The high demand for data protection to be more cost-effective is currently the key driver promoting the providers of data protection as a service. Coupled with the growing need for disaster recovery applications, players in the data protection as a service market are poised to become some of the more sought-after entities in the IT industry. Their ability to store critical data safely and remotely provides one of the better disaster recovery management methods.
Additionally, providers of data protection as a service can currently offer these services at lower prices thanks to the falling costs of cloud-based data storage. The intensely competitive cloud computing scenario is allowing end users to avail quality services at lower prices than before, including DPaaS.
However, the key concern of questionable data security and privacy issues are still a key concern for individuals and companies seeking to avail data protection as a service models. This threat to the market is expected to fizzle out over time as stronger encryption methods and secure storage technologies come into the picture.
The above factors, along with others, are responsible for the global market for data protection as a service to be projected at a whopping CAGR of 30.1% from 2016 to 2024. While currently at a relatively slower pace, the growth rate is expected to rise rapidly over time. By the end of 2016, the global DPaaS market’s revenue is expected to reach US$5.66 bn and US$46.40 bn by the end of 2024.
Key DPaaS Providers Focusing on APAC Demand
The demand for data protection as a service has always been very high in North America, owing to its advanced IT infrastructure and massive volumes of data that need to protected. By the end of 2024, the DPaaS market in North America is expected to generate US$14.07 bn in revenue. Additionally, there is a fast rate of increase in awareness of cloud computing applications and advantages in other sectors of North America, including private and public avenues such as hospitals and schools. North America also has a large platform for open source cloud platforms such as OpenStack, further promoting the use of hybrid clouds and related data protection as a service models.
Asia Pacific on the other hand is showing a massive increase in the demand for data protection as a service. A key factor driving this demand for DPaaS is the currently fast rate of improvements in the implementation of high-speed internet and remote connectivity. There are a staggering number of companies that are currently entering the cloud computing market in this region, adding to the volume of storage that will be made available over the coming years.
Near Equal Demand for DPaaS from Large Enterprises and SMEs
While the disparity in the revenue generated by data protection as a service providers from large enterprises, and small and medium enterprises is noticeable currently, this gap is expected to fade out over the coming years owing to the greater demand for data protection as a service shown by SMEs. By the end of 2024, the revenue generated by data protection as a service companies from large enterprises is expected to reach US$23.46 bn.
Enterprises with a low CAPEX are able to avail efficient data protection as a service at a much faster rate than before, due to the rapid reduction in costs of cloud computing applications. Their greater budget restrictions can now manage to fit in effective cloud computing solutions, including DPaaS.
The key providers of data protection as a service (DPaaS) from a global perspective include EMC Corporation, Amazon Web Services, Inc., IBM Corporation, VMware, Inc., Quantum Corporation, Commvault Systems, Inc., Asigra, Inc., and HP Development Company, L.P.
The “Data Protection as a Service (DPaaS) Market” report provides analysis of the global DPaaS market for the period 2014–2024, wherein the years from 2016 to 2024 is the forecast period and 2015 is considered as the base year. The report precisely covers all the major trends and technologies playing a major role in the DPaaS market’s growth over the forecast period. It also highlights the drivers, restraints, and opportunities expected to influence the market growth during this period. The study provides a holistic perspective on the market’s growth in terms of revenue (in US$ Mn), across different geographies, which includes Asia Pacific (APAC), Latin America (LATAM), North America, Europe, and Middle East & Africa (MEA). An in-depth analysis of various geographical regions is going to provide a precise and detailed understanding of the global DPaaS market over the forecast period.
The market overview section of the report showcases the market’s dynamics and trends such as the drivers, restraints, and opportunities that influence the current nature and future status of this market. Moreover, the report provides the overview of various strategies of the key players in the DPaaS market and analyzes their behavior in the prevailing market dynamics.
The report segments the global DPaaS market on the basis of various deployment models such as public cloud, private cloud and hybrid cloud. By different cloud-based services, the market is classified into Disaster Recovery as a Service (DRaaS), Backup as a Service (BaaS), and Storage as a service (STaaS). By end-user, the global DPaaS market is categorized into large enterprises and small and medium enterprises (SMEs). Thus, the report provides in-depth cross-segment analysis for the DPaaS market and classifies it into various levels, thereby providing valuable insights on macro as well as micro level.
The report also provides the competitive landscape for the DPaaS market, thereby positioning all the major players according to their geographic presence, market attractiveness and recent key developments. This is identified as a crucial step for getting the full overview of the market through key market leaders and the strategies adopted by them. The complete DPaaS market estimates are the result of our in-depth secondary research, primary interviews, and in-house expert panel reviews. These market estimates have been analyzed by taking into account the impact of different political, social, economic, technological, and legal factors along with the current market dynamics affecting the DPaaS market’s growth.
IBM Corporation, Amazon Web Services, Inc., Hewlett-Packard Development Company, L.P., EMC Corporation, Commvault Systems, Inc., VMware, Inc., Quantum Corporation, and Asigra, Inc. are some of the major players which have been profiled in this study. Details such as financials, business strategies, recent developments, and other such strategic information pertaining to these players has been provided as a part of company profiles.
- Below is the list of acronyms used in the report
- DPaaS – Data Protection as a Service
- DRaaS – Disaster Recovery as a Service
- BaaS – Backup as a Service
- STaaS – Storage as a Service
- SaaS – Software as a Service
- PaaS – Platform as a Service
- IaaS – Infrastructure as a Service
- CAPEX – Capital Expenditure
- BCP – Business Continuity Plan
- GDPR – General Data Protection Regulation
- SLA – Service Level Agreements