New York City, NY, 09 October, 2019/ 24 Market Reports: With a CAGR of 32% in the forecast period, the data protection as a service market is estimated to reach $28,878 million by 2022. The increasing amount of business data has been boosting the market with rendered data backup and recovery as one of the most challenging issues. Not only for big companies but also small and medium-sized companies are concerned about the loss of data.
Big data, hybrid data, and data accused by ubiquitous mobile devices are the sources where the data that are difficult to protect are been stored. To reduce costs and consequences of loss the advanced data protection tools have been developed by many vendors.
Increase in cloud computing has increased the DPaaS market
In the current business scenario, the demand for data protection has been boosted with the advent of cloud computing and software-denied data centres with virtualized infrastructure components delivered as a service. Data Protection as a Service (DPaaS) has been evolved out of a need for a common service for data protection by cloud service providers. DPaaS is a web-delivered cloud-based service designed to safeguard data assets of the business. Several companies deploy DPaaS for better network security and advanced data security for data in transit as well as data at rest.
The increasing demand for private cloud is been taking place
Public, private, and hybrid clouds are the various deployment models that the study of global DPaaS market focuses on. The need for private cloud is been rising in the large enterprises and SMEs. Features such as greater data security and other advancements have been fuelling the deployment of DPaaS in these enterprises. Further, based on the regional analysis the study focuses on various growth aspects and market restraints.
Deployment model, service type, end-users, and geography are the segmentations of the market. The private cloud category of the service type dominated the market in terms of revenue. STaaS was the leading category based on the service type of segment.
North America is expected to maintain its dominance in the forecast period
It has been witnessed that most of the end-users of this market are the large enterprises. However, in terms of the growth rate SMEs are expected to surpass the large enterprises. North America is expected to maintain its dominance in the forecast period. It generated the highest revenue in the year 2015.
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