Report : Asia Pacific Cloud Security Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Service Model [Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS)], Deployment Model (Public Cloud, Private Cloud, and Hybrid Cloud), Organization Size [Small & Medium-sized Enterprises (SMEs) and Large Enterprises], Solution Type (Email and Web Security, Cloud Identity and Access Management, Data Loss Prevention, Intrusion Detection System/Intrusion Prevention System, Security Information and Event Management, and Others), and Industry Verticals (BFSI, IT and Telecom, Energy and Utilities, Government and Public Sector, Healthcare and Life Sciences, Manufacturing, and Others)   

At 17.3% CAGR, the Asia Pacific Cloud Security Market is speculated to be worth US$ 29,458.69 million by 2028, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific cloud security market was valued at US$ 11,297.70 million in 2022 and is expected to reach US$ 29,458.69 million by 2028, registering an annual growth rate of 17.3% from 2022 to 2028.  Increase in government initiatives and surge in technological advancements in cloud security are the critical factors attributed to the Asia Pacific cloud security market expansion.

Governments are investing in cloud technology and through Public–Private Partnerships (PPPs), they collaborate with businesses in the private sector to advance smart city and smart transportation initiatives. Cloud-based technologies provide dependable, economical, and scalable solutions. Cloud storage solutions are embraced by crucial infrastructure sectors such as communications, IT, energy, and financial services to store private and confidential data. The use of cloud technologies is significantly increasing with such initiatives by various governments, which is likely to favor the Asia Pacific cloud security market during the forecast period.

On the contrary, weak collaborations among organizations and cloud security service providers process hurdles the growth of Asia Pacific cloud security market.    

Based on service model, the Asia Pacific cloud security market is segmented into infrastructure as a service (IaaS), platform as a service (PaaS) and software as a service (SaaS). The software-as-a-service (SaaS)segment held 53.5% market share in 2022, amassing US$ 6,046.16 million. It is projected to garner US$ 14,317.02 million by 2028 to expand at 15.5% CAGR during 2022–2028.  

Based on deployment model, the Asia Pacific cloud security market is segmented into public cloud, private cloud, and hybrid cloud. The public cloud segment held 55.9% market share in 2022, amassing US$ 6,317.11 million. It is projected to garner US$ 14,184.33 million by 2028 to expand at 14.4% CAGR during 2022–2028.

Based on enterprise size, the Asia Pacific cloud security market is segmented into small and medium-sized enterprises (SMEs), and large enterprises. The large enterprises segment held 72.2% market share in 2022, amassing US$ 8,158.52 million. It is projected to garner US$ 19,453.33 million by 2028 to expand at 15.6% CAGR during 2022–2028.

Based on solution type, the Asia Pacific cloud security market is segmented into email and web security, cloud identity and access management, data loss prevention, intrusion detection system/intrusion prevention system, security information and event management, and others. The email and web security segment held 27.4% market share in 2022, amassing US$ 3,095.95 million. It is projected to garner US$ 8,343.58 million by 2028 to expand at 18.0% CAGR during 2022–2028.

Based on industry vertical, the Asia Pacific cloud security market is segmented into BFSI, IT and telecom, energy and utilities, government and public sector, healthcare and life sciences, manufacturing, and others. The BFSI segment held 25.5% market share in 2022, amassing US$ 2,881.69 million. It is projected to garner US$ 7,225.64 million by 2028 to expand at 16.6% CAGR during 2022–2028.

Based on country, the Asia Pacific cloud security market is segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 32.7% market share in 2022. It was assessed at US$ 3,696.61 million in 2022 and is likely to hit US$ 10,216.27 million by 2028, exhibiting a CAGR of 18.5% during the forecast period.    

Key players dominating the Asia Pacific cloud security market are Amazon Web Services; Microsoft Corp; International Business Machines Corp; Oracle Corp; Trend Micro Incorporated; VMware, Inc.; Palo Alto Networks, Inc.; Cisco Systems Inc; Check Point Software Technologies Ltd.; and Google LLC, among others.  

  • In 2022, Palo Alto Networks added Out-of-Band Web Application and API Security (Out-of-Band WAAS) to Prisma Cloud to help organizations secure web applications with maximum flexibility.

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