In a recent published report, Kenneth Research has updated the market report for Data Protection As-A-Service Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Data Protection As-A-Service Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.
Market synopsis
Global data protection as-a-service market is expected to grow from USD 7.6 billion in 2017 to USD 28.2 billion by 2023, at a CAGR of 24.53% during the forecast period.Data protection as-a-service market by type is segregated into disaster recovery as a service (DRaaS), backup as a service (BaaS), storage as a service (STaaS). Among these the disaster recovery as a service segment is expected to register the highest CAGR during the forecast period owing to the growing number of advanced cyber-attacks that raises concerns related to the secure critical business data. By deployment model the market is segmented into public cloud, private cloud, hybrid cloud. The private cloud segment is expected to dominate the market throughout the forecast period (2018-2023) owing to greater data security it offers to large enterprises.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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On the basis of end-users, the market is segmented government and defense; banking, financial services, and insurance (BFSI); healthcare; IT and telecom; consumer goods and retail; education; media and entertainment; and others. BFSI sector consists of a large chunk of critical data that has been witnessing a rise in number of cyber-attacks. To secure the same, this sector has been witnessing high investment for data protection as-a-service.
The key players profiled in the cable management accessories market research report are IBM Corporation (US), CA Technologies (US), Microsoft Corporation (US), Symantec Corporation (US), Oracle Corporation (US), HP Company (US), McAfee, LLC (Intel Corporation), VMware, Inc. (US), Amazon Web Services, Inc. (US), and NetApp, Inc. (US). These players constantly focuses on growth strategies such as strategic partnerships, mergers, acquisitions, and product launch to enhance their product offerings and expand their market reach. For instance, in 2018, Carbonite Inc., introduced a new backup and advanced IT management solutions in its Data Protection Platform. The new server backup VM edition solution provides its Managed Service Providers (MSPs) the ability to offer a fully integrated service that protects virtualized environments both locally and in their own cloud.
Data Protection As-A-Service Market
Source: MRFR Analysis
Segmentation
Data protection as-a-service market is segmented based on type, deployment model, end-user, and region.
By type, the market is segregated into disaster recovery as a service (DRaaS), backup as a service (BaaS), storage as a service (STaaS)
The deployment model segment includes public cloud, private cloud, hybrid cloud
On the basis of end-users, the market is segmented government and defense; banking, financial services, and insurance (BFSI); healthcare; IT and telecom; consumer goods and retail; education; media and entertainment; and Others.
By region, the market is segmented into North America, Europe, Asia-Pacific and the Rest of the World.
Regional analysis
The global market for data protection as-a-service is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of data protection as-a-service market is done for North America, Europe, Asia-Pacific, and the rest of the world.
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North America followed by Europe is expected to dominate the data protection as-a-service market from 2018 to 2023 as these regions are sustainable and well-established economies that have enterprises with high focus on latest technology. Furthermore, the presence of the leading multinational companies in the region further drive the data protection as-a-service market in these regions.
Asia-Pacific is estimated to grow at the significant CAGR during the forecast period. The demand for data protection as-a-service in the region is driven by the rapid pace of digital transformation in countries such as China, Singapore, and India among others. Furthermore, the high adoption of cloud and web-based applications in the region drive the demand for data protection as-a-services.
Competitive Analysis
The data protection as-a-service market has witnessed the rising demand from growing number of data centers and IT facilities across the world. Key players to further strenghten their market position have opted for partnerships and new product launches as their key organic growth strategy. They are launching feature-rich products and services to their customers and further increase presence in uncatered regions. For instance, in 2017, Commvault launched an endpoint data protection as a service to streamline the backup and recovery of data stored on laptops, desktops and related devices.
Key players
The prominent players in the data protection as-a-service market are IBM Corporation (US), CA Technologies (US), Microsoft Corporation (US), Symantec Corporation (US), Oracle Corporation (US), HP Company (US), McAfee, LLC (Intel Corporation), VMware, Inc. (US), Amazon Web Services, Inc. (US), NetApp, Inc. (US), Acronis International GmbH (Switzerland), Red Hat, Inc. (US), Quest Software (US), Commvault (US), Carbonite, Inc. (US), Veeam Software (US), and Quantum Corporation (US). Apart from the top key players, the other players contribute nearly 5–10 % in the data protection as-a-service market.
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Intended Audience
Regulatory bodies
Security solution vendors
Data protection vendors
ISVs
Information security consulting firms
IT service providers
VARs
Managed Security Service Providers (MSSPs)
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