Data Protection as a Service (DPaaS) market to reach $63.38 billion by 2026

Data Protection as a Service (DPaaS) market to reach $63.38 billion by 2026

With a compound annual growth rate (CAGR) of 29.1%, the global data protection as a service (DPaaS) market is anticipated to increase from $17.88 billion in 2021 to $23.09 billion in 2022. With a CAGR of 28.7%, the data protection as a service (DPaaS) market is anticipated to reach $63.38 billion in 2026.

In 2021, the data protection as a service (DPaaS) market’s largest region was North America. Asia Pacific is anticipated to experience the quickest growth during the projection period. Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa are the geographical areas covered by the data protection as a service (DPaaS) market study.

Main DPaaS Categories

Disaster recovery as a service, backup as a service, and storage as a service are the three main categories of DPaaS. Disaster recovery as a service (DRaaS) is a cloud computing service model that enables a company to back up its data and IT infrastructure in a third-party cloud computing environment and provides all DR orchestration, all through a SaaS solution, to regain access and functionality to IT infrastructure after a disaster.

Large businesses and SMEs that operate in a variety of sectors, including banking, financial services and insurance (BFSI), telecom and IT, government and public sector, healthcare, retail, energy & utilities, manufacturing, and others, can deploy data protection as a service in the public cloud, private cloud, and hybrid cloud.

Data Loss is becoming a growing concern

The demand for data protection as a service (DPaaS) is driven by the growing concern about data loss and security. Data loss results from internal problems, such as system failure, or external issues, such as cyberattacks. Due to cases of data theft and leaks, businesses from all over the world have recently been worried about data security.

According to a report by the non-profit Identity Theft Resource Center in the United States, there were 1,862 data breaches in 2021, up from 1,108 in 2020. Concerns regarding data loss in businesses have grown due to these attacks. As a result, the expansion of DPaaS is being driven by rising worries about data loss and data security.

Recent technical developments are shaping the data protection as a service (DPaaS) market as the incorporation of linked devices with the internet of things (IoT) and virtual private network (VPN). As an illustration, the cyber-security company Global Electronic-SECurity (GLESEC) announced the introduction of their new Orchestrated data leakage detection and protection service in May 2021. This security-as-a-service has a unique capability that allows it to protect and detect data leakage without necessitating the classification of all the company’s data. The business would take care of the need for the organization’s security standards with this solution.


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