Portland, OR , April 12, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global data protection as a service (DPaaS) market generated $15.49 billion in 2020, and is projected to reach $170.54 billion by 2030, growing at a CAGR of 27.2% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Rise in concerns about data loss among people and organizations across the globe, surge in need for data backups & archives, and growth in demand for data protection in the current business scenario among cloud service providers are expected to drive the growth of the global data protection as a service market. On the other hand, exorbitant incurrence costs of the service are expected to hamper the growth to some extent. However, an increase in demand for cloud-based disaster recovery and backup is expected to create immense opportunities for the industry.
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COVID-19 Scenario
- The outbreak of COVID-19 has had a remarkable impact on the growth of the global data protection as a service market, owing to increase in adoption of innovative technologies such as deep learning, IoT, machine learning, others across the globe during lockdowns.
- Prevalence of WFH policies in various organizations also impacted the market positively.
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The report offers a detailed segmentation of the global data protection as a service market based on service type, deployment mode, enterprise size and region.
Based on enterprise size, the large enterprise segment generated the highest market share in 2020, garnering more than three-fifths of the total market. The SMEs segment, on the other hand, is expected to cite the fastest CAGR of 29.5% during the forecast period.
Based on deployment mode, the public cloud segment held the majority share in 2020, holding more than half of the total data protection as a service industry. The hybrid cloud segment, on the other hand, is expected to exhibit the fastest CAGR of 32.2% during the forecast period.
Based on region, the market across North America held the lion’s share in 2020, accounting to two-fifths of the total market. The market across Asia-Pacific, on the other hand, is expected to cite the fastest CAGR of 31.5% during the forecast period.
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The key market players analyzed in the global data protection as a service (DPaaS) market report include L.P., COMMVAULT SYSTEMS, VMWARE INC., QUANTUM CORPORATION, ASIGRA, Inc., IBM Corporation, Amazon Web Services Inc., EMC CORPORATION, VERITAS TECHNOLOGIES, CISCO SYSTEMS, Quantum Corporation.
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