Global Data Protection as a Service Market

Data Protection as a Service Market Size, Share, Growth Analysis, By Service Type (Disaster Recovery as a Service, Backup as a Service), By Deployment (Public Cloud, Private Cloud), By End-use (SMEs, Large Enterprises), 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.

$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

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).

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. '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)'

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.

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.

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.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Global Data Protection as a Service Market

Report ID: SQMIG45C2055

$5,300
BUY NOW GET FREE SAMPLE