Cyber Security as a Service Market Analysis

Security Type (Network Security, Endpoint Security, Application Security, Cloud Security)

The global cyber security as a service market is segmented and analyzed for demand and supply by security type into network security, endpoint security, application security, and cloud security. Out of these segments, cloud security segment is anticipated to garner the largest revenue by the end of 2037, backed by increasing adoption of cloud-based solution. Governments in developed countries have long shifted their focus away from legacy IT systems and toward more cloud-based data management solutions, including the use of public cloud services delivered over infrastructure shared by multiple clients.  Over 100 zettabytes of data are expected to be stored in the cloud by 2025, i.e., around 50% of worldwide data.

End-user (Aerospace & Defense, BFSI, Public, Retail, Healthcare, IT & Telecom, Energy & Utilities, Manufacturing)

The global cyber security as a service market is also segmented and analyzed for demand and supply by end use industry verticals into aerospace & defense, BFSI, public sector, retail, healthcare, it & telecom, energy & utilities, and manufacturing. Out of all the industry verticals, the BFSI segment is to garner the largest market share in the forecasted period. The growth of the segment is credited to rise in the online banking fraud which increases the need for online payment fraud detection across BFSI sector. In the United States, online banking accounted for 93% of all fraud attempts and 96% of all banking transactions in the first quarter of 2021. Moreover, in comparison to last four months of 2020, the online financial frauds in the United States jumped by around 25% in the first four months of 2021.

Our in-depth analysis of the global market includes the following segments: