Data Protection As A Service (DPaaS) Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, China, Germany, UK, Japan - Size and Forecast 2024-2028

Data Protection As A Service Market Size 2024-2028

The data protection as a service (DPaaS) market size is forecast to increase by USD 87.57 billion at a CAGR of 46.02% between 2023 and 2028.

• The market is experiencing significant growth due to the rising adoption of this solution among various industries in the US. The exponential growth in the volume of data being generated and collected by enterprises necessitates strong data protection measures. Deployment modes like hosted services and hybrid cloud have made DPaaS more accessible and cost-effective for businesses. In-house security teams are increasingly turning to DPaaS to enhance their data security capabilities.
• Disaster recovery is another key area where DPaaS is gaining traction, providing businesses with a reliable and efficient backup and recovery solution. Despite its benefits, the high cost of DPaaS remains a challenge for some enterprises. Overall, the DPaaS market is poised for continued growth as more organizations recognize the importance of securing their data in the digital age.

What will be the Data Protection As A Service Market Size During the Forecast Period?

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• The market refers to the provision of managed data security services through cloud-based solutions. These services enable organizations to safeguard their data from cyberattacks and data breaches, ensuring business continuity and compliance with data protection regulations. In the US, the adoption of DPaaS is on the rise as businesses seek to enhance their IT infrastructure's security and scalability. DPaaS offers several benefits to organizations, including scalability, management, and recovery options. Scalability allows businesses to easily expand their data protection capabilities as they grow, while management simplifies the process of securing data through centralized control. Recovery options ensure that data can be quickly restored in the event of a cyberattack or data loss. Cloud storage is a critical component of DPaaS, providing organizations with secure, offsite data storage. DPaaS providers offer advanced security features, such as encryption, access controls, and intrusion detection, to protect data in the cloud. Data breaches and cyberattacks pose significant risks to organizations, leading to financial losses, reputational damage, and legal consequences.
• Moreover, DPaaS helps mitigate these risks by providing strong security measures and real-time threat detection and response. DPaaS can be deployed in various modes, including public, private, and hybrid clouds. The choice of deployment mode depends on the organization's size and specific security requirements. Small and medium-sized businesses may prefer public cloud solutions, while larger enterprises may opt for private or hybrid clouds for enhanced security and control. DPaaS is applicable to various industry verticals, including healthcare, finance, retail, and education. These industries handle sensitive data and are subject to stringent data protection regulations. DPaaS providers offer paid databases with threat intelligence and compliance information to help organizations stay informed and comply with regulatory requirements. Next-Generation Technologies: DPaaS solutions leverage next-generation technologies, such as artificial intelligence (AI) and machine learning (ML), to provide advanced threat detection and response capabilities.
• Additionally, these technologies enable DPaaS providers to quickly identify and respond to emerging threats, ensuring that organizations' data remains secure. IT Infrastructure Industry: The IT infrastructure industry is a significant contributor to the growth of the DPaaS market. DPaaS solutions offer businesses a cost-effective and efficient way to enhance their data security capabilities without the need for extensive IT resources or expertise. DPaaS is an essential solution for businesses looking to enhance their data security and ensure business continuity in the face of cyberattacks and data breaches. With its scalability, management, and recovery options, DPaaS offers organizations the flexibility and control they need to protect their data in the cloud. As data security becomes increasingly critical, the adoption of DPaaS is expected to continue growing in the US and beyond.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Application
  • STaaS
  • BaaS
  • DRaaS
• Business Segment
  • Large
  • Small and medium
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
  • APAC
    • China
    • Japan
  • South America
  • Middle East and Africa

By Application Insights

• The STaaS segment is estimated to witness significant growth during the forecast period.

In today's IT infrastructure industry, managing business data has become a critical aspect for organizations. With the production of vast amounts of unstructured data daily, the cost of maintaining on-premises IT infrastructure continues to rise. To address this challenge, many businesses are turning to Data Protection as a Service (DPaaS) solutions. DPaaS allows organizations to lease storage infrastructure from a third-party provider, enabling them to store their data securely off-site or on-site. Next-generation technologies, such as multi-layered security systems, ensure the protection of sensitive data. These cloud-based data centers offer operational disaster recovery solutions, safeguarding against potential data loss.

In a DPaaS model, clients pay based on their usage, making it a cost-effective solution for businesses. The choice between in-house and third-party data centers depends on the specific needs of the organization. Enterprises across North America and beyond are increasingly adopting cloud-based technologies to process and store their business data. DPaaS solutions provide a scalable and flexible alternative to traditional on-premises storage, allowing organizations to focus on their core business functions. By leveraging the expertise of DPaaS providers, businesses can ensure the security and availability of their data while reducing IT infrastructure costs.

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The STaaS segment was valued at USD 2.88 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

• APAC is estimated to contribute 36% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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In North America, the market is thriving due to the escalating number of cyber threats and the importance of safeguarding sensitive business data. The cloud model, with its scalable and flexible offerings, is a significant contributor to this growth. Cloud services, such as cloud storage, are increasingly being adopted by businesses to ensure data security and availability. One of the leading players in the North American DPaaS market is Cohesity. Consulting firms are also playing a crucial role in driving market growth by providing expert advice and implementation services. Strict data protection regulations and compliance requirements, such as those imposed by the government, are pushing organizations to invest in strong data protection solutions.

For instance, the GDPR, although enacted in the EU, has influenced North American businesses handling EU citizens' data to strengthen their data protection measures to avoid penalties and reputational damage. In summary, the DPaaS market in North America is witnessing substantial growth due to the increasing cyber threats, the adoption of cloud services, and the stringent data protection regulations. Companies like Cohesity and consulting firms are capitalizing on this trend to offer reliable and secure data protection solutions to businesses.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in adoption of Data Protection As A Service (DPaaS) Market?

An increase in the adoption of DPaaS among various industries is the key driver of the market.

• Data protection is an essential element for businesses in today's digital landscape. The demand for Data Protection as a Service (DPaaS) is on the rise, with various industries such as IT and finance (BFSI) recognizing its importance. Cybersecurity threats and data breaches are increasingly common, putting sensitive information at risk of exposure and loss. Cybersecurity technologists and companies are responding to this trend by offering advanced data protection services to help businesses fortify their defenses.
• Moreover, the number of cyber threats continues to grow in complexity, making it essential for companies to invest in strong security measures to safeguard their data. By partnering with DPaaS providers, businesses can access advanced technologies and expertise to protect against data leakage, data loss, and other cybersecurity risks. The need for data protection is more critical than ever, and DPaaS is becoming an indispensable solution for businesses looking to secure their digital assets.

What are the market trends shaping the Data Protection As A Service (DPaaS) Market?

Exponential growth in the volume of data is the upcoming trend in the market.

• In today's digital economy, the generation of data from smartphones, the Internet, and business processes has significantly increased, offering enterprises valuable assets for gaining competitive advantages. However, many traditional data centers are ill-equipped to manage and secure the vast amounts of data produced by modern applications and the growing digital landscape. Consequently, enterprises face the risk of losing critical data in the event of data loss or breaches, which can be detrimental to their growth. To mitigate these risks, enterprises are turning to Data Protection as a Service (DPaaS) solutions. DPaaS enables secure backup and management of data in various deployment modes, including hybrid cloud, ensuring business continuity and disaster recovery.
• Industry verticals, including healthcare, finance, and retail, are increasingly adopting DPaaS to strengthen their in-house security teams' capabilities and safeguard sensitive data. Hosted services in DPaaS provide enterprises with the flexibility to scale their data protection needs as their business grows. In the US market, enterprises are prioritizing data security and compliance with regulations such as HIPAA and PCI-DSS, making DPaaS an essential investment for businesses seeking to protect their digital assets.

What challenges does Data Protection As A Service (DPaaS) Market face during the growth?

The high cost of DPaaS is a key challenge affecting the market growth.

• Data Protection as a Service (DPaaS) is an increasingly adopted technology by businesses of all sizes in the US market. DPaaS enables companies to efficiently manage and secure their data records without the need for extensive IT infrastructure or personnel. However, the implementation of DPaaS solutions comes with a substantial investment. Providers of these services must maintain state-of-the-art data centers and employ skilled professionals to ensure data protection and security. The cost of these investments, along with ongoing maintenance and upgrades, can make DPaaS solutions a significant financial commitment for some businesses.
• Moreover, the Data Security Alliance, comprised of leading data security companies, focuses on the importance of strong data protection in the face of increasing data theft and triangulation threats. Implementing DPaaS solutions can provide businesses with peace of mind, knowing their sensitive data is securely managed and protected.

Exclusive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Acronis International GmbH
• Amazon.com Inc.
• Asigra Inc.
• Backblaze Inc.
• Barracuda Networks Inc.
• Broadcom Inc.
• Cohesity Inc.
• Commvault Systems Inc.
• Dell Technologies Inc.
• Hewlett Packard Enterprise Co.
• Hornetsecurity Ltd.
• International Business Machines Corp.
• Kaseya Ltd.
• Microsoft Corp.
• Oracle Corp.
• Rubrik Inc.
• SolarWinds Corp.
• Veeam Software Group GmbH
• Veritas Technologies LLC
• VMware Inc.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

In today's digital world, data protection and security services have become a top priority for businesses and individuals alike. Data protection as a service (DPaaS) has emerged as a crucial solution for businesses seeking to safeguard their data in the cloud era. With the increasing adoption of cloud model and cloud services, businesses are shifting their data to cloud storage. However, this transition comes with new challenges such as cyberattacks, data breaches, data compromises, data exposure, data leakage, data loss, and data theft. DPaaS offers businesses a multi-layered security system to mitigate these risks. Service providers offer consulting firms and enterprises recovery options for operational disasters and disaster recovery. The deployment mode can be public cloud, private cloud, or hybrid cloud, depending on the industry vertical and privacy concerns.

However, cybersecurity technologists and cybersecurity companies are leveraging next-generation technologies to provide DPaaS. These solutions offer scalability and cater to various deployment modes. DPaaS also addresses concerns related to data migration and data triangulation. Businesses, especially those in the IT infrastructure industry, are investing in DPaaS to secure their data records and primary profiles. The market for DPaaS is expected to grow significantly due to the increasing need for data security in the age of social distancing and teleworking. Data security companies and the Data Security Alliance are playing a crucial role in promoting awareness and implementing DPaaS solutions. The market for DPaaS is expected to grow significantly due to the increasing adoption of cloud services, the need for disaster recovery, and the rising concerns over data security.

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What are the Key Data Covered in this Market Research and Growth Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across North America, Europe, APAC, South America, and Middle East and Africa
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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