Market Snapshot:
With the growing stringent regulations and Increasing cybersecurity threats, rising adoption of hybrid cloud solution are driving the Global Data protection as a service. DPaaS (Data protection as a Service) is a cloud-based service for backup, recovery, or storage of data assets that includes data of customers and organizations. DPaaS is projected to witness steady growth from small and big organizations in terms of securing their data. It helps organizations to improve the data security for data in transit or at rest. The SMEs (Small and medium-sized enterprises) are predicted to have the fastest growth in the market during the forecast period.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | IBM Corp. (United States), Amazon web services, Inc. (United States), HP Development Company (United States), Commvault Systems (United States), EMC Corp. (United States), VMware,Inc. (United States), Quantum Corp. (United States), Asigra, Inc. (Canada), Veritas Technologies (United States) and Cisco Sys. (United States) |
Segment Analysis
AMA Research have segmented the market of Global Data Protection as a Service market by Type, Application and Region. On the basis of Type, Hybrid Cloud are dominating the market in the year 2022
On the basis of geography, the market of Data Protection as a Service has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2022.
Market Trend
Increased demand for data backup and archives, Convergence of backup services and recovery and Need for virtualization of storage devices and servers.
Market Drivers
Increased data loss concerns., High demand for backups, archives, and governance and Rapid stringent government regulations for IT security and digitization.The increasing need for valuable data protection.
Opportunities
High-growth segments of the market by Stakeholders and The increasing need for data backups and archives.
Restraints
- High costs and complexity in cloud deployment
- Growing concerns regarding data loss.
In addition to the aforementioned factor, Increased data loss concerns.
is expected to propel the growth of the market over the forecast period.
Competitive Landscape
The market is segmented by numerous players who are involved in providing the best services to their clients and are using M & A strategies which allows them to gain more opportunities in their market.
The key Players profiled in the study are IBM Corp. (United States), Amazon web services, Inc. (United States), HP Development Company (United States), Commvault Systems (United States), EMC Corp. (United States), VMware,Inc. (United States), Quantum Corp. (United States), Asigra, Inc. (Canada), Veritas Technologies (United States) and Cisco Sys. (United States). A lot of United States players are profiled in the research study indicating a strong market dependence.