The global data protection as a service (DPaaS) market was US$ 11.79 billion in 2020. The global data protection as a service (DPaaS) is forecast to reach the value of US$ 162.15 billion by 2030 by growing at a compound annual growth rate (CAGR) of about 30.2% during the forecast period from 2021-2030. Data Protection as a service (DPaaS) is a cloud-based web delivery service that helps preserve business data with excellent security features. 

COVID-19 Impact Analysis

The wake of the COVID-19 pandemic fueled the adoption of technology. Businesses began depending on technology to enable remote workforces. The demand for cloud platforms suddenly raised. Thus, it increased the necessity of data security services, backup, and recovery, etc. As a result of the changing era, the global data protection as a service market may grow incredibly fast.

The cybercrime cases suddenly grew during the pandemic. It mandated the demand for measures to save data from fraudulent activities. As a result, the market grew significantly during the pandemic period. 

Factors Influencing

• Small, medium and large enterprises use DPaaS to protect the data. In the growing era of cloud computing, reliability on the internet has surged the demand for data protection. Moreover, sensitive data can lead to harm if it gets hacked. Thus, the companies adopt DPaaS to enhance the security of the data. The market is forecast to grow rapidly with the growing use of the internet. 
• The different demands of the business enterprises can present significant opportunities for the market players thriving in the global data protection as a service (DPaaS) market. Moreover, the events of partnership may result in significant growth in the coming years.
• The growing advancements and the deployment of data centers may create favorable opportunities for market growth. 
• The global data protection as a service (DPaaS) industry is forecast to gain traction, owing to the increasing cases of cyber threats globally. 
• High initial costs associated with this platform may negatively impact the growth of the global DPaaS market.

Geographic Analysis

Geographically, the global data protection as a service (DPaaS) market is growing rapidly in North America. The market is forecast to witness notable growth by recording the highest revenue during the estimated period. It is due to the booming growth of the I.T domain and cloud-based computing. 

The Asia-Pacific is forecast to lead with the second-highest revenue generation. It is due to the increasing adoption of cloud-based computing. As the demand for cloud-based computing would increases, the demand for data protection services would also increase. As a result, the global market for data protection as a service (DPaaS) would expand in the Asia Pacific region. 

Market Segmentation

By Deployment Model

• Public cloud
• Private cloud
• Hybrid cloud

By End-User

• Large Enterprise
• Small and Medium Enterprises

By Service Type

• DRAAS
• BAAS
• STAAS

By Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America

Competitors in the Market

• IBM Corporation
• Amazon Web Services, Inc.
• Hewlett-Packard Development Company, L.P.
• Commvault Systems, Inc.
• EMC Corporation
• VMWARE, Inc.
• Quantum Corporation
• Asigra, Inc.
• Veritas Technologies
• Cisco Systems
• Other Prominent Players