Data Protection as a Service Market Report: Size, Share and Outlook by 2031

In 2018, the global market for data protection as a service (DPaaS) was valued at approximately US$ 9.55 billion and is projected to experience a compound annual growth rate (CAGR) of 29.1% from 2019 to 2027, ultimately reaching around US$ 94.3 billion by the year 2027.

The DPaaS market is currently witnessing significant growth worldwide, driven by the increasing adoption of digital technologies across various sectors. As businesses increasingly rely on digital transactions, ensuring data security and protection has become essential, particularly for financial institutions and e-commerce platforms. The rising demand for DPaaS solutions among organizations is largely attributed to their ability to help businesses adhere to a multitude of regulatory requirements.

Prominent players in the global DPaaS market include Amazon Web Services, Inc., Commvault, EMC Corporation, Hewlett Packard Enterprise Development LP, and IBM Corporation, among others. North America currently dominates the market in terms of revenue, while the Asia Pacific region is expected to exhibit the highest growth rate during the forecast period. The ongoing digitization of business operations has heightened the risk of cyber-attacks, leading to an increased demand for data protection services from enterprises, industries, and government entities. Consequently, many small and medium-sized enterprises (SMEs) and large corporations in North America are actively seeking to implement robust security measures to safeguard their sensitive data from unauthorized access. In the Asia Pacific region, the rapid expansion of internet connectivity and the swift pace of digital transformation are significant factors contributing to the vulnerability of the digital landscape to cyber threats. These elements are pivotal in propelling the growth of the DPaaS market.

The overall size of the data protection as a service market has been determined through a combination of primary and secondary research methodologies. The research process commences with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative insights related to the DPaaS market. This approach also includes an overview and forecast of the global DPaaS market, segmented by five key regions: North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. Additionally, primary interviews are conducted with industry stakeholders and experts to validate the data and analysis. Participants in this process typically include industry professionals such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the DPaaS sector.