Data Security as a Service Market Key Players, Trends, Share, Size

The Data Security as a Service (DSaaS) market is projected to grow from USD 31.0 billion in 2022 to USD 55.3 billion by 2027, achieving a CAGR of 12.3% during the forecast period. Key factors driving this growth include the evolution of data and associated security challenges, adherence to strict regulatory guidelines, and the increasing adoption of cloud technology and IoT devices by enterprises.

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Key Segment Insights:

Data Governance & Compliance as a Service:

High Growth Rate: This segment is expected to grow at the highest CAGR during the forecast period. Data governance solutions help organizations manage and secure unstructured data, which comprises more than 80% of enterprise data and is expected to double exponentially. These solutions provide an automated, scalable, and interoperable platform to govern unstructured data, addressing the challenges of identifying data location, ownership, and access rights.
Small and Medium Enterprises (SMEs):

Highest CAGR Expected: The SMEs segment is anticipated to witness the highest growth rate during the forecast period. The widespread use of mobile technology, BYOD trends, and cloud services has increased security concerns for SMEs. This has driven the adoption of data security solutions, despite budget constraints, to protect against cyberattacks, data loss, and personal data theft.
Asia Pacific Region:

Significant Growth Rate: The Asia Pacific region, including countries like China, Australia, Japan, and Singapore, is projected to grow significantly during the forecast period. The region has seen a rapid surge in sensitive data exchange, making it vulnerable to cyberattacks. The increase in complex cyber threats and the costs associated with them has led to a growing demand for robust data security solutions. The awareness of cybersecurity in the region has also increased following major ransomware attacks like WannaCry.
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Market Players:

Major vendors in the global data security as a service (DSaaS) market include:

Cisco (US)

AWS (US)

Thales (France)

IBM (US)

Cognizant (US)

Micro Focus (UK)

Microsoft (US)

Varonis Systems (US)

Imperva (US)

Commvault (US)

HPE (US)

Acronis (Switzerland)

Veritas Technologies (US)

Asigra (Canada)

NetApp (US)

GuidePoint Security (US)

Informatica (US)

Carbonite (US)

TrustArc (US)

Cloudian (US)

NetWrix (US)

Alation (US)

Infrascale (US)

Securiti (US)

DataGuard (Germany)

Cobalt Iron (US)

Storagepipe (Canada)

Polar Security (Israel)

Clarip (US)

SEQRITE (India)

These companies play a critical role in advancing DSaaS solutions, ensuring robust data security measures to combat evolving cyber threats globally.

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