Market Outlook:

The Data protection as a service market size is poised to reach USD 21,054.76 Million by 2024, with a projected escalation to USD 99,379.36 Million by 2032, reflecting a compound annual growth rate (CAGR) of 29.53% during the forecast period (2024-2032). 

Data as a service have high demand as cloud-based services, and with all the data breaches and cyberattacks happening, the DPaaS market is getting pretty popular. Since everyone's jumping on the cloud computing bandwagon and there are new threats to critical infrastructures popping up, there's a bigger need for DPaaS. Plus, with all the fancy software tools, network infrastructures, and the ability to monitor and control multiple businesses from afar, companies and agencies are becoming way more vulnerable to those nasty cyberattacks. This is going to increase growth for the DPaaS market in the near future. The info tech industry has drastically changed from the time of providing solutions or products to a service delivery industry in recent years. So, with all these cool techs popping up like cloud computing and everyone jumping on the AI and machine learning bandwagon, we're seeing way more data being used and a bigger need for good data storage and security services. Plus, a bunch of small and medium-sized companies across different fields getting into this computing tech game has really ramped up the demand for better data protection solutions.

Market Dynamics:

Driver:

As the growth and popularity of cloud services are increasing, many companies want to upgrade their hosted services so that they can provide more scalable, managed, and recoverable benefits to their customers. Many companies that offer cloud storage and data security are designing a data protection as a service model that will serve the requirements of their customers and take the market forward. The frequency and magnitude of cyberattacks have increased manifold over the years. Organizations need to have a multi-layered, highly interconnected security system that can help reduce risks and prevent attacks. The rising threat and the growing security skills gap make in-house security teams insufficient to protect businesses. For this reason, it is now essential for such organizations to look into DPaaS solutions. Despite the increased rate of data breaches and cyberattacks, consumers do not seem to be concerned by the sharing of their personal data with third-party companies. According to SurfShark, 15 million data records globally were compromised in the third quarter of 2022 as a result of data breaches. The figure had gone up by approximately 37% from the previous quarter. Increased data breaches demand Data Protection-as-a-Service, which is a factor driving the market highly. Furthermore, the increase in the adoption of next-generation technologies, coupled with the growing migration of data to a cloud model for the purposes of achieving flexibility, agility, and optimizing cost savings, constitutes essential factors that contribute to market growth. Consequently, the need to safeguard and store critical data from threats such as data theft, data loss, and operational disasters prompts enterprises to prioritize data protection services and solutions in the cloud, significantly bolstering the growth of the market.

Restraint:

Despite sound security software and necessary precautionary measures that have been established to contain a data breach and theft incidence, many businesses and governments have witnessed many cyber-attacks over the last years. Unfilled jobs in cyber security due to lack of skilled personnel also provide a sound explanation to support protection of the data as a service. Widespread commercial misuse of spyware, several contentious regimes and involvement of many states in trading and monitoring closely in technologies related to data analysis have made the issue urgent and direly in need of improving data protection. Alongside, an increasing strictness of data protection laws like General Data Protection Regulation (GDPR) and Data Protection Act is driving the growth of this industry. Such laws demand from organizations generic data protection protocol creation to safeguard sensitive information and privacy. For instance, GDPR leaves no stone unturned to guard personal data against breach and unauthorized access and imposes heavy penalties in case of violations.

Opportunity:

DPaaS helps companies address data protection issues through cost-effective cloud services. The DPaaS operates in a multi-tenant model, which helps manage different types of services under one portal. After deployment, data protection as a service automatically delivers different virtual machine capacities for each individual server. In the last few years, a tremendous change has been observed in the overall development of product-based solutions. The disruptive aspect in these offerings is quite critical for the IT infrastructure sector. The companies operating in this sector are increasingly adapting to service models to achieve business outcomes in front of their consumers as well as vendors. These service-based models are essentially due to the increased interest in resiliency. As companies and businesses have to deal with large data, it has become more necessary for them to offer comparable data protection services to the clients. Moreover, the constantly rigorous regulations and standards added such as the General Data Protection Regulation (GDPR), Data Protection Act along increase the burden on enterprises to be responsive toward compliance. This implies there is increased pressure within organizations to carry out comprehensive risk assessments and focus towards complying with their frameworks showing an accountability. As stringent requirements have been mounted, data protection services prove more effective to tackle the issues associated with the challenges facing enterprise and mitigating exposure to risks of data protection. In this regard, this approach comprehends collaborative effort towards strategizing, compliance of relevant regulations, monitoring artifacts and processes related to data protection, and providing incident response capabilities.

Key Players:

• AWS (US)
• Microsoft (US)
• IBM (US)
• Oracle (US)
• Dell Technologies (US)
• Quantum Corporation (US)
• Huawei (China)
• HPE (US)
• VERITAS (US)
• ATOS SE
• Hewlett Packard Enterprise Development
• Hitachi Vantara Corporation
• Thales Group
• MUSARUBRA US LLC (MCAFEE LLC)
• Micro Focus International Plc
• NETAPP Inc
• VOLICO Data Centers
• Cohesity Inc
• NXTGEN Datacenter

Recent Development:

• In August 2024, Commvault enhanced its cybersecurity ecosystem via integration with key partners-a cadre of partners which includes Acante, Dasera, Google Cloud, Splunk, and Wiz. In a strategic alignment, the partnership must advance data protection methodology in terms of resilience and flexibility based on the evolving challenges posed by cyber performance.

Segment Insights:

By Deployment

The private cloud deployment gained significant traction in the global market throughout 2023. Unlike public cloud options, it provides dedicated, isolated, and secure environments that protect against cybersecurity threats and data breaches. As regulations tighten and new ones emerge, organizations are increasingly opting for private cloud solutions to meet their data privacy requirements. Additionally, the demand for customized and flexible data protection strategies aligns perfectly with private cloud infrastructure, which is often tailored to fit the specific needs of an organization and its workloads. Furthermore, the ongoing trends in digital transformation, driven by the growing volume of data generated by businesses, are likely to boost the adoption of private clouds, as they offer comprehensive backup, recovery, and data management capabilities, albeit without an absolute guarantee.

By Organisation Size

In 2023, the large enterprise segment dominated the data protection as a service market. Large enterprises have massive volumes of data to be processed and require a specialized cloud service platform for this purpose. This is primarily due to their complex requirements in terms of operations and large IT budgets. As such, the large enterprises, with extensive resources and an already existing IT setup, have adopted cloud-based service platforms within their existing framework. Moreover, the stringent security, compliance, and governance requirements created a need for more evolved cloud brokerage services, which has therefore further cemented their stranglehold on the marketplace. In addition, growing innovations in cloud computing along with strategic investments by businesses have made it easier and cheaper for SMEs to implement secure data protection strategies without heavy on-premises infrastructures. For instance, Commvault recently announced the acquisition of Appranix in April 2024, which boosts and enhances Cyber Resilience for enterprises.

Regional Insights:

In 2023, the European market for data protection as a service made a significant contribution to the global industry. Key factors driving this region include the growing adoption of cloud-based services, an increasing number of small and medium enterprises, and strict data protection regulations. Concerns about data breaches and cyberattacks have spurred market growth, as more organizations seek to safeguard their sensitive information. Additionally, stringent regulations like the General Data Protection Regulation (GDPR), an EU law, are influencing companies' abilities to protect customer data and implement effective data protection measures. The UK data protection as a service market held the largest share of the regional industry in 2023. This growth in the DPaaS market was driven by advancing technology, strict national data protection laws, and a strong presence of financial institutions. Major players such as Barclays, HSBC, and Lloyds Banking Group in the UK have fostered competition and innovation within the DPaaS market. Furthermore, the increasing adoption of next-generation technologies like IoT, AI, and 5G is boosting the demand for DPaaS solutions, further propelling growth in the region.

Segmentation:

By Service Type 

• Disaster Recovery as a Service (DRaaS)
• Backup as a Service (BaaS)
• Storage as a Service (STaaS))

By Deployment 

• Public Cloud
• Private Cloud
• Hybrid Cloud

By Organization Size 

• Small & Medium Enterprise
• Large Enterprise

By End-user Industry 

• BFSI
• Healthcare
• Government and Defense
• IT and Telecom
• Others

By Region

North America

• USA

• Canada

• Mexico

Europe

• France

• UK

• Spain

• Germany

• Italy

• Rest of Europe

Asia Pacific

• China

• Japan

• India

• South Korea

• Rest of Asia Pacific

Middle East & Africa

• GCC

• South Africa

• Rest of the Middle East & Africa

South America

• Brazil

• Argentina

• Rest of South America

What to Expect from Industry Profile?

1. Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the Data Protection as a Service market in the world.

2. Use the PORTER’s Five Forces analysis to determine the competitive intensity and therefore market attractiveness of the Global Data Protection as a Service market.

3. Leading company profiles reveal details of key Data Protection as a Service market players’ global operations, strategies, financial performance & recent developments.

4. Add weight to presentations and pitches by understanding the future growth prospects of the Global Data Protection as a Service market with forecast for the decade by both market share (%) & revenue (USD Million).

FAQ’s

1) What are the major factors driving the growth of the Global Data Protection as a Service Market?

• Growing Concerns Over Data Security and Privacy are the major factors driving the growth of the Global Data Protection as a Service Market

2) What would be the CAGR of the Global Data Protection as a Service Market over the forecast period?

• The Global Data Protection as a Service Market is poised to grow at a CAGR of 29.53% from 2024 to 2032.

3) Which region will provide more business opportunities for the growth of the Global Data Protection as a Service Market in the future?

• The Europe region is expected to create more opportunities in the market.

4) Who are the major players dominating the Global Data Protection as a Service Market?

• AWS (US), Microsoft (US), IBM (US), Oracle (US), Dell Technologies (US), Quantum Corporation (US), Huawei (China), HPE (US), VERITAS (US), ATOS SE, Hewlett Packard Enterprise Development, Hitachi Vantara Corporation, Thales Group, MUSARUBRA US LLC (MCAFEE LLC), Micro Focus International Plc, NETAPP Inc, VOLICO Data Centers, Cohesity Inc, NXTGEN Datacenter, Others

5) What are the segments in the Global Data Protection as a Service Market?

• By Service Type, By Deployment, By Organization Size, By End-user Industry are the industry key segments considered for research study.

6) What is the estimated market revenue for the Global Data Protection as a Service Market in 2032?

The estimated revenue for the Global Data Protection as a Service Market in 2032 is USD 99,379.36 Million.