Data Protection as a Service (DPaaS) Demand Scaling Well with Increasing Cloud Workloads

The three leading providers of data protection as a service models in 2015 were EMC Corporation, HP Development Company, L.P., and Amazon Web Services, Inc. They held leading shares in DPaaS consistently till now and are additionally showing a high rate of growth over the coming years. The data protection as a service models provided by IBM Corporation are considered to hold strong potential.

As per a new publication by Transparency Market Research, the global market for data protection as a service is in a state of intense competition, due to the high proliferation of cloud computing in multiple industries and sectors around the world. With data recovery and disaster management of data fast becoming the top priorities of both large enterprises and SMEs, the providers of data protection as a service are situated in a highly promising position of growth till 2024.

The global market for data protection as a service is expected to show an astronomical CAGR of 30.1% within the forecast period from 2016 to 2024, with respect to its revenue. The revenue is expected to be US$5.66 bn by the end of 2016 and is projected to reach US$46.40 bn by the end of 2024.

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North America, with its massive IT industry and the growing scope of cloud computing in the public sector, is expected to retain its dominant share in the global market for data protection as a service. By the end of 2024, North America is expected to generate as much as US$14.07 bn in DPaaS revenue.

Asia Pacific on the other hand is expected to be the faster region in terms of demand for data protection as a service. This region’s DPaaS market is projected at a CAGR of 33.6% from 2016 to 2024.

Globally, the private cloud has been the more preferred deployment model for data protection as a service. This segment is expected to generate US$20.123 bn by the end of 2024. Meanwhile, hybrid clouds are expected to show the faster growth in demand as far as the deployment of DPaaS is concerned. It is projected at a CAGR of 31.1% from 2016 to 2024.

This 94 page report gives readers a comprehensive overview of the Data Protection as a Service Market. Browse through Table.

One of the key drivers for the global data protection as a service market is the staggering volumes of workload taken up by the cloud computing application markets. There is a very high degree of virtualization today, with SaaS, PaaS, and IaaS being pushed across multiple industry verticals. The overall workload is rapidly migrating from conventional data centers to cloud-based platforms.

“With greater cloud-based workloads will come a greater need for data protection. This is where the providers of data protection as a service come in, supplying the needful,” states a TMR analyst.

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The analyst adds, “There is still an immense scope of growth left for data protection as a service providers in emerging economies, especially the Asia Pacific region. India, China, and Southeast Asia are expected to become key regions in the utility of cloud computing, thus becoming key sources of finding users for data protection as a service solutions.

Key Takeaways:

Private cloud DPaaS deployment models to accrue a revenue of US$20.12 bn by 2024.
Disaster recovery as a service to become leading service in DPaaS, generating a revenue of US$19.73 bn by 2024.
Large enterprises take up greater share of data protection as a service solutions, creating a projected revenue of US$23.46 bn by 2024.

Key segments of the Data Protection as a Service (DPaaS) Market

Global Data Protection as a Service Market, by Deployment Model

Public Cloud
Private Cloud
Hybrid Cloud

Global Data Protection as a Service Market, by Services

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

Global Data Protection as a Service Market, by End Users

Large Enterprises
Small & Medium Enterprises (SMEs)

Global Data Protection as a Service Market, by Region

North America
Europe
Asia Pacific
Rest of the World

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