The data protection as a service market size was valued at US$ 25.35 billion in 2024 and is expected to reach US$ 161.50 billion by 2031; it is estimated to register a CAGR of 30.3% during 2024-2031.

The data protection as a service market is segmented into five major regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. North America dominated the data protection as a service market in 2024. Europe is the second-largest contributor to the global data protection as a service market, followed by Asia Pacific.

The data protection as a service market in APAC is segmented into China, India, Japan, Australia, South Korea, and the Rest of APAC. IBM Security's latest X-Force Threat Intelligence Index 2023 reveals that Asia Pacific was the most targeted region globally in 2021 and 2022. The region was responsible for 31% of all cybersecurity incidents addressed worldwide. The same report highlighted that attackers most commonly deployed backdoors-used for remote system access-in 31% of incidents in 2022. Ransomware was the second most prevalent attack method, accounting for 13% of cases. Further, according to the report, manufacturing tops the list of the most targeted industries in this region with 48% of cases, followed by finance and insurance at second place with 18% of cases.

Further, Asia Pacific is experiencing a much higher frequency of attacks than the global average. According to Check Point's latest quarterly threat intelligence report, businesses in APAC are hit by an average of 2,600 cyber threats per week, compared to the global average of 1,750. Attackers more commonly target government, healthcare, finance, manufacturing, education, and research sectors, among others. Thus, digital transformation initiatives, increasing cyber threats, and stringent data protection regulations fuel the growth of the data protection as a service market in Asia Pacific. Subsequently, cloud-based security solutions are gaining popularity in the region due to their easy scalability. For instance, by the end of 2023, Microsoft recorded 40% growth in the uptake of its cloud-based security services in Asia Pacific.

Based on end-user industry, the data protection as a service market is segmented into IT and telecom, BFSI, healthcare, manufacturing, retail and e-commerce, and others. The IT and telecom segment held the largest data protection as a service market share. The IT and telecom segment is the largest contributor to the data protection as a service market. This segment encompasses cloud storage providers, computing service providers, software developers, file-sharing solution providers, and telecom providers. The IT and telecom industry often manages and stores vast volumes of critical and sensitive customer data, which makes it a major target for cyberattacks and fraudulent activities, with an average data breach cost of US$ 4.62 million. In 2023, 69% of telecom organizations reported experiencing a data breach or cyberattack. Moreover, according to Verizon's 2023 Data Breach Investigations Report, telecom providers are among the most targeted industries, with network vulnerabilities contributing to over 25% of incidents. IT and telecom firms utilize DPaaS to streamline compliance with various data protection regulations, such as GDPR and CCPA, apart from minimizing downtime and preventing data loss

ABB Ltd, Delta Electronics Inc, Fanuc Corp, Fuji Electric Co Ltd, Mitsubishi Electric Corp, Nidec Corp, Rockwell Automation Inc, Schneider Electric SE, Siemens AG, and Yaskawa Electric Corp are among the key data protection as a service market players that are profiled in this market study.

The overall data protection as a service market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the data protection as a service market size. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the data protection as a service market.