The North America Data Security as a Service Market would witness market growth of 11.8% CAGR during the forecast period (2022-2028).
An organization may incur high costs if vital data is lost or improperly disclosed. Because of this, data security is quite beneficial. It is never intended for sensitive information to leak. Whether talking about a bank's clientele or a hospital's patient database, these are sensitive secrets that shouldn't be made public. All of this information is kept securely where it should be. Any company that can maintain confidentiality contributes to the trust of all stakeholders, including consumers, who are certain that their data is secure.
Some technologies in administrative and logistical procedures can be used to secure data. Restrict access, alteration, or disclosure of confidential data. It may even involve the physical component of security. Data security safeguards are in place at most, if not all, firms, some of which are significantly more effective than others. The use of security measures to block access to resources like websites, computers, and any personal or commercial database is another example of these restrictions. Data security is still one of the top priorities for every major organization.
The most recent figures show that the Mexican eCommerce industry had a value of USD 21 billion in 2017 and expanded at a pace of 20% each year. The industry is anticipated to keep growing due to advances in connectivity, improved financial inclusion, more efficient logistics, and rising levels of digital literacy. Online sales for multichannel brick-and-mortar (brick-and-click) stores have reportedly increased to 25% of total sales. 82 million people used the internet in 2018, which is 71 percent of those over the age of six.
The US market dominated the North America 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 $15,682.2 million by 2028. The Canada market is poised to grow at a CAGR of 14.3% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 13.3% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Data Security as a Service Market is Predict to reach $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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