Emergence of COVID-19 and Resultant Trend of Work-from-Home to Boost Demand for Security-as-a-Service
Security-as-a-Service (SaaS) is a software-as-a-service (SaaS) company model whereby an external security service provider provides its security services on a contract basis to a company at a fraction of the price typically charged by an individual security provider. This model is becoming increasingly popular, as it offers a range of benefits for businesses. For example, most companies are using one type of security system or another - firewalls, antivirus programs, and email and network security, to name a few. However, with SaaS providers, the costs involved in maintaining and updating those security solutions can be avoided by choosing to use a SaaS security provider to manage them.
Another common advantage of SaaS security providers is that they
do not need to buy large volumes of hardware or equipment - unlike large
enterprises, who often have thousands of servers running on expensive servers all
connected to the company's network. Therefore, the cost and risk of purchasing
and maintaining these large quantities of hardware can be significantly reduced
by using a security company as an independent provider.
The security-as-a-service
security provider also has advantages over traditional on-site security
providers. For instance, there is no need to employ expensive security
professionals - a typical security professional would need to pay rent,
purchase a building and install various equipment, while maintaining the site
at all times. In contrast, a SaaS security provider works on a contractual
basis, which means it will only require you to pay them if they deliver the
service you require. Also, because the provider does not require a large capital
investment in machinery and equipment, the monthly expenses associated with
maintenance can be greatly reduced.
A major trend impacting security-as-a-service is work from home.
The emergence of COVID-19 has led to several changes in how people work and do
business. Several companies have opted for work-from-home, which has given rise
to new security risks. This in turn has led to increasing adoption of SaaS
including automated threat detection and blocking, and endpoint protection for
devices used remotely. The U.S. is expected to witness significant adoption of
SaaS, owing to high number of Covid-19 cases. Moreover, market players in the
U.S. are focused on adopting various strategies to enhance their market share.
For instance, in October 2020, Privafy, the cloud-native cybersecurity company,
collaborated with Micron Technology to deliver a turnkey IoT security solution
that will deliver seamlessly integrated Security-as-a-Service (SECaaS) for OEM
device manufacturers and service providers deploying connected products, from
smart locks to self-driving automobiles.
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