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New York, Sept. 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report 'Data Protection As A Service (DPaaS) Global Market Report 2022' -
, NxtGen Datacenter & Cloud Technologies Pvt. Ltd., Hitachi Vantara Corporation and Atos SE.
The global data protection as a service (DPaaS) market is expected to grow from $17.88 billion in 2021 to $23.09 billion in 2022 at a compound annual growth rate (CAGR) of 29.1%. The data protection as a service (DPaaS) market is expected to grow to $63.38 billion in 2026 at a CAGR of 28.7%.
The data protection as a service (DPaaS) market consists of sales of data protection as a service (DPaaS) by entities (organizations, sole traders, and partnerships) that are a collection of services that help organizations to protect their data and also improve their network security and recovery options.Data Protection-as-a-Service (DPaaS) is a cloud-based or web-based system for networking security and data loss prevention.
These services are provided to the clients through multiple memberships and help organizations in cutting the costs of system security and maintenance.
The main types of data protection as a service are disaster recovery as a service, backup as a service, and storage as a service.Disaster recovery as a service (DRaaS) is a cloud computing service model that enables an organization to back up its data and IT infrastructure in a third-party cloud computing environment and provides all DR orchestration, all through a SaaS solution, to regain access and functionality to IT infrastructure following a disaster.
Data protection as a service can be deployed in the public cloud, private cloud, and hybrid cloud in large enterprises and SMEs that can be used in various industries such as banking, financial services and insurance (BFSI), telecom & IT, government & public sector, healthcare, retail, energy & utilities, manufacturing, others.
North America was the largest region in the data protection as a service (DPaaS) market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the data protection as a service (DPaaS) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The data protection as a service (DPaaS) market research report is one of a series of new reports that provides data protection as a service (DPaaS) market statistics, including data protection as a service (DPaaS) industry global market size, regional shares, competitors with a data protection as a service (DPaaS) market share, detailed data protection as a service (DPaaS) market segments, market trends and opportunities, and any further data you may need to thrive in the data protection as a service (DPaaS) industry. This data protection as a service (DPaaS) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The increasing concern about data loss and data security is propelling the demand in the data protection as a service (DPaaS) market.Data loss refers to the loss of data due to internal issues like system failure or external issues like cyber attacks, etc.
Enterprises from all around the world have been concerned about data security recently due to incidents of data loss and data leaks.For instance, according to Identity Theft Resource Center's report, a United States non-profit organization, the year 2021 saw 1,862 data breaches, which was up from 1,108 data breaches in 2020.
These breaches have increased concerns about data loss in companies. Hence, the increasing concerns about data loss and data security are driving the growth of the data protection as a service market.
New technological advancements like the integration of connected devices with the internet of things (IoT) and virtual private network (VPN) are shaping the data protection as a service (DPaaS) market.For instance, in May 2021, GLobal Electronic-SECurity (GLESEC), a cyber-security firm announced the launch of its new Orchestrated data leakage detection and protection service.
This security-as-a-service has a unique offering of detecting and protecting data leakage without the need to classify all the information of the company. With this service, the company would address the need for the organization's security requirements.
In January 2021, Veritas, headquartered in California, a provider of enterprise data protection services, acquired HubStor for an undisclosed amount.With this acquisition, Veritas would add a SaaS-based data protection team to the team and would be able to bring data protection services to the cloud.
Hubstor, headquartered in Canada, is data protection as a service provider.
The countries covered in the data protection as a service (DPaaS) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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