Portland, OR, July 29, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global data protection as a service (DPaaS) market is expected to garner $28.87 billion by 2022, registering a CAGR of 31.5% during the period 2016 to 2022. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenario.
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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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.
Get detailed COVID-19 impact analysis on the Data Protection As A Service (dpaas) Market
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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