Data Protection As a Service Market is projected to grow from USD 0.12 Billion in 2024 to USD 0.36 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.91% during the forecast period (2024 - 2032). Additionally, the market size for Data Protection As a Service was valued at USD 0.11 billion in 2023.
The growing importance of data security and privacy issues as well as growing worries about important data loss in the on-premises environment are the key market drivers enhancing the market growth.
Figure 1: Data Protection As a Service Market Size, 2024-2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for data protection as a service is being driven by the rising security concern. Because of the expanding data evolution, businesses are more concerned with improved data security and privacy safeguards. They also want to avoid subjecting the data to internal oversight and security flaws. Every endpoint gateway, sensor, and smartphone in the modern, digitally altered world has emerged as a possible hacking target. Since data needs to be protected and regularly backed up, businesses need data security services. Some companies have limited memory capacity, computer power, and battery life. It shows that conventional IT security solutions occasionally cannot tackle security crises brought on by cyberattacks. Taking care of the problem will significantly speed up the adoption of data security services. The IT infrastructure market has been shaken by the rapid move from product-based solutions to service-based alternatives. Businesses use the service model more frequently to provide business outcomes to their clients and suppliers. Because organizations manage a large amount of data, the change to the service-based model was largely caused by the emphasis on resilience.
Data protection as a service (DPaaS) has shown to be the most robust infrastructure service because it enables businesses to back up solutions at scale and offers data protection across compute storage and network environments.The database's data and information are also protected and restored with the aid of DPaaS solutions. For instance, certain businesses that use edge computing or high-performance computing environments frequently have high data flow rates within their functional levels and need more constrained bandwidth and adequate backups to handle the information rush. A little error in the backup procedure might result in significant data loss and large operating expenses for the businesses to recover the lost data because of their restricted capabilities. As a result, businesses are utilizing DPaaS solutions more frequently to give their functional, administrative, and development teams effective recovery choices so they can regularly back up their data before something goes wrong.
The market is expected to develop due to the expanding Bring Your Own Device (BYOD) and Choose Your Own Device (CYOD) trends among businesses. Employers can increase productivity by allowing employees to register and share their own devices through BYOD rules. Increased dangers of data theft, data piracy, and data storage became one of the main issues for businesses. Enterprises use DPaaS services and solutions to lessen these difficult problems. Additionally, the COVID-19 pandemic effect has compelled businesses to move their solutions and services to the cloud. Thus, driving the Data Protection As a Service market revenue.
The Data Protection As a Service market segmentation, based on service type, includes disaster recovery as a service (DRaaS), backup as a service (BaaS), and storage as a service (STaaS). The storage as a service (STaaS) segment dominated the market, accounting for 44% of market revenue. The service is more common among small and medium-sized businesses since it provides a practical means of mitigating disaster recovery and storage needs. Also, the industry is expanding due to the rising demand for long-term preservation of records, databases, and the cloud to improve business continuity.
Based on deployment, the Data Protection As a Service market segmentation includes public cloud, private cloud, and hybrid cloud. The hybrid cloud segment dominated the market. Public and private clouds are included in the hybrid cloud, giving businesses greater flexibility and more effective deployment choices. For instance, businesses might utilize the public cloud for data with great volume and minimal security requirements and the private cloud for mission-critical tasks requiring high security. As a result, the hybrid cloud model is becoming increasingly popular due to its effective management, adaptability, and cost-effectiveness characteristic.
The Data Protection As a Service market segmentation, based on organization size, includes small & medium enterprises and large enterprises. The large enterprise generated the most income (70.4%). The three main causes of category growth are rising cyber threat threats, data breaches, and cloud adoption by major businesses. Another factor driving major businesses to adopt various data protection and recovery solutions is the requirement to comply with the ever-changing data protection rules and guidelines. Large businesses also take on a lot of strategic efforts, from acquisitions and regional distribution to technological partnerships.
Figure 1: Data Protection As a Service Market, by Organization Size, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American Data Protection As a Service market will dominate this market; the region's expansion is the rise in cyberattacks and the rising costs of cloud-based services and data security products. Additionally, it is projected that the U.S.'s substantial IT infrastructure, cloud solution providers, and data protection companies would contribute to the increase.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, Japan, India, Australia, South Korea, China, and Brazil.
Figure 2: DATA PROTECTION AS A SERVICE MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Europe Data Protection As A Service market holds the second-largest market share due to rising costs for recovery, backup, and storage options and stricter data protection regulations. Additionally, the European region's market for data protection as a service in the UK expanded at the fastest rate. The largest market share for the product was in Germany.
Between 2023 and 2032, the Asia-Pacific region is expected to have the fastest CAGR growth in the market for data protection as a service. One aspect of regional development is the expanding use of managed services, security measures, and data hosting services. Another element promoting regional prosperity is the tendency towards ongoing digital transformation. Additionally, the greatest market share in the Asia-Pacific region for data protection as a service was held by China, while the market in India had the quickest rate of expansion.
Leading market companies are making significant R&D investments to diversify their product offerings, which will drive the Data Protection As a Service market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants also engage in several strategic actions to increase their worldwide presence. The market for Data Protection As a Service industry is becoming more competitive. Therefore, it needs to offer reasonably priced products to grow and thrive.
Manufacturing locally to reduce operating costs is one of the primary business strategies manufacturers employ in the worldwide Data Protection As a Service industry to assist customers and expand the market sector. The market for Data Protection As a Service industry has recently provided some of the most important benefits. By making investments in research and development activities, major companies in the Data Protection As a Service market, such as Oracle Cloud, Dell Inc., and others, are aiming to boost market demand.
Oracle Cloud is a cloud technology firm offering software and computer infrastructure to businesses worldwide to innovate, realize efficiencies, and improve productivity. To assist in organizing and safeguarding our client's data, they also developed the world's first and only autonomous database. Oracle Cloud Infrastructure provides greater performance, increased security, and cost savings. In October 2022, By providing clients with a flexible and distinctive solution to protect against data loss, data corruption, and data theft, Oracle's ground-breaking relationship with Commvault strengthens synergies across all sorts of partnerships.
American-based technology corporation Dell Inc. It creates, markets, fixes, and maintains computers and associated goods and services. The parent business of Dell, Dell Technologies, owns Dell.Dell offers equipment made by various manufacturers, including servers, personal computers (PCs), data storage units, software, network switches, computer peripherals, HDTVs, cameras, and printers. In April 2021, To satisfy the need for native data protection without adding unnecessary layers of complexity for IT administrators, Dell Technologies Inc. unveiled Dell EMC PowerProtect Backup Service powered by Druva Inc. (US).
November 2022: Data security and management company Cohesity said at ReConnect that it is teaming up with the "who's who" of cybersecurity to give consumers new strategies for prevailing in the battle against cyberattacks. With superior data management and security know-how from Cohesity, the Data Security Alliance now offers best-in-class solutions from top cybersecurity and services providers.
July 2022: T-Systems announced that it had earned the Amazon Web Services (AWS) Security Competency certification for Identity and Access management. This recognition acknowledges that T-Systems has proven that it can provide clients with a high level of consulting and software expertise in identity and access management to help them meet their cloud security objectives.
Data Protection As a Service Market Segmentation
Disaster Recovery as a Service (DRaaS)
Backup as a Service (BaaS)
Storage as a Service (STaaS)
Public Cloud
Private Cloud
Hybrid Cloud
Small & Medium Enterprise
Large Enterprise
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 0.11 Billion |
| Market Size 2024 | USD 0.12 Billion |
| Market Size 2032 | USD 0.36 Billion |
| Compound Annual Growth Rate (CAGR) | 13.91% (2024-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Organization Size, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | IBM Corporation, Hewlett Packard Enterprise Development Lp, Dell Technologies Inc, Hitachi Vantara Corporation, Thales Group, ATOS SE, MUSARUBRA US LLC (MCAFEE LLC), Commvault, Micro Focus International Plc, Quantum Corporation, NETAPP Inc, VOLICO Data Centers, Cohesity Inc, Veritas, NXTGEN Datacenter & Cloud Technologies |
| Key Market Opportunities | Growing popularity of cloud-based Data Protection Solutions among Small and medium-sized enterprises (SMEs) |
| Key Market Dynamics | Increasing need FOR data security and privacy concerns |
Data Protection As-A-Service Market Highlights:
Frequently Asked Questions (FAQ) :
The Data Protection As a Service market size was valued at USD 0.11 Billion in 2023.
The market is projected to grow at a CAGR of 13.91% during the forecast period, 2024-2032.
North America had the largest share in the market
The key players in the market are IBM Corporation, Hewlett Packard Enterprise Development Lp, Dell Technologies Inc, Hitachi Vantara Corporation, Thales Group.
The beverage category dominated the market in 2022.
The store based had the largest share in the market.
Senior Research Analyst Ankit gupta is an analyst in market research industry in ict and semi industry. with post-graduation in "telecom and marketing management" and graduation in "electronics and telecommunication" vertical he is well versed with recent development in ict industry as a whole. having worked on more than 150+ reports including consultation for fortune 500 companies such as microsoft and rio tinto in identifying solutions with respect to business problems his opinions are inclined towards mixture of technical and managerial aspects.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
