Data Security as a Service Market Is Predicted to Grow At More Than 12% CAGR From 2023 To 2032
As per a recent research report, Data Security as a Service Market to surpass USD 75 Bn by 2032.
use of digital technology as well as the internet has led to an increase in
data volume. The demand for dependable and scalable backup as well as recovery
solutions has increased as a result. Data backup is essential for an
organization's productivity in the rapid digital business environment. It also
combines strategies and solutions for successful and affordable backup.
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data security as a service market is also expanding due to the widespread use
of cloud-based solutions and preference for technologically advanced systems.
For the record, Nokia introduced two innovative Software-as-a-Service (SaaS)
solutions in the regions of security as well as analytics. The initiative forms
a part of its goal to provide communication service providers (CSPs) and
organizations with a cost-effective and more flexible means of servicing their
customers, running, and monetizing their infrastructure as innovative 5G
services are rolled out.
security as a service market has been divided in terms of type, deployment
mode, organization size, end users, and business.
Based on type,
the data backup and recovery as a service segment is slated to grow
considerably over the review timeline. The segmental growth can be driven by
the extensive usage of cloud-based services and technology. Several firms are
shifting to cloud to save operational costs and provide real-time access to
employees. But as cloud computing has gained popularity, the threat of theft,
data loss, and unauthorized access to personal data has grown. Data backup and
recovery as a service is in high demand as a result.
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With respect to
deployment mode, the private cloud segment is speculated to grow at more than
10% CAGR from 2023 to 2032 driven by the fact that private cloud infrastructure
is maintained and secured by users themselves, making it more vulnerable to
performance problems, insufficient capacity, non-compliance, as well as other
In terms of
region, the Europe data security as a service industry is estimated to hold
more than 25% market share by 2032. European governments are making major
investments in the region's cyber security network, which is luring data
security companies to create new security solutions and services and take
advantage of the escalating demand.
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