Data Protection-as-a-Service (DPaaS) Market Segmented By Public Cloud DPaaS, Private Cloud DPaaS, Hybrid Cloud DPaaS Model with Disaster Recovery as a Service, Backup as a Service, Storage as a Service
Industry: IT and Telecommunication
Published Date: April-2022
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 300
Report ID: PMRREP33059
The global data protection as a service (DPaaS) market was valued at US$ 21.6 Billion in 2021, and is projected to register a Y-o-Y increase of 29.6% in 2022 to be valued at US$ 28.0 Billion. During the 2022-2032 period of assessment, demand is expected to rise at a 29.2% value CAGR, likely to reach US$ 113.2 Billion by the end of the said forecast period.
“The deployment of DPaaS market has increased in organizations across the globe, owing to the advantages of better network security and advanced data security, which in turn is expected to propel the market growth.”
An increase in need for data protection among cloud service providers has led to the introduction of data-protection-as-a-service (DPaaS)
| Attributes | Details |
|---|---|
|
Data Protection as a Service (DPaaS) Market CAGR (2022-2032) |
29.2% |
|
Data Protection as a Service (DPaaS) Market Size (2022) |
US$ 28.0 Billion |
|
Data Protection as a Service (DPaaS) Market Size (2032) |
US$ 361.5 Billion |
The advent of cloud computing and software-defined data centers with virtualized infrastructure components delivered as a service has fostered the need for data protection in the present business scenario. This is one of the major factors that is expected to widen the scope for Data Protection as a Service (DPaaS) Market during the forecast period.
Additionally, an increase in need for data protection among cloud service providers has led to the introduction of data-protection-as-a-service (DPaaS). The deployment of DPaaS market has increased in organizations across the globe, owing to the advantages of better network security and advanced data security.
DPaaS help companies to take of such data protection issues by offering cost efficient cloud services. The DPaaS is a multi-tenant model that helps management of a wide range of services via a single portal. After deployment, data protection as a service effortlessly offers different virtual machines capacities for each and every server.
In recent years, there has been a radical shift in the overall evolution of product-based solutions. These offerings have disrupted the IT infrastructure sector. The companies operating in the sector are growingly adopting service models to deliver business outcomes to their consumers as well as vendors. This migration to service-based models was mainly because of the increasing focus on resiliency. As companies and businesses manage vast amounts of data, it has become crucial for them to offer equally resistant data protection services for their clients.
Moreover, the growing stringency in regulations and standards, such as the GDPR policy and Data Protection Act, continues to put more obligations on enterprises to comply. As a result, it builds more pressure on the enterprises to carry out regular checks and focus on their compliance framework to evidence their accountability. With the rise in stringent requirements, data protection services provide a more useful way to meet the enterprises' challenges and reduce their exposure risks of data protection. It involves a collaborative approach to strategize, comply with checks, sight data protection artifacts and processes, and provide incident capabilities.
There are a few factors that are acting as roadblocks for the growth of Data Protection as a Service (DPaaS) Market. One of the factors include high incurrence of costs, which is projected to hinder the market growth.
Moreover, lack of awareness of technologically advanced methods, as well as their misunderstanding of the advantages of Data Protection as a Service are some other factors that are expected to restrain the market growth during the forecast period.
| Attributes | Data Protection as a Service (DPaaS) Market |
|---|---|
|
CAGR (2022-2032) |
29.2% |
|
Market Value (2032) |
US$ 361.5 Billion |
|
Growth Factor |
One of the primary factors driving the market’s growth is the growing virtualization of information technology infrastructure all around the world. |
|
Opportunity |
An increase in demand for cloud-based disaster recovery and backup for virtual machines are expected to be opportunistic for the data protection as a service market growth. |
|
Key Trends |
Increasing adoption of next-generation innovations and the migration of data to a cloud model to gain mobility, agility, and cost reductions over the forecasted period. |
| Attributes | Software as a Service (SaaS) Market |
|---|---|
|
CAGR (2022-2032) |
27.5% |
|
Market Value (2032) |
US$ 800.0 Billion |
|
Growth Factor |
The rising adoption of artificial intelligence (AI) across industries such as healthcare, BFSI, and others, is considered as one of the emerging trends. |
|
Opportunity |
The increasing demand for software as a service application has created various market opportunities for cloud vendors to expand their business amid pandemics. |
|
Key Trends |
The advancement of big data diagnostics techniques, integrated with AI and cloud services across the healthcare system, is driving the demand for SaaS. |
| Attributes | Network as a Service (NaaS) Market |
|---|---|
|
CAGR (2022-2032) |
29.4% |
|
Market Value (2032) |
US$ 42.0 Billion |
|
Growth Factor |
The increased adoption of NaaS solutions by SMEs is one of the major factors driving the market growth. |
|
Opportunity |
The advent of the technologies, such as SDN and NFV, has revolutionized network infrastructures by using virtualizations and cloud computing. |
|
Key Trends |
Nowadays, the enterprises are looking for a network that provides ease of access to their infrastructures, applications, and other IT resources on-demand. This factor is expected to fuel the market growth. |
Data loss is a growing concern for large enterprises as well as small & medium enterprises. Further, data that are difficult to protect such as big data and data accessed by ubiquitous mobile devices are stored in hybrid clouds. Many vendors have developed advanced data protection tools to reduce the costs and consequences of data loss.
Archives provide a snapshot of the desired file from a specific location. Moreover, data backups provide a fail-safe mechanism for all retrieval of data in a system. The old data is overwritten by new data on a regular basis. DPaaS has the ability to scale data assets integrity and retention of data over long period using data backups and archives. This is essential for organizations in the present business scenario that are vulnerable to data theft and other threats to adopt this measure.
Moreover, as businesses collect and generate massive volume of data assets, the need for aligning strict internal governance policies has increased in the recent years. Furthermore, adherence to regulatory norms regarding data storage, management, and encryption is crucial for market players. This has majorly driven the market for DPaaS among business professionals.
Various technology improvements like the merging of connected devices with the internet of things (IoT) and virtual private networks (VPN). With enhanced operational efficiency and data resilience, DPaaS is installed on IoT-enabled devices to secure, preserve, and secure large volumes of data produced by individuals and organizations.
The Data Protection as a Service (DPaaS) Market is segmented into deployment model, services, end-user, and region.
The small and medium enterprises (SMEs) segment is expected to rise at a significant rate during the forecast period. By industry, the DPaaS market is segmented into BFSI, Telecom & IT, government & public sector, healthcare, retail, energy & utilities, manufacturing, and others (aerospace & defense, travel & hospitality).
In 2020, On the basis of service, the STaaS segment dominated the data protection as a service market share, and is expected to maintain a significant market share in the upcoming years. This is attributed to cost-effectiveness of STaaS and no initial costs required for deploying hard drives, servers, and IT technicians. The provision of long-term data storage and business stability is a major growth factor of the overall market.
The large enterprises segment accounts for the majority of the Data Protection as a Service (DPaaS) Market, with a CAGR of 28.2% by 2032.
The growth of the Large Enterprises is mainly attributed to the growing adoption of the hybrid cloud computing model, which is expected to be the future cloud computing model, mostly embraced by large enterprises.
On the basis of deployment model, the Private Cloud category has the greatest market share, with a strong CAGR of 29.5% expected by 2032.
The private cloud is expected to maintain its dominance in the upcoming years. This is attributed to the fact that private cloud provides improved security, greater server control, and enhanced flexibility. Furthermore, private cloud is deployed and customized according to the preferences of users.
| Regions | CAGR (2022-2032) |
|---|---|
|
United States |
26.8% |
|
China |
32.8% |
|
Japan |
30.7% |
|
Brazil |
28.7% |
North America dominated the worldwide Data Protection as a Service (DPaaS) Market, followed by Europe, Latin America and Asia Pacific.
The expansion of cyber security and cloud service business in North America has driven the market for DPaaS in the region. Moreover, increase in implementation of legislative compliances to improve cloud security and reduce cyber-attacks has boosted the market growth.
The presence of numerous vendors that offer a variety of customized solutions is opportunistic for the market. In addition, factors such as data disclosure mandates, need for strict compliance toward sensitive data protection, increase in spending pattern on security forums, and surge in internet penetration have accelerated the demand for DPaaS in the region.
However, Asia-Pacific is expected to witness highest growth rate during the forecast period. The market growth in Asia-Pacific is majorly supported by increased reliability on ICT infrastructure coupled with increase in opportunities for cloud exporters.
Furthermore, rise in number of strategic partnerships among regional and U.S. providers has fuelled the market growth. In Asian countries, the growing trend of cloud computing and BYOD has driven the market growth in the recent years.
New product and technology introductions are a priority for industry players in the global Data Protection as a Service (DPaaS) Market. Additional functions include the ease of acquisition, maintenance and management, and enabling services to be scaled up or down as demands evolve.
In order to strengthen their position in the worldwide Data Protection as a Service (DPaaS) Market, organizations are focused on industry collaborations, mergers & acquisitions, and partnerships.
The research offers a comprehensive competition analysis of some top competitors in the Data Protection as a Service (DPaaS) Market, including company biographies, recent developments, and significant market strategies. It shows how the competitors are taking advantage of the opportunities present in the Data Protection as a Service (DPaaS) Market.
| Attributes | Details |
|---|---|
|
Forecast period |
2022-2032 |
|
Historical data available for |
2015-2021 |
|
Market analysis |
USD Mn for Value |
|
Key Countries Covered |
|
|
By Market Segments |
|
|
Key Companies Profiled |
|
|
Pricing |
Available Upon Request |
DPaaS by Deployment Model
DPaaS by Services
DPaaS by End User
By Region
To know more about delivery timeline for this report Contact Sales
The Data Protection as a Service (DPaaS) Market is projected to grow at a CAGR of 29.2% in 2032.
The US is the leading region, with an anticipated market share of US$ 72.5 Billion by 2032.
The Private Cloud deployment model leads the market with the projected CAGR of 29.5% by 2032.
The Data Protection as a Service (DPaaS) Market is predicted to grow US$ 361.5 Billion by 2032.
The Large Enterprises segment leads the market with the projected CAGR of 28.2% in 2032.
