Cloud Hosting

As per Persistence Market Research revised analysis, the global SaaS market is poised to surge at a CAGR of over 18% through 2031.

Key Takeaways from Market Study

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"Enterprises are implementing IOT-based solutions progressively. IOT solution providers are integrating SaaS in order to reduce cyber-attacks on connected devices, identify the threat, and fix susceptibilities before launching them in the market, says a Persistence Market Research analyst.

COVID-19 Pandemic Impact Analysis

Increase in remote working has led to the need for greater focus on cyber-security, because of higher exposure to cyber risks. This is evident from the fact that around 47% of individuals fall for phishing scams while working at home. Cyber-attackers are seeing COVID-19 as an opportunity to step up their criminal activities and exploit vulnerable employees working from home. Hence, to reduce the impact of cyber-attacks, companies are focusing and enhancing their development and application of security measures.

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Many companies are increasing their spending budgets on security solutions as a fight against increasing number of cyber-attacks and threats amidst this pandemic outbreak. Also, cybersecurity technology and service providers are shifting priorities to support current needs: business continuity, remote work, and planning for transition to the next normal.

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Find More Valuable Insights

Persistence Market Research puts forward an unbiased analysis of the global security as a service market, providing historical demand data (2016-2020) and forecast statistics for the period 2021-2031. To understand the opportunities in SaaS, the market is segmented on the basis of component (solutions and services), application (network security, endpoint security, application security, cloud security, and others), and vertical (banking financial service and insurance, healthcare, retail, it & telecom, energy & utilities, government, and others), across seven major regions of the world.

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Security-as-a-Service Market is poised to surge at a CAGR of over 18% through 2031 - PRNewswire