Data Protection as a Service Market to Garner USD 170.54 Billion by 2030 – 27.2% CAGR Registered
The growing adoption of next-generation technologies and increasing migration of cloud data are factors contributing to market growth.
PORTLAND, PORTLAND, OR, UNITED STATE, September 15, 2022 /EINPresswire.com/ — Allied Market Research published a new report, titled, “Data Protection as a Service Market to Garner USD 170.54 Billion by 2030 – 27.2% CAGR Registered .” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global DPaaS market is expected to garner $28.87 billion by 2022, registering a CAGR of 31.5% during the period 2016 to 2022.
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The report offers key drivers that propel the growth in the global XXXX market. These insights help market players in devising strategies to gain market presence. The research also outlined restraints of the market. Insights on opportunities are mentioned to assist market players in taking further steps by determining potential in untapped regions.
Growing concerns regarding data loss, increase in need for data backups and archives, and governance, risk, and compliance requirements for storage have augmented the growth of the global data protection as a service (DPaaS) market. However, high incurrence of cost and complexity in cloud DPaaS deployment hamper the growth to certain extent. Moreover, increase in demand for cloud-based disaster recovery & backup for virtual machines and integration of backup services and recovery would create a number of opportunities in the near future.
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The global data protection as a service (DPaaS) market is segmented on the basis of deployment model, service type, end user, and regions. Based on service type, the STaaS segment dominated the global market in 2015, accounting for the highest market share. On the other hand, DRaaS segment is anticipated to grow at a CAGR of 32.6% during the forecast period.
Based on end user, the large enterprises segment held the highest market share in 2015, and is projected to continue their dominance throughout the forecast period. Nevertheless, the SMEs segment is anticipated to witness the fastest growth in between 2015 to 2022.
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Based on region, the North America region dominated the market in 2019, and would rule throughout the forecast period. However, Asia-Pacific region is estimated to grow at the fastest growth rate during the forecast period.
Key market players in the DPaaS market that are profiled in the report include HP Development Company, L.P., IBM Corporation, Amazon Web Services, Inc., Commvault Systems, Inc., EMC Corporation, VMware, Inc., Quantum Corporation, Asigra, Inc., Veritas Technologies, and Cisco Systems.
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Covid-19 Scenarios:
• Unlike other industries, the global data protection as a service (DPaaS) market has not been much affected amid global lockdown.
• Rise in adoption of remote working system by multiple industries has increased the demand for privacy and security. This, in turn, has aided the market in terms of revenue.
KEY FINDINGS OF THE STUDY
• By Service, in 2020 the STaaS dominated the DPaaS market.
• Depending on deployment, the private generated the highest revenue in 2020 of DPaaS market share. However, the hybrid segment is expected to exhibit significant growth during the forecast period.
• Region wise, the DPaaS industry was dominated by North America region. However, Asia-Pacific is expected to witness significant growth in the upcoming years.
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