Data Protection-as-a-Service (DPaaS) is one of the most promising cloud-based services and is widely used for providing data privacy and security. The DPaaS market is expected to witness steady growth owing to rising demand from numerous large and medium-sized organizations to secure their business data. Currently, DPaaS is one of the most highly preferred solutions to fulfill the need for data security services to protect continually increasing business data. Virtualization of storage devices and servers is one of the major trends gaining traction in the overall DPaaS market.
Data Protection-as-a- The service market is segmented based on the delivery model into public, private, and hybrid clouds. At present, the private cloud holds dominance in the overall DPaaS market as many large companies, including Amazon.com, Inc., IBM Corporation, and Microsoft Corporation, are coming up with their own private clouds capable of handling all kinds of data and applications. Furthermore, hybrid cloud DPaaS is expected to grow rapidly over the forecast period because it allows users to switch from the private to the public cloud as needed.
The DPaaS market is further segmented by service into Disaster Recovery as a Service (DRaaS), Backup as a Service (BaaS), and Storage as a Service (STaaS). Currently, BaaS holds the largest share of the overall DPaaS market. BaaS is expected to hold its dominant position in the global market owing to the increasing number of data centers worldwide. Similarly, the DRaaS segment is also expected to witness incremental growth as disaster recovery plans become mandatory in the government and BFSI verticals to protect sensitive data on the cloud.
North America is the regional leader in overall cloud computing services, as newer cloud services witness warmer demand in this region as compared to Asia Pacific and Europe. Predominant deployments across different industry verticals are one of the most influencing factors, making North America the major market. Subsequently, North America contributes to the highest revenue in the overall DPaaS market. Further, Asia-Pacific is estimated to grow at the fastest rate owing to the continually rising adoption of cloud services and an inclination towards effective data protection.
Major drivers of the Data Protection-as-a-Service (DPaaS) market:
- decreasing the cost of cloud computing services
- growing concerns regarding data loss
- increasing need for data backups and archives
- Increasing demand from large and small, and medium enterprises
- heavy investment by the government into cloud-based infrastructure
Major market restraints for Data Protection-as-a-Service (DPaaS):
- Failure to include a failsafe feature
- Third-party dependence
The global data protection-as-a-service (DPaaS) market is segmented on the following basis:
- Public Cloud
- Private Cloud
- (Large enterprises especially prefer private cloud (e.g., Microsoft Azure) as a delivery model due to security concerns with external third-party service providers.)
- Hybrid Cloud
- Disaster Recovery as a Service (DRaaS)
- Backup as a Service (BaaS)
- Storage as a Service (STaaS)
- Small and Medium Enterprises
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
Key players identified in the Data Protection-as-a-Service (DPaaS) market include, but are not limited to:
IBM Corporation, Hewlett-Packard Enterprise Development LP, Oracle Corporation, CA Technologies, VMware, Inc., Amazon Web Services, Inc., Commvault Systems, Inc., Quantum Corporation, Symantec Corporation, McAfee, LLC, Veeam Software, Dell, Inc., and NetApp, Inc., among others.