Global Data Protection as a Service (DPaaS) Market to be Led by Evolving Cybersecurity Threat Landscape
Escalating Data Volumes and Digital
Transformation propelling Global Data Protection as a Service (DPaaS) Market during
the forecast period 2018-2028
According to TechSci
Research report, “Global Data Protection as a Service (DPaaS) Market – By
Country, Competition, Forecast and Opportunities, 2018-2028F” The global data
protection as a service (DPaaS) market has emerged as a critical component in
the digital age, redefining how organizations safeguard their sensitive data
and ensure business continuity. DPaaS refers to a cloud-based service model
that delivers comprehensive data protection solutions, including backup,
disaster recovery, data encryption, and security, as a service. This approach
offers several advantages for businesses seeking to fortify their data defenses
while optimizing resource allocation.
One of the primary
drivers behind the growth of the DPaaS market is the increasing volume of data
generated by organizations worldwide. With the proliferation of digital
technologies, IoT devices, and cloud-based applications, the sheer magnitude of
data has become staggering. This data deluge presents a formidable challenge,
as organizations must not only store and manage their data effectively but also
protect it from a myriad of potential threats, including cyberattacks, data
breaches, and natural disasters. DPaaS addresses these challenges by providing
a scalable and cost-effective solution. Cloud-based data protection services
allow businesses to securely store their data in geographically dispersed data
centers, reducing the risk of data loss due to localized incidents. Moreover,
the pay-as-you-go pricing model inherent to DPaaS eliminates the need for hefty
upfront investments in hardware and software, making data protection accessible
to organizations of all sizes.
Cybersecurity concerns
also fuel the demand for DPaaS. As cyber threats continue to evolve in
complexity and sophistication, organizations are acutely aware of the need to
fortify their defenses. DPaaS providers offer advanced security features,
including encryption, threat detection, and real-time monitoring, to safeguard
data against cyberattacks. These security measures provide peace of mind to
organizations, knowing that their critical data is shielded from malicious
actors. Another significant driver is the increasing adoption of remote work
and distributed workforces. The COVID-19 pandemic accelerated the shift toward
remote work arrangements, making data protection a paramount concern. DPaaS
solutions enable organizations to extend data protection to remote employees,
ensuring that data remains secure, whether accessed from the office or remote
locations. Compliance with data protection regulations and privacy laws, such
as GDPR and CCPA, is yet another catalyst for DPaaS adoption. Non-compliance
can result in substantial fines and reputational damage. DPaaS providers offer
features like data encryption, access controls, and audit trails, assisting
organizations in meeting regulatory requirements and maintaining data privacy.
In conclusion, the global
data protection as a service (DPaaS) market is on an upward trajectory, driven
by the exponential growth of data, cybersecurity concerns, the rise of remote
work, and regulatory compliance mandates. DPaaS is no longer an option but a
necessity for organizations seeking to fortify their data defenses and ensure
business continuity in an increasingly digital and data-centric world. As
businesses recognize the importance of data protection, the DPaaS market is
poised for continued growth and innovation, providing a lifeline for
organizations navigating the complex landscape of data security and privacy.
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Data Protection as a Service (DPaaS) Market."
The Global Data Protection as a Service (DPaaS) market is segmented into
service type, deployment mode, organization size, end user. Based on service type,
the market is segmented into Storage-as-a-Service, Backup-as-a-Service, and
Disaster Recovery-as-a-Service. Based on deployment mode, the market is
segmented into private cloud, hybrid cloud and public cloud. Based on organization
size, the market is segmented into SMEs, and large enterprises. Based on end
user, the market is segmented into BFSI, healthcare, government & defense,
IT & telecom, and others.
Based on deployment mode,
the hybrid cloud segment in the global data protection as a service (DPaaS)
market emerges as the dominant and steadfast force, maintaining a commanding
influence that is projected to persist throughout the forecast period. The
ascendancy of the hybrid cloud in DPaaS is reflective of its ability to offer
organizations a harmonious blend of security, flexibility, and scalability.
Hybrid cloud solutions seamlessly combine the advantages of on-premises
infrastructure with the agility and cost-efficiency of the public cloud,
striking a balance that appeals to a wide spectrum of organizations across industries.
This deployment mode
allows organizations to retain sensitive data on their private, on-premises
infrastructure, ensuring maximum control and compliance, while also harnessing
the scalability and accessibility benefits of the public cloud for non-sensitive
data and backup needs. The hybrid cloud's versatility is particularly valuable
in an era where data is distributed across various environments, including
on-premises data centers, private clouds, and public clouds. As data protection
becomes increasingly pivotal in the digital age, the hybrid cloud's
adaptability positions it as the deployment mode of choice for organizations
seeking to fortify their data defenses while maintaining the flexibility to
adapt to evolving data protection requirements.
Key market players in the global Data
Protection as a Service (DPaaS) market include:
- IBM Corporation
- Amazon Web Services Inc.
- Hewlett Packard
Enterprise Company
- Dell Inc.
- Cisco Inc.
- Oracle Corporation
- VMware Inc.
- Commvault Systems Inc.
- Veritas Technologies LLC
- Asigra Inc.
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“North America undeniably
emerges as a dominant force in the global data protection as a service (DPaaS) market,
robustly solidifying its preeminent position, and unequivocally influencing the
direction of the industry's evolution. This regional dominance is the result of
a combination of factors that showcase North America's leadership in data
protection practices. With an expansive and diverse economy spanning the United
States and Canada, North America houses a vast array of industries, from
technology and finance to healthcare and manufacturing. As these industries
continue to generate unprecedented volumes of data, the need for robust data
protection becomes paramount. North American organizations have demonstrated a
proactive commitment to securing their digital assets, leveraging DPaaS
solutions as a cornerstone of their cybersecurity strategies. This proactive
approach stems from a deep understanding of the risks associated with data
breaches and cyber threats, as well as the imperative to maintain compliance
with a complex web of data protection regulations. Furthermore, the presence of
leading tech companies, cybersecurity pioneers, and cloud service providers in
North America has fostered an environment of innovation and competition that
drives the continual advancement of DPaaS offerings.
The region's pivotal role
is also evident in its influence on global data protection standards and best
practices. North American organizations often set the benchmark for data
security measures, inspiring counterparts around the world to adopt similar strategies.
In this evolving landscape, North America's unwavering leadership reaffirms its
enduring influence, not only within the DPaaS market but also in shaping the
broader industry's approach to safeguarding sensitive data in an era of digital
transformation and cyber challenges.” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based global management consulting firm.
“Global Data Protection as a Service (DPaaS)
Market Segmented by Service Type (Storage-as-a-Service, Backup-as-a-Service, and
Disaster Recovery-as-a-Service), By Deployment Model (Private Cloud, Hybrid
Cloud and Public Cloud), By Organization Size (SMEs, Large Enterprises), By End
User (BFSI, Healthcare, Government & Defense, IT & Telecom, and Others),
By Region, Competition, Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of
Data Protection as a Service (DPaaS) and provides statistics and information on
market structure, size, share, and future growth. the report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in the global data
protection as a service (DPaaS) market.
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