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Data Protection as a Service Market Economic Forecasting By 2027 | Acronis International GmbH, Amazon Web Services, Commvault, Carbonite, EMC Corporation, Hewlett Packard Enterprise Development LP, IBM Corporation, McAfee, Quantum Corporation, VMware
Data Protection as a Service Market Study 2020
The global data protection as a service market by type is segmented into private cloud, public cloud, and hybrid cloud. Public cloud segment dominates the data protection as a service market heavily and is projected to continue its dominance throughout the forecast period from 2019 - 2027. Public cloud models are generally preferred by SME's as the capital investment for this model is very less as compared to the private cloud model.
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The global data protection as a service market accounted to US$ 9.55 Bn in 2018 and is expected to grow at a CAGR of 29.1% during the forecast period 2019 - 2027, to account to US$ 94.3 Bn by 2027.
The organizations require to operate and manage the data effectively. Therefore, organizations are enhancing their hosted services for improved benefits such as efficient management, higher scalability, and recovery options. With continuous evolution, organizations are adopting cloud-based data protection services to manage and recover the data as needed. This is expected to provide huge opportunities to the companies providing this systems and thus, positively impacting the data protection as a service market.
With the increasing size and scope of privacy breaches, there is a shift towards broadening enforcement powers and sanctions for data protection. With the implementation of data protection law, improvements in penalties as stipulated in the EU General Data Protection Regulation, will be implemented in a country such as Australia, Japan, and Hong Kong (China). This factor is subsequently anticipated to encourage the data protection as a service market growth during the forecast period.
GLOBAL DATA PROTECTION AS A SERVICE MARKET SEGMENTATION
Global Data Protection as a Service Market - By Deployment
Private Cloud
Public Cloud
Hybrid Cloud
Global Data Protection as a Service Market - By Organization Size
Small & Medium Enterprises
Large Enterprises
Global Data Protection as a Service Market - By Service Type
Backup as a Service (BaaS)
Disaster Recovery as a Service (DRaaS)
Storage as a Service (STaaS)
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The data protection as a service market by application is further segmented into Backup as a Service, Disaster Recovery as a Service, and Storage as a Service. Backup as a Service segment of the data protection as a service market dominated the end user segment and is expected to lose its dominance in the market throughout the forecast period to Storage as a Service. BaaS is not subjected to the threat of hackers, user error, and natural disasters. Moreover, the data stored in the BaaS is encrypted. Due to this reason, backup as a service is holds a highest market share.
Major highlights of the report:
oAn all-inclusive evaluation of the parent market
oThe evolution of significant market aspects
oIndustry-wide investigation of market segments
oAssessment of the market value and volume in the past, present, and forecast years
oMarket share evaluation
oStudy of niche industrial sectors
oTactical approaches of the market leaders
oLucrative strategies to help companies strengthen their position in the market.
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.
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