Press release
Data Protection as a Service Market to Reach US$ 161.50 Billion by 2031, Growing at a 30.3% CAGR
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Growing Focus on Data Security and Compliance
In an era where businesses store sensitive data digitally, the importance of data security has never been higher. Data Protection as a Service (DPaaS) provides comprehensive cloud-based solutions, including backup, disaster recovery, encryption, and compliance management. These services help organizations safeguard against financial losses, operational disruptions, and data theft. The market is witnessing strong demand due to the increasing need for cost-effective, scalable, and reliable data protection solutions.
Key Market Drivers
• Rising Cyber Threats: The frequency and complexity of cyberattacks continue to rise globally. According to IBM, the average cost of a data breach reached US$ 4.45 million in 2023, marking a 15% increase in three years.
• Growing Cloud Investments: Tech giants such as Oracle, AWS, and Microsoft have announced multibillion-dollar cloud investments across Asia-Pacific to enhance regional data infrastructure and AI capabilities.
• Regulatory Compliance: Stringent government regulations for cybersecurity and data privacy are compelling businesses to adopt advanced protection frameworks.
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Market Segmentation Highlights
• By Service Type: Backup as a Service (BaaS) led the market in 2024, followed by Disaster Recovery as a Service (DRaaS) and Storage as a Service (STaaS).
• By Deployment: The Public Cloud segment dominated in 2024 due to its scalability and lower cost.
• By Enterprise Size: Large enterprises remain the key adopters, though SMEs are rapidly increasing investments.
• By Industry: The IT & Telecom sector held the largest share, followed by BFSI and Healthcare.
Regional Insights
North America led the global DPaaS market in 2024, supported by advanced IT infrastructure, growing digitalization, and heightened cybersecurity awareness. Europe ranked second, while the Asia Pacific region is expected to experience the fastest growth, fueled by government digitalization initiatives and expanding cloud ecosystems.
Key Market Players
Prominent companies operating in the DPaaS market include Amazon Web Services, Hewlett Packard Enterprise, IBM, Oracle, Kyndryl Holdings, Broadcom, Cisco Systems, Dell Technologies, Microsoft, and Hitachi Vantara. These players are focusing on innovation and strategic expansion to strengthen their market presence.
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Recent developments include:
• Amazon Web Services (January 2025): Launched AWS Backup in Asia Pacific (Thailand), enabling centralized automation of data protection.
• IBM (October 2024): Introduced IBM Guardium Data Security Center with generative AI features for enhanced risk assessment and data governance.
Contact Us:
Contact Person: Ankit Mathur
sales@theinsightpartners.com
Phone: +1-646-491-9876
About Us:
The Insight Partners is a one stop industry research provider of actionable solutions. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are specialist in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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