Portland, OR -- (SBWire) -- 09/22/2017 --Data Protection as a Service (DPaaS) Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $28,878 million by 2022, registering a CAGR of 31.5% during the period 2016-2022. Private cloud deployment model generated the largest DPaaS market share in 2015 while hybrid cloud sub-segment is expected to register fastest growth during the forecast period 2016-2022. North America is expected to be the largest market over the forecast period.

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In addition, the advent of cloud computing and software-defined data centers with virtualized infrastructure components delivered as a service has elevated the need for data protection in the current business scenario. The need for a common service for data protection by cloud service providers necessitated the evolution of Data Protection as a Service (DPaaS). DPaaS is a web-delivered cloud-based service designed in order to safeguard data assets of businesses. Several companies deploy DPaaS for better network security and advanced data security for data in transit as well as data at rest.

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North America is the most lucrative market as compared to others with diverse industry verticals implementing DPaaS at a greater extent. Furthermore, it is projected to generate the highest market revenue over the forecast period with predominant deployments in the large enterprises. In addition, Asia-Pacific is estimated to grow at the fastest pace owing to heavy investments by the governments into infrastructural activities for effective data protection.

Key findings of the Data Protection as a Service (DPaaS) Market:

- Private cloud deployment model is expected to exhibit a significant growth in the DPaaS industry

- STaaS generated the highest revenue among other service types pertaining to reduced data storage costs and increased implementation by SMEs

- Large enterprises dominate the global DPaaS market followed by SMEs

- Asia-Pacific is projected to exhibit a substantial growth during the forecast period

Some of the significant players in the DPaaS market that are profiled in the report are IBM Corporation, Amazon Web Services, Inc., HP Development Company, L.P., Commvault Systems, Inc., EMC Corporation, VMware, Inc., Quantum Corporation, Asigra, Inc., Veritas Technologies, and Cisco Systems.