Data Protection as-a-Service (DPaaS) Market Size
| 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 |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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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) Market Trends
This section covers the major market trends shaping the Data Protection as a Service Market according to our research experts:
Hybrid Cloud is Expected to Hold Significant Share
- While public cloud services have long promised organizations a massive range of benefits, fears around data protection, security, and compliance have always held some firms back. A recent report commissioned by HPE found that these three issues were the most significant factors when workloads were considered unsuitable for the public cloud. With the growth of hybrid cloud, the landscape is changing, as hybrid cloud offers organizations the best of the on-premises, private, and public cloud worlds.
- There is a significant growth in the number of organizations opting for vendor-agnostic models that help them spread out the risks of data breaches and security lapses. The hybrid cloud is at the center of this evolution. While approaches like that may increase the complexity of the protection of the data, at the same time, it makes information security even more helpful.
- According to the Evaluator Group, 58% of organizations use hybrid cloud data protection solutions for disaster recovery. Protecting physical assets and data simultaneously in the data center remains an essential requirement. Protecting virtual assets and data is also gaining traction.
- Adopting hybrid cloud disaster recovery offers various advantages to businesses, such as eliminating the need for a secondary disaster recovery site. Further, the hybrid cloud also reduces the complexities and expenses of the maintenance and management of a system. All these factors account for the growth of hybrid cloud-based data protection solutions.
- As per IBM, with hybrid platforms as the central strategy for supporting key application workloads, firms are reaping the business benefits of improved efficacy of workload. In 2022, the most prevalent advantage of running applications on a hybrid cloud, as reported by IT leaders, was the ability to optimize disaster recovery and business continuity.
North America is Expected to Hold Major Share
- The North American market is expected to dominate the Data Protection as a Service Market due to high awareness and the high demand for implementation. Moreover, major players who offer Data Protection as a Service are headquartered in the United States, which includes companies such as IBM, Cisco, and Amazon Web Services.
- With the increasing number of SMEs, the data center market in the region has witnessed healthy growth. Further, a data shift has been observed from private servers to cloud networks due to exponential growth in data generation volume. This trend entails resilient and reliable backup and recovery solutions, as disruption of services results in enormous losses for the service providers.
- No single regulatory authority is dedicated to overseeing data protection law in the U.S. The regulatory authority responsible for oversight at the federal level depends on the law or regulation in question. In the financial services context, for example, the Consumer Financial Protection Bureau and various financial services regulators have adopted standards under the Gramm-Leach-Bliley Act (GLB) that dictates how firms subject to their regulation may collect, use, and disclose non-public personal information.
- According to the U.S. Department of Health and Human Services, in 2021, the total number of U.S. residents affected by healthcare data breaches was around 46 million. The rise in such cases in the region creates a massive demand for Data Protection as a Service, further enhancing the market's growth opportunities.
- As per Identity Theft Resource Center in the 1sthalf of 2022, the total number of data compromises in the U.S. came in at a total of 817 cases. Meanwhile, throughout the same time, over 53 million individuals were affected by data compromises, which included data breaches, data leakage, and data exposure.
Data Protection as-a-Service (DPaaS) Industry Overview
The Data Protection as a Service (DPaaS) market is moderately competitive and consists of several major players. In terms of market share, few players currently dominate the market. However, with innovation in data storage and security systems, the companies are increasing their market presence by securing new contracts by tapping across emerging markets.
In November 2022, Cohesity, a data security and management provider, announced at ReConnect, Cohesity's data security and management summit, that it is partnering with the 'who's who' of cybersecurity to provide customers more ways to win the war against the cyberattacks. The Data Security Alliance adds best-in-class solutions from industry-leading cybersecurity and services companies with exceptional data management and security expertise from Cohesity.
In July 2022, T-Systems declared that it had achieved an Identity and Access management distinction in the Amazon Web Services (AWS) Security Competency. This designation recognizes that T-Systems has demonstrated and successfully met the AWS's quality and technical requirements for offering customers with a deep level of consulting and software expertise in identity and access management to assist them achieve their cloud security goals.
Data Protection as-a-Service (DPaaS) Market Leaders
IBM Corporation
Amazon Web Services Inc.
Hewlett Packard Enterprise Company
Cisco Systems Inc.
Dell Inc.
*Disclaimer: Major Players sorted in no particular order
Data Protection as-a-Service (DPaaS) Market News
- September 2022: Asigra Inc., an ultra-secure backup and recovery provider, declared the general availability of Tigris Data Protection software with Content Disarm & Reconstruction (CDR). The addition of CDR to Asigra's comprehensive suite of security features makes it the most security-forward backup and recovery software platform on the entire market.
- June 2022: The United Nations Capital Development Fund (UNCDF) and the Personal Data Protection Office (PDPO) have introduced a data protection and privacy portal that would ease the processing, reporting, and resolving of data privacy and protection complaints and breaches. It would also ease the registration of persons and organizations processing and collecting personal data. The portal includes SMS/USSD functionality to allow universal usage and access by most citizens.
Data Protection as-a-Service (DPaaS) Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions & Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Stakeholder Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Need for Data Security due to Huge Volume of Data
5.1.2 Stringent Regulations Regarding the Adoption of Data Protection Solutions
5.2 Market Restraints
5.2.1 Increasing Hidden Costs of Cloud-based Storage
6. MARKET SEGMENTATION
6.1 Service
6.1.1 Storage-as-a-Service
6.1.2 Backup-as-Service
6.1.3 Disaster Recovery-as-a-Service
6.2 Deployment
6.2.1 Public Cloud
6.2.2 Private Cloud
6.2.3 Hybrid Cloud
6.3 End-user Indsutry
6.3.1 BFSI
6.3.2 Heathcare
6.3.3 Government and Defense
6.3.4 IT and Telecom
6.3.5 Other End-user Industries
6.4 Geography
6.4.1 North America
6.4.1.1 United States
6.4.1.2 Canada
6.4.2 Europe
6.4.2.1 United Kingdom
6.4.2.2 Germany
6.4.2.3 France
6.4.2.4 Spain
6.4.2.5 Rest of Europe
6.4.3 Asia Pacific
6.4.3.1 China
6.4.3.2 India
6.4.3.3 Japan
6.4.3.4 Rest of Asia Pacific
6.4.4 Latin America
6.4.4.1 Brazil
6.4.4.2 Argentina
6.4.4.3 Mexico
6.4.4.4 Rest of Latin America
6.4.5 Middle East and Africa
6.4.5.1 United Arab Emirates
6.4.5.2 Saudi Arabia
6.4.5.3 South Africa
6.4.5.4 Rest of Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 IBM Corporation
7.1.2 Amazon Web Services Inc.
7.1.3 Hewlett Packard Enterprise Company
7.1.4 Dell Inc.
7.1.5 Cisco Inc.
7.1.6 Oracle Corporation
7.1.7 VMware Inc.
7.1.8 Commvault Systems Inc.
7.1.9 Veritas Technologies LLC
7.1.10 Asigra Inc.
7.1.11 Quantum Corporation
7.1.12 Quest Software Inc.
7.1.13 NxtGen Datacenter & Cloud Technologies Pvt. Ltd.
7.1.14 Hitachi Vantara Corporation
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE 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 (DPaaS) Market Research 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.
Who are the key players in Data Protection as a Service Market?
IBM Corporation, Amazon Web Services Inc., Hewlett Packard Enterprise Company, Cisco Systems Inc. and Dell Inc. are the major companies operating in the Data Protection as a Service Market.
Which is the fastest growing region in Data Protection as a Service Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Data Protection as a Service Market?
In 2024, the North America accounts for the largest market share in Data Protection as a Service Market.
What years does this Data Protection as a Service Market cover, and what was the market size in 2023?
In 2023, the Data Protection as a Service Market size was estimated at USD 18.48 billion. The report covers the Data Protection as a Service Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Data Protection as a Service Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Data Protection as a Service Industry Report
Statistics for the 2024 Data Protection as a Service market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Data Protection as a Service analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
