Data protection as a service (DPaaS) helps the user in viewing safe and secure data for their business enterprise by delivering cloud assisted and web-delivered services. Business organizations are utilizing this service in order to enhance network security and to form improved security services for organizational data in transit and data at pause.
Furthermore, increasing dependence on internet of things and the increasing deployment of data centers and cloud-based technologies have made DPaaS an essential service to be adopted to keep the data secure. Moreover, increasing acceptance of Internet of Things has paved a way for more cybercrimes to take place, thus the adoption of data protection as a service is crucial that is further enhancing the growth of DPaaS market across the globe.
Insight by Service Type
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). Among these segments, DRaaS is expected to witness the fastest growth during the forecast period due to increasing benefits provided by DRaaS to several business organizations. This model enables companies to protect their data against fire, theft and human mistakes.
Furthermore, this system enables companies to perform business operations on various applications and the companies are able to meet additional costs in gaining efficiency in business operations. This segment is thereby significantly bolstering the growth of the DPaaS market, globally.
Insight by Deployment Type
There is three deployment type in DPaaS market that includes, public cloud, private cloud and hybrid cloud. Among all these segments, hybrid cloud is anticipated to witness the fastest growth during the forecast period since hybrid cloud is anticipated to gain a flexible and comfortable platform that ensures the cost-effective management of workload. These clouds are gaining ample popularity in small and medium enterprises that ensures smooth and effective functioning of business organizations.
Insight by Organization Size
On the basis of organization size, the DPaaS market is segmented into small and medium enterprises and large enterprises. Among these two segments, small and medium enterprises are expected to witness faster growth during the forecast period. The adoption of DPaaS helps the enterprises in reducing costs by reducing the requirement for large infrastructures.
Insight by End User
Based upon end user, the DPaaS market is categorized into telecom & IT, retail, manufacturing, government & public sector, BFSI, healthcare, energy & utilities and others. Among all these segments, telecom & IT domain is anticipated to witness the fastest growth during the forecast period. It has been observed that there are increasing requirements for data backup, security and compliance that increases burden upon IT domain and increases its costs. The use of DPaaS in telecom and IT domain thus help the companies to access data with high performance, increasing scalability and security of data.
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. These are the key trends observed in the DPaaS market across the globe. Furthermore, with different requirements of business enterprises in the present scenario, there are different kinds of service that is being offered by the vendors of data protection as a service.
Furthermore, the vendors of VPN technology are collaborating with the companies, which are already into this service, and some of them have started to shift their resources towards this segment of service.
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. It has been observed that evolving technological trends there has been a growing demand for security requirements according to the improvised technology. Furthermore, with the increasing adoption of internet of things, there is a very huge demand and growth for the DPaaS technologies that eventually makes the data centers and cloud services more effective for various business organizations.
New and different kinds of cyber threats are the only major challenge for the growth of DPaaS market. High initial costs involved in the set of this platform for various business organizations is another factor that is hampering the growth of the DPaaS market worldwide.
Globally, industry players are leveraging market growth through the development of innovative DPaaS solutions. The vendors for the technology are providing various solutions to users such as advanced technology for securing and protecting their data from cyber-attack and creating efficient business functioning. Furthermore, extensive research and development in cloud computing and increasing deployment of data through the public cloud are the key factors driving DPaaS market globally.
Geographically, DPaaS market in North America is anticipated to generate the largest revenue throughout the estimated period due to the increasing advances made in the aspect of internet of things compared to other technologies. The increasing development in the I.T domain and cloud-based computing are the other important factors that attribute towards the growth of DPaaS market in this region.
Moreover, Asia-Pacific is anticipated to witness the fastest growth during the forecast period due to increasing expenditure of government authorities towards cloud services in this region. Furthermore, increasing adoption of cloud-based computing and the increases in the deployments of data centers are other factors pertaining towards the growth of the DPaaS market in this region.
Key players in the DPaaS market are investing in improving the quality of services in order to provide users with a platform that enables them to share secure and safe transmission of data. developing the latest technologies that are strengthening their position in the market. Also, it has been observed that local players are doing mergers and acquisitions in order to enhance their portfolio that further helps in tapping and satisfying demand of large consumer base. 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.