Global Data Protection As A Service Market By service type, By deployment, By end use, & By region-Forecast Analysis 2022-2028

Global Data Protection as a Service market was valued at USD 15.69 billion in 2021, and it is expected to reach a value of USD 105.69 billion by 2028, at a CAGR of 31.5% over the forecast period (2022-2028).

One of the key drivers influencing market growth is the increased adoption of next-generation technologies and the movement of data to a cloud model in order to obtain flexibility, agility, and to maximise cost savings. Hence, the need to store and protect sensitive data against theft, loss, and operational calamities is pushing businesses to seek cloud-based data security solutions and services.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global data protection as a service market and various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report:

The global Data Protection as a Service Market is segmented based on Service Type, Deployment, End Use, and Region. Based on Service Type, the market is segmented as Disaster Recovery as a Service (DRaaS), Backup as a Service (BaaS), and Storage as a Service (STaaS). The market based on Deployment is classified as Public Cloud, Private Cloud, and Hybrid Cloud. Based on End Use the market is further sub-segmented into SMEs and Large Enterprises. Based on the region, the market is segmented into North America, Europe, Asia Pacific, Middle East, Africa, and South America.

Driver

The IT infrastructure market has been shaken up by the rapid move from product-based solutions to service-based alternatives. Businesses are using the service model more frequently to provide business outcomes to their clients and suppliers. Because organisations manage a large amount of data, the change to the service-based model was primarily 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 backup solutions at scale and offers data protection across computing, storage, and network environments.

Restraint

The market is flooded with open-source vendors that offer free tools and services for data protection as a service. As a result, end users are selecting open-source solutions over those from reputable suppliers. For instance, the availability of open-source applications like FlinkISO and Odoo allows enterprises to use the quality management capacity without paying for it. A majority of small organisations also don't invest in costly on-premises and cloud-based quality management solutions, especially those in developing nations like China and India. All of these problems are anticipated to limit market players' growth potential within the anticipated time frame.

Market Trends

Enterprises are under increased pressure to comply with regulations and standards that are becoming more stringent, such as the GDPR policy and the Data Protection Act. As a result, there is increased demand on the businesses to conduct routine audits and concentrate on their compliance framework in order to demonstrate their accountability. Data protection services offer a more practical solution for businesses to overcome obstacles and lower their exposure risks to data protection as a result of the tightening of standards. It requires teamwork to plan, follow procedures, identify data protection artefacts and procedures, and offer incident response capabilities.