The Asia Pacific Cloud Data Security Market would witness market growth of 16.0% CAGR during the forecast period (2022-2028).
Businesses need cloud data security because companies acquire vast quantities of data, ranging from strictly private corporate, financial, and consumer information to relatively insignificant data. They keep their data in more locations than ever, including public, private, and hybrid clouds, software-as-a-service applications, cloud storage environments, etc. As a result, businesses realize how difficult it can be to protect and secure all their data across numerous environments.
For instance, if the organization has lost track of all its data and applications. With most of their applications and data being on third-party infrastructure, businesses need more visibility over who is accessing and utilizing their applications and data, which devices are being used for access, and how their data may be utilized or shared.
Even though most cloud service providers offer advanced security, this security is somewhat limited. Ultimately, organizations and cloud providers share security responsibility. Cloud service providers have differing capabilities, which might result in unequal protection and security for cloud data. Moreover, businesses face many security problems, such as the potential for security violations, theft or loss of essential data, application vulnerabilities, and the spread of malware.
India's banking industry has been among the most stable in the world. The government has continually worked to enhance financial inclusion through various measures aimed at bringing the unbanked population of the nation into the banking system. The Indian government has supported the nation's banking industry, particularly the financial inclusion program. In August 2014, the "Pradhan Mantri Jan Dhan Yojana" (PMJDY) was started to provide universal banking services to the unbanked by opening bank accounts and giving payment cards to all. In response to the impact of COVID-19, the government introduced several programs to assist the banking industry. This will drive market’s expansion in the region.
The China market dominated the Asia Pacific Cloud Data Security Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $908.6 million by 2028. The Japan market is estimated to grow a CAGR of 15.3% during (2022 - 2028). Additionally, The India market would experience a CAGR of 16.7% during (2022 - 2028).
Based on Offering, the market is segmented into Solution and Services. Based on Offering Type, the market is segmented into Co-Managed and Fully Managed. Based on Organization Size, the market is segmented into Large Enterprises and SMEs. Based on Vertical, the market is segmented into BFSI, IT & Telecom, Government & Defense, Manufacturing, Healthcare & Lifesciences, Retail & eCommerce 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 Cloud Data Security Market is Projected to reach USD 10.5 Billion by 2028, at a CAGR of 15.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Amazon Web Services, Inc. (Amazon.com, Inc.), Google LLC (Alphabet, Inc.), Cisco Systems, Inc., McAfee Corp., Microsoft Corporation, Palo Alto Networks, Inc., Zscaler, Inc., Fortinet, Inc., Check Point Software Technologies Ltd., and IBM Corporation.
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