Status : Published Published On : Jul, 2021 Report Code : VRICT5051 Industry : ICT & Media Available Format : Page : 183
2022
2030

Global Data Protection as a Service (DPaaS) Market – Analysis and Forecast (2021-2027)
Industry Insights by Service Type (Backup as a Service (BaaS), Disaster Recovery as a Service (DRaaS) and Storage as a Service (STaaS)), by Deployment Type (Public Cloud, Private Cloud and Hybrid Cloud), by Organization Size (Small and Medium Enterprises a Large Enterprises), by End User (Telecom & IT, Retail, Manufacturing, Government & Public Sector, BFSI, Healthcare, Energy & Utilities and Others)

Industry Overview

The market for data protection as a service (DPaaS) is expected to develop at a CAGR of around 26.8% between 2022 and 2030, to reach $86.15 billion by 2030 from $11.85 billion in 2021. A cloud-based web delivery service called DPaaS is intended to safeguard the data of commercial companies. Many commercial organizations use DPaaS to enhance network security and sophisticated data security for data in transit and data at rest.

Data Protection as a Service (DPaaS) Market Highlights

The rise in demand for software-defined data centers and virtualized infrastructure components to deliver services, along with the advent of cloud computing, has increased the need for data protection in today's business environment. The adoption of data protection as a service is crucial and is further boosting market growth because the growing acceptance of the internet of things has opened the door for more cybercrimes. The surging demand for backups and archives, cloud-based disaster recovery, and backup for virtual machines are all factors driving the market for data protection as a service (DPaaS). These factors are also driving enterprise digitalization, improving IT infrastructure, and extensive research and development activities.

Company continuity in the wake of the COVID-19 outburst will be dependent on technology, including IT resilience, the demand for remote workforces, and the necessity to reinvent business models. As a result, there is a high demand for an edge-to-cloud platform as a service that promotes data security, recovery, and backup, fueling the expansion of the DPaaS market.

Market Segmentation

Insight by Service Type

Based on service type, the market is categorized into backup as a service (BaaS), storage as a service, and disaster recovery as a service (DRaaS). Due to the increasing demand for data security and privacy across all data centers, as well as the resulting development in benefits provided by DRaaS to various business organizations, it is predicted that the demand for DRaaS would have the highest growth among these categories throughout the projection period. Due to the necessity for remote hardware infrastructure and an increase in the need for recovery solutions among employees, the COVID-19 pandemic has raised the demand for DRaaS solutions. Thus, the development of the global DPaaS market is being greatly aided by this category.

Insight by Deployment Type

The global DPaaS market is divided into private, public, and hybrid clouds, depending on the type of deployment. The hybrid cloud category is anticipated to experience the quickest growth among all of these categories during the forecast period, as it is projected to offer a flexible and practical platform to enable cost-effective workload management and more concern for security and privacy. Moreover, SMEs are rapidly adopting the hybrid cloud model to support effective and efficient business operations.

Insight by Organization Size

The global DPaaS market is divided into small and medium-sized businesses and large businesses, based on the size of the organization. Small and medium-sized businesses are expected to grow more quickly throughout the projection period. A key driver for the expansion of this market is the SMEs' growing usage of cloud-based solutions. Because they lack a high-compute local IT infrastructure to share and store data, small and medium-sized organizations favor cost-effective deployment alternatives. Further, SMEs focusing to enter this industry are increasing the threat of data theft, the requirement for long-term data preservation, and the demand for effective backup services.

Insight by End User

The global DPaaS market is categorized into the following end-user categories: telecom & IT, energy & utilities, manufacturing, BFSI, retail, government & public sector, healthcare, and others. Since there is a high requirement for security, data backup, and compliance, the telecom & IT category is predicted to experience the quickest growth throughout the forecast period. As a result, the adoption of DPaaS in the telecom and IT sector enables businesses to access data quickly and securely while also enhancing scalability.

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Report Metric

Details

Historical Period

2018–2021

Base Year Considered

2021

Forecast Period

2022 - 2030

Market Size in 2021

$11.85 Billion

Revenue Forecast in 2030

$86.15 Billion

Growth Rate

CAGR 26.8%

Segments Covered in the Report

By Service Type, By Deployment Type, By Organization Size, By End-User

Report Scope

Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling

Regions Covered in the Report

North America, Europe, Asia-Pacific, Middle East, and the Rest of the World

 

Industry Dynamics

Industry Trends

The majority of large, small, and medium-sized businesses are utilizing DPaaS is a key trend in the market. Data protection is now necessary for every area of the business model, as a result of the growing adoption of the internet of things. Additionally, there are several services that the providers of data security as a service offer, taking into account the various needs of corporate businesses in the current environment. Additionally, the providers of VPN technology work closely with the businesses that currently provide this service, and some of them have begun to direct more of their resources into it.

Growth Drivers

The main drivers of the growth of the DPaaS market globally are the rising demand for better technologies, rising demand for cloud services, greater deployment of data centers, and surging threats of cybercrimes. It has been noted that as technological trends change, there is an increasing need for security standards that take into account improvised technology. DPaaS technologies are also in extremely high demand because of the growing popularity of the internet of things, which makes data centers and cloud services more useful for a variety of commercial enterprises. 

Challenges

The only significant obstacle to the expansion of the DPaaS market is the emergence of new and diverse types of cyber threats. Another factor that is impeding the growth of the market globally is the high initial expenditures associated with setting up this platform for various corporate organizations.

Industry Ecosystem

Industry participants are exploiting market expansion on a global scale by creating cutting-edge DPaaS solutions. Vendors of technology provide users with a range of services, including cutting-edge technology for safeguarding and protecting their data from cyberattacks and fostering effective corporate operations. The primary reasons driving the global DPaaS market also include intensive cloud computing research and development as well as an increase in data deployment through the public cloud.

Geographic Overview

Due to the rising advancements made in the internet of things compared to other technologies, the DPaaS market in North America is predicted to earn the greatest revenue throughout the estimated time, geographically. Other significant factors contributing to the growth of the DPaaS market in this area include the expanding IT and cloud computing sectors.

On the other hand, the APAC market is predicted to increase at the quickest rate over the projection period, due to the region's rising government spending on cloud services. Other factors influencing the expansion of the DPaaS market in this region include the rising popularity of cloud computing and the expansion of data center deployments.

Recent Development by Key Players

In April 2020, Hitachi Vantara introduced the Hitachi Virtual Storage Platform (VSP) E990 platform for midsize corporate users. However, it is the largest platform of Hitachi Vantra which enhances enterprise applications, and data backup lowers processing costs.

The results of Nutanix, Inc.'s second global Enterprise Cloud Index survey and research study, which assesses how well enterprises are using private, hybrid, and public clouds, were released in November 2019. According to the survey, businesses want to swiftly shift their spending to hybrid cloud architectures in the next years. Organizations have stated consistent, sizable intents for hybrid adoption.

Competitive Insight

To give users a platform that enables them to share secure and safe transfer of data, major companies in the DPaaS market are investing in enhancing the quality of services and creating cutting-edge technologies that are improving their market position. In order to expand their portfolios and better meet the demands of a sizable consumer base, local players have also been seen to engage in mergers and acquisitions. Some of the key players in the market include Acronis International GmbH, Commvault Systems Inc., Hewlett Packard Enterprise Company, Carbonite Inc., Veritas Technologies, International Business Machines Corporation, and Quantum Corporation.

Data Protection as a Service Market Size and Market Analysis Source: Vinz Research

 

The Data Protection as a Service (DPaaS) Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2022–2030.

Segments Covered in the Report

  • By Service Type
    • Backup as a Service (BaaS)
    • Disaster Recovery as a Service (DRaaS)
    • Storage as a Service (STaaS)
  • By Deployment Type
    • Public Cloud
    • Private Cloud
    • Hybrid Cloud
  • By Organization Size
    • Small and Medium Enterprises
    • Large Enterprises
  • By End-User
    • Telecom & IT
    • Retail
    • Manufacturing
    • Government and Public Sector
    • BFSI
    • Energy and Utilities
    • Others

Region Covered in the Report

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia-Pacific (APAC)
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • Rest of the World (RoW)
    • Brazil
    • Saudi Arabia
    • South Africa
    • U.A.E.
    • Other Countries

Frequently Asked Questions

Globally, industry players are leveraging market growth through the development of innovative DPaaS solutions.
Rising demand for better technologies, increased deployment of data centers, increasing wants of cloud services and increasing threats of cyber-crime are the key factors that are pertaining towards the growth of the DPaaS market globally.
Some of the key players in DPaaS market include Commvault Systems, Inc., Acronis International GmbH, Carbonite, Inc., International Business Machines Corporation, Veritas Technologies, Hewlett Packard Enterprise Company, and Quantum Corporation.
The data protection as a service is majorly being adopted by both large and small and medium business enterprises. This is due to increasing adoption of internet of things that the requirement of data protection has become a must in every segment of the business model.
Based upon service type, the DPaaS market across the globe is segmented into backup as a service (BaaS), disaster recovery as a service (DRaaS) and storage as a service (STaaS).

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Research Methodology

  •  Desk Research / Pilot Interviews
  •  Build Market Size Model
  •  Research and Analysis
  •  Final Deliverabvle

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