![]() The Asia Pacific is anticipated to register the highest growth rate over the forecast period, owing to the factors such as growing exposure to ransomware attacks on countries like Singapore, and Japan, among others, and greater cloud migration & heightened security threats.Moreover, security threats leave devices crippled, demanding expensive repairs for SMEs to afford. Factors owing to the growth of this segment are the growing implementation of cloud-based software in SMEs due to cost-effectiveness, SMEs are more vulnerable to cyberattacks. The SMEs segment is anticipated to register the highest growth from 2022 - 2030.Additionally, the platform as a service eliminates the requirement for acquiring and managing software licenses. ![]() The platform-as-a-service segment is anticipated to register the highest CAGR from 2022 - 2030, owing to the factors, of the increasing need for cloud-based business services to meet the business goals, speed up the creation of apps, and cost-effectiveness in setting up and maintaining core stack.Moreover, the automated software helps eliminate monetary penalties for compliance failure and industry-specific compliance risks, such as the financial industry comes under laws, such as the bank secrecy act, whereas, the healthcare industry complies with the health insurance portability and accountability act.The factors contributing to the growth of the segment are managing and harnessing the power of proactive enterprise risk and increasing compliance activities. The risk and compliance management solution software is anticipated to gain traction over the forecast period.Key Industry Insights & Findings from the report: Thus, the need for security solutions to be outsourced has pushed the cloud access security broker market even further forward. Moreover, cloud protection services are challenging to manage for enterprises. The cloud access security broker market is primarily driven by factors such as growing demand for visibility into shadow IT operations, rising need for securing and compliant cloud use, and increasing use of cloud-based applications among small and medium-sized businesses. 3, 2022 /PRNewswire/ - The global cloud access security broker market size is expected to reach USD 25.6 billion by 2030, registering a CAGR of 17.6% from 2022 to 2030, according to a new study conducted by Grand View Research, Inc.
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