According to a new report, published by KBV research, The Global Data Protection as a Service Market size is expected to reach $131.3 billion by 2031, rising at a market growth of 25.6% CAGR during the forecast period.
The Public Cloud segment is leading the Global Data Protection as a Service Market by Deployment in 2023; thereby, achieving a market value of $66.7 billion by 2031. This dominance is attributed to the cost-effectiveness, scalability, and accessibility of public cloud services, making them particularly appealing to small and medium-sized enterprises (SMEs) and startups. The widespread adoption of public cloud solutions has been driven by the need for flexible and efficient data protection services that can be rapidly deployed without significant upfront investments.
The Backup as a Service (BaaS) segment is anticipating a CAGR of 25.4% during (2024 - 2031). The increasing amount of data produced by enterprises and the need for dependable backup solutions to guard against data loss are the main drivers of this segment's growth. BaaS provides organizations with automated, cloud-based backup services, facilitating efficient data recovery and minimizing downtime. The need for reliable backup solutions is highlighted by the rising frequency of cyberattacks and strict regulatory requirements, which also contribute to the BaaS segment's
The Large Enterprises segment is generating the maximum revenue in the Global Data Protection as a Service Market by Enterprise Size in 2023; thereby, achieving a market value of $86.7 billion by 2031. This dominance is attributed to their substantial data volumes and complex IT infrastructures, necessitating advanced data protection solutions. To guarantee data protection, compliance, and business continuity, these companies are more likely to make investments in all-inclusive DPaaS solutions. Their significant financial resources enable them to seamlessly adopt and integrate sophisticated DPaaS services.
The Healthcare segment is registering a CAGR of 24.6% during (2024 - 2031). The healthcare industry's increasing digitization, including adopting electronic health records (EHRs) and telemedicine, has driven the need for data protection solutions. Healthcare providers are under pressure to adhere to strict standards like HIPAA and protect sensitive patient data. Demand for DPaaS solutions, which allow businesses to secure vital data and guarantee continuous service delivery, is further fueled by the possibility of ransomware attacks and data breaches that target the healthcare industry.
Full Report: https://www.kbvresearch.com/data-protection-as-a-service-market/
The North America region dominated the Global Data Protection as a Service Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $47.7 billion by 2031. Europe region is experiencing a CAGR of 25.2% during (2024 - 2031). Additionally, The Asia Pacific region would exhibit a CAGR of 26.3% during (2024 - 2031).
By Service
By Deployment
By Enterprise Size
By End-use
Unique Offerings 
