solutions enable users to choose the services that they require and access their data from any place as per their convenience over a secure connection. However, these solutions are susceptible to data breaches and theft and thus, their adoption is fueling the need for security solutions. Besides the aforementioned factors, the increasing usage of multi-factor authentication is also creating lucrative growth opportunities for the players operating in the security as a service market.

Many businesses are increasingly adopting multi-factor authentication, owing to the soaring implementation of the BYOD policy and the implementation of strict government regulations regarding data security. Multi-factor authentication can be easily integrated into security as a service solutions by employing the use of various token generation software, such as Yubikey and Google Authenticator.

This market research report provides a comprehensive overview of the market
  • The Future potential of the market through its forecast for the period 2020– 2030
  • Major factors driving the market and their impact during the short, medium, and long terms
  • Market restraints and their impact during the short, medium, and long terms
  • Recent trends and evolving opportunities for the market participants
  • Historical and the present size of the market segments and understand their comparative future potential
  • Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings




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