Data Protection as a Service Market Trends and Analysis 2031
The data protection as a service market size is projected to reach US$ 264.27 billion by 2031 from US$ 34.25 billion in 2023. The market is expected to register a CAGR of 29.1% in 2023–2031. Need for robust data security measures and stringent regulations, the adoption of data protection solutions is likely to remain key data protection as a service market trends.
Data Protection as a Service Market Analysis
The growing adoption of advanced technologies and the transition of data to cloud-based systems for greater flexibility, efficiency, and cost savings are driving market growth. As a result, the imperative to securely store and safeguard critical data from loss, theft, and operational interruptions is motivating businesses to seek cloud-based data protection solutions and services.
Data Protection as a Service Market Overview
The IT infrastructure industry has experienced significant disruption due to the shift from product-based solutions to service-based offerings. Enterprises are gradually adopting a service model to deliver business outcomes to their clients and vendors, driven primarily by a focus on resiliency as they manage large volumes of data. Within infrastructure services, data protection as a service (DPaaS) has emerged as a particularly resilient solution, enabling enterprises to scale backup capabilities and provide data protection across storage, computing, and network environments. DPaaS solutions also play a crucial role in protecting and restoring data and information within databases. For instance, enterprises operating high-performance or edge computing environments with high data flow rates and limited bandwidth rely on DPaaS to efficiently back up data and reduce the risk of data loss and operational costs. As a result, enterprises are increasingly embracing DPaaS solutions to offer efficient recovery options for their development, functional, and administration teams, allowing them to regularly back up data as a precautionary measure.
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Data Protection as a Service Market: Strategic Insights
Data Protection as a Service Market
-
CAGR (2023 - 2031)
29.1%
-
Market Size 2023
US$ 34.25 Billion
-
Market Size 2031
US$ 264.27 Billion
Market Dynamics
GROWTH DRIVERS
- Need for Robust Data Security Measures
- Stringent Regulations for the Adoption of Data Protection Solutions
FUTURE TRENDS
- Growing Trend of Cloud Computing
OPPORTUNITIES
- Rise in Cyber-Attacks
Key Players
- Acronis International GmbH
- Amazon Web Services Inc
- Commvault
- Carbonite Inc
- EMC Corporation
- Hewlett Packard Enterprise Development LP
- IBM Corporation
- McAfee LLC
- Quantum Corporation
- VMware Inc
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Deployment
- Private Cloud
- Public Cloud
- Hybrid Cloud
Organization Size
- SMEs
- Large Enterprises
Service Type
- Backup as a Service
- Disaster Recovery as a Service
- Storage as a Service
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Data Protection as a Service Market: Strategic Insights
-
CAGR (2023 - 2031)29.1% -
Market Size 2023
US$ 34.25 Billion -
Market Size 2031
US$ 264.27 Billion
Market Dynamics
- Need for Robust Data Security Measures
- Stringent Regulations for the Adoption of Data Protection Solutions
- Growing Trend of Cloud Computing
- Rise in Cyber-Attacks
Key Players
- Acronis International GmbH
- Amazon Web Services Inc
- Commvault
- Carbonite Inc
- EMC Corporation
- Hewlett Packard Enterprise Development LP
- IBM Corporation
- McAfee LLC
- Quantum Corporation
- VMware Inc
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
- Private Cloud
- Public Cloud
- Hybrid Cloud
- SMEs
- Large Enterprises
- Backup as a Service
- Disaster Recovery as a Service
- Storage as a Service
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Data Protection as a Service Market Drivers and Opportunities
Need for Robust Data Security Measures to Favor the Market
The growing amount of data has created a greater necessity for strong data security protocols, especially with the rise in cloud service usage by businesses. As cloud capabilities expand, the scope of data security has broadened, leading organizations to seek more advanced tools to safeguard not just data but also applications and proprietary business processes across public and private clouds. This escalating need for robust data security measures has fueled the popularity of Data Protection as a Service (DPaaS).
Rise in Cyber-Attacks
The increasing incidence and severity of cyber-attacks have raised awareness about the significance of data protection, leading to a heightened demand for DPaaS. This demand is especially noticeable in the context of the growing need for data protection among cloud service providers. The rise in cyber-attacks has emphasized the necessity for data protection and has further fueled the demand for DPaaS. It's becoming increasingly clear that the loss of critical data from cyber-attacks can significantly harm an organization's reputation and ability to operate. As organizations continue to look for more robust and scalable solutions to safeguard their data from evolving cyber threats, this trend is expected to persist.
Data Protection as a Service Market Report Segmentation Analysis
Key segments that contributed to the derivation of data protection as a service market analysis are deployment, organization size, and service type.
- Based on deployment, the market is divided into private cloud, public cloud, and hybrid cloud. The public cloud segment held a significant market share in 2023.
- By organization size, the market is bifurcated into SMEs and large enterprises. The large enterprises segment held a substantial share of the market in 2023.
- In terms of service type, the market is segmented into backup as a service (BaaS), disaster recovery as a service (DRaaS), and storage as a service (STaaS). The backup as a service (BaaS) segment held a substantial share of the market in 2023.
Data Protection as a Service Market Share Analysis by Geography
The geographic scope of the data protection as a service market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
The growth of the cybersecurity and cloud service industry in North America has significantly impacted the DPaaS market in the region. Furthermore, the increased emphasis on legislative compliances to enhance cloud security and mitigate cyber-attacks has contributed to the market's expansion. The presence of a multitude of vendors offering tailored solutions presents opportunities within the market. Additionally, factors including data disclosure regulations, the necessity for stringent compliance with sensitive data protection, heightened expenditure on security platforms, and the rise in internet accessibility have all contributed to the escalating demand for DPaaS in the region.
Data Protection as a Service Market Report Scope
Report Attribute | Details |
---|---|
Market size in 2023 | US$ 34.25 Billion |
Market Size by 2031 | US$ 264.27 Billion |
Global CAGR (2023 - 2031) | 29.1% |
Historical Data | 2021-2022 |
Forecast period | 2024-2031 |
Segments Covered |
By Deployment
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Data Protection as a Service Market News and Recent Developments
The data protection as a service market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:
- Cohesity, a leader in AI-powered data security and management, and Veritas, a leader in secure multi-cloud data resilience, today are announcing their definitive agreement under which Cohesity intends to combine with Veritas’ data protection business, which will be carved out of Veritas, to create a new leader in data security and management. Customers will benefit from the accelerated innovations unlocked by the joint company’s scaled R&D investment, its unwavering support for customer success, and one of the industry’s most extensive partner ecosystems.
(Source: Veritas Technologies LLC, Press Release, 2024)
- Veeam® Software, the #1 leader by market share in Data Protection and Ransomware Recovery, today announced the new Veeam Data Cloud, which is built on Microsoft Azure and delivers the confidence and reliability of the industry’s leading platform with the ease and accessibility of a cloud service. Today, Veeam Data Cloud provides backup-as-a-service (BaaS) for Microsoft 365 and Microsoft Azure, enabling radical resilience and leveraging powerful data protection and security technology within a simple, seamless user experience.
(Source: Veeam® Software, Press Release, 2024)
Data Protection as a Service Market Report Coverage and Deliverables
The “Data Protection as a Service Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Deployment ; Organization Size ; Service Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Frequently Asked Questions
The market is expected to reach US$ 264.27 billion by 2031.
The key players holding majority shares in the market are Acronis International GmbH, Amazon Web Services, Inc., Commvault, Carbonite, Inc., and EMC Corporation.
The growing trend of cloud computing is anticipated to play a significant role in the data protection as a service market in the coming years.
The need for robust data security measures and stringent regulations are the major factors that propel data protection as a service market.
The market was estimated to be US$ 34.25 billion in 2023 and is expected to grow at a CAGR of 29.1% during the forecast period 2023 - 2031.