Research Nester released a report titled “Data Protection as a Service (DPaaS) Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the data protection as a service market in terms of market segmentation by service, by application, by type of deployment, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Data Protection as a Service (DPaaS) is a service that offers protection against potential cyber threats and data leakages. Owing to its various applications for the end users, the global DPaaS market is anticipated to record a significant CAGR over the forecast period, i.e., 2020-2028. Based on service type, the market is segmented into disaster recovery as a service (DRaaS), Backend-as-a-service (BaaS), Storage as a Service (STaaS), out of which, the leading share is estimated to be held by DRaaS segment on the back of higher demand for this service in the market. The market is further segmented by deployment into public cloud, private cloud and hybrid cloud. Among these segments, the private cloud segment was the largest revenue generating segment in 2019 owing to the sophistication, security and preference of consumers.
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Geographically, the global DPaaS market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, the market in North America is predicted to hold the leading share on account of presence of leading market players in the region which manufacture and market DPaaS solutions. Additionally, the growth in IoT devices and internet usage in Asia Pacific is expected to drive the market growth at a higher rate.
Growing Data thefts and Digitalization to Boost the Market Growth
The demand for data protection services is high owing to protecting sensitive data pertaining to intellectual property amid growing potential cyber threats and data thefts. According to the World Bank, 49% out of every 100 people on the planet use internet on a daily basis and thus the data privacy and protection measures are a top priority. Such factors are anticipated to significantly drive the market growth. However, high cost of these services and lack of skilled professionals are factors estimated to hamper the market growth.
This report also provides the existing competitive scenario of some of the key players of the global Data Protection as a Service market which includes company profiling of IBM, Amazon Web Services, Inc., Hewlett Packard Enterprise Development LP, Cisco Systems, Inc., Quantum Corporation, Dell Inc., VMware, Inc, Veritas Technologies LLC., Commvault, Carbonite, Inc.. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
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On the whole, the report depicts detailed overview of the global DPaaS market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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