Data Protection as a Service Market by Service Types (Backup as a Service, Storage as a Service, and Disaster Recovery as a Service), Deployment (Private Cloud, Public Cloud, and Hybrid Cloud), End-users (Large Enterprises and SMEs), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

The global data protection as a service market size is projected to register a high CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing transhumance of data to a model to gain flexibility and growing adoption of next-generation technology.

To store and protect critical data from operational disasters, data loss, and data theft, organizations are increasingly adopting services including the cloud and data protection solutions. The rapid shift in the development of product-based solutions to the service-based offerings has brought robust expansion of the IT infrastructure industry. The service-based model shift was due to the concentration on pliability, as businesses manage lots of data. Data protection as a service (DPaaS) has been the most adaptable service as it supports businesses to recover solutions and provides data protection for storage, computing, and network environments. The solutions also help in protection and restoring the information and data in the database. For instance, certain organizations require edge computing environments or high-performance computing, which often have high data flow rates in their serviceable levels and have limited bandwidth and small backups to back up the inundation of data. With such less capabilities, even a small failure in the recovering process could incur a huge loss of information and operational expenses for the organizations to recover the information lost. As a result, enterprises are growingly adopting DPaaS solutions to provide their functional, developing, and administration teams with effective recovery choices so they can constantly backup data for protection.

Gradually, the scale and frequency of cyber-attacks have increased pronouncedly. Companies are now in need of a highly connected and layered security system to prevent and risks attacks. With this increasing security threats and growing peril, in-house security teams are no longer capable to protect businesses. Thus, it has become inescapable for such enterprises to look towards DPaaS. Cisco published its 2020 Data Privacy Benchmark Study which had provided in depth insight of the state of privacy a year and a half after the date of the European Union's General Data Protection Regulation was came into force in January 2020. It was largely considered to be a landmark study on how organizations control and manage the use of personal data. On average, organizations receive benefits over 1.9 times on investment and more than 40 % are observing benefits that are multiple of their private spending, according to the study.

Market Trends, Drivers, Restraints, and Opportunities

• Various organizations are growingly implementing data protection service model to provide business solutions to their vendors and customers. This is expected to act as a major driver of the market.
• Growing authority strictness in regulations, rules, and standards for the data protection by formulating policies such as the Data Protection Act and GDPR policy to put more obligations on companies to comply. This presents another key driver of the market.
• Wide adoption of Choose Your Own Device and Brings Your Own Device drift in organizations are some of the key elements contributing to the market growth.
• Rising reliance on distant network infrastructure affected businesses to choose for backup services, which is expected to provide growth opportunities to the market.
• Growing incidence of data thefts along with rising risks linked to data storage and data piracy are major challenges expected to hamper the market expansion during the forecast period.

Scope of the Report

The report on the global data protection as a service market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

Storage as a service segment is projected to account for a key market share

Based on service types, the global data protection as a service market is segmented into backup as a service, storage as a service, and disaster recovery as a service. The storage as a service segment is projected to account for a key share of the market during the projected period due to growing demand for long term retention of databases, records, and cloud to enhance their business continuity. However, the disaster recovery as a service segment is anticipated to expand at a rapid pace during the forecast period owing to increasing cases of malware, data breaches, and software bugs.

Hybrid cloud segment is estimated to expand at a robust growth rate

In terms of deployments, the market is differentiated into private cloud, public cloud, and hybrid cloud. The hybrid cloud segment is estimated to expand at a robust growth rate in the coming years due to the growing popularity owing to its flexibility, efficient control, and cost-effectiveness feature. Meanwhile, the public cloud segment is expected to register a high growth rate during the projected period as popularity of the public cloud is highly prevalent among small and medium-sized enterprises due to its low-cost.

Large enterprises segment is projected to expand at a considerable CAGR

In terms of end-users, the global data protection as a service market is bifurcated into large enterprises and SMEs. The large enterprises segment is projected to expand at a considerable CAGR during the forecast period owing to maintain and manage the efficient flow of data with proper backup. On the other hand, the SMEs segment is anticipated to account for a key market share in the coming years due to growing adoption of cloud-based solutions among SMEs.

North America is anticipated to constitute a key market share

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key share of the market during the projected period due to increased cases of cyber-attacks along with increased spending on cloud-based services and data protection solutions. The market of Asia Pacific, however, is expected to register a high CAGR during the forecast period owing to growing adoption of managed services, security solutions, and data hosting services in the region.

Segments

The global data protection as a service market has been segmented on the basis of

Service Types

• Backup as a Service
• Storage as a Service
• Disaster Recovery as a Service

Deployment

• Private Cloud
• Public Cloud
• Hybrid Cloud

End-users

• Large Enterprises
• SMEs

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• Amazon Web Services, Inc.
• Asigra, Inc.
• Commvault Systems, Inc.
• Cisco Systems, Inc.
• HP Development Company L.P.
• Dell Inc.
• IBM Corporation
• Microsoft Corporation
• Oracle
• NetApp, Inc.
• Quantum Corporation
• Veritas Technologies LLC

Competitive Landscape

Key players competing in the global data protection as a service market are Amazon Web Services, Inc.; Asigra, Inc.; Commvault Systems, Inc.; Cisco Systems, Inc.; HP Development Company L.P.; Dell Inc.; IBM Corporation; Microsoft Corporation; Oracle; NetApp, Inc.; Quantum Corporation; and Veritas Technologies LLC. The main market players are continuously engaged in various development activities such as mergers and acquisitions, research and developments, investments for innovative products, and collaborations. For instance, Hitachi Vantara LLC, a major provider of data management solutions to enterprises to enhance their operational efficiencies, launched DPaaS solution in April 2019.