
Published On: Oct 2022
Published On: Oct 2022
At 18.0% CAGR, the APAC Security As A Service Market is projected to be worth US$ 8,818.09 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the APAC security as a service market was valued at US$ 3,259.09 million in 2022 and is expected to reach US$ 8,818.09 million by 2028, registering an annual growth rate of 17.3% from 2022 to 2028. Increasing adoption of BYOD modelling and multi cloud infrastructure are the critical factors attributed to the market expansion.
The IT infrastructure has grown more complicated and heterogeneous over the past five years due to new platforms, BYOD regulations, CYOD trends, business apps, and other technologies. The BYOD and CYOD trends are becoming more and more common in business settings due to the quick improvements in mobile computing. Through mobile devices, employees may access organizational data from anywhere, at any time, thanks to these developments, which boost employee productivity, protect organizational data from potential hazards and maintain its confidentiality and integrity. Users' access to company data is evolving as the BYOD policy gains traction in SMEs and large corporations. Organizations are deploying their workers as BYOD-related technology advances. Organizations are signing up for security services to shield devices like smartphones, tablets, desktop computers, and laptops from cyber dangers due to the BYOD model's adoption. Businesses must secure devices inside offices, and those with remote access to the corporate network as BYOD adoption expands. The market for security as a service is anticipated to rise due to the large increase in expenditure on security services.
On the contrary, ability of vendors to access confidential data hurdles the growth of APAC security as a service market.
Key players dominating the APAC security as a service market are Barracuda Networks, Inc.; IBM Corporation; McAfee, LLC; Microsoft Corporation; Radware; Trend Micro Incorporated; and Zscaler, Inc. among others.
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