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Status : Published Published On : Jul, 2021 Report Code : VRICT5051 Industry : ICT & Media Available Format : Page : 183
2023
2030

Global Data Protection as a Service (DPaaS) Market – Analysis and Forecast (2023-2030)
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)

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Industry Overview

The global DPaaS market size was valued at USD 11.8 billion in 2022 and is expected to grow at a CAGR of 26.8% from 2023 to 2030. The market is projected to reach USD 86.15 billion by 2030.

Data Protection as a Service (DPaaS) Market Highlights

Data Protection as a Service (DPaaS) is an emerging technology that provides cloud-based backup, recovery, and data management solutions to organizations. With the increasing amount of data generated by organizations, the demand for DPaaS solutions has been on the rise. The DPaaS market is expected to grow at a significant rate in the coming years, driven by the increasing adoption of cloud-based solutions and the need to protect sensitive data from cyber threats. 

Covid-19 Impact:

The Covid-19 pandemic has had a significant impact on the DPaaS market. The pandemic has accelerated the adoption of cloud-based solutions as more organizations shifted to remote work. The need for data protection and recovery solutions also increased as organizations faced new cyber threats such as phishing attacks and ransomware. As a result, the DPaaS market has witnessed a surge in demand in 2020 and is expected to continue its growth trajectory in the coming years.

Market Segment

Insight by Service

According to the service type, the DPaaS market is classified into backup as a service (BaaS), storage as a service, and disaster recovery as a service (DRaaS). The DRaaS segment is expected to exhibit the highest growth rate during the forecast period due to the increasing demand for data security and privacy, as well as the significant benefits it offers to various businesses. Additionally, the COVID-19 pandemic has fueled the demand for DRaaS solutions due to the need for remote hardware infrastructure and the rise in the demand for recovery solutions among employees, further driving the growth of the DPaaS market.

Insight by Deployment

Regarding deployment type, the global DPaaS market is segmented into private, public, and hybrid clouds. The hybrid cloud segment is projected to experience the fastest growth rate due to its ability to provide a flexible and practical platform for cost-effective workload management, as well as enhanced security and privacy. Furthermore, the adoption of the hybrid cloud model is rapidly increasing among small and medium-sized enterprises (SMEs) to support effective and efficient business operations.

Insight by Organisation Size

Based on organization size, the DPaaS market is classified into small and medium-sized businesses and large enterprises. The small and medium-sized business segment is expected to grow at a faster pace during the forecast period due to the increasing usage of cloud-based solutions among SMEs. As these organizations lack a high-compute local IT infrastructure to store and share data, they prefer cost-effective deployment alternatives. Additionally, the increasing threat of data theft, the need for long-term data preservation, and the demand for effective backup services are driving the adoption of DPaaS among SMEs.

Insight by End-user

Based on end-users, the DPaaS market is segmented into telecom & IT, energy & utilities, manufacturing, banking, financial services, and insurance (BFSI), retail, government & public sector, healthcare, and others. The telecom & IT segment is expected to exhibit the fastest growth rate during the forecast period due to the high demand for security, data backup, and compliance. Furthermore, the adoption of DPaaS in the telecom and IT sector enables businesses to access data quickly and securely while also enhancing scalability.

Data Protection as a Service (DPaaS) Market Report Coverage

Report Metric

Details

Historical Period

2018–2022

Base Year Considered

2022

Forecast Period

2023 - 2030

Market Size in 2021

$11.8 Billion

Revenue Forecast in 2030

$86.15 Billion

Growth Rate

CAGR 26.8%

Segments Covered in the Report

By Service, By Deployment, 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

Market Trend

The DPaaS market is witnessing several trends that are shaping the market landscape. The increasing adoption of hybrid cloud solutions, the growing demand for data analytics and artificial intelligence (AI) in data protection, and the emergence of blockchain-based DPaaS solutions are some of the key trends in the market. The adoption of hybrid cloud solutions is driven by the need to balance cost and performance, while the demand for data analytics and AI is driven by the need to analyze and manage large volumes of data. The emergence of blockchain-based DPaaS solutions is driven by the need for enhanced security and privacy.

Cost savings: DPaaS eliminates the need for organizations to invest in and maintain their own data protection infrastructure. This can result in cost savings related to hardware, software, and IT personnel.

Scalability: DPaaS solutions can scale up or down based on the organization's changing data protection requirements. This flexibility allows businesses to align their data protection capabilities with their evolving needs.

Enhanced security: DPaaS providers often implement robust security measures to protect data from unauthorized access, ensuring compliance with data privacy regulations such as the General Data Protection Regulation (GDPR) or the California Consumer Privacy Act (CCPA).

Simplified management: By outsourcing data protection tasks to specialized providers, organizations can focus on their core competencies while leaving the technical aspects of data protection to the experts.

Business continuity: DPaaS solutions typically include disaster recovery capabilities, ensuring that organizations can quickly restore data and resume operations in the event of a data loss or system failure.

Industry Ecosystem

The DPaaS market ecosystem comprises vendors, service providers, and end-users. The vendors in the market offer DPaaS solutions that include backup and recovery, disaster recovery, and archiving solutions. The service providers offer cloud-based services that enable organizations to manage and protect their data. The end-users of DPaaS solutions include small and medium-sized enterprises (SMEs) and large enterprises across various industries such as healthcare, BFSI, and IT and telecom.

Challenges

The DPaaS market also faces several challenges that can hinder its growth. The lack of awareness among organizations about the benefits of cloud-based solutions, the high cost of implementing DPaaS solutions, and the increasing complexity of data protection regulations are some of the key challenges in the market. To overcome these challenges, DPaaS vendors need to focus on educating their customers about the benefits of cloud-based solutions, offer cost-effective solutions, and develop solutions that comply with the latest data protection regulations.

Geographical Overview

In terms of geography, the DPaaS market in North America is expected to generate the highest revenue during the forecast period due to the increasing advancements in the internet of things (IoT) technology in comparison to other technologies. The growth of the IT and cloud computing sectors in the region is also a significant factor contributing to the expansion of the DPaaS market.

Meanwhile, the APAC market is projected to experience the fastest growth rate over the forecast period owing to the region's rising government spending on cloud services. The increasing popularity of cloud computing and the growth of data center deployments are other factors driving the expansion of the DPaaS market in this region. Therefore, the APAC region presents significant opportunities for DPaaS vendors to expand their operations and increase their market share.

Competitive Insight:

The DPaaS market is highly competitive, with several players operating in the market. Some of the key market players include IBM Corporation, Microsoft Corporation, Amazon Web Services, Inc., Dell Technologies, Inc., and Commvault Systems, Inc. These players are focusing on developing innovative solutions that offer enhanced security, scalability, and flexibility to their customers.

The Data Protection as a Service (DPaaS) Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2023–2030.

Segments Covered in the Report

  • By Service
    • Backup as a Service (BaaS)
    • Disaster Recovery as a Service (DRaaS)
    • Storage as a Service (STaaS)
  • By Deployment
    • 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

Data Protection as a Service (DPaaS) Market Size

Source: VynZ Research

Data Protection as a Service (DPaaS) Market Analysis

Source: VynZ Research

Frequently Asked Questions

What are the industry ecosystem of Data Protection as a Service (DPaaS) Market?

Globally, industry players are leveraging market growth through the development of innovative DPaaS solutions.

What are the major growth driver of Data Protection as a Service (DPaaS) Market?

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.

Which are the major companies operating in the Data Protection as a Service (DPaaS) Market?

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.

Which are the major industry trend for Data Protection as a Service (DPaaS) Market?

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.

Which are the major service type for Data Protection as a Service (DPaaS) Market?

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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