DPaaS – short for Data Protection as a Service is a web based or cloud deployable service that offers data protection and cyber security against potential cyber threats, data loss and leakages to companies, industries and governments that deal with real-time dynamic data. The data feeds and event data collected are thus encrypted by data protection solutions and therefore help in enhancing network security and improve the data transit infrastructure. DPaaS utilize the capabilities of hypervisors, network virtualization tools and firewalls to safeguard data assets of businesses and governments. The Industrial Revolution 4.0 with the disruptions of cloud-computing and need for data centralization has elevated the need for DPaaS solutions. DPaaS are further categorized into DRaaS, BaaS and STaaS based on their purposes.
Disaster Recovery as a Service (abbreviated as DRaaS) is the tool which efficiently recovers the data lost in the event of server failures, file corruptions, power outages (manmade) or natural catastrophes. The main function is to replicate the data to physical or virtual servers as a failsafe. DRaaS help organizations by providing expertise in effective disaster recovery plans. Backend-as-a-Service (BaaS) is a cloud deployable service model in which the database management, cloud storage, user authentications and hosting for the APIs are predesigned and provided to the frontend developers. Storage as a Service (STaaS) is a cost-effective solution that provides the customers or businesses which lack in technical personnel and capital for own storage infrastructure, the access to a data storage platform.
Businesses today face a critical challenge, which is to encrypt, store and process the data that is infinitely pouring in from every electronic device with an internet connection. The need for DPaaS solutions and products has grown over the years to deliver effective network security, recovery and storage solutions with optimum resource utilization, disaster management plans and thus improve the overall performance of the organizations. Thus DPaaS solutions market is anticipated to record a significant CAGR during the forecast period of 2020-28. Based on service type, the market is bifurcated into disaster recovery as a service (DRaaS), Backend-as-a-service (BaaS) and Storage as a Service (STaaS), out of which, the highest share is estimated to be held by DRaaS segment. This can be attributed to higher demand for this service in the market. The market is segmented on the basis of deployment into public cloud, private cloud and hybrid cloud. Among these segments, the private cloud segment was the largest revenue generating segment in 2019 owing to the sophistication, security and preference of consumers. Additionally, the applications of DPaaS for different functionalities further contributed to the growth of the segment. CLICK TO DOWNLOAD SAMPLE REPORT
The World Bank has published the report of International Telecommunication Union which states that in 2017, 49% out of every 100 people on the planet used internet on daily basis. According to another report by Ericsson, it is predicted that by the end of 2024, there will be 1.9 Billion 5G cellular subscriptions globally.
DPaaS are deployed to safely encrypt and store the data generated so as to prevent data theft and privacy concerns by the ISPs. This factor is expected to drive the market growth during the forecasted period.
The “Internet of Things” device sales are increasing enormously and it is estimated that around 41 Billion IoT devices will be sold by 2027, as per the data suggested by the World Bank. These devices are for multipurpose use and are being utilized in household, healthcare, and manufacturing among other industies. The need to encrypt and store the vast amount of data being generated by people across the world by companies is crucial for the business model and strategic decisions.
In this contemporary globalized and digital world, protecting the company’s IP (Intellectual Property) not just from competitors but from potential hackers is of the highest concerns and DPaaS offer effective solutions. This is anticipated to boost the market growth over the forecast period.
Cyber-attacks and data fraud cases across the world have increased dramatically in the past few months while the globe is fighting the COVID-19 pandemic. Thus DPaaS market is expected to witness a significantly growth in future.
A potential factor that might affect the growth of the market is the high costs associated with the DPaaS. Designing and deploying data protection solutions involves development of complex algorithms and infrastructure to support them, i.e., capital investment is high. The SMEs and other small scale businesses do not have the financial capability to neither develop nor purchase these services.
Lack of skilled professionals to effectively deploy these resources along with constraints on time that should be invested in training the individuals to understand these solutions are seen as important factors that are predicted to negatively affect the growth of the market.
Our in-depth analysis of the DPaaS market includes the following segments:
On the basis of regional analysis, the DPaaS market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America is anticipated to hold the largest share in the market on account of presence of leading players in the region which develop and market DPaaS solutions. The growing requirement to tackle data thefts of the intellectual property of the industries in this region further increases the product demand. The market in Asia Pacific region is predicted to grow at the highest rate over the forecast period as a result of growth in digitalization, rising number of internet users and IoT devices in the region, particularly in countries such as China, India and Japan.
The DPaaS market is further classified on the basis of region as follows:
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