How Has The Data Protection As A Service (DPaaS) Market Size Evolved Historically?
The data protection as a service (dpaas) market has seen considerable growth due to a variety of factors.
• The market size of data protection as a service (DPaaS) has witnessed an explosive growth in the past few years. It is projected to expand from $31.99 billion in 2024 to $38.81 billion in 2025, clocking a compound annual growth rate (CAGR) of 21.3%.
The driving forces behind the historic growth phase include increased data breaches and cyber threats, strict data protection rules, elevated consciousness about data privacy issues, increasing adoption of cloud computing, and the expansion of remote and mobile workforce.
What Will Be The Data Protection As A Service (DPaaS) Market Size In The Future?
The data protection as a service (dpaas) market is expected to maintain its strong growth trajectory in upcoming years.
• Projected growth in the Data Protection as a Service (DPaaS) market is expected to be significant in the upcoming years. The market is expected to swell to a whopping $102.98 billion by the year 2029, with an anticipated Compound Annual Growth Rate (CAGR) of 27.6%.
The predicted growth during this period can be tied to factors such as the rising volume and diversity of data, the evolution of hybrid and multi-cloud environments, the shift towards zero trust security models, and the growing focus on data resilience and recovery. Additionally, emerging trends for this forecast period encompass cross-industry collaborations for threat intelligence, a move towards data-centric security, an escalation in the use of multi-cloud environments, and increased needs for data sovereignty and localization. The amalgamation of data protection and cybersecurity is also expected to be a significant trend.
What Key Factors and Trends are Driving the Growth of the Data Protection As A Service (DPaaS) Market?
The growing apprehension about data loss and data security is fueling the need for data protection as a service (DPaaS) in the market. The term data loss describes the disappearance of data due to internal aspects such as system failures or external factors like cyber-attacks. Global enterprises are recently showing increased unease about data security due to instances of data loss and data leakages. As an example, a US-based technology firm, Hitachi Vantara reported in June 2024 a dramatic spike in cyber-attacks. These attacks, which led to 2,365 breaches in the U.S. in 2023 affecting 343.3 million people, highlighted a shocking 72% ascent since 2021. They left many organizations seriously worried about their readiness to protect their data. The fact that 69% of IT leaders are anxious about their capacity to identify breaches early and 22% admit that crucial data remains without backup, is intensifying the need for Data Protection as a Service (DPaaS) solutions to address these critical issues.
What are the Market Segments in the Data Protection As A Service (DPaaS) Market?
The data protection as a service (DPaaS) market covered in this report is segmented –
1) By Service Type: Disaster Recovery As A Service, Backup As A Service, Storage As A Service
2) By Enterprise Size: Large Enterprise, SMEs
3) By Deployment Mode: Public Cloud, Private Cloud, Hybrid Cloud
4) By Industry: Banking, Financial Services And Insurance (BFSI), Telecom And IT, Government And Public Sector, Healthcare, Retail, Energy And Utilities, Manufacturing, Other Industries
Subsegments:
1) By Disaster Recovery As A Service (DRaaS): Cloud-Based Disaster Recovery, On-Premises Disaster Recovery Solutions
2) By Backup As A Service (BaaS): Cloud Backup Solutions, Hybrid Backup Solutions, Local Backup Solutions
3) By Storage As A Service (STaaS): Object Storage Services, Block Storage Services, File Storage Services
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What Trends are Shaping the Data Protection As A Service (DPaaS) Market?
The evolution of the data protection as a service (DPaaS) market is significantly impacted by the emerging technological advancements like linking of connected gadgets with the internet of things (IoT) and virtual private network (VPN). For example, Thales, a multi-national company recognized for its design, development, and production of electrical systems, unveiled the CipherTrust Data Security Platform in June 2023. This platform augments data protection by offering comprehensive security attributes like data encryption, access control, and compliance management, which permits organizations to effectively protect sensitive information across different environments.
Who Are the Key Players in the Data Protection As A Service (DPaaS) Market?
Major companies operating in the data protection as a service (DPaaS) market include:
• IBM Corporation
• Amazon. com Inc.
• Hewlett-Packard Development Company LP
• Commvault Systems
• VMware Software Private Limited
• Quantum Corporation
• veeam Software
• Dell Inc.
• Veritas Technologies
• Quest Software Inc.
• NxtGen Datacenter & Cloud Technologies Pvt. Ltd.
• Hitachi Vantara Corporation
• Atos SE
• Oracle Corporation
• McAfee Croporation
• NetApp Inc.
• Acronis International GmbH
• Cisco Systems Inc.
• Carbonite Inc.
• Druva Software Inc.
• Barracuda Networks Inc.
• Zerto Ltd.
• Unitrends Inc.
• Arcserve LLC
• Backupify
• CloudAlly Ltd.
• Datto Inc.
• Infrascale Inc.
• Rubrik Inc.
• Spanning Cloud Apps LLC
• StorageCraft Technology Corporation
What are the Regional Insights into the Data Protection As A Service (DPaaS) Market?
North America was the largest region in the data protection as a service (DPaaS) market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the data protection as a service (DPaas) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
