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The Rise of Data Protection as a Service Market: A $74.91 billion Industry Dominated by Tech Giants - AWS(US) and Microsoft (US)| MarketsandMarkets™

1. Data Protection as a Service Market to reach $74.91 billion by 2030. 2. Microsoft is a key player in the growing DPaaS market. 3. Healthcare sector drives demand due to sensitive data regulations. 4. Public cloud deployment preferred for cost efficiency and security. 5. Asia-Pacific expected to show highest growth in DPaaS market.

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FAQ

Why Bullish?

The growth of the DPaaS market presents lucrative opportunities for Microsoft, similar to past expansions in cloud services.

How important is it?

The projected growth in data protection services is directly beneficial to Microsoft's services.

Why Long Term?

As DPaaS adoption increases over the coming years, Microsoft's long-term revenues could significantly benefit.

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January 30, 2025 07:30 ET  | Source: MarketsandMarkets Research Pvt. Ltd. Delray Beach, FL, Jan. 30, 2025 (GLOBE NEWSWIRE) -- The global Data Protection as a Service Market will grow to USD 74.91 billion by 2030 from USD 26.04 billion in 2024, at a CAGR of 19.3 % from 2024 to 2030, according to a new report by MarketsandMarkets™. Browse in-depth TOC on "Data Protection as a Service Market" 345 - Tables 51 - Figures 283 - Pages Download Report Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=46313339 Data Protection as a Service Market Dynamics: Drivers: Growing data volumesSurging cybersecurity threatsMaximizing cost efficiency with adoption of DPaaS Restraints: Loss of data controlVendor lock-in strategies restrict flexibility and increase long-term costs Opportunities: Increasing demand for business continuity and disaster recovery solutionsGrowing inclination toward cloud computingIntegration of AI/ML and automation in data protection List of Key Companies in Data Protection as a Service Market: AWS (US)Microsoft (US)IBM (US)Oracle (US)Dell Technologies (US)Quantum Corporation (US)Huawei (China)HPE (US)Veritas (US)Veeam (Switzerland) Request Sample Pages@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=46313339 Data protection as a service is gaining popularity due to its cost-effectiveness and efficiency in data security. Data protection services offer storage and backup services to secure sensitive information, ensure compliance, and mitigate risks associated with data loss or breaches. In addition, Data protection as a service also helps organizations ensure business continuity and performance and meet regulatory needs. Some vendors are utilizing capabilities of advanced technologies in data protection services. Key drivers for the Data protection as a Service include the growing number of cyber attacks and large volume of data generated due to digitization. Based on the Organization Size, the Large Enterprises segment accounts for the highest market size during the forecast period. Large enterprises have substantial financial and human resources and can afford to invest heavily in data protection as a service. They deal with massive amounts of data, this data often includes sensitive information subject to strict regulatory requirements, making its protection a top priority. As a result, the adoption of DPaaS is growing among large enterprises. Data protection as a service also helps large enterprises reduce the cost of security measures and disaster recovery plans. Large organizations handle critical operations, and disruption in these operations can lead to huge losses. In such scenarios, disaster recovery as a service helps to store their important data in third-party servers and keep the operations running in case of unexpected disasters. By leveraging DPaaS, enterprises can focus on their core operations while ensuring robust data protection and minimizing operational disruptions. By Vertical, Healthcare vertical is expected to grow at the highest CAGR during the forecast period. Healthcare sector has witnessed a rapid digitization in recent years. Healthcare sector deals with critical data related to Electronic Patient Medical Records, Insurance And Billing Information, Health Records (EHR), Hospital Administration Data and Public Health Data. Protecting this data is first priority due to its sensitive nature. The HIPAA Journal reports that 2023's most significant data breach occurred at HCA Healthcare, affecting approximately 11.3 million individuals. Over the course of the year, a staggering 124 million healthcare records were compromised, highlighting the widespread impact of cyberattacks on the industry. Due to such incidents, regulations like HIPPA and GDPR poses strict compliance requirements in the industry. Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=46313339 By deployment mode, the public cloud will grow at the highest market size during the forecast period. The public cloud deployment holds the major market share in the Data Protection as a Service as it offers benefits such as data security, customization, and low cost. It allows enterprises to have complete control over all the sensitive data, particularly in cases of businesses that are compelled by stringent privacy regulations and data-privacy policies to retain their data within a cloud environment. Public cloud deployment also enables organizations to customize the software functionalities according to their requirements and workflows. Many organizations also benefit from easier integration with legacy systems and established IT infrastructure. These factors, combined with affordable price options, make public cloud deployment the preferred choice for many. By region, Asia-Pacific accounts for the highest CAGR during the forecast period. Asia Pacific region is expected have highest market size in Data protection as a Service because of rapid industrialization, technological development, and rising demand in various growing sectors. Economic growth and urbanization in China and India have caused an increased adoption of DPaaS in industries such as BFSI, healthcare, IT and retail & eCommerce. Technological advancements in AI, ML, and encryption technologies improve DPaaS. Government policies such as smart cities accelerating market growth boost technological development and infrastructure readiness. There is also a growing awareness in the corporate sector about cyber security awareness. China is expected to dominate this market, whereas India is expected to grow at a high rate due to the development of automobile industries and infrastructure development. Get access to the latest updates on Data Protection as a Service Companies and Data Protection as a Service Industry Contact Data About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Rohan Salgarkar MarketsandMarkets Inc. 1615 South Congress Ave. Suite 103, Delray Beach, FL 33445 USA : 1-888-600-6441 UK +44-800-368-9399 Email: sales@marketsandmarkets.com Visit Our Website: https://www.marketsandmarkets.com/

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