Published Date: March 21, 2023
Data Security as a Service Market size is expected to reach USD 75 billion by 2032, according to a new research report by Global Market Insights Inc.
Rapid digitalization and the shift of businesses to the cloud are among the key factors bolstering the deployment of DSaaS software as a recovery and backup solution, the report reveals. Information technology companies have been entering strategic agreements to transform their businesses as storage service providers into software-defined, cloud-native data service developers. Such initiatives, alongside the high internet penetration, will lead to a rise in data generation, augmenting the use of data security services to simplify protection against cyber threats among IT organizations.
Data security as a service market from the data access control as a service type segment is estimated to cross USD 12 billion by 2032, given the surging adoption of cloud computing systems. The reliance on IoT and connected devices is also driving product consumption since IoT is the backbone of modern access control systems. Moreover, integrated software development has become a suitable solution to integrate access management in buildings and parking garages. The report says that the growing preference for smart infrastructure will fuel DSaaS service demand to limit access-related data security issues.
Based on the end-use, the healthcare segment accounted for 10% of the data security as a service (DSaaS) market in 2022. This is considering the high awareness of the role of the cloud in healthcare mobile application development. With the growing acceptance of electronic patient portals, medical records, and big data analytics, the requirement for public cloud security has also increased. Furthermore, the advancement in telehealth and remote patient monitoring following the COVID-19 outbreak will accelerate the usage of DSaaS services in the healthcare sector.
Browse key industry insights spread across 230 pages with 304 market data tables and 29 figures & charts from the report, “Data Security as a Service Market Size By Type (Data Backup & Recovery As a Service, Data Encryption & Masking As a Service, Data Discovery & Classification As a Service, Data Access Control As a Service, Data Governance & Compliance As a Service, Data Auditing and Monitoring As a Service), By Deployment Mode (Public Cloud, Hybrid Cloud, Private Cloud), By Organization Size, By End-use, & Forecast 2023 – 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/data-security-as-a-service-market
Asia Pacific data security as a service market share is slated to depict over 14% CAGR through 2032, driven by the deployment of mobile technology, cloud computing, and internet penetration. Over the years, the rate of data breaches has surged, mainly due to the shift to remote work during the lockdowns. These factors will encourage the launch of effective DSaaS software to lower potential loss from cyber-attacks across the APAC region.
Major players involved in the data security as a service market include Microsoft, Veritas Technologies, Cisco Systems Inc., Varonis Systems, Thales, AWS (Amazon), Sophos Professional Services, Quisitive, OpenText Corporation, Imperva, Cognizant Technology Solutions Corp., IBM Corporation, Cybriant, Commvault Systems, Inc., and Asigra Inc. New technology launch is among the strategies being adopted by these companies to strengthen their footprint across the industry.
For instance, in February 2022, Veritas Technology launched a new technology to optimize cloud-optimized autonomous data management and simplify automated protection from threats, such as ransomware. This initiative enabled the company to increase its customer base and solidify its market presence.
Preeti Wadhwani, Shamal Gawande