What is the Global market size of the Data Protection As A Service Market?

Global Data Protection As A Service Market size was valued at USD 235.16 billion in 2021 and is poised to grow from USD 267.3 billion in 2022 to USD 731.08 billion by 2030, growing at a CAGR of 13.6% in the forecast period (2023-2030).

Who are the key vendors in the Global Data Protection As A Service Market?

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. 'IBM Corporation', 'Amazon Web Services, Inc.', 'HP Inc.', 'EMC Corporation', 'Commvault Systems, Inc.', 'CA Technologies', 'Symantec Corporation', 'Microsoft Corporation', 'Cisco Systems, Inc.', 'Carbonite, Inc.', 'Acronis International GmbH', 'Druva Software', 'NetApp, Inc.', 'Barracuda Networks, Inc.', 'Asigra Inc.', 'Zetta, Inc.', 'Iron Mountain Incorporated', 'Infrascale Inc.', 'Unitrends Inc.', 'Veeam Software AG'

What is the key driver of the Global Data Protection As A Service Market?

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.

What is the key market trend for the Global Data Protection As A Service Market?

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.

Which region accounted for the largest share in the Global Data Protection As A Service Market?

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.

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 2025-2032

Report ID: SQMIG45C2055 | Region: Global | Published Date: October, 2024
Pages: 165 | Tables: 89 | Figures: 76

Data Protection As A Service Market Insights

Data Protection As A Service Market size was valued at USD 19.51 Billion in 2023 and is poised to grow from USD 25.71 Billion in 2024 to USD 234.1 Billion by 2032, growing at a CAGR of 31.80% during the forecast period (2025-2032).

The adoption of data protection as a service (DPaaS) is transforming the way enterprises use data security and compliance. DPaaS offers a scalable and cost-efficient solution for securing confidential and sensitive data because cyberthreats are becoming more advanced. Moreover, DPaaS utilizes cloud-based platforms for delivering robust security measures like encryption, automated backups, and real-time thereat detection. The demand for data protection as a service (DPaaS) is continuously increasing because of the necessity to secure critical infrastructure and growing adoption of cloud computing. The incorporation of technologically advanced software tools, network-based infrastructure, remote monitoring, and control of multiple businesses operating has increased the vulnerabilities of the companies. This is because these organizations have become prone to cyberattacks, which is boosting the growth of data protection as a service market.

Furthermore, the emergence of multiple small & medium scale enterprises in various industries are utilizing computing technology contributing to the rising demand for data protection solutions. In recent times, many government agencies and businesses have experienced many cyberattacks even with robust security solutions and necessary preventive measures. This is increasing the demand for data protection as a service in many organizations. Furthermore, increasing strict data protection regulations like the general data protection regulation (GDPR) policy and the data protection act are boosting the growth of data protection as a service industry.

US Data Protection As A Service Market is poised to grow at a sustainable CAGR for the next forecast year.

Data Protection As A Service Market Report Snapshots

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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).

The data protection as a service industry is experiencing vigorous competition as the threat for cyber-attacks and the need for compliance with regulations are rising. Key factors driving market growth are rapid technological advancements, particularly in cloud solutions, and increased adoption of data protection solutions by businesses of all sizes. Market participants are striving to outdo their competitors by embedding AI and machine learning into their solutions so that predictive analytics and real time abnormal behavior detection are enhanced. The increasingly competitive nature of this market drives innovations where firms are looking for tailored service solutions specific to the industry. '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)'

High Requirement for Robust Data Security Measures: The growing amount of data has created a necessity for strong data security protocols, especially with the rise in cloud service usage by businesses. As cloud capabilities expand, the scope of data security has broadened, leading organizations to seek more advanced tools to safeguard not just data but also applications and proprietary business processes across public and private clouds. This escalating requirement for robust data security measures has fueled the popularity of Data Protection as a Service (DPaaS).

North America is dominating with the largest data protection as a service market share. The growth of the region is driven by early adoption and widespread acceptance of cloud-based technologies. Furthermore, robust ecosystem of cloud services providers and brokerage platforms in countries like the U.S. and Canada is also fueling the market growth. As a result, the region's stringent regulatory standards have increased the requirement for strong data protection mechanisms therefore contributing to the growth of the market. For instance, in the US, the health insurance portability and accountability act (HIPAA) and California consumer privacy act (CCPA) protect personal information and privacy of the consumer. The region's growth driver is the robust IT ecosystem and global leader in cloud adoption. The market in this region has been boosted by the presence of Amazon Web Services, Microsoft, IBM, Oracle in the US as these companies offer various DPaaS solutions.

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Data Protection As A Service Market Insights

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What is the global market size of Data Protection As A Service Market?

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