Data Protection as a Service Market - An Insight On the Important Factors and Trends Influencing the Market

The global data protection as a service (DPaaS) market was valued at US$ 6,716.8 Mn in 2017 and is expected to expand at a CAGR of 30.7% from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled “Data Protection as a Service (DPaaS)Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.”

North America is expected to hold the dominant revenue share, with the market in the region expanding at a CAGR of above 25%. The global Data Protection as a Service (DPaaS) market is mainly driven by growing stringent government regulations for IT security and digitization within enterprises.
With the growing popularity and adoption of cloud computing services, organizations of all sizes are looking to grab advanced cloud features in order to deliver highly scalable solutions and manage their operations.

The rising demand for cost effectiveness and disaster recovery are currently identified as the key reasons for the growth of the DPaaS market across the globe. Additionally, demand for cloud computing services, such as Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS) is paving the way for the DPaaS market.

The global Data Protection as a Service (DPaaS) market is currently challenged by the lack of appropriate security tools and budget constraints for cloud users.

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