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The data protection as a service (Dpaas) market size is projected to increase by USD 87.57 billion at a CAGR of 46.02% between 2024 and 2028. The growth of the DPaaS market hinges on several key factors, including the escalating adoption of DPaaS across diverse industries, the burgeoning demand to streamline backup solutions, and recent advancements in technology such as big data as server market and data protection. However, challenges such as the exorbitant cost of DPaaS, bandwidth constraints within enterprises, and the potential for implementation failures impede growth. Despite these obstacles, the increasing integration of DPaaS across industries and the pressing need for streamlined backup solutions underscore its potential for market expansion. Recent technological developments in DPaaS further enhance its appeal and applicability, promising to address existing challenges and drive adoption. Navigating these challenges requires innovative solutions to mitigate cost barriers, overcome bandwidth limitations, and minimize implementation risks. By addressing these challenges head-on and capitalizing on growth drivers, the market can realize its full potential and foster widespread adoption across industries.
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In today's digital business landscape, the importance of it has become increasingly significant for organizations of all sizes and industry verticals. Cloud services have become the preferred deployment mode for businesses seeking scalability and management efficiency. DPaaS offerings provide next-generation technologies to safeguard critical data against cyberattacks and data breaches. Cloud storage solutions are a crucial component of DPaaS, ensuring data security for enterprises in the IT infrastructure industry. Data breaches and cyberattacks pose a significant threat to businesses, leading to potential financial losses and reputational damage. Data security companies offer to help mitigate these risks through various recovery options.
Paid databases and new product launches in the cloud model, including RAID Controller Cards, further enhance the market's growth. Scalability and customization are essential features, making it an attractive solution for businesses of all organization sizes and industry verticals. In summary, RAID Controller Cards play a vital role in protecting sensitive data in the cloud, enabling businesses to focus on their core competencies while ensuring data security and compliance. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
Recent development in DPaaS is the key factor driving the growth. In today's business landscape, the significance of data protection has grown exponentially. The Data Protection as a Service market is experiencing significant growth due to the increasing number of cyber threats and data breaches. Businesses across industries such as IT, BFSI, and others are recognizing the importance of safeguarding their sensitive data. This demand is driven by the need for advanced security measures to protect against cyberattacks and data compromises, exposures, leakages, and loss. Data protection services encompass cloud model offerings like Cloud services and Cloud storage, provided by companies such as Cohesity and consulting firms.
Moreover, next-generation technologies and a multi-layered security system are essential for businesses to mitigate risks from cybersecurity vendors. Deployment modes include Hosted services, Hybrid Cloud, and On-premises. Enterprises face privacy concerns and operational disasters, necessitating Data Security Alliance and data security companies' involvement. New product launches and management of data records require a robust data protection strategy, including disaster recovery for paid databases and protection of physical assets. Industry verticals prioritize Data triangulation and in-house security teams' collaboration with content protection providers. Thus, such factors are expected to drive the growth of content protection during the forecast period. These solutions play a critical role in safeguarding digital content and sensitive data across various deployment models, addressing evolving cybersecurity threats and regulatory compliance requirements effectively.
Exponential growth in the volume of data is the primary trend. In today's digital economy, businesses generate vast amounts of data from smartphones, the Internet, and digital processes. However, many legacy data centers are ill-equipped to handle this data volume, leaving enterprises vulnerable to data breaches, compromises, exposure, leakage, loss, and theft. To mitigate these risks, businesses are turning to DPaaS. This cloud model offers secure cloud storage solutions, such as those provided by Cohesity, to safeguard data records. Consulting firms and cybersecurity technologists recommend DPaaS for enterprises seeking advanced cybersecurity measures against cyberattacks.
Additionally, DPaaS also supports data migration and disaster recovery in various deployment modes, including hybrid and private cloud. Industry verticals, including IT infrastructure, rely on data security companies and next-generation technologies for multi-layered security systems. New product launches and operational disasters can lead to data loss and privacy concerns, making DPaaS an essential investment for businesses. Paid databases and primary profiles are valuable physical assets that require robust protection. DPaaS offers a cost-effective solution for businesses seeking to mitigate data risks while ensuring regulatory compliance. Moreover, Backup-as-a-Service (BaaS) complements DPaaS by providing scalable and secure data backup solutions without the need for on-premises infrastructure, further enhancing data protection capabilities across various deployment environments.
Bandwidth limitations among enterprises are major challenges impeding the growth, businesses opt for cloud model solutions to manage and secure their data records. Cloud services, including cloud storage, are provided by vendors and consulting firms, ensuring advanced technology and skilled cybersecurity technologists. However, the investment required for these services, including infrastructure, personnel, and ongoing maintenance, can be prohibitively expensive for some enterprises. DPaaS solutions offer protection against cyberattacks, data breaches, compromises, exposure, leakage, loss, and theft. They provide disaster recovery and data migration services, addressing operational disasters and physical asset protection. Industry verticals benefit from next-generation technologies, such as Cohesity, and multi-layered security systems.
Further, enterprises can choose between hosted services, hybrid cloud, and on-premises deployment modes. Paid databases and primary profiles require privacy concerns to be addressed by data security companies and the Data Security Alliance. New product launches and operational disasters necessitate a robust cybersecurity strategy, including next-generation technologies and in-house security teams. Thus, the above-mentioned factors are expected to hamper the growth during the forecast period.
The growth by the STaaS segment will be significant during the forecast period. In the Data Protection as a Service market, businesses opt for cloud model solutions to manage their data security. Cloud services, such as Cloud storage provided by companies like Cohesity, enable businesses to store and manage their data off-site or on-premises. DPaaS solutions offer enterprises various deployment modes, including hosted services and hybrid cloud, to address privacy concerns and cybersecurity threats. Cybersecurity technologists and consulting firms play a crucial role in implementing these solutions.
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The STaaS segment was valued at USD 2.88 billion in 2018. These solutions help businesses mitigate risks from cyberattacks, data breaches, data compromises, data exposure, data leakage, data loss, and data theft. Industry verticals, including IT infrastructure industry, rely on next-generation technologies and multi-layered security systems for data protection. Data Security Alliance and data security companies offer disaster recovery services, ensuring business continuity during operational disasters. Paid databases and primary profiles are essential assets that require robust protection. These solutions provide data triangulation capabilities, ensuring data security across various platforms. New product launches continue to address the evolving needs of enterprises, including physical assets and privacy concerns. Private cloud solutions offer an additional layer of security for businesses that prefer in-house security teams. Such factors will increase segment growth during the forecast period.
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APAC is estimated to contribute 36% to the growth of the global market during the forecast period.
Technavio's analysts have provided an extensive insight into the market forecast, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. The market in North America is thriving due to the surge in cyber threats and the necessity for robust data security solutions. With the rise of public cloud and public cloud services, there is an increasing demand for DPaaS that offers recovery options and scalability. Social distancing and teleworking have further accentuated the need for virtual asset protection. Strict regulations, such as those imposed by the government, add to the market's growth. Security concerns are paramount, and service providers are offering advanced services to help organizations comply with regulations and mitigate risks, avoiding potential penalties and fines.
The market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and trends strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Market analysis and report of 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.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments
In today's digital world, data protection has become a top priority for businesses and individuals alike. The Data Protection as a Service (DPaaS) market is witnessing significant growth as organizations seek expert assistance to secure their sensitive information. Clients look for Dependable, Advanced technology and Recognized vendors to manage their Data, ensuring its Confidentiality, Integrity, and Availability. DPaaS providers offer various services such as Data Loss Prevention, Encryption, and Tokenization, helping businesses comply with regulations like GDPR and HIPAA. Additionally, they provide Disaster Recovery and Backup solutions, ensuring Business Continuity in case of data breaches or system failures.
Moreover, with the increasing number of Cyberattacks and data breaches, the need for Data Protection as a Service is more critical than ever. Companies like Microsoft, IBM, and Amazon Web Services are leading players, offering comprehensive Data Protection solutions to their clients. Backup as a Service (BaaS) and Storage as a Service (STaaS) are essential offerings from Information Technology (IT) service providers for small and medium enterprises (SMEs). Identity and Access Management (IAM) is critical in securing virtual assets across industry verticals.
Market Scope |
|
Report Coverage |
Details |
Page number |
178 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 46.02% |
Market growth 2024-2028 |
USD 87.57 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
32.78 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
APAC at 36% |
Key countries |
US, China, Germany, UK, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
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, and VMware Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Business Segment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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