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Data Security as a Service Market Size

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

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Data Security as a Service Market Size

Data Security as a Service Market size surpassed USD 20 billion in 2022 and is projected to register more than 12% CAGR between 2023 and 2032, on account of the mounting cases of cyber-attacks.

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Data security as a service becomes the fastest way to achieve consistent and next-generation data protection through the improvement of business flexibility and agility. With the growing cases of data breaches, the requirement for reliable data security services will increase. Based on statistics from the Identity Theft Resource Center, in the first quarter of 2022, data breaches rose by 14% as compared to a year earlier. Since the cost associated with cyber-attacks is high, businesses are opting for efficient DSaaS software to identify threats and reduce exposure to hackers

Data Security as a Service Market Report Attributes
Report Attribute	Details
Base Year:	2022
Data Security as a Service Market Size in 2022:	USD 20 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	10%
2032 Value Projection:	USD 75 Billion
Historical Data for:	2018 to 2022
No. of Pages:	230
Tables, Charts & Figures:	333
Segments covered:	Type, Deployment Mode, Organization Size, End-use and Region
Growth Drivers:	Growing threat of data breaches Increasing demand for cloud-based recovery and backup solution Strict guidelines to boost use of data security as a service. Data evolution and growing security problem. Strategic initiatives taken by market players
Pitfalls & Challenges:	High cost of maintaining data privacy Complexity in the integration of data backups and archives

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The high cost of cyber breaches and other such incidents may threaten business continuation, thereby encouraging governments to enforce strict cybersecurity norms and mitigate data security issues. For instance, the Cyber Security Agency of Singapore introduced a certification program to identify large businesses and SME that have implemented good cyber hygiene measures. Such initiatives will boost the adoption of holistic approaches to ensure data access monitoring, governance, and at-rest protection and create lucrative growth opportunities for DSaaS providers.

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.