Data Protection As A Service Market Size, Share, Growth Analysis, By Service Type(Disaster Recovery as a Service (DRaaS), Backup as a Service (BaaS), Storage as a Service (STaaS)), By Deployment(Public Cloud, Private Cloud, Hybrid Cloud), By End Use(SMEs, Large Enterprise), By Region - Industry Forecast 2024-2031

In 2021, the North American area held more than 42% of the global market share. One reason for the region's expansion is the rise in cyberattacks, as well as the rising costs of cloud-based services and data protection products. Additionally, it is projected that the U.S.'s substantial IT infrastructure, cloud solution providers, and data protection companies would contribute to the increase. Due to increased investment in recovery, backup, and storage solutions as well as stricter data protection laws, the U.S. now holds the highest share in the regional market and is expected to maintain its dominance over the projected period.

Over the projection period, the Asia Pacific region is expected to grow at the highest CAGR of 34.4%. One aspect of regional development is the expanding use of managed services, security measures, and data hosting services. Another element promoting regional growth is the trend toward ongoing digitization transformation. A significant amount of data is kept on the computing infrastructure as a result of the digital transformation. Businesses are rapidly implementing disaster recovery and backup solutions and services to preserve and protect the vital IT infrastructure from power outages, unexpected infrastructure failures, and natural catastrophes.