Data Protection as a Service Market to Record a Healthy CAGR of 29.1% during 2019-2027: Amazon Web Services, Inc., Commvault, Carbonite, Inc, EMC Corporation

According to the new research report published by The Insight Partners, titled "Data Protection as a Service (DPaaS) Market - Global Analysis and Forecast to 2027", the global data protection as a service market is expected to reach US$ 94.3 Bn in 2027, registering a CAGR of 29.1% during the forecast period 2019-2027.

In 2018, North America was estimated to account to hold the largest market share, growing at a CAGR of 26.7%.

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The data protection as a service market is majorly driven by an increasing number of cyber-attacks and adoption of security solutions, increasing demand for secure transaction in the BFSI sector, and others. Other factors responsible for boosting the business growth of DPaaS market is the integration of AI and other advanced technologies for alerting and pattern-based monitoring. The rapidly changing nature of businesses requires consistent changes in technology and services. Also, the rapid digitalization among SMEs is expected to provide substantial growth opportunity to the key players in this market. A large number of start-ups have been entering the marketplace with their innovative DPaaS by integrating artificial intelligence and other advanced technology into them.

In North America, the US-led data protection as a service market. The US is the most significant economy in the world, and one of the most important economy as well. The economy is also a step ahead when it comes to adoption of new technologies as well as the adoption of advanced solutions is quite high. Factors such as growing digitization of business processes and rising demand of advanced data protection services among enterprises to ensure efficient and risk-free business operations are contributing substantially towards the growth of DPaaS market in the country.

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The List of Companies

Acronis International GmbH
Amazon Web Services, Inc.
Commvault
Carbonite, Inc
EMC Corporation
Hewlett Packard Enterprise Development LP
IBM Corporation
McAfee, LLC
Quantum Corporation
VMware, Inc.

In the Asia Pacific, China led data protection as a service market. China being an industrial and technology hub, attracts several cybercriminals. This is where DPaaS play a vital role in this region. Huge population, presence of e-commerce giants, growing services sector, and rising demand for smart business solutions offers a suitable environment for the adoption of DPaaS in China. China is transitioning from its image of being a low-cost labor country by investing heavily in digital transformation to acquire a dominant position in the global technology market landscape. Also, the Cyber Security Law of China, also known as the China Internet Security Law, aims to increase cybersecurity, national security, and safeguard cyberspace sovereignty, among other aspects. This law serves as a "Basic Law" in the cybersecurity space.

Key findings of the study:

APAC is the fastest-growing region in data protection as a service market. Earlier, cybercrimes in APAC have been growing at a substantial rate owing to penetration of connected devices, digitization of essential services, investments in the ICT sector, business process automation, and other related developments. In addition, the region is becoming a new target of cybercriminals. In 2017, it was found that nearly 50% of the companies that face data breaches and security threats were SMEs. All the above-mentioned factors drive the growth of the DPaaS market in this region. This has resulted in higher demand for DPaaS in the region.

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The demand for DPaaS is primarily influenced by numerous economic and non-economic factors. The BFSI, Government, and healthcare sector present a larger demand as compared to other sectors during the forecast period. Potentially, Backup as a Service (BaaS) by service type in 2018 led the data protection as a service market whereas; Disaster Recovery as a Service (DRaaS) is expected to be the fastest-growing application during the forecast period 2019-2027 growing at a high CAGR value.

GLOBAL DATA PROTECTION AS A SERVICE MARKET SEGMENTATION

Global Data Protection as a Service Market - By Deployment
o Private Cloud
o Public Cloud
o Hybrid Cloud

Global Data Protection as a Service Market - By Organization Size
o Small & Medium Enterprises
o Large Enterprises

Global Data Protection as a Service Market - By Service Type
o Backup as a Service (BaaS)
o Disaster Recovery as a Service (DRaaS)
o Storage as a Service (STaaS)

Pune, india

About Us:
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 specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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