Selbyville, Delaware, May 16, 2023 (GLOBE NEWSWIRE) --
The data security as a service market valuation is projected to surpass USD 75 billion by 2032, as reported in a research study 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 expected to reach 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 market demand to limit access-related data security issues.
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The data security as a service market from the healthcare segment was held 10% revenue share 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.
Asia Pacific data security as a service market is poised to exhibit a CAGR of 14% up to 2032, impelled 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.
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Some of the leading companies operating in the data security as a service market are 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.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Data security as a service market 360º synopsis, 2018 - 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM)
2.3 Type trends
2.4 Deployment mode trends
2.5 Organization size trends
2.6 End-use trends
2.7 Regional trends
Chapter 3 Data Security as a Service (DSaaS) Market Insights
3.1 Impact of COVID-19
3.2 Russia- Ukraine war impact
3.3 Industry ecosystem analysis
3.3.1 Solution providers
3.3.2 Service provider
3.3.3 System integrators
3.3.4 Distribution channel analysis
3.3.5 End-users landscape
3.3.6 Profit margin analysis
3.3.7 Vendor matrix
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.7 Regulatory landscape
3.7.1 International standards
3.7.2 North America
3.7.3 Europe
3.7.4 Asia Pacific
3.7.5 Latin America
3.7.6 MEA
3.8 Impact forces
3.8.1 Growth drivers
3.8.1.1 Growing threat of data breaches
3.8.1.2 Increasing demand for cloud-based recovery and backup solution
3.8.1.3 Strict guidelines to boost use of data security as a service.
3.8.1.4 Data evolution and growing security problem.
3.8.1.5 Strategic initiatives taken by market players
3.8.2 Industry pitfalls & challenges
3.8.2.1 High cost of maintaining data privacy
3.8.2.2 Complexity in the integration of data backups and archives
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
