Market Size of Data Protection as a Service Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 24.51 Billion |
Market Size (2029) | USD 100.65 Billion |
CAGR (2024 - 2029) | 32.64 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Data Protection as-a-Service (DPaaS) Market Analysis
The Data Protection as a Service Market size is estimated at USD 24.51 billion in 2024, and is expected to reach USD 100.65 billion by 2029, growing at a CAGR of 32.64% during the forecast period (2024-2029).
With the increased growth and popularity of cloud services, many businesses are looking to enhance their hosted services to give them better benefits, such as higher scalability, management, and recovery options. Various cloud storage and data security companies are developing data protection as a service model to meet better their client's needs, which propels the market forward.
Over time, the frequency and scale of cyberattacks have grown significantly. Organizations need a multi-layered, highly connected security system to mitigate risks and prevent attacks. With this growing threat and the increasing security skills gap, in-house security teams are no longer sufficient to protect businesses. Therefore, it has become inevitable for such organizations to look towards Data Protection as a Service (DPaaS) solution.
Even though the number of data breaches and cyberattacks has increased, customers are not afraid of sharing their data with third-party companies. As per SurfShark, during the third quarter of 2022, around 15 million data records were exposed worldwide through data breaches. It had increased by about 37% compared to the previous quarter. This rise in data breaches necessitates Data Protection-as-a-Service, driving the market's growth significantly.
Moreover, the surge in the adoption of next-generation technologies and rising data migration to a cloud model to gain flexibility and agility and optimize cost savings are vital factors contributing to market growth. Thus, safeguarding and storing critical data from data theft, data loss, and operational disasters influences enterprises to consider data protection services and solutions over the cloud, drastically enhancing the market's growth.
However, the rise in concerns regarding privacy and security might be a factor that could amplify the overall growth rate of the market throughout the forecast period.
Several governments and public and private organizations have introduced measures to tackle this crisis and help limit the spread of COVID-19. From social distancing to (where possible) mandatory teleworking, discontinuing nonessential physical meetings, and promoting hand hygiene protocol, the way people live, and work has changed. The enforcement of these measures can entail private-invasive actions that require efficient means of data protection by public institutions and private companies, which could positively impact the Data Protection as a Service market.
Data Protection as-a-Service (DPaaS) Industry Segmentation
Data Protection as a Service (DPaaS) is typically defined as any cloud-based or online-delivered service developed to protect the specific data of various organizations. It implements protection by creating a copy of the data and storing it in a separate location, whether online, in the cloud, or on an external device. Besides, DPaaS providers also offer various other metrics such as data analysis software, firewalls, and VPNs or tunnels designed to enhance security for remote workers.
The Data Protection as a Service Market is segmented by Service (Storage-as-a-Service, Backup-as-a-Service, Disaster Recovery-as-a-Service), Deployment (Public Cloud, Private Cloud, Hybrid Cloud), End-user Industry (BFSI, Healthcare, Government and Defense, IT and Telecom), and Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.
Service | |
Storage-as-a-Service | |
Backup-as-Service | |
Disaster Recovery-as-a-Service |
Deployment | |
Public Cloud | |
Private Cloud | |
Hybrid Cloud |
End-user Indsutry | |
BFSI | |
Heathcare | |
Government and Defense | |
IT and Telecom | |
Other End-user Industries |
Geography | |||||||
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Data Protection as a Service Market Size Summary
The Data Protection as a Service (DPaaS) market is experiencing significant growth, driven by the increasing adoption of cloud services and the rising frequency of cyberattacks. As organizations seek to enhance their data security measures, the demand for DPaaS solutions is escalating. This trend is further fueled by the growing need for scalable, manageable, and recoverable data protection options. The shift towards cloud-based models is also influenced by the need for flexibility, agility, and cost optimization in data management. Despite concerns over privacy and security, the market is poised for substantial expansion as businesses increasingly rely on third-party services to safeguard their data from breaches and operational disasters.
North America is expected to lead the DPaaS market, supported by a high level of awareness and demand for implementation. The presence of major players like IBM, Cisco, and Amazon Web Services in the region contributes to its dominance. The market's growth is further bolstered by the rise in data breaches and the shift from private servers to cloud networks, necessitating robust backup and recovery solutions. The competitive landscape is marked by innovation and strategic partnerships, as companies strive to enhance their market presence and address the evolving challenges in data protection.
Data Protection as a Service Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Stakeholder Analysis
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Service
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2.1.1 Storage-as-a-Service
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2.1.2 Backup-as-Service
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2.1.3 Disaster Recovery-as-a-Service
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2.2 Deployment
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2.2.1 Public Cloud
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2.2.2 Private Cloud
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2.2.3 Hybrid Cloud
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2.3 End-user Indsutry
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2.3.1 BFSI
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2.3.2 Heathcare
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2.3.3 Government and Defense
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2.3.4 IT and Telecom
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2.3.5 Other End-user Industries
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.2 Europe
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2.4.2.1 United Kingdom
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2.4.2.2 Germany
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2.4.2.3 France
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2.4.2.4 Spain
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2.4.2.5 Rest of Europe
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2.4.3 Asia Pacific
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2.4.3.1 China
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2.4.3.2 India
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2.4.3.3 Japan
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2.4.3.4 Rest of Asia Pacific
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2.4.4 Latin America
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2.4.4.1 Brazil
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2.4.4.2 Argentina
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2.4.4.3 Mexico
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2.4.4.4 Rest of Latin America
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2.4.5 Middle East and Africa
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2.4.5.1 United Arab Emirates
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2.4.5.2 Saudi Arabia
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2.4.5.3 South Africa
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2.4.5.4 Rest of Middle East and Africa
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Data Protection as a Service Market Size FAQs
How big is the Data Protection as a Service Market?
The Data Protection as a Service Market size is expected to reach USD 24.51 billion in 2024 and grow at a CAGR of 32.64% to reach USD 100.65 billion by 2029.
What is the current Data Protection as a Service Market size?
In 2024, the Data Protection as a Service Market size is expected to reach USD 24.51 billion.