Worldwide Cyber Security as a Service Industry to 2025 - Growing Trend of BYOD in Enterprises Presents Opportunities - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Cyber Security as a Service Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.

The global cybersecurity as a service (CSaaS) market is expected to register a CAGR of 12.6% in the forecast period (2020-2025).

Companies Mentioned

• Foresite MSP LLC
• FireEye Inc.
• Forcepoint LLC
• Convergent Network Solutions Ltd
• IBM Corporation
• McAfee Inc.
• Armor Defense Inc.
• Transputec Ltd
• Zeguro Inc.
• Cyber Security Services
• Sara Technologies Inc.
• Cloud24x7 Inc.

Key Market Trends

Energy and Utility Sector Drive the Market Growth

The energy and utility sector, globally, hosts a large share of critical infrastructure owned and operated by a country. Highly modernized and automated critical infrastructure, such as the electricity generation sector, oil and gas establishments, and water processing and treatment plants, are highly vulnerable to cyber and physical threats and have been easily targeted by hackers and evil organizations, and state actors.

• According to the Ponemon Institute Report, three-quarters of energy companies and utilities have experienced at least one recent data breach. The physical vulnerabilities for electric power are related to generation facilities, substations, and transmission lines. Large oil refineries are also primary targets. An increase in the transportation of oil through pipelines over the past decade offers a vast and largely unprotected target array. Oil and gas vulnerabilities include lines at river crossings, interconnects, pumps, valves, and compressors, and natural gas city gates.
• Many electric companies operating and protecting critical infrastructure require a strong working partnership. Further, power grid and energy security require private-public cooperation and regulatory coordination among industries, DHS, the Department of Defense (DOD), and the Department of Energy (DOE). The power grid and other industrial infrastructures have been increasingly subjected to both physical and cybersecurity attacks.
• Energy infrastructure industries are more susceptible to outbreaks, such as COVID-19, as such organizations handle a country's critical infrastructure, putting confidential business data and personnel information at risk.
• Energy sectors across the world are being targeted in a new campaign that weaponizes the COVID-19 outbreak. Among industrial targets, the energy sector, and particularly the electric power sector, have become prime targets.

North-America to Dominate the Market

North America is the market leader in global cybersecurity as a service market globally in terms of market share due to the high level of digitalization and the rising number of connected devices. Also, the region leads globally as innovative technology adopters and has a significant presence of cybersecurity vendors contributing to the growth of the market. The increasing need among organizations to reduce the misuse of the internet, enhance employees' productivity, and address attacks on their IT infrastructures is expected to drive the growth of the CsaaS market in North America.

• There are also many companies in the region, contributing to the constant growth of the market in the region and expanding their services in the market. For instance, in January 2020, Accenture agreed to acquire Symantec's Cyber Security Services business from Broadcom Inc., which includes services, such as global threat monitoring and analysis through a network of security operation centers, real-time adversary and industry-specific threat intelligence, and incident response services.
• Moreover, by countries, data breaches in the United States continued to be expensive than those in other nations. Data breaches in the country, on average, cost to USD 8.19 million, which is nearly double that of the global average, and this increased by over 130% over the last 14 years.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET INSIGHT

4.1 Market Overview

4.2 Industry Attractiveness - Porter's Five Force Analysis

5 MARKET DYNAMICS

5.1 Market Drivers

5.1.1 Growing Incidence of Data Breaches

5.1.2 High Costs associated with On- premise Solutions

5.1.3 Increased Adoption from SME's

5.2 Market Restraints

5.2.1 Vulnerability of Cloud-based Applications to Cyber Crimes

5.3 Market Opportunities

5.3.1 Growing Trend of BYOD in Enterprises

5.4 Industry Ecosystem Analysis

5.5 Impact of COVID-19 on the CSaaS Industry

5.6 Emerging Case Studies and Implementation scenarios (Effect of CSaaS implementation among IT and Telecom and Retail Firms. Role of CSaaS in enabling Effective Threat Prevention and Mitigation among SMB's)

5.7 Cost Analysis of Data Breaches

6 MARKET SEGMENTATION

6.1 By Size of Organization

6.2 By Security Type

6.2.1 Vulnerability and Security Assessment

6.2.2 Threat Intelligence and Business Analytics

6.2.3 Auditing and Logging

6.2.4 Continuous Monitoring and Encryption

6.2.5 Identity and Access Management

6.2.6 Other Security Types

6.3 By End-user Industry

6.3.1 Healthcare

6.3.2 BFSI

6.3.3 IT and Telecom

6.3.4 Government

6.3.5 Energy and Utilities

6.3.6 Other End-user Industries

6.4 Geography

6.4.1 North America

6.4.2 Europe

6.4.3 Asia-Pacific

6.4.4 Latin America

6.4.5 Middle East & Africa

7 COMPETITIVE LANDSCAPE

7.1 Company Profiles

8 INVESTMENT ANALYSIS

9 FUTURE OF THE MARKET

For more information about this report visit https://www.researchandmarkets.com/r/tmqq4