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Data Protection as a Service (DPaaS) Market to Garner $28,878 Million: How?

02-11-2019 07:25 PM CET | IT, New Media & Software

Press release from: Allied Market Research

Data Protection as a Service (DPaaS) Market to Garner $28,878

In 2015, private cloud accounted for the maximum revenue share in the overall DPaaS market as it is much safer than the public cloud. In addition, hybrid cloud is expected to witness the fastest growth over the forecast period as many companies plan to make hybrid cloud a crucial part of their IT strategies.

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The global DPaaS market is expected to garner $28,878 million by 2022, registering a CAGR of 31.5% during the period 2016-2022. Private cloud deployment model generated the largest DPaaS market share in 2015 while hybrid cloud sub-segment is expected to register fastest growth during the forecast period 2016-2022. North America is expected to be the largest market over the forecast period.

Increasing data loss concerns, rise in need for backups & archives, and governance, risk & compliance are expected to drive the growth of global data protection as a service market. In addition, increasing demand for cloud-based disaster recovery & backup for virtual machines and integration of backup & recovery services have increased significantly and are expected to provide lucrative opportunities for market growth. However, high costs and complexities in cloud deployment limit the DPaaS market growth.

The STaaS service type dominated the global market in 2015 due to. Furthermore, DRaaS is anticipated to grow at a CAGR of 32.6% during the forecast period owing to increased need to improve data security, protection of data in disaster, and assurance of seamless & continuous business operations.

Large enterprises are the leading end users in the market and are projected to continue their dominance over the forecast period. However, SMEs will witness the fastest growth over the forecast period owing to the increasing number of SMEs across the globe and deployment of cost-effective solutions.

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North America is the most lucrative market as compared to others with diverse industry verticals implementing DPaaS at a greater extent. Furthermore, it is projected to generate the highest market revenue over the forecast period with predominant deployments in the large enterprises. In addition, Asia-Pacific is estimated to grow at the fastest pace owing to heavy investments by the governments into infrastructural activities for effective data protection.

The key players in the global DPaaS market include IBM Corporation, Amazon Web Services, Inc., HP Development Company, L.P., Commvault Systems, Inc., EMC Corporation, VMware, Inc., Quantum Corporation, Asigra, Inc., Veritas Technologies, and Cisco Systems.

Data Protection as a Service (DPaaS) Market: https://www.alliedmarketresearch.com/press-release/data-protection-as-a-service-market.html

About Us:

Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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