Data Protection As A Service Market Size Predicted to Increase at a Positive CAGR | IBM Corporation, Amazon Web Services, Inc., Quantum Corporation

The global data protection as a service (DPaaS) market was US$ 11.79 billion in 2020. The global data protection as a service (DPaaS) is forecast to reach the value of US$ 162.15 billion by 2030 by growing at a compound annual growth rate (CAGR) of about 30.2% during the forecast period from 2021-2030. Data Protection as a service (DPaaS) is a cloud-based web delivery service that helps preserve business data with excellent security features.

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COVID-19 Impact Analysis

The wake of the COVID-19 pandemic fueled the adoption of technology. Businesses began depending on technology to enable remote workforces. The demand for cloud platforms suddenly raised. Thus, it increased the necessity of data security services, backup, and recovery, etc. As a result of the changing era, the global data protection as a service market may grow incredibly fast.

The cybercrime cases suddenly grew during the pandemic. It mandated the demand for measures to save data from fraudulent activities. As a result, the market grew significantly during the pandemic period.

Factors Influencing

Small, medium and large enterprises use DPaaS to protect the data. In the growing era of cloud computing, reliability on the internet has surged the demand for data protection. Moreover, sensitive data can lead to harm if it gets hacked. Thus, the companies adopt DPaaS to enhance the security of the data. The market is forecast to grow rapidly with the growing use of the internet.
The different demands of the business enterprises can present significant opportunities for the market players thriving in the global data protection as a service (DPaaS) market. Moreover, the events of partnership may result in significant growth in the coming years.
The growing advancements and the deployment of data centers may create favorable opportunities for market growth.
The global data protection as a service (DPaaS) industry is forecast to gain traction, owing to the increasing cases of cyber threats globally.
High initial costs associated with this platform may negatively impact the growth of the global DPaaS market.

Geographic Analysis

Geographically, the global data protection as a service (DPaaS) market is growing rapidly in North America. The market is forecast to witness notable growth by recording the highest revenue during the estimated period. It is due to the booming growth of the I.T domain and cloud-based computing.

The Asia-Pacific is forecast to lead with the second-highest revenue generation. It is due to the increasing adoption of cloud-based computing. As the demand for cloud-based computing would increases, the demand for data protection services would also increase. As a result, the global market for data protection as a service (DPaaS) would expand in the Asia Pacific region.

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Market Segmentation

By Deployment Model

Public cloud
Private cloud
Hybrid cloud

By End-User

Large Enterprise
Small and Medium Enterprises

By Service Type

DRAAS
BAAS
STAAS

By Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe

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Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America

Competitors in the Market

IBM Corporation
Amazon Web Services, Inc.
Hewlett-Packard Development Company, L.P.
Commvault Systems, Inc.
EMC Corporation
VMWARE, Inc.
Quantum Corporation
Asigra, Inc.
Veritas Technologies
Cisco Systems
Other Prominent Players

What is the goal of the report?

-The market report presents the estimated size of the ICT market at the end of the forecast -period.

-The report also examines historical and current market sizes.

-During the forecast period, the report analyzes the growth rate, market size, and market valuation.

-The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.

-The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.

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