Data Protection As-A-Service Market Overview
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 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.
Data Protection As-A-Service Market Segment
Data protection as-a-service market is segmented based on type, deployment model, end-user, and region.
By type, the Data protection as-a-service market is segregated into disaster recovery as a service (DRaaS), backup as a service (BaaS), storage as a service (STaaS)
The deployment model segment includes public cloud, private cloud, hybrid cloud
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On the basis of end-users, the Data protection as-a-service market is segmented government and defense; banking, financial services, and insurance (BFSI); healthcare; IT and telecom; consumer goods and retail; education; media and entertainment; and Others.
By region, the Data protection as-a-service market is segmented into North America, Europe, Asia-Pacific and the Rest of the World.
Data Protection As-A-Service Market 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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Data Protection As-A-Service Market Competitive Analysis
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.
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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).
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OverviewThe data protection as-a-service market is anticipated to grow by US$28.2 billion by 2023 rapidly growing at a CAGR of 24.53% during the forecast period.
The global data protection as-a-service market is driven by growing number of advanced cyber-attacks and rising demand from growing number of data centers.
These factors have helped shape the data protection as-a-service market and are expected to boost the growth.
The global market for data protection as-a-service is also covered based on the end-user segment which is further split into government and defense, banking, financial services and insurance (BFSI), healthcare, it and telecom, consumer goods and retail, education, media and entertainment and others.Get Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/7418Factors like demand from IT facilities across the world and high adoption of cloud and web-based applications support the data protection as-a-service market growth.
The performance of the data protection as-a-service market has also been studied for the past and current years.
The data protection as-a-service market report provides major information about regional markets of North America, Europe, Asia-Pacific (APAC), and the rest of the world.
Market OverviewThe Data Protection As-A-Service Market is predicted to increase its market growth by USD 7.6 billion for the year 2020.
In the forecast year of 2027, the global market has expectations to meet at USD 28.2 billion.
This is meant that the global market has predicted to meet a CAGR of 24.53% in the forecast period of 2027.
According to the Data Protection As-A-Service Market outlook report, the disaster recovery as a service (DRaaS) type is predicted to generate more market value with registering the highest CAGR for the forecast period.The increasingly advanced cyber-attacks are increasing concerns for secure critical business data, which automatically increases demand over these disaster recovery type segments.
This deployment model is increasing demand because it is offering greater data security to large enterprises in the global market.Among all the end-users, the banking, financial services, and insurance (BFSI) sector are investing more for data protection as-a-service as a large chunk of critical data has been managed by the sector, which may lead to an increase in cyber-attacks or threats to the sector.
The report mentions that the increasing cyber threats are driving the Data Protection As-A-Service Market share.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/7418Market SegmentationThe Data Protection As-A-Service Market outlook shows that the global market is segmented based on end-user, type, and deployment model.
