Europe Data Protection-as-a-Service Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)
The “Europe Data Protection-as-a-Service Market” report offers qualitative and quantitative insights and a detailed analysis of market size & growth rate for all possible segments in the market. The Global Europe Data Protection-as-a-Service Industry presents a market overview, product details, classification, and market concentration. The report also provides an in-depth survey of key players in the market which is based on various competitive intelligence parameters like company profiles, product picture and specification, capacity, production, price, cost, revenue, and contact information. The Europe Data Protection-as-a-Service Market report provides an in-depth study of SWOT analysis i.e. Strength, Weakness, Opportunities, and Threat to the organization. Market Insights Report analysed the impact of COVID-19 (Corona Virus) on the product industry chain based on the upstream and downstream markets, on various regions and major countries and on the future development of the industry are pointed out.
The European data protection-as-a-Service market was valued at USD 1.51 billion in 2020, and it is expected to reach USD 3.81 billion by 2026, registering a CAGR of 17.41% during the forecast period (2021 – 2026).
The factors driving the European market for data protection-as-a-service are increased focus on third-party risk management coupled with stringent regulations, such as GDPR prompting the adoption of data protection solutions. Many Europe-based market vendors are also innovating their product offerings by penetrating various industries to gain a competitive advantage, further contributing to the growth of the market.
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– In May 2020, VMware Inc. announced the development of the Astrolabe Data Protection framework dedicated to complex applications. The newly developed data protection framework offers the discovery and replication of data and the restoration of complex applications. The framework provides a data protection-centric approach for applications with APIs for data extraction, recovery, and copying.
– In February 2020, Hewlett Packard Enterprise announced advancements in its data protection services in partnership with Veeam, a European software vendor. Veeam and HPE have teamed up to protect customer data for the past decade, and the newly developed support for HPE Primera ensures customer data is always recoverable and protected.
Key Market Trends
BFSI Industry is Expected to Grow at a Significant Rate Throughout the Forecast Period
– With the increasing digital initiatives taken by banking and financial services industry players, it is crucial to protect the enterprise information from data security threats. Modernized bank data centers with hybrid cloud infrastructure backed by a digital foundation technology and powered by self-driving operations are assuring a significant level of improved customer experiences. On the other hand, modernization created different security loopholes, resulting in data breaches and other information losses.
– Technology service providers, such as Eurobits, help banks work together so that their customers can quickly pay and manage their bank accounts at more than one banking provider. The company migrated to VMware vSphere on IBMs cloud technology in two data centers to containerize its secured banking applications.
– Many European banks are looking for cloud computing providers with higher security standards than they can find in the United States. The European banks are opting for three major United States cloud providers, Microsoft, Amazon, and Google.
– Presently, French and German government officials are in talks with major players in technology, telecommunications, and finance to create a competitive continental cloud service run by regional technology provider companies. However, banks, like Germanys Commerzbank AG, have teamed up to present joint cloud requirements to the United States providers to increase the flexibility of data-related regulations.
– Players operating in the market are continually investing in the development of innovative solutions to tackle down problems in an efficient way. For instance, in September 2019, Fortinet, a significant provider of cybersecurity solutions, announced the launch of FortiGate-VM, which is extending its native support of VMware NSX-T to provide advanced security for East-West traffic.
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Europe Data Protection-as-a-Service Market report studies the market in-depth and provides an all-inclusive analysis of the key growth factors, Europe Data Protection-as-a-Service market share, latest trends, key players, and their projections for the future. Also, Europe Data Protection-as-a-Service Market report provides growth rate, market demand, and supply, the market potential for each geographical region. The analysis provides an exhaustive investigation of the market along with the future projections to assess the investment feasibility. Furthermore, the report includes both quantitative and qualitative analyses of the Europe Data Protection-as-a-Service Market throughout the forecast period. This report analyses the impact of the COVID-19 on the Europe Data Protection-as-a-Service market share in the short and long term.
At the beginning of 2021, COVID-19 disease began to spread around the world, millions of people worldwide were infected with COVID-19 disease, and major countries around the world have implemented foot prohibitions and work stoppage orders. Except for the medical supplies and life support products industries, most industries have been greatly impacted, and Europe Data Protection-as-a-Service industries have also been greatly affected. With the slowdown in world economic growth, the Europe Data Protection-as-a-Service industry has also suffered a certain impact, but still maintained a relatively optimistic growth, the past four years, Europe Data Protection-as-a-Service market size to maintain the average annual growth rate of 15 from 2015 to 2021, in the next few years, Europe Data Protection-as-a-Service market size will be further expanded, we expect that by 2027.
The Study Objectives of Europe Data Protection-as-a-Service Market Report Are:
- Focuses on the key Europe Data Protection-as-a-Service manufacturers, to study the sales, value, market share, and development plans in the future.
- Focuses on the global key manufacturers, to define, describe and analyze the market competition landscape, SWOT analysis.
- To define, describe and forecast the market by type, application, and region.
- To analyze the opportunities in the market for stakeholders by identifying the high-growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To identify significant market trends and factors driving or inhibiting the market growth.
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The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, and recent developments in both historic and present contexts. The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
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