The secure access service edge (SASE) market generated revenue of USD 2,171.5 million in 2023, which is expected to witness a CAGR of 26.1% during 2024–2030, reaching USD 10,588.5 million by 2030. This can be due to the rising demand for remote work, the higher cloud adoption, the growing cyberattacks, and the rampant digitization.
The security and efficiency needs have enabled SASE to gain ground. Accounting for the need for cloud access that is secure SASE allows you to minimize the risk of cyberattacks. The global drive for digitalization has equally increased the development of the SASE market.
SASE now ranks as the number one concern of many organizations that are always willing to be a part of the networks and security solutions in a cloud-based platform. COVID-19 has resulted in an incredible demand for remote work which has continued to increase the popularity of these solutions as it enables the use of corporation’s resources from any location safely and efficiently. Employers can provide access for their staff and corporate data services securely from any place, on any device, while assuring data confidentiality.
This can be achieved through the design of a zero-trust model that embodies the identity of the person, the features of the device, and the framework in which access is requested, instead of the previous models. Nowadays, many talk about the immense cyberattacks, which happen across the whole company.
Key Insights
- During the projection period, the security as a service category is projected to witness a high growth rate of 27%.
- This method of security management provides strong security services and lucrative solutions.
- It operates on a subscription-based model, providing access to specialized services.
- SaaS helps meet the increasing demand for protection by offering scalable and customizable solutions.
- Organizations prioritize data integrity and privacy, finding SaaS providers' expertise, flexibility, and continuous innovation crucial for resilience against emerging threats.
- Security as a Service (SaaS) is poised for a 27% growth rate from 2024 to 2030, offering robust security solutions through subscription-based access to specialized services.
- The BFSI sector dominated the market in 2023 with a 60% share, emphasizing the need for strong security due to financial data and customer information handling.
- There are many factors shaping the demand that cybersecurity products and services should deal with, like IoT, BYOD, remote work trends, and cyberattacks that affect different industries.
- In terms of the SASE markets, North America remains one of the significant players with a 40% share value. There are various reasons why the North American region is going to maintain this status and they include technological advancements and the increasing demand on the corporate organizations to adopt these technological applications for improved performance and security.
- SASE sums up security procedures and WAN on a cloud-based service, in this way, we can do away with the use of multiple security solutions and also make WAN management a walkover.
- SASE and other IT solutions become a priority for local organizations that have to ensure data security and compliance, and thus it is accompanied by additional investments.
- With the developing market in APAC showing a 30% CAGR in half a decade in the SASE discipline, which will mainly be triggered by an ever-increasing mobile workforce, this makes the region a lucrative market for this sector.
SOURCE:P&S Intelligence
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