The Global DPaaS market was valued at US 4.50 Billion in 2015 and is expected to reach US 46.40 Billion by 2024, at a Compound Annual Growth Rate CAGR of 30.1% during the forecast period.
Reasons for market boom
The market is witnessing a boom specifically due to increasing amount of business data from big business houses, need for data backup and recovery, growing concern for loss of data and data storage. In addition, the advancement in cloud computing and software-defined data centers has further accelerated the need for data protection in the current business environment. However, high installation & maintenance cost and lack of skilled employees are the major restraining factors for the growth in the market.
This market is primarily segmented based on deployment model, service type, end user, and geography. The deployment model is further segmented into public, private and hybrid cloud. The service model includes Disaster Recovery as a Service DRaaS , Backup as a Service BaaS , and Storage as a Service STaaS . The end-user category is primarily segmented into large, medium and small enterprises.
For better understanding of the market penetration of Data Protection as a Service, the market is analyzed based on geographies and includes the countries in North America North America U.S., Canada, Mexico & Rest of North America , Europe UK, Germany, France, Russia, Italy, Spain & Rest of Europe , Asia-Pacific China, Japan, India, South Korea, Singapore, Japan & Rest of Asia-Pacific regions and LAMEA Brazil, Argentina, UAE, Saudi Arabia, South Africa, Israel & Rest of LAMEA regions . North America dominates the market specifically due to the presence of developed economies in its region, which require increasing amount of business data, thereby displaying the need for data backup & recovery systems. With the evolution of cloud computing in Asia-Pacific countries, the market is fueled to witness a tremendous growth.
Key market players
The report also highlights few prominent players operating in the Data Protection as a service market. Key companies profiled in the report include IBM Corporation U.S. , Amazon Web Services U.S. , Inc., HP Development Company, L.P U.S. , Commvault Systems, Inc U.S. , EMC Corporation U.S. , VMware, Inc. U.S. , Quantum Corporation U.S. , Asigra, Inc. Canada , Veritas Technologies U.S. , and Cisco Systems U.S. .
Global Market Insight on Data Protection as a Service:
Market Insight, by Deployment Model
Market Insight, by Service Type
Disaster Recovery as a Service DRaaS
Backup as a Service BaaS
Storage as a Service STaaS
Market Insight, by End User
Small and Medium Enterprises
Market Insight, by Region
North America Data Protection as a Service Market Insight
Rest of North America
Europe Data Protection as a Service Market Insight
Rest of Europe
Asia-Pacific Data Protection as a Service Market Insight
Rest of Asia-Pacific
Middle East Africa Data Protection as a Service Market Insight
United Arab Emirate
Kingdom of Saudi Arabia
Rest of MENA
Latin America Data Protection as a Service Market Insight
Rest of Latin America
Amazon Web Services, Inc.
HP Development Company, L.P.
Commvault Systems, Inc.
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