Europe Security As A Service Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Component (Solution and Service), Organization Size (Large Enterprises and SMEs), Application (Network Security, Endpoint Security, Application Security, Cloud Security, and Others), and Vertical (BFSI, Government & Defense, Retail, Healthcare, IT & Telecom, Energy & Utilities, Manufacturing, and Others)
The Europe security as a service market is expected to grow from US$ 3,614.26 million in 2022 to US$ 9,435.01 million by 2028; it is estimated to grow at a CAGR of 17.3% from 2022 to 2028.
Small and medium-sized businesses are increasingly focusing on streamlining their business models by implementing cloud services to increase market efficiency. Additionally, SMEs lack strong security measures to protect their files, networks, endpoints, and apps from cyber-attackers to simplify their operations. Therefore, cloud-based data management solutions and service providers are predicted to experience the significant potential for innovation and the adoption of better security solutions as SMEs focus on cloud services, which will fuel the market for security as a service. According to a recent Interpol assessment on the rise in cybercrime during the COVID-19 epidemic, phishing, scams, and frauds accounted for nearly 59% of all reported cyberthreats. The research says that this trend will probably get worse because of the economic downturn and changes in the corporate environment brought on by the epidemic.
Vendors in the security as a service market can attract new customers and expand their footprints in emerging markets by offering products with new features and technologies. This factor is likely to drive the Europe security as a service market at a good CAGR during the forecast period.
Europe Security As A Service Market Revenue and Forecast to 2028 (US$ Million)
Europe Security As A Service Market Segmentation
The Europe security as a service market is segmented on the basis of component, organization size, application, vertical, and country. Based on component, the market is segmented into solution and service. The solution segment dominated the market in 2022, and the service segment is expected to register the highest CAGR during forecast period. Based on organization size, the market is segmented into small and medium enterprises and large enterprises. The large enterprises segment dominated the market in 2022 and small and medium enterprises segment is expected to register the highest CAGR during the forecast period. Based on application, the Europe security as a service market is segmented into network security, endpoint security, application security, cloud security, and others. The network security segment dominated the market in 2022, and the application security segment is expected to register the highest CAGR during the forecast period. Based on vertical, the Europe security as a service market is segmented into BFSI, government & defense, retail, healthcare, IT & telecom, energy & utilities, manufacturing, and others. The BFSI segment dominated the market in 2022 and is expected to register the highest CAGR during the forecast period. Based on country, the Europe security as a service market is segmented into UK, Germany, France, Italy, Russia, and Rest of Europe.
Alert Logic, Inc.; Barracuda Networks, Inc.; Clearswift; IBM Corporation; McAfee, LLC; Microsoft Corporation; Radware; Silversky; Trend Micro Incorporated; and Zscaler, Inc.
are among the leading companies in the Europe security as a service market.
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