The Asia Pacific Data Security as a Service Market would witness market growth of 13.3% CAGR during the forecast period (2022-2028).
Cyberattacks have become more sophisticated in recent years, developing more swiftly to elude security measures. SaaS-based platforms, however, offer the benefit of evolving just as quickly, making them advantageous for both applications and security. With the aid of artificial intelligence (AI), Email & Office Security is a multi-layered security solution that detects more hacking and phishing attempts than competing products.
It can quickly spot suspicious user activity, prevent access that might compromise data, and even spot the kinds of text patterns that might indicate a phishing scam. The majority of businesses utilize a variety of applications, as well as specialist business software. Aiming to avoid detection, modern hackers are continually learning about new vulnerabilities and refining new techniques. Because of this, the SaaS security solution for companies must be quicker than theirs.
India's banking sector has historically been one of the most stable in the world. With many efforts designed to bring the nation's unbanked population into the banking spectrum, the government has continually worked to promote financial inclusion. The banking industry in India has received assistance from the Indian government, particularly regarding the financial inclusion objective. The “Pradhan Mantri Jan Dhan Yojana”, a flagship initiative, was introduced in August 2014 to provide universal banking services to the unbanked through the creation of bank accounts and the issuance of payment cards to everyone. Meanwhile, in response to COVID-19's effects, the government put in place several measures to support the banking industry.
The China market dominated the Asia Pacific Data Security as a Service Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5,086.6 million by 2028. The Japan market is estimated to grow a CAGR of 12.6% during (2022 - 2028). Additionally, The India market would experience a CAGR of 14% during (2022 - 2028).
Based on Organization Size, the market is segmented into Large Enterprises and SMEs. Based on Type, the market is segmented into Data Encryption & Masking as a Service, Data Backup & Recovery as a Service, Data Discovery & Classification as a Service, Data Access Control as a Service, Data Governance & Compliance as a Service and Data Auditing & Monitoring as a Service. Based on Vertical, the market is segmented into BFSI, IT & ITes, Retail & eCommerce, Healthcare & Life Sciences, Telecommunications, Manufacturing, Media & Entertainment, Energy & Utilities and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Data Security as a Service Market is Projected to reach USD 62.3 Billion by 2028, at a CAGR of 12.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Cisco Systems, Inc., Amazon Web Services, Inc. (Amazon.com, Inc.), Microsoft Corporation, Hewlett Packard Enterprise Company (HP Development Company L.P.), Cognizant Technology Solutions Corporation, Veritas Technologies LLC (The Carlyle Group), Open Text Corporation (Micro Focus International PLC), Commvault Systems, Inc., and Thales Group S.A.
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