Albany, NY, Aug. 10, 2016 (GLOBE NEWSWIRE) -- MarketResearchReports.biz has added a new report, titled ‘ Global IT Security-As-A-Service 2016-2020,’ to its offering. This report presents comprehensive information on the IT security-as-a service market and is compiled by conducting both primary and secondary research. The study analyzes the market in terms of market dynamics and value chain analysis. The market dynamics covered include drivers, restraints, opportunities, trends, etc. The competitive landscape section of the study comprises the major players dominant in the market and an evaluation on their product offerings and revenue figures.
The introductory section of this study comprises major market highlights, key application areas, and a brief market overview. The IT security-as-a service market is poised to rise at a whopping 19.10% CAGR between 2016 and 2020. Nowadays, the swiftly evolving IT infrastructure in businesses has raised the risk of new kinds of threats such as advanced persistent threats, Trojans, and zero day malware, among others. These threats may put all the critical data within an organization at high risk. To overcome this challenge, a number of enterprises have implemented managed security services for securing their networks. Thus, the global IT security-as-a service market is rising rapidly and enterprises are lowering the risks through the integration of data leak protection functions within a secure cloud-hosted environment.
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The following part of the report comprises the segmentation of the market. On the basis of product, the report segments the market into endpoint protection, email encryption, data loss prevention, information security, IAM, and event monitoring. Amongst these, the segment of email encryption led the market in 2015 and represented a share of 22%. Email encryption is a compulsory requirement within organizations these days, which is why this segment is poised to produce high revenue within this market in the forecast horizon.
Geographically, the report categorizes the global IT security-as-a service market into Asia Pacific (APAC), Latin America, Europe, the Middle East and Africa (MEA), and North America. Of these, Asia Pacific is predicted to be the most rapidly growing regional market, rising at a remarkable 23.0% CAGR from 2016 and 2020. This is owing to the fact that a number of nations within this region have been making investments in data loss prevention, endpoint security, and intrusion detection solutions.
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Moving further, the report covers the drivers, trends, and challenges impacting the market. The growing requirement for mobile security and the increasing volume of data generated within organizations globally will stimulate the growth of the IT security-as-a service market. In addition, the rising implementation of SMAC technology amongst workforces is a prime trend seen in this market. However, the growing concerns regarding mismanagement of data involved in the employment of IT security-as-a service may inhibit the growth of this market in forthcoming years.
As stated in the report, the prominent players dominant in this market are Blue Coat, Cisco, IBM, Intel Security, Symantec, Barracuda Networks, Alert Logic, CA Technologies, BT Global Services, CGI Group, and CenturyLink, among others.
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