USD 235.16 billion
Data Protection As A Service Market Size, Share, Growth Analysis, By Service Type(Disaster Recovery as a Service (DRaaS), Backup as a Service (BaaS), Storage as a Service (STaaS)), By Deployment(Public Cloud, Private Cloud, Hybrid Cloud), By End Use(SMEs, Large Enterprise), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45C2055 |
Region:
Global |
Published Date: October, 2024
Pages:
165
|Tables:
89
|Figures:
76
Data Protection As A Service Market Insights
Global Data Protection as a Service Market size was valued at USD 14.8 billion in 2022 and is poised to grow from USD 19.51 billion in 2023 to USD 177.62 billion by 2031, growing at a CAGR of 31.80% during the forecast period (2024-2031).
One of the key factors influencing market growth is the increased usage of next-generation technologies and the movement of data to a cloud model to increase flexibility and agility and maximize cost savings. Therefore, organizations are considering data security solutions and services via the cloud to store and preserve crucial data from data loss, data theft, and operational calamities. The development of service-based offerings from product-based solutions has drastically altered the IT infrastructure market. Businesses are using the service model more frequently to provide business outcomes to their clients and suppliers. As companies manage thousands of data sets, the transition to the service-based paradigm was primarily brought on by the emphasis on resilience. Data protection as a service (DPaaS), which offers data protection across computing, storage, and network environments, has shown to be the most robust service among infrastructure services by assisting businesses in implementing backup solutions at scale.
The DPaaS solutions also aid in securing and regaining access to the database's data and information. For instance, some businesses that use edge computing or high-performance computing environments frequently experience high data flow rates within their functional levels and have constrained bandwidth and inadequate backups to handle the influx of information. A minor error in the backup process could result in a significant loss of data and high operational costs for the businesses to recover the lost data because of their limited capabilities. As a result, businesses are utilizing DPaaS solutions more frequently to give their functional, administrative, and development teams effective recovery choices so they can regularly backup their data before something goes wrong.
Additionally, more requirements for compliance are being placed on businesses by the increasingly strict regulations and standards, such as the GDPR policy and the Data Protection Act. This increases the pressure on the businesses to perform routine audits and concentrate on their compliance framework to provide evidence of their accountability. Data protection services are becoming more important as regulations become more stringent because they help businesses overcome obstacles and lower their exposure risks related to data protection. It requires a cooperative strategy, compliance with checks, awareness of data protection artifacts and processes, and provision of incident capabilities.
Another factor influencing the expansion of the market is the growing Bring Your Device (BYOD) and Choose Your Device (CYOD) trends among businesses. Employees can register their own devices and share them with the company to increase productivity by utilizing BYOD policies. As a result, one of the main issues for businesses is the rise in risks associated with data theft, data piracy, and data storage. Businesses use DPaaS services and solutions to reduce such difficult problems. Furthermore, COVID-19's pandemic impact has compelled organizations to move their services and solutions to the cloud. Businesses chose recovery services as a result of their growing reliance on remote network infrastructure. Additionally, increasing instances of data theft also portend the market's growth in 2019.
US Data Protection As A Service Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Vitamins
Fastest Growth
Vitamins
Growth Rate
13.6% CAGR
Global Data Protection As A Service Market ($ Bn)
Country Share for North America Region (%)
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Data Protection As A Service Market Segmental Analysis
Global Data Protection as a Service Market is segmented by Service Type, Deployment, End-use, and region. Based on Service Type, the market is segmented into Disaster Recovery as a Service (DRaaS), Backup as a Service (BaaS), Storage as a Service (STaaS). Based on Deployment, the market is segmented into Public Cloud, Private Cloud, and Hybrid Cloud. Based on End-use, the market is segmented into SMEs, and Large Enterprises. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Data Protection As A Service Market Analysis by Service Type
The Disaster Recovery as a Service (DRaaS), Backup as a Service (BaaS), and Storage as Service segments of the DPaaS market are separated based on service type (STaaS). With a revenue share of more than 47% of the total market, the STaaS service type dominated the market in 2021. The service is more common among small and medium-sized businesses since it provides them with a practical means of mitigating disaster recovery and storage needs. Additionally, the industry is expanding as a result of the rising demand for long-term preservation of records, databases, and the cloud to improve business continuity.
Over the projected period, it is predicted that the segment with the fastest growth would be disaster recovery as a service. Enterprises are choosing DRaaS solutions due to the surge in malware, software defects, and data breaches. Additionally, growing risks of device failure, power outages, and communication breakdowns are also foreseen to rise. The dependence on remote hardware infrastructure and the necessity for recovery solutions among personnel in the COVID-19 situation raised the need for DRaaS solutions.
Data Protection As A Service Market Analysis by Deployment
With more than 42% of the global revenue share in 2021, the hybrid cloud deployment segment dominated the market. Additionally, a higher CAGR is expected during the forecast period. Public and private clouds are both included in the hybrid cloud, giving businesses greater flexibility and more effective deployment options. For instance, businesses could use the public cloud for data with high volume and low-security requirements and the private cloud for mission-critical tasks requiring high security. As a result, the hybrid cloud model is becoming more and more popular due to its effective control, adaptability, and cost-effectiveness characteristics.
The public cloud deployment type is expected to expand significantly after the hybrid cloud segment. Small and medium-sized businesses are heavily utilizing the public cloud due to its low-cost offerings compared to other deployment strategies. Additionally, it is largely utilized for testing environments and office end-user web-based email storage, backup, and recovery needs. Additionally, attributes like total on-demand resource scalability, enhanced reliability to offer support in the event of a failure, and low maintenance hardware infrastructure costs strengthen the model's popularity among businesses looking to grow their spending.
Data Protection As A Service Market Analysis by End Use
With more than 71% of the market's total revenue share in 2021, the large enterprise end-user segment dominated the industry. The three main causes of segment growth are rising cyber threat risks, data breaches, and cloud adoption by large businesses. Another factor driving major businesses to adopt various data protection and recovery solutions is the requirement to comply with the ever-changing data protection rules and guidelines. Large businesses also take on a lot of strategic initiatives, from acquisitions and regional distribution to technology collaboration. The market for DPaaS is being driven by the high volume of data shared among businesses and the need to manage and maintain an efficient flow of data with adequate backup. Over the forecast period, the Small and Medium Enterprises (SMEs) segment is expected to post a significant CAGR. The main element contributing to the category growth is SMEs' increasing usage of cloud-based solutions. Due to the lack of high computing on-premise IT infrastructure for sharing and storing data, SMEs prefer to implement cost-effective deployment solutions. Additionally, the requirement for effective backup services, long-term data preservation, and the rising risk of data theft all contribute to SMEs adopting the market.
Global Data Protection As A Service Market By Type
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Data Protection As A Service Market Regional Insights
In 2021, the North American area held more than 42% of the global market share. One reason for the region's expansion is the rise in cyberattacks, as well as the rising costs of cloud-based services and data protection products. Additionally, it is projected that the U.S.'s substantial IT infrastructure, cloud solution providers, and data protection companies would contribute to the increase. Due to increased investment in recovery, backup, and storage solutions as well as stricter data protection laws, the U.S. now holds the highest share in the regional market and is expected to maintain its dominance over the projected period.
Over the projection period, the Asia Pacific region is expected to grow at the highest CAGR of 34.4%. One aspect of regional development is the expanding use of managed services, security measures, and data hosting services. Another element promoting regional growth is the trend toward ongoing digitization transformation. A significant amount of data is kept on the computing infrastructure as a result of the digital transformation. Businesses are rapidly implementing disaster recovery and backup solutions and services to preserve and protect the vital IT infrastructure from power outages, unexpected infrastructure failures, and natural catastrophes.
Global Data Protection As A Service Market By Region
- Largest
- Fastest
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Data Protection As A Service Market Dynamics
Data Protection As A Service Market Driver
- The demand for Data Protection As A Service is being driven by the mobility and flexibility provided by QMS software in solutions like document control and non-conformances issue resolution. Due to the inherent scalability and accessibility, cloud-based QMS systems are in greater demand across all industrial sectors. The use of quality management systems (QMS) has grown in the manufacturing, logistics, and transportation industries as a result of stringent rules, ingrained business models, and complicated processes. These legal ramifications are yet another important market-stimulating aspect. The consumer goods and retail sector, which enables the user by supplying high-quality products at an affordable price that achieves customer satisfaction, is what drives demand for QMS.
Data Protection As A Service Market Restraint
- Many open-source suppliers on the market give away a variety of Data Protection As A Service tools and solutions. Due to this, end customers are choosing open-source solutions over purchasing goods from well-known providers. For instance, businesses can use the quality management capability without paying for it thanks to the availability of open-source programs like FlinkISO and Odoo. Additionally, a lot of small businesses, particularly those in developing nations like China and India, do not spend money on pricey on-premises and cloud-based quality management solutions. During the expected period, all of these issues are expected to restrict the growth potential for market participants.
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Data Protection As A Service Market Competitive Landscape
The market for data protection as a service is extremely competitive due to the presence of major data protection, disaster recovery, and cloud storage suppliers, as well as managed service providers. The providers are constantly working to update existing features and create cutting-edge solutions. For instance, Hitachi Vantara LLC, a division of Hitachi Ltd., offered a DPaaS solution in April 2021 to help businesses increase their operating efficiencies. To provide businesses with a full suite of data protection solutions, the system can offer on-demand storage as a service.
Data Protection As A Service Market Top Player’s Company Profiles
- Amazon Web Services, Inc. (US)
- Cisco Systems, Inc. (US)
- Commvault Systems, Inc. (US)
- Dell Inc. (US)
- HP Development Company L.P. (US)
- IBM (US)
- Microsoft (US)
- NetApp, Inc. (US)
- Oracle (US)
- Quantum Corporation (US)
- Acronis International GmbH (Switzerland)
- Carbonite, Inc. (US)
- Veeam Software (Switzerland)
- Barracuda Networks, Inc. (US)
- Druva Inc. (US)
- Zerto Ltd. (US)
- SonicWall Inc. (US)
- Infrascale, Inc. (US)
- Actifio Inc. (US)
- Datto, Inc. (US)
- Cloudian, Inc. (US)
- Iron Mountain Incorporated (US)
Data Protection As A Service Market Recent Development
- In February 2021, The Hitachi Virtual Storage Platform (VSP) E990 was made available by Hitachi Vantara. This is the new storage platform the supplier is offering to medium business clients. Business applications are accelerated by the low latency of the E990, while data deduplication assures lower storage costs. Additionally, Hitachi Vantara debuted Data Protection as a Service (DPaaS) and enhanced Storage as a Service features in 2021. (STaaS). To provide quick implementation, clear consumption-based pricing, and guaranteed service levels, the as-a-service products are pre-engineered and offered as fully managed services.
- In March 2021, The Auwau Cloutility software platform can now be integrated with both IBM Spectrum Protect and IBM Spectrum Protect Plus to provide data protection as a service. It can protect the data in their enterprise and provide data protection to enterprises around the world. Cloutility can transform your IT infrastructure into a utility-based consumption model that automates the business processes used for data protection, including everything from system setup to automatic billing.
Data Protection As A Service Key Market Trends
- Public cloud services have long promised businesses a wide range of advantages, but some businesses have always been hesitant due to concerns about data security, compliance, and privacy. According to a recent study commissioned by HPE, these three problems were the main reasons workloads were deemed unsuitable for the public cloud. The landscape is shifting as hybrid cloud usage increases because it gives businesses the best of on-premises, private, and public cloud environments. The number of organizations choosing vendor-agnostic models, which help them spread out the risks of data breaches and security lapses, has increased significantly. The hub of this transformation is the hybrid cloud. Although strategies like those might make data protection more difficult, they also make information security more beneficial.
- 58% of businesses employ hybrid cloud data protection solutions for disaster recovery, according to the Evaluator Group. Data management with hybrid clouds presents several challenges that make data protection more challenging. In the data center, simultaneously physical and digital asset protection is still a crucial requirement. Data and virtual assets protection is also becoming more popular. Businesses have many benefits to adopting hybrid cloud disaster recovery, including the removal of the need for a secondary disaster recovery site. In addition, the hybrid cloud lessens the difficulties and costs associated with system management and maintenance. The development of hybrid cloud-based data protection solutions is due to all of these issues.
Data Protection As A Service Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to the analysis, the Storage as a Service (STaaS) segment dominated the global Data Protection as a Service Market in 2021 and is expected to maintain its dominance throughout the forecast period. In 2021, North America dominated the global Data Protection as a Service Market owing to the region's highly aware and economically stable population.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 14.8 billion |
| Market size value in 2031 | USD 177.62 billion |
| Growth Rate | 31.80% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Data Protection As A Service Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Data Protection As A Service Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Data Protection As A Service Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Data Protection As A Service Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Data Protection As A Service Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Data Protection As A Service Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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