Companies in the global Security-as-a-Service market have transformed from service providers, software developers, and security platform providers to managed security service providers (MSSPs) and integrators of Security-as-a-Service for client enterprises, according to Persistence Market Research.
The list of key MSSPs includes Intel Security (the McAfee business, which will soon have a new ownership model), Oracle Corp., Cisco Systems, Gemalto NV, Qualys Inc., Alert Logic Inc., Trend Micro Inc., Proofpoint Inc., Zscaler, Inc., and Okta, Inc., among others, Persistence asserts.
The overall Security-as-a-Service market will reach $16.4 billion by 2026, up from about $3.3 billion in 2016. That's a compound annual growth rate (CAGR) of 17.1 percent, Persistence says.
ChannelE2E Says: While giants like Cisco become MSSPs to large enterprises, SMB customers crave some MSSP love as well. That's where MSPs and the IT vendors who support them enter the picture. Numerous MSPs are launching security operations centers (SOCs) and MSSP services for their SMB customers. And key providers like Continuum are preparing SOC services for the MSP clientele.
Still, consulting firms like The 2112 Group warn channel partners not to bite off more than they can chew in the security sector. After all, you can't fake market knowledge during a major security incident. Even worse, you may not even know the incident occurred.
Complete Research: Security-as-a-Service (SaaS) Market to Rise US$ 16,445.4 Million by 2026
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