Pune, India, February, 2019, MRFR Press Release/- Market Research Future published a half-cooked research report on data protection as-a-service market.
Data protection as-a-service market is expected to grow from USD 7.6 billion in 2017 to USD 28.2 billion by 2023, at a compound annual growth rate (CAGR) of 24.53% during the forecast period. Growing concerns related to critical business data loss and the changing governance, risk, and compliance regulations for data storage in organisations drive the demand for data protection as-a service market.
The prominent players in the data protection as-a-service market are IBM Corporation (US), CA Technologies (US), Microsoft Corporation (US), Symantec Corporation (US), Oracle Corporation (US), HP Company (US), McAfee, LLC (Intel Corporation), VMware, Inc. (US), Amazon Web Services, Inc. (US), NetApp, Inc. (US), Acronis International GmbH (Switzerland), Red Hat, Inc. (US), Quest Software (US), Commvault (US), Carbonite, Inc. (US), Veeam Software (US), and Quantum Corporation (US). These players have adopted product launch, product enhancement, and geographic expansion as their key organic growth strategy to increase increase their presence across the globe.
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The global market for data protection as-a-service market is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of Data protection as-a-service market is done for North America, Europe, Asia-Pacific, and the rest of the world.
North America followed by Europe is expected to dominate the data protection as-a-service market from 2018 to 2023 as these regions are sustainable and well-established economies that have enterprises with high focus on latest technology. Furthermore, the presence of the leading multinational companies in the region further drive the data protection as-a-service market in these regions.
Asia-Pacific is estimated to grow at the significant CAGR during the forecast period. The demand for data protection as-a-service in the region is driven by the rapid pace of digital transformation in countries such as China, Singapore, and India among others. Furthermore, the high adoption of cloud and web-based applications in the region drive the demand for data protection as-a-services.