December 11, 2019
According to the new research report available at MarketStudyReport.com under the title ‘Data Protection as a Service Market to 2027 - Global Analysis and Forecasts by Deployment (Private Cloud, Public Cloud, Hybrid Cloud); Organization Size (SMEs, Large Enterprises); Service Type (Backup as a Service (BaaS), Disaster Recovery as a Service (DRaaS), and Storage as a Service (STaaS))’, the worldwide data protection as a service market is anticipated to amass USD 94.3 billion by the year 2027.
Digital transformation across various industries has made operations efficient and data accessible. However, it also raises the concerns for data protection and security. Rising instances of cybercrimes such as data theft and data corruption are compelling the enterprises, especially online retail and financial institutes to adopt data protection as a service (DPaaS), hence propelling the market growth. Moreover, these solutions enable companies to comply with various policies and regulations, which is further augmenting the demand in DPaaS market.
According to the report, data protection as a service market was worth USD 9.55 billion in 2018 and is anticipated to grow with a CAGR of 29.1% through the year 2027, hence reaching USD 94.3 billion.
The worldwide data protection as a service market is examined on the basis of deployment, organization size, service type, and geographical outlook. Based on deployment, the market is segmented as hybrid cloud, private cloud, and public cloud. While considering the organization size, the market is fragmented as large enterprises and small & medium enterprises (SMEs).
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Speaking of the service type, DPaaS market is classified as storage as a service, backup as a service, and disaster recovery as a service. While based on the geographical landscape, the market is divided in regions namely North America, South America, Asia Pacific, Europe, and Middle East & Africa. The report cites that North America dominated the global data protection as a service market in 2018, whereas Asia Pacific is presumed to be the fastest growing market in the upcoming years.
The prominent companies operating in data protection as a service market include IBM Corporation, EMC Corporation, Hewlett Packard Enterprise Development LP, Commvault, Amazon Web Services Inc., VMWare, Inc., Quantum Corp., McAfee, LLC, Carbonite, Inc., and Acronis International GmbH.
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