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Data Protection As A Service (DPaaS) Industry Outlook 2025-2029: Market Set to Cross $102.98 Billion Milestone
Data Protection As A Service (DPaaS)
How Large Will the Data Protection As A Service (DPaaS) Market Size By 2025?
In recent years, there has been a significant expansion in the data protection as a service (DPaaS) market size. The market, which is set to increase from $31.99 billion in 2024 to $38.81 billion in 2025, is projected to experience a compound annual growth rate (CAGR) of 21.3%. The growth observed in the previous period is largely due to a rise in data breaches and cyber threats, stringent data protection laws, growing awareness of data privacy issues, the spread of cloud computing, and an increase in the remote and mobile workforce.
How Big Is the Data Protection As A Service (DPaaS) Market Size Expected to Grow by 2029?
In the coming years, the data protection as a service (DPaaS) market is projected to witness significantly accelerated growth, reaching a size of $102.98 billion in 2029 with a compound annual growth rate (CAGR) of 27.6%. Factors contributing to this growth during the prediction period include escalating data volumes and diversity, changing hybrid and multi-cloud settings, shift towards zero trust security standards, and a focus on data resilience and recovery. Key trends anticipated during this period encompass cross-sector cooperation for threat intelligence, a move towards data-focused security, expanded adoption of multi-cloud environments, requirements for data sovereignty, and localization, and convergence of data protection with cybersecurity measures.
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Which Key Market Drivers Powering Data Protection As A Service (DPaaS) Market Expansion and Growth?
Rising worries about data security and data loss are triggering increased demand in the Data Protection as a Service (DPaaS) market. Data loss can be attributed to internal problems such as system failures or external threats like cyber-attacks. Lately, organizations worldwide have become increasingly aware of data security due to occurrences of data leakage and loss. For example, Hitachi Vantara, a US-based tech company, reported in June 2024 a significant surge in cyber-attacks. According to them, there were 2,365 breaches in the US in 2023 that affected 343.3 million victims-a shocking rise of 72% since 2021. This has positioned companies to profoundly reconsider their preparedness for data security. With 69% of IT leaders expressing concerns over their capability to promptly detect breaches and 22% admitting that essential data remains unbacked, there is an accelerating demand for DPaaS solutions to tackle these critical challenges.
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Which Fast-Growing Trends Are Poised to Disrupt the Data Protection As A Service (DPaaS) Market?
Emerging innovations such as the amalgamation of interconnected gadgets with the internet of things (IoT) and virtual private network (VPN) are molding the data protection as a service (DPaaS) market landscape. For example, in June 2023, Thales, a multinational firm that constructs and develops electrical systems, introduced the CipherTrust Data Security Platform. This platform bolsters data protection by offering an array of security attributes including data encryption, access management, and compliance control, enabling businesses to effectively protect confidential data across diverse environments.
What Are the Emerging Segments in the Data Protection As A Service (DPaaS) Market?
The data protection as a service (DPaaS) market covered in this report is segmented -
1) By Service Type: Disaster Recovery As A Service, Backup As A Service, Storage As A Service
2) By Enterprise Size: Large Enterprise, SMEs
3) By Deployment Mode: Public Cloud, Private Cloud, Hybrid Cloud
4) By Industry: Banking, Financial Services And Insurance (BFSI), Telecom And IT, Government And Public Sector, HealTH*Care, Retail, Energy And Utilities, Manufacturing, Other Industries
Subsegments:
1) By Disaster Recovery As A Service (DRaaS): Cloud-Based Disaster Recovery, On-Premises Disaster Recovery Solutions
2) By Backup As A Service (BaaS): Cloud Backup Solutions, Hybrid Backup Solutions, Local Backup Solutions
3) By Storage As A Service (STaaS): Object Storage Services, Block Storage Services, File Storage Services
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Who Are the Global Leaders in the Data Protection As A Service (DPaaS) Market?
Major companies operating in the data protection as a service (DPaaS) market include IBM Corporation, Amazon. com Inc., Hewlett-Packard Development Company LP, Commvault Systems, VMware Software Private Limited, Quantum Corporation, veeam Software, Dell Inc., Veritas Technologies, Quest Software Inc., NxtGen Datacenter & Cloud Technologies Pvt. Ltd., Hitachi Vantara Corporation, Atos SE, Oracle Corporation, McAfee Croporation, NetApp Inc., Acronis International GmbH, Cisco Systems Inc., Carbonite Inc., Druva Software Inc., Barracuda Networks Inc., Zerto Ltd., Unitrends Inc., Arcserve LLC, Backupify, CloudAlly Ltd., Datto Inc., Infrascale Inc., Rubrik Inc., Spanning Cloud Apps LLC, StorageCraft Technology Corporation
Which are the Top Profitable Regional Markets for the Data Protection As A Service (DPaaS) Industry?
North America was the largest region in the data protection as a service (DPaaS) market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the data protection as a service (DPaas) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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