Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 31 n° 344

Australia and New Zealand Data Protection as a Service Markets, 2018 & 2019-2027

Posted by fidest press agency su giovedì, 14 novembre 2019

The Australia and New Zealand data protection as a service market accounted for US$ 159.2 Mn in 2018 and is expected to reach US$ 2244.8 Mn by 2027, thereby registering an attractive CAGR growth rate of 34.3% from 2019 to 2027.Factors such as stringent data protection regulations for information security and increasing need for data backups and archives are propelling the growth of data protection as a service market. However, High incurrence of costs of data protection service is hindering the data protection as a service market growth to a certain extent. Globally, organizations are investing in advanced technologies and solutions to upgrade businesses. They are driven by the factors which include growing new data streams, increase the need for storage, flexible IT consumption models, rising cyber security threats & compliance, among others. With the exponential data growth in the organization and deployment of advanced technology, there is a requirement of the data backup systems.Also, for every data record or object created in the organization, it needs a backup system for operational data loss prevention, archiving for long term retention to ensure regulatory compliance, disaster recovery, and remote applications for business continuity. Therefore, in the organization, there is a continuous requirement for the data backups and archives, as the data loss can lead to revenue loss, lawsuits, privacy violations, and other setbacks. The implementation of data protection as a service would support organizations for data backup and archives, and it offers a unified approach to data protection and fast recovery & agile restoration.
Convergence is one of the key aspects that has developed the DPaaS industry. It comprises the software-defined storage, networking services, hardware abstraction, central orchestration, as well as, geographically distributed architecture that deliver the IT infrastructure, and make it effective and agile. Further, for data backup and archive, data protection as a service can scale data integrity as well as retention of data for long periods, and this is important for the current organization for the protection of data. This is highly influencing the growth of data protection as a service market.

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