Data Protection as a Service (DPaaS) Market Reach Record of $170.54 Billion by 2030

According to the report published by Allied Market Research, the global data protection as a service (DPaaS) market generated $15.49 billion in 2020, and is projected to reach $170.54 billion by 2030, growing at a CAGR of 27.2% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.

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Rise in concerns about data loss among people and organizations across the globe, surge in need for data backups & archives, and growth in demand for data protection in the current business scenario among cloud service providers are expected to drive the growth of the global data protection as a service market. On the other hand, exorbitant incurrence costs of the service are expected to hamper the growth to some extent. However, an increase in demand for cloud-based disaster recovery and backup is expected to create immense opportunities for the industry.

The report offers a detailed segmentation of the global data protection as a service market based on service type, deployment mode, enterprise size and region.

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Based on enterprise size, the large enterprise segment generated the highest market share in 2020, garnering more than three-fifths of the total market. The SMEs segment, on the other hand, is expected to cite the fastest CAGR of 29.5% during the forecast period.

Based on deployment mode, the public cloud segment held the majority share in 2020, holding more than half of the total data protection as a service industry. The hybrid cloud segment, on the other hand, is expected to exhibit the fastest CAGR of 32.2% during the forecast period.

Based on region, the market across North America held the lion's share in 2020, accounting to two-fifths of the total market. The market across Asia-Pacific, on the other hand, is expected to cite the fastest CAGR of 31.5% during the forecast period.

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The key market players analyzed in the global data protection as a service (DPaaS) market report include L.P., COMMVAULT SYSTEMS, VMWARE INC., QUANTUM CORPORATION, ASIGRA, Inc., IBM Corporation, Amazon Web Services Inc., EMC CORPORATION, VERITAS TECHNOLOGIES, CISCO SYSTEMS, Quantum Corporation.

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