WILMINGTON, DE, UNITED STATES, June 3, 2024 /EINPresswire.com/ -- The global data protection as a service (DPaaS) market is expected to garner $28.87 billion by 2022, registering a CAGR of 31.5% during the period 2016 to 2022.

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Growing concerns regarding data loss, increase in need for data backups and archives, and governance, risk, and compliance requirements for storage have augmented the growth of the global data protection as a service (DPaaS) market. However, high incurrence of cost and complexity in cloud DPaaS deployment hamper the growth to certain extent. Moreover, increase in demand for cloud-based disaster recovery & backup for virtual machines and integration of backup services and recovery would create a number of opportunities in the near future.

Covid-19 Scenarios:

Unlike other industries, the global data protection as a service (DPaaS) market has not been much affected amid global lockdown.

Rise in adoption of remote working system by multiple industries has increased the demand for privacy and security. This, in turn, has aided the market in terms of revenue.

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The global data protection as a service (DPaaS) market is segmented on the basis of deployment model, service type, end user, and regions.

Asia-Pacific is expected to observe highest growth rate during the forecast period. The market growth in Asia-Pacific is majorly supported by increase in reliability on ICT infrastructure coupled with rise in growth opportunities for cloud exporters. Further, increase in the number of strategic partnerships among regional and U.S. providers has fueled the market growth. In Asian countries, the growing trend of cloud computing and BYOD has driven the market growth in the recent years. In addition, increased focus on emerging economies has led to inflow of heavy investments in the region. Therefore, surge in adoption of cloud by SMBs, rise in cyber-attacks, stringent government regulations, and mobility are prime drivers of DPaaS market in this region

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Based on region, the North America region dominated the market in 2019, and would rule throughout the forecast period. However, Asia-Pacific region is estimated to grow at the fastest growth rate during the forecast period.

Key market players in the DPaaS market that are profiled in the report include HP Development Company, L.P., IBM Corporation, Amazon Web Services, Inc., Commvault Systems, Inc., EMC Corporation, VMware, Inc., Quantum Corporation, Asigra, Inc., Veritas Technologies, and Cisco Systems.

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