NEW YORK, May 9, 2022 /PRNewswire/ -- As per a study by Persistence Market Research, from US$ 28.0 Billion in 2022 to US$ 361.5 Billion in 2032, the global data protection as a service (DPaaS) market is predicted to grow at a 29.2% CAGR from 2022 to 2032. The Absolute Dollar growth of the market is US$ 333.5 Billion. DPaaS help companies to take of such data protection issues by offering cost efficient cloud services. The DPaaS is a multi-tenant model that helps management of a wide range of services via a single portal.
After deployment, data protection as a service effortlessly offers different virtual machines capacities for each and every server.In recent years, there has been a radical shift in the overall evolution of product-based solutions. These offerings have disrupted the IT infrastructure sector. The companies operating in the sector are growingly adopting service models to deliver business outcomes to their consumers as well as vendors.
Moreover, the growing stringency in regulations and standards, such as the GDPR policy and Data Protection Act, continues to put more obligations on enterprises to comply. As a result, it builds more pressure on the enterprises to carry out regular checks and focus on their compliance framework to evidence their accountability. Besides, the advent of cloud computing and software-defined data centers with virtualized infrastructure components are expected to further fuel growth prospects.
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Key Takeaways
- Private Cloud is expected to grow at a high rate in the deployment model type of the Data Protection as a Service (DPaaS) Market, with a CAGR of 29.5% during the forecast period.
- The Data Protection as a Service (DPaaS) Market in the US is expected to be worth US$ 72.5 billion by 2032, with a CAGR of 26.8% over the forecast period.
- The market size for Data Protection as a Service (DPaaS) in China is expected to reach $54.1 billion by 2032, growing at a CAGR of 32.8% during the research period.
- Japan is expected to reach a market size of US$ 33.6 billion in the Data Protection as a Service (DPaaS) Market by 2032, with a CAGR of 30.7% during the research period.
- Brazil is expected to have a market size for Data Protection as a Service (DPaaS) of US$ 19.9 billion by 2032, with a CAGR of 28.7% during the research period.
- By 2032, Australasia is expected to reach a market size of US$ 4.4 billion in the Data Protection as a Service (DPaaS) Market, with a CAGR of 34.2% during the research period.
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"The deployment of DPaaS has increased in organizations across the globe, owing to the advantages of better network security and advanced data security, which in turn is expected to propel the market growth," remarks a PMR analyst.
Competitive Landscape
The global market for Data Protection as a Service (DPaaS) is extremely fragmented, with many major and small enterprises operating at the regional and country levels. Prominent players in the Data Protection as a Service (DPaaS) Market are IBM Corporation, Cisco Inc., Dell Inc., Amazon Web series Inc., Veritas Technologies LLC, HP Development Company, Microsoft, Oracle Corporation, Quantum Corporation, Asgira Inc., among others.
- In April 2020, The Hitachi Virtual Storage Platform (VSP) E990 was developed by Hitachi Vantara. This is the latest storage platform for midsize corporate users from the company. Low latency on the E990 enhances enterprise applications, and data backup lowers processing costs.
- In November 2019, Nutanix, Inc. had published the results of its second worldwide Enterprise Cloud Index survey & research study, which evaluates how organizations are performing with private, hybrid, and public cloud usage. The report found that firms are aiming to transfer their expenditures to hybrid cloud architectures rapidly in the years ahead, with organizations reporting steady and large hybrid deployment intentions.
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Find More Valuable Insights on Data Protection as a Service (DPaaS) Market
Persistence Market Research puts forward an unbiased analysis of the global Data Protection as a Service (DPaaS) Market, providing historical demand data (2015-2021) and forecast statistics for the period of 2022-2032. To understand the opportunities in Data Protection as a Service (DPaaS), the market is segmented on the basis of deployment model, services, and end-user across five major regions.
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