Data Protection as a Service (DPaaS) Market Size, Share and Analysis By Service(Disaster Recovery as a Service (DRaaS), Backup as a Service (BaaS), Storage as a Service (STaaS)), By Enterprise Size (Large Enterprises, Small and Medium Enterprises), By End-use Industry (BFSI, Healthcare, Government, IT and Telecom, Defense, Energy and Power, Others) and Regional Forecast, 2024-2032

Data Protection-as-a-Service (DPaaS) is a cloud-based solution for network security and data asset protection. It can be deployed on public, private, and hybrid cloud, and provides a variety of services including backup-as-a-service (BaaS), disaster recovery-as-a-service (DraaS), and storage-as-a-service (STaaS). The hybrid cloud combines the benefits of both public and private clouds, giving businesses greater flexibility and better deployment options. For instance, the public cloud might be used for low-security, high-volume data, while the private cloud could be used for important processes that require high security. As a result of its efficient control, flexibility, and cost-effectiveness, the hybrid cloud architecture is gaining favour. Virtualization solutions such as a virtual private network (VPN), firewalls, and hypervisors are used to remotely monitor an organization's network infrastructure. They also make it easier to save archive data for a long time and restore data-in-transit and data-at-rest quickly. For instance, DPaaS is used by several enterprises to improve network security and improved data security for data-in-transit and data-at-rest.

One of the primary factors driving the market growth is rising virtualization of information technology (IT) infrastructure throughout the world. The industry is also being driven by the increased usage of cloud computing and software-defined data centers. DPaaS is widely used by cloud service providers to deliver improved data and network security for businesses.

• Netmagic was among the first few companies in India to offer cloud services, managed security, software-defined storage services, and disaster recovery-as-a-service.

The rising number of data thefts and cybercrimes linked to hybrid clouds and mobile devices are boosting the use of effective DPaaS solutions. For instance,

• The Evaluator Group reports that 58 % of enterprises adopt hybrid cloud data protection solutions for disaster recovery.

Other significant growth-inducing elements include the integration of linked devices with the internet of things (IoT) and the use of a virtual private network (VPN).  DPaaS is a service that encrypts, stores, and secures huge amounts of data created by individuals and businesses for improved operational efficiency and data resiliency and is deployed on IoT-enabled devices. Other factors, including considerable advancements in IT infrastructure and intensive research and development (R&D) operations, are expected to further fuel the market.

However, the high cost and limited capabilities may hamper the growth of data protection as a service market.

Impact of Covid-19 on Data Protection as a Service Market

COVID-19 had a positive impact on the data protection as a service market.  The way people live and work has evolved, from social distancing to required remote working, ceasing unnecessary physical meetings, and encouraging hand hygiene protocol. The implementation of this approach may demand company acts that require efficient methods of data protection by public institutions and private companies, which may have a positive impact on the data protection as a service market.

Key Insights

The report will cover following key insights:

• Micro Macro Economic Indicators


• Drivers, Restraints, Trends and Opportunities


• Business Strategies Adopted by the Players


• Impact of COVID-19 on Data Protection as a Service Market


• Consolidated SWOT Analysis of Key Players

Analysis by Service Type

Backup as a Service (BaaS) is expected to account for maximum market share owing to its capability to backs up and secures the data files or the entire contents of a hard drive on a regular basis via a network connection to a remote secure cloud-based data repository. Disaster Recovery as a Service (DRaaS) is anticipated to be the fastest growing service in near future. DRaaS backs up and secures your entire server, including the operating system, applications, and configuration, as well as data having an evident advantage over BaaS.

Regional Analysis

North America is expected to dominate the market because of the well-developed infrastructure and increased awareness of technological advancements. Europe might capture significant market share owing to growing investments in advanced technologies and imposition of favorable government policies associated with security.

During the projection period, the Asia Pacific region is expected to grow rapidly due to rising need for data security in prominent countries such as India and China. In addition, the usage of digital and cloud-based technologies to maintain work efficiency is increasing in the region.

Countries in the Middle East and Africa are experiencing rapid growth. However, data protection as a service industry will develop relatively slowly than other major regions. The market is expected to grow at a slower pace during the forecast period due to a lack of awareness and technical advances.

Key Players Covered

The report will include the profiles of key players such as Oracle Corporation, McAfee, CA Technologies, Acronis International GmbH, Veeam Software, Carbonite Inc., NetApp Inc., Red Hat Inc., Microsoft Corporation, Quantum Corporation, Acronis International GmbH, Veeam Software, Quest Software, VMware Inc., IBM Corporation, Amazon Web Services Inc., Commvault, Symantec Corporation, and HP Company.

Segmentation

Key Industry Developments

• In October 2021, Microsoft Corp. announced the release of a privacy management tool for its 365 programme to help clients comply with international and state-level privacy standards. Privacy Management for Microsoft 365 identifies privacy concerns linked with personal data in products like email and decides if data is being overshared, moved, or unused.


• In May 2021, GLESEC, a Cyber-Security company, launched Orchestrated Data Leakage Detection and Protection Service to help organizations to address a critical need associated with security and compliance.