Data Protection as a Service (DPaaS) Market t to CAGR Exponential Growth 27.2% | Worldwide Value by 2030 to be at $170.54 Billion

According to a new report published by Allied Market Research, titled, "Data Protection as a Service (DPaaS) Market," The data protection as a service market size was valued at $15.49 billion in 2020, and is estimated to reach $170.54 billion by 2030, growing at a CAGR of 27.2% from 2021 to 2030. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenario.

The advent of cloud computing and software-defined data centers with virtualized infrastructure components delivered as a service has fostered the need for data protection in the present business scenario. Increase in need for data protection among cloud service providers has led to the introduction of Data Protection as a Service Market. DPaaS is a cloud-based, web-delivered service designed to safeguard data assets of businesses.

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Growing concerns regarding data loss, increase in need for data backups and archives, and governance, risk, and compliance requirements for storage have augmented the growth of the global data protection as a service (DPaaS) market. However, high incurrence of cost and complexity in cloud DPaaS deployment hamper the growth to certain extent. Moreover, increase in demand for cloud-based disaster recovery & backup for virtual machines and integration of backup services and recovery would create a number of opportunities in the near future.

In 2020, on the basis of service, the STaaS segment dominated the Data Protection as a Service Industry in 2020, and is expected to maintain its dominance in the upcoming years. This is attributed to the cost-effectiveness of STaaS and no initial costs required for deploying hard drives, servers, and IT technicians. The provision of long-term data storage and business stability is a major growth factor for the overall Data Protection as a Service Market.

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By deployment, the private segment dominated the growth in the Data Protection as a Service Market Share in 2020, and is expected to maintain its dominance in the upcoming years. Private cloud provides improved security, greater server control, and enhanced flexibility. Further, private cloud is deployed and customized according to the preferences of users. However, hybrid segment registered highest growth rate during Data Protection as a Service Market forecasted period.

Some of the key DPaaS industry players profiled in the report include IBM Corporation, Amazon Web Services, Inc., HP Development Company, L.P., Commvault Systems, Inc., EMC Corporation, VMware, Inc., Quantum Corporation, Asigra, Inc., Veritas Technologies, and Cisco Systems. This study includes market trends, Data Protection as a Service Market Analysis, and future estimations to determine the imminent investment pockets.

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Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the data protection as a service (dpaas) market analysis from 2020 to 2030 to identify the prevailing data protection as a service (dpaas) market opportunities.

• The market research is offered along with information related to key drivers, restraints, and opportunities.

• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.

• In-depth analysis of the data protection as a service (dpaas) market segmentation assists to determine the prevailing market opportunities.

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