The global data protection and recovery solutions market size is anticipated to reach USD 14.1 billion in the year 2025. This can be attributed to the increasing concerns about the data management coupled with the surging threats in data migration while transferring it to the cloud systems. Also, incidences like hacking, data loss, and unauthorized data access are expected to drive the demand for such solutions.
The shifting trend towards the emerging concept of digitalization is expected to generate demand for reliable and proficient governance, information management, and compliance. As the data is being considered as a crucial part of the digitalization process, its security and proper management are of utmost importance.
The increasing number of organizations that are information-based is projected to elevate the usage of business information for the developing products and services and improvement of operational efficiency to cater to the rising customer needs. Such factors are projected to drive the demand for solutions like data recovery, backup and protection.
Various policies like FOIA (Freedom of Information Act) and GPEA (Government Paper Elimination Act) are enhancing various organizations to accept and implement the data protection and access policies.
Several countries have started imposing rules and regulations for enhancing data security and to avoid incidences of data security across various industries. For example, The GDPR (General Data Protection and Regulation) Act was launched by the European Commission in 2016. This act was aimed at strengthening and standardizing the data protection laws across all European organizations. Thus, the implementation of such acts is projected to drive the demand for storage and security devices across this region.
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Further key findings from the report suggest:
• In 2016, the email protection solution segment dominated the global data protection and recovery solution market with revenue of around USD 1.82 Billion.
• The cloud deployment segment is expected to register a CAGR of 15.1% from 2017 to 2025.
• The large enterprises held the largest share across the global market and are expected to growth with 15.2% CAGR during the forecasted years.
• The key players in this market are EMC Corporation, Commvault, Acronis, and IBM Corporation.
Million Insights has segmented the global data protection and recovery solutions market on the basis of solutions, deployment, enterprise sizes, end-uses, and region:
Data Protection and Recovery Solution Outlook (Revenue, USD Billion; 2014 - 2025)
• Email Protection
• Endpoint Data Protection
• Application Recovery Management
• Cloud Platforms
Data Protection and Recovery Solution Deployment Outlook (Revenue, USD Billion; 2014 - 2025)
Data Protection and Recovery Solution Enterprise Size Outlook (Revenue, USD Billion; 2014 - 2025)
• Large Enterprise
• Small & Medium Enterprise
Data Protection and Recovery Solution End-use Outlook (Revenue, USD Billion; 2014 - 2025)
• Energy & Utilities
Data Protection and Recovery Solution Regional Outlook (Revenue, USD Billion; 2014 - 2025)
• North America
• Asia Pacific
• Latin America