According to a new report, published by KBV research, The Global Data Protection And Recovery Solutions Market size is expected to reach $19.83 billion by 2031, rising at a market growth of 15.7% CAGR during the forecast period.
The On-Premise segment captured the maximum revenue in the Global Data Protection And Recovery Solutions Market by Deployment in 2023, thereby, achieving a market value of $10.5 billion by 2031. Sectors such as banking, financial services, healthcare, and government organizations prefer on-premise deployment to ensure data sovereignty, enhanced security protocols, and adherence to data residency laws. Organizations dealing with highly sensitive information often invest in on-premise solutions to mitigate cyber threats, unauthorized access, and third-party risks.
The Large Enterprise segment is experiencing a CAGR of 15.3 % during the forecast period. The segment is growing primarily due to its higher IT budgets, stringent compliance requirements, and complex data protection needs. Large corporations, particularly in the banking, healthcare, retail, and IT sectors, deal with vast amounts of sensitive data and mission-critical applications, making robust data backup, disaster recovery, and cybersecurity solutions essential.
The Cloud Platforms segment led the maximum revenue in the Global Data Protection And Recovery Solutions Market by Solution in 2023, thereby, achieving a market value of $5.2 billion by 2031. Organizations leverage cloud-based data protection for scalability, cost efficiency, and automated backup capabilities. The rise in remote work models and digital transformation initiatives has further accelerated demand for cloud-based disaster recovery (DRaaS) and backup-as-a-service (BaaS) solutions, ensuring continuous data availability with minimal downtime.
The BFSI segment is growing at a CAGR of 13.3 % during the forecast period. Financial institutions manage extensive volumes of customer data, financial transactions, and sensitive records, rendering them ideal targets for cyberattacks, fraud, and data breaches. Regulations such as GDPR, PCI DSS, and Sarbanes-Oxley (SOX) have mandated robust data protection frameworks to prevent financial fraud and unauthorized access. BFSI companies are adopting cloud-based disaster recovery (DRaaS), multi-layer encryption, and AI-driven fraud detection to safeguard financial data.
Full Report: https://www.kbvresearch.com/data-protection-and-recovery-solutions-market/
The North America region dominated the Global Data Protection And Recovery Solutions Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $7.3 billion by 2031. The Europe region is anticipated to grow at a CAGR of 15.3% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 16.3% during (2024 - 2031).
By Deployment
By Enterprise Size
By Solution
By End Use
Unique Offerings 
