February 02, 2012 06:08 ET

Market Research Projects Security Software as a Service Market Growth at 28% CAGR Through 2014

ROCKVILLE, MD--(Marketwire - Feb 2, 2012) - has announced the addition of the new report "Global Security Software as a Service Market 2010-2014" to their collection of Security & Privacy market reports. For more information, visit

This report forecast the global security software as a service market to grow at a CAGR of 28.4 percent over the period 2010-2014. One of the key factors contributing to this market growth is the increasing compliance requirements. The global security software as a service market has also been witnessing increases in security SaaS offerings from large vendors. However, slow development of some security SaaS verticals could pose a challenge to the growth of this market.

Commenting on the report, an IT security analyst said, "Witnessing the high demand for security SaaS, all major vendors are introducing security SaaS offerings. Vendors such as McAfee and Symantec, which are leading players in the traditional Security Software market, are coming up with security SaaS offerings that are targeted toward SMBs. These large vendors are providing a variety of security SaaS offerings from complete protection to specific solutions such as endpoint, email, vulnerability management, and web protection solutions."

According to the report, one of the major driving factors for all IT Security markets is the growing compliance requirements. Although some of the sectors such as financial services, healthcare, and online retail are the most strictly regulated, companies from other sectors also have to comply with multiple regulations. Data breach or insider theft may lead to reputational as well as financial loss. Hence, to protect their infrastructure as well as to protect the clients' interest, the companies are adopting security solutions.

For more information, visit

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