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Data Security as a Service Market Size By Service Type (Data Backup & Recovery, Data Encryption & Masking, Data Discovery & Classification, Data Access Control, Data Governance & Compliance, Data Auditing and Monitoring), By Deployment Mode, & Forecast 2023 - 2032

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

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.
 

Data Security as a Service Market

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.
 

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 SMEs 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.
 

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.
 

 

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.

Data Security as a Service Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 17
  • Tables & Figures: 333
  • Countries covered: 19
  • Pages: 230
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