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Data Security as a Service Market Analysis

Report ID: GMI5489
Published Date: Mar 2023
Report Format: PDF

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Data Security as a Service Market Analysis

Data Security as a Service Market Share, By Deployment Mode

The public cloud deployment mode segment accounted for over 45% of the data security as a service (DSaaS) market share in 2022, owing to the introduction of key initiatives to augment the launch of public cloud security services. Citing an instance, in November 2022, HCLTech unveiled CloudSMART for AWS, a cloud service portfolio, designed to help enterprises speed up their journey to the cloud. Furthermore, the acceleration of cloud adoption as part of the digitalization trend that emerged during the COVID-19 pandemic is anticipated to fuel DSaaS adoption.

The DSaaS market size from the IT & telecom end-use segment is set to cross USD 22 billion by 2032, attributed to rising automation of the telecom sector with the emergence of IoT, cloud, and other technologies. The increasing penetration of 5G technology has also boosted smartphone consumption, especially in developing nations. Factors such as these will result in telecom network expansion and improvements and consequently hasten DSaaS software development over the forecast period.

Data Security as a Service Market, By Region

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The North American data security as a service market is slated to exceed USD 24 billion by 2032, due to the growing adoption of visualization tools and data analytics to evaluate a large volume of customer data. In recent years, the number of cyber breaches per registered healthcare facilities have risen substantially in U.S. states, including Florida. Since a complete database recovery after system disruptions and data loss can lead to operational delays, organizations across the region are likely to increase DSaaS integration.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The data security as a service market is poised to grow at around 12% CAGR till 2032, on account of the mounting cases of cyber-attacks. The market value was nearly USD 20 billion in 2022.

The public cloud deployment mode segment held over 45% revenue share in 2022, due to the high emphasis on augmenting the launch of public cloud security services.

North American industry is slated to be valued at USD 24 billion by 2032, owing to the growing adoption of visualization tools and data analytics to evaluate a large volume of customer data.

Major developers of data security as a service include Veritas Technologies, Thales, Sophos Professional Services, Quisitive, OpenText Corporation, NetApp, IBM Corporation, Cybriant, Cisco Systems Inc., AWS (Amazon), Asigra Inc., and Acronis.