Data protection as a service (DPaaS) helps the user in viewing safe and secure data for their business enterprise by delivering cloud assisted and web-delivered services. Business organizations are utilizing this service in order to enhance network security and to form enhanced security services for organizational data in transit and data at pause.

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Moreover, growing dependence on the internet of things and the increasing deployment of data centers and cloud-based technologies have made DPaaS an essential service to be adopted to keep the data secure. Furthermore, rising acceptance of Internet of Things has paved a way for more cybercrimes to take place, thus the adoption of data protection as a service is crucial that is further enhancing the growth of DPaaS market across the world.

On the basis of service type, the DPaaS market across the globe is classified into backup as a service (BaaS), disaster recovery as a service (DRaaS) and storage as a service (STaaS). Among these segments, DRaaS is anticipated to witness the fastest growth during the forecast period due to increasing benefits provided by DRaaS to several corporate organizations. This model helps companies to protect their data against fire, theft and human mistakes.

Moreover, this system enables the organization to perform business operations on many applications and the companies are able to meet additional costs in gaining efficiency in business operations. This segment is thereby significantly strengthening the growth of the DPaaS market, worldwide.

There are three deployment types in DPaaS market that includes public cloud, private cloud, and hybrid cloud. Among all these segments, the hybrid cloud is expected to witness the fastest growth during the forecast period since the hybrid cloud is anticipated to gain a flexible and comfortable platform that ensures the cost-effective management of workload. These clouds are gaining ample popularity in small and medium enterprises that ensures the smooth and effective functioning of business organizations.

The data protection as a service is mainly being adopted by both large, medium and small business enterprises. This is due to the growing adoption of the internet of things that the requirement of data protection has become a must in every segment of the business model. These are the key trends observed in the DPaaS market across the globe. Moreover, with different requirements of business enterprises in the present scenario, there are different kinds of service that is being offered by the vendors of data protection as a service.

However, the vendors of VPN technology are collaborating with the companies, which are already into this service, and some of them have started to shift their resources towards this segment of service.

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Increasing demand for better technologies, increased deployment of data centers, growing wants of cloud services and rising threats of cyber-crime are the key factors that are pertaining to the growth of the DPaaS market worldwide. It has been observed that evolving technological trends there has been a growing demand for security requirements according to the improvised technology. Moreover, with the increasing adoption of the internet of things, there is a huge demand and growth for the DPaaS technologies that eventually makes the data centers and cloud services more effective for various companies.

Major players in the DPaaS market are investing in improving the quality of services in order to provide users with a platform that enables them to share secure and safe transmission of data. developing the latest technologies that are strengthening their position in the market. Also, it has been observed that local players are doing mergers and acquisitions in order to enhance their portfolio that further helps in tapping and satisfying demand of large consumer base. Some of the key players in DPaaS market include Commvault Systems, Inc., Acronis International GmbH, Carbonite, Inc., International Business Machines Corporation, Veritas Technologies, Hewlett Packard Enterprise Company, and Quantum Corporation.

Source: VynZ Research