Data Protection as a Service Market is expected to reach US$ 94.3 Billion by 2027


PRESS RELEASE BY The Insight Partners 30 Aug 2019

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Data protection as a service is a cloud-based or web-delivered service to protect data assets residing on the cloud platform. Organizations generally utilize this service to enhance their network security and improve security for effective data management on the cloud. With the growing information flow, there is a constant demand for advanced data security software and services. There is a rising demand for solutions & services to reduce complexities and maintenance in terms of large data volumes. Data protection as a service help organizations to effectively and efficiently tackle security issues by offering cost-effective cloud services. It is a multi-tenant model which enables management of various services through a single portal. Growing demand for privacy and data security across all organizations globally is playing a major role in driving market growth. On the contrary, the implementation of these data protection services requires additional cost. Since the small enterprises have budget constraints, it is negatively impacting the adoption of DPaaS.

Besides, providers of DPaaS are looking ahead to opt for advanced data protection services. The organizations are enhancing their hosted services for improved benefits such as efficient management, higher scalability, and recovery options. Many solutions and service provider are offering advanced data protection solutions and services. Further, disaster recovery as a service is one of the driving factors for the market, as it allows organizations to have entire server's data and application store in the cloud, so that data can be recovered at any time during the crisis. Organizations are adopting cloud-based data protection services to manage and recover the data as needed. This trend will drive data protection as a service market growth in the near future. The trend is predicted to pitch over the period leading to a huge opportunity for data protection as a service player.

Data Protection as a Service Market

Data Protection as a Service Market


Data Protection as a Service Market to Reach US$ 94.3 Bn at a CAGR of 29.1% in 2027 | The Insight Partners

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Data Protection as a Service Market to 2027 - Global Analysis and Forecasts by Deployment (Private Cloud, Public Cloud, Hybrid Cloud); Organization Size (SMEs, Large Enterprises); Service Type (Backup as a Service (BaaS), Disaster Recovery as a Service (DRaaS), and Storage as a Service (STaaS))

 

The data protection as a service market has been derived from market trends and revenue generation factors from five different regions across the globe, namely; North America, Europe, Asia Pacific, MEA, and SAM. The North America region holds the highest market share, while the Asia Pacific is projected to be the fastest-growing region as well in the coming years. The huge growth potential of the APAC region presents ample growth opportunities for DPaaS market during the forecast period of 2019 to 2027. Businesses in this region have started exploring various advanced solutions to ensure effective and secure business operations. Few companies have already set up the vision and strategy for the implementation of advanced technologies such as artificial intelligence in the next few years; whereas, many enterprises are in the planning phase.

The data protection as a service market by service type is segmented into Backup as a Service (BaaS), Disaster Recovery as a Service (DRaaS), and Storage as a Service (STaaS). The BaaS service type holds a significant share in the market, whereas DRaaS is expected to be the fastest-growing service type during the forecast period. BaaS is an approach of backing up of data and recovery services provided by DPaaS providers. BaaS connects the system to public, private, or hybrid cloud managed by the service providers. The BaaS is automated where data is saved automatically. BaaS is not subjected to the threat of hackers, user error, and natural disasters. Moreover, the data stored in the BaaS is encrypted. On the other hand, DRaaS enables businesses the ability to have an entire machine, servers, and applications stored on the cloud, so the event of a crisis, the data can be restored to a pre-disaster state.

The major players operating in the market for data protection as a service market are Acronis International GmbH, Amazon Web Services, Inc., Commvault, Carbonite, Inc, EMC Corporation, Hewlett Packard Enterprise Development LP, IBM Corporation, McAfee, LLC, Quantum Corporation, and VMware, Inc. among others.

Data protection as a Service Market - Geographic Breakdown, 2018 

Source; The Insight Partners Analysis

The report segments the global data protection as a service market as follows:

1.1.1 Global Data protection as a service Market - By Deployment

• Private Cloud
• Public Cloud
• Hybrid Cloud 

1.1.2 Global Data protection as a service Market - By Organization Size

• Small & Medium Enterprises 
• Large Enterprises

1.1.3 Global Data protection as a service Market - By Service Type

• Backup as a Service (BaaS)
• Disaster Recovery as a Service (DRaaS)
• Storage as a Service (STaaS)

1.1.4 Global Data protection as a Service Market - By Geography

 

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific (APAC)
    • South Korea
    • China
    • India
    • Australia
    • Japan
    • Rest of Asia Pacific
  • Middle East and Africa (MEA)
    • South Africa 
    • Saudi Arabia 
    • U.A.E.
    • Egypt
    • Kuwait
    • Qatar 
    • Rest of MEA 
  • South America
    • Brazil
    • Argentina
    • Rest of South America (SAM)


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