Published On : 21 Nov 2018
The global cloud-based database security market is foreseen to see growth rising with the increase in the adoption of cloud-based services by enterprises in anticipation of future requirements. High exposure of conventional IT infrastructure to challenges birthing from the increase in cloud attacks could raise more demand in the global cloud-based database security market. Hackers usually have an eye on valuable data of enterprises since it can bring a highly lucrative gain from them when exchanged for a ransom. That is why enterprises prefer moving their data to the cloud. This has increased the need to protect cloud environments by upgrading security systems with the use of cloud-based database security services.
Need to Analyze Complex Data and Ease up Storages Lead to Surge in Demand in BFSI
The adoption of cloud-based services is expected to create rewarding prospects in the global cloud-based database security market. It could increase as the digitalization of internal processes continues to grow even for the next few years. Rising internet penetration could be another factor augmenting the demand for cloud-based services. Cloud-based database security is adopted across several industry verticals including government, healthcare, manufacturing, telecom and IT, retail, and BFSI. The increasing need to protect confidential data in these industries has raised more demand for security packages and thereby cloud-based database security.
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There are three kinds of cloud-based database security products available on the global market based on the type of cloud, viz. hybrid, public, and private. BFSI could be one of the leading industries that are increasing the demand in the global cloud-based database security market. This could be due to ever-rising volumes of data generated in BFSI. A number of financial institutions and banks are using cloud-based services to collect customer insights, analyze complex data, and bring ease to their storage systems. Thus, BFSI is anticipated to gather pace in the global cloud-based database security market by bagging a decent share.
Asia Pacific SMEs could be Growth Engines for Cloud-based Database Security Market
SMEs in Asia Pacific are forecast to set the tone for significant growth of the cloud-based database security market as they are responsible for the employment of more than 50% of the region’s workforce, as per the findings of the Asia-Pacific Economic Cooperation. Moreover, 90% of all of the region’s enterprises are actually SMEs. In this regard, it could be said that SMEs are the innovation and growth engines of the region. However, it may be difficult to say that SMEs would amplify the demand in the Asia Pacific cloud-based database security market because of the affordability factor. Nevertheless, there could be strong demand generated by large enterprises in the regional cloud-based database security market.
On the other hand, the advent of IoT, increasing digitalization, and vulnerability of the existing network infrastructure are foretold to push the growth of the cloud-based database security market in Asia Pacific.
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