Data Protection as a Service Market Share, Growth Drivers, Revenue, Demand, Challenges and Future Opportunities Forecast till 2033: SPER Market Research
Data Protection as a Service Market
A web-based or cloud-assisted solution for network security and data asset protection is called Data Protection-as-a-Service (DPaaS). It is frequently implemented utilizing public, private, and hybrid cloud systems and provides a range of services, including Storage-as-a-Service (STaaS), Backup-as-a-Service (BaaS), and Disaster Recovery-as-a-Service (DraaS). These systems use virtualization techniques including firewalls, virtual private networks (VPNs), and hypervisors to remotely monitor the enterprises’ physical networks. They also offer the quick recovery of data-at-rest and data-in-transit, as well as the long-term retention of archived data.
According to SPER Market Research, ‘Global Data Protection as a Service Market Size- By Service, By Deployment, By Enterprise Size, By End Use – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ states that the Global Data Protection as a Service Market is estimated to reach USD 333.62 billion by 2033 with a CAGR of 34.93%.
Drivers: The increasing global virtualization of information technology (IT) infrastructure is the main factor propelling the market’s expansion. The industry is also growing as a result of the widespread adoption of cloud computing and software-defined data centers. Cloud service providers are using DPaaS extensively to improve network and data security for businesses. Therefore, the adoption of efficient DPaaS solutions is also being fueled by the frequency of cybercrimes and data thefts connected to portable devices and hybrid clouds, as well as the rising need for data backups and archives. The integration of connected devices with the internet of things (IoT) and virtual private networks (VPNs) are two technological advancements that are also significantly propelling growth.
Restraints: Scalability, compliance, and data security are the main issues confronting the Data Protection as a Service (DPaaS) market. Protecting sensitive data from online dangers like ransomware, hacking, and data breaches is becoming a major concern as more and more businesses use cloud-based solutions. Additionally, DPaaS suppliers must maintain compliance with the complicated regulatory frameworks of multiple jurisdictions, including GDPR, HIPAA, and other local privacy laws. Consequently, it becomes more difficult to guarantee that data protection services satisfy both national and international regulatory standards.
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Impact of COVID-19 on Global Data Protection as a Service Market
The Global Data Protection as a Service (DPaaS) industry was significantly impacted by the COVID-19 epidemic, which changed how companies view data protection and encouraged its growth. Strong data protection services became more crucial as businesses quickly adopted remote work models that allowed staff to access company data from a variety of devices and places. The need for cloud-based data security solutions that could offer safe backup, recovery, and management in a distributed setting increased as a result of this change.
Global Data Protection as a Service Market Key Players:
Additionally, some of the market key players are, IBM Corporation, Amazon Web Services Inc., Hewlett Packard Enterprise Company, Dell Inc., Cisco Inc., Oracle Corporation.
Global Data Protection as a Service Market Segmentation:
By Service: Based on the Service, Global Data Protection as a Service Market is segmented as; Disaster Recovery as a Service (DRaaS), Backup as a Service (BaaS), Storage as a Service (STaaS)
By Deployment: Based on the Deployment, Global Data Protection as a Service Market is segmented as; Public Cloud, Private Cloud, Hybrid Cloud
By Enterprise Size: Based on the Enterprise Size, Global Data Protection as a Service Market is segmented as; Small and Medium-sized Enterprises (SMEs), Large Enterprises.
By End Use: Based on the End Use, Global Data Protection as a Service Market is segmented as; Banking, Financial Services, and Insurance, Healthcare, IT and Telecom, Retail, Education, Manufacturing, Others.
By Region: This research also include data for North America, Europe, Asia-Pacific Middle East & Africa and South America.
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Data Protection as a Service Market Share
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