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By offering, Security as a service segment is expected to grow at a higher CAGR than the Network as a service (NaaS) segment during the forecast period.
According to Zscaler, Security as a service is a way to deliver security technologies, which are traditionally found in enterprise data centers or regional gateways, as a cloud service. Security as a service has become an important enabler of business in the world because it provides secure access to applications and services, no matter where they are hosted or where users connect. NaaS services can range from managed software-defined WAN (SD-WAN) and network access, including wireless to security, unified communications services, and more, either in a public cloud or on virtualized customer premise equipment (vCPE).
Based on Vertical, BFSI segment is estimated to lead the market in 2021.
The BFSI vertical has been at the forefront in adopting SD-WAN, as it enables the banking institutions to provide a broad spectrum of services to customers at sustainable costs. The BFSI vertical is facing bandwidth and security issues while connecting regional offices such as branch offices and data centers. The SASE platforms have built-in security features that secure hybrid networks for widespread use.
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By region, North America is expected to account for the largest market share during the forecast period.
The North American region has the presence of several prominent market players delivering advanced solutions to all the industry verticals in the regions. Apart from the geographical presence, strategic investments, partnerships, and significant R&D activities are thereby contributing to the hefty deployments of SASE solutions. North America is considered the most mature market in terms of adopting SASE solutions, due to factors such as the rise in cloud security measures and authentication frauds.
Market Players:
Major players, namely, include Cisco Systems Inc. (US), VMware Inc. (US), Fortinet, Inc (US), Palo Alto Networks, Inc. (US), Akamai Technologies, Inc. (US), Zscaler, Inc. (US), Cloudflare, Inc. (US), Cato Networks (Israel), Versa Networks, Inc. (US), Forcepoint (US), Broadcom, Inc. (US), Check Point Software Technologies Ltd. (Israel), McAfee, LLC (US), Citrix Systems, Inc. (US), Netskope (US), Perimeter 81 Ltd. (Israel), Open Systems (Switzerland), Aryaka Networks, Inc. (US), Proofpoint, Inc. (US), Secucloud Network GmbH (Deutschland), Aruba Networks (US), Juniper Networks, Inc. (US), Verizon Communications, Inc. (US), SonicWall (US), Barracuda Networks, Inc. (US), and Twingate (US).
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