Data Protection Recovery Solution Market is expected to grow at a USD 12 Billion by 2023 at a CAGR of 12% between 2018 and 2023 :

Pune, India, November, 2018/MRFR Press Release/- Market Research Future published a half-cooked research report on “Data Protection Recovery Solution Market - Forecast to 2023” Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023

Rampant cyber threats might raise the worth of the Global Data Protection & Recovery Solution Market to the USD 12 bn by 2023

With data being an organization’s most valuable asset; protecting it and keeping it out of the public domain is the topmost priority for the organization. Therefore, the market for data protection and recovery solution systems is growing. Market Research Future (MRFR) has published and released a research report regarding the global data protection & recovery solution market that presumes massive growth for this market with 12% CAGR for this market between 2018 and 2023. In terms of cash, this market is expected to be worth US $ 12 bn.

The demand, as well as the market for data protection and recovery solutions, is growing due to the increasing cyber-attacks, rising demand to reduce the operational costs, and data safety concerns. Data protection and recovery solution have applications used in various industries. The global data protection & recovery solution market has been segmented on the basis of component, deployment, vertical, organization size, and lastly region.

Based on the component, this market has been segmented into solution and services. The solution has been sub-segmented into business continuity, data archiving & e-discovery, data backup & recovery, data compliance, data loss prevention, disaster recovery, encryption, identity and access management, and tokenization. Services have been sub-segmented into professional services and managed services.

By deployment, the market has been segmented into on cloud deployment and on-premise deployment. On the basis of organization size, the market has been segmented into small & medium enterprises (SMEs) and large enterprises. The vertical-based segmentation of this market covers banking, financial services and insurance (BFSI), defense, E-commerce, energy & power, government, healthcare, information technology (IT) & telecom, retail, and others.

The regional segmentation of the global data protection & recovery solution market segments the market into continent-based regional markets known as North America, Europe Asia Pacific and the rest of the world. According to the report, North America is supposed to be the largest regional market during the forecast period. The factors aiding the market growth in this region include advanced technological development, availability of advanced IT infrastructure & fast internet, many organizations shifting towards new & upgraded technologies, government initiatives to encourage cybersecurity, the increasing adoption of digital business strategies, and the presence of major market players in this region. The most important country-specific markets in this region are the United States of America (USA), Canada, and Mexico.

According to the report, the Asia Pacific region is expected to emerge as the fastest growing market during the forecast period. The factors driving the market growth in this region include the adoption of managed services in the emerging industries, rapid digitalization, the presence of SME’s and large enterprises, and the rising investment in aerospace, BFSI, healthcare, telecommunication, and other end-user industries. The major country-specific markets in this region are China, India, and Japan, followed by the rest of the Asia Pacific region.

Europe is an important regional market due to the high density of population and maximum technological advancement after North America. The primary country-specific markets in Europe are France, Germany, Italy, Spain, and the United Kingdom (UK).
The RoW segment covers the Middle East & Africa (MEA) and Latin America. In Latin America, Argentina and Brazil have strong economies, and they might emerge as big markets in the future. The MEA region shows limited market slow and steady growth. The reasons for the slow market growth in this region are lack of awareness, lack of education, lack of technological development, political instability.


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Key Players
The key players in the global data protection & recovery solution market include Acronis International GmbH (Switzerland), CA Technologies (USA), Commvault (USA), Hewlett Packard (USA), IBM (USA), McAfee (USA), NetApp (USA), Oracle (USA), Symantec (USA), and Veeam Software (USA).

Latest Industry News
  • Dell EMC has launched Dell EMC Cyber Recovery software, along with Dell EMC Cyber Recovery Services. The software and services have been designed to help provide the last line of data protection defense against ransomware and destructive cyber-attacks. 17 OCT 2018
  • Hewlett Packard Enterprise (HPE) has announced a new hybrid cloud data protection and copy data management solutions for its intelligent storage portfolio. 28 OCT 2018