The need to safeguard data is more important than ever, as a result the data protection as-a-service market 2020 is growing rapidly. The ICT industry reports are produced by Market Research Future, which highlights market options for expansion. A CAGR of 24.53% is predicted to transform the earning capacity to USD 28.2 Billion by 2023.
The report provides detailed analysis of comprehensive research, particularly in questions marking the market size, development environment, futuristic developments, operational situation and Data Protection As-A-Service market trend.
The prevalence of advanced cyber-attacks is estimated to create traction for the data protection as-a-service market. The support of governments around the world in terms of the policies they have formulated is further estimated to create a potential for the data protection as-a-service market growth.
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The segmentation of the data protection as-a-service market is conducted on the basis of the deployment model, type, end-user, and region. Based on the end-users, the data protection as-a-service market is segmented into government and defense, media and entertainment, BFSI, healthcare, consumer goods and retail, IT and telecom, education, and others. Based on the type, the data protection as-a-service market is segmented into backup as a service (BaaS), disaster recovery as a service (DRaaS), and storage as a service (STaaS). The deployment model-based segmentation of the data protection as-a-service market includes private cloud, public cloud, and hybrid cloud. Based on the region, the data protection as-a-service market is segmented into North America, Europe, Asia-Pacific, and the rest of the regions.
Detailed Regional Analysis
The regional study of data protection as-a-service market includes North America, Europe, Asia-Pacific, and the rest of the regions. The North American regional market is followed by the European region is anticipated to control the data protection as-a-service market in the forecast period. As these regions are sustainable well-established economies that have ventures with an elevated focus on most recent technology. In addition, the presence of major multinational companies in the region is furthering driving the data protection as-a-service market in these regions. The Asia-Pacific region is likely to grow at a noteworthy CAGR for the duration of the forecast period. The need for data protection as-a-service in the region is motivated by the rapid movement of digital transformation in nations such as Singapore, China, and India, among others. Furthermore, the soaring implementation of cloud and web-based use in the region is driving the demand for data protection as-a-service market.
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The stability of the economic state is expected to further lend to the favorable development in the global market strength. The improvement in research and development facilities and equipment is further projected to influence the growth of the market in the forecast period. The need to prepare for contingencies such as natural disasters, pandemics, and international trade wars is expected to allow the market a better capability to deal with the challenges. The scope of development of the market shows a high growth potential that the market can achieve in the coming years. The strategic allocation and positioning of assets are expected to aid each competitor in the mart with their growth goals. The inducement of favorable regulations introduced by the governments of several countries is estimated to enhance the profits that can be gained by the market. The availability of suitable means to build robust distribution channels is estimated to characterize the future expansion of the market in the forecast period.
The outstanding contenders in the data protection as-a-service market are Symantec Corporation (US), Veeam Software (US), IBM Corporation (US), CA Technologies (US), Microsoft Corporation (US), Commvault (US), Oracle Corporation (US), Amazon Web Services, Inc. (US), Red Hat, Inc. (US), McAfee, LLC (Intel Corporation), VMware, Inc. (US), NetApp, Inc. (US), Acronis International GmbH (Switzerland), Quest Software (US), HP Company (US), Carbonite, Inc. (US), and Quantum Corporation (US).