The Market for Data Protection-as-a-Service (DPaaS) is Anticipated to grow at a Value Compound Annual Growth Rate of 29.2% by 2032

The global data protection as a service (DPaaS) market is anticipated to increase from US$ 28.0 billion to US$ 361.5 billion from 2022 to 2032, at a CAGR of 29.2%, according to a study by Persistence Market Research. The market has grown by $333,5 billion overall. DPaaS helps companies get over these data protection challenges by offering reasonably cost cloud services. Using a single interface to manage many services is made simpler by the DPaaS multi-tenant concept.

Data protection as a service deploys quickly and offers several virtual machine capacities for each server. In recent years, the overall evolution of product-based solutions has undergone a significant change. The IT infrastructure industry has been impacted by these products. The businesses in the industry are increasingly implementing service models to provide business outcomes to both their customers and providers.

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Moreover, the growing stringency in regulations and standards, such as the GDPR policy and Data Protection Act, continues to put more obligations on enterprises to comply. As a result, it builds more pressure on the enterprises to carry out regular checks and focus on their compliance framework to evidence their accountability. Besides, the advent of cloud computing and software-defined data centers with virtualized infrastructure components are expected to further fuel growth prospects.

Key Takeaways
• Private Cloud is expected to grow at a high rate in the deployment model type of the Data Protection as a Service (DPaaS) Market, with a CAGR of 29.5% during the forecast period.
• The Data Protection as a Service (DPaaS) Market in the US is expected to be worth US$ 72.5 billion by 2032, with a CAGR of 26.8% over the forecast period.
• The market size for Data Protection as a Service (DPaaS) in China is expected to reach $54.1 billion by 2032, growing at a CAGR of 32.8% during the research period.
• Japan is expected to reach a market size of US$ 33.6 billion in the Data Protection as a Service (DPaaS) Market by 2032, with a CAGR of 30.7% during the research period.
• Brazil is expected to have a market size for Data Protection as a Service (DPaaS) of US$ 19.9 billion by 2032, with a CAGR of 28.7% during the research period.
• By 2032, Australasia is expected to reach a market size of US$ 4.4 billion in the Data Protection as a Service (DPaaS) Market, with a CAGR of 34.2% during the research period."The deployment of DPaaS has increased in organizations across the globe, owing to the advantages of better network security and advanced data security, which in turn is expected to propel the market growth," remarks a PMR analyst.

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Competitive Landscape

The global market for Data Protection as a Service (DPaaS) is extremely fragmented, with many major and small enterprises operating at the regional and country levels. Prominent players in the Data Protection as a Service (DPaaS) Market are IBM Corporation, Cisco Inc., Dell Inc., Amazon Web series Inc., Veritas Technologies LLC, HP Development Company, Microsoft, Oracle Corporation, Quantum Corporation, Asgira Inc., among others.

In April 2020, The Hitachi Virtual Storage Platform (VSP) E990 was developed by Hitachi Vantara. This is the latest storage platform for midsize corporate users from the company. Low latency on the E990 enhances enterprise applications, and data backup lowers processing costs.

In November 2019, Nutanix, Inc. had published the results of its second worldwide Enterprise Cloud Index survey & research study, which evaluates how organizations are performing with private, hybrid, and public cloud usage. The report found that firms are aiming to transfer their expenditures to hybrid cloud architectures rapidly in the years ahead, with organizations reporting steady and large hybrid deployment intentions.

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Key Segments Covered in the DPaaS Market Report

DPaaS by Deployment Model
Public Cloud DPaaS
Private Cloud DPaaS
Hybrid Cloud DPaaS

DPaaS by Services
Disaster Recovery as a Service (DRaaS)
Backup as a Service (BaaS)
Storage as a Service (STaaS)

DPaaS by End User
DPaaS for Large Enterprises
DPaaS for Small and Medium Enterprises (SMEs)

By Region
North America DPaaS Market
Latin America DPaaS Market
Europe DPaaS Market
Asia Pacific DPaaS Market
Middle East & Africa DPaaS Market

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Expert analysis, actionable insights, and strategic recommendations - the Electronics, Semiconductor, and ICT team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, and ICT, of which, 100+ reports are specific for ICT, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductor, and ICT industry.

This release was published on openPR.