Data Protection and Recovery Solution Market Size: Market Segmentation, industry overview, Growth Trend, COVID 19 Impact and Recovery to 2027
Market Scenario:
The global data protection and recovery solution market is estimated to reach approximately USD 12 billion by 2023 expanding at a CAGR of 12% during the forecast period of 2018-2023.
The data protection and recovery solution market 2020 is estimated to grow owing to the increasing cyber-attacks cases, increasing demand to cut down the operational costs, and data safety concerns. Data protection and recovery solution have utilization in several verticals such as energy and power, IT and telecom, defines, healthcare, and e-commerce. The multitier, flexible architecture promises virtual absolute expansion, consolidated management, and end-to-end data protection and data protection for heterogeneous technologies.
Novel coronavirus has Data Protection and Recovery Solution Market Size to open new avenues for those firms that are on the lookout for solutions that are reliable, efficiently managed, scalable, and are subscription-based, to remain more focused on the core business. The Global Data Protection & Recovery Solution Market is bearing lesser impact of the COVID-19 outbreak compared to most other segments of the tech world.
In a nutshell, COVID-19 impact on managed services has been fruitful, with the market growth enhanced than before. Given the prevalent lockdown situation, managed services vendors are now investing heavily in remote-centric worker solutions, which can make the market highly resilient in the coming years, even as the world is currently rushing to achieve a COVID-19 breakthrough.
In today’s era, data has become the most valuable asset for every organization. Protecting it from the public domain is of huge importance and hence, data protection and recovery solution system market is propelling. Data protection and recovery solution assure an uninterrupted business functioning in case of unforeseen incidents. The solution assists in keeping the data more intact and confidential. A data protected backup appliance assists indirect control over the recovery of data and the backup. It assists in creating application-specific data protection strategies to meet the demands of the organization using the familiar RMAN utilities and interface. It helps in improving the output and saves time for backup administrators to focus on strategic initiatives.
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Competitive Outlook:
Some of the eminent players of data protection and recovery market consists of NetApp (U.S), Acronis International GmbH (Switzerland), IBM (U.S), CA Technologies (U.S), Oracle (U.S), Symantec (U.S), Hewlett Packard (U.S), Veeam Software (U.S), McAfee (U.S), Commvault(U.S), and others.
Other key players include Quantum Corporation (U.S), Arcserve (U.S), Unitrend (U.S) among others. The players invest a significant amount in research and development programs. The innovative initiatives are taken to present cost-effective offerings. These initiatives have helped the market to grow more competitive.
Segmentation:
The data protection and recovery market are segmented on the basis of component, deployment, organization and vertical.
Based on components, the market is segmented into solutions and services. The solution is further divided into identity and access management, data backup and recovery, data archiving and e-discovery, data loss prevention, disaster recovery, tokenization, encryption. Service is further divided into managed services and professional services.
On the basis of deployment, the market is classified into on-cloud and on-premises.
Based on organization size, the market is divided into small and medium enterprises and large enterprises.
Based on vertical, the market is divided into retail, banking, financial services and insurance (BFSI), government, IT and telecom, and others.
Regional Analysis:
The global market for data protection and recovery solutions is anticipated to expand at a significant rate during the forecast period from 2018-2023. The regional study of data protection and recovery solution market is performed for regions such as Asia-Pacific, Europe, North America and the Rest of the world.
Asia-Pacific is anticipated to expand at a faster rate owing to the higher number of adoptions of cloud-based technologies and services. With the adoption of managed services in the developing economies are India, Japan and China, the data protection and recovery solution is anticipated to grow with the maximum CAGR.
The North American market is estimated to lead the data protection and recovery solution market during the forecast tenure due to the company’s interest shifting towards updated, upgraded and modern technologies with the rising in the adoption of digital business strategies. With the presence of major players like CA Technologies (U.S), IBM (U.S), Symantec (U.S), Oracle (U.S), McAfee (U.S), Hewlett Packard (U.S), Commvault (U.S), Veeam Software (U.S), and few others fuel the market to grow at a faster pace.
Table of Contents:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
Continued….
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List of Tables
Table 1 Data Protection And Recovery Solution Market: By Region, 2020-2027
Table 2 North America Data Protection And Recovery Solution Market: By Country, 2020-2027
Table 3 Europe Data Protection And Recovery Solution Market: By Country, 2020-2027
Continued…
List of Figures
FIGURE 1 Global Data Protection And Recovery Solution Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Data Protection And Recovery Solution Market
Continued…
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