Data Protection and Recovery Solution Market Size was valued at USD 0.1 Billion in 2022. The data protection and recovery solution market industry is projected to grow from USD 0.115 Billion in 2023 to USD 0.3744 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 15.80% during the forecast period (2024 - 2032). The dependence of organisations on enterprise software programmes, such as customer relationship management, email, and enterprise resource planning, is the main cause of the quick increase in data quantities across an enterprise. Enterprises are now required to implement effective and trustworthy data protection solutions in order to secure sensitive data as a result of the expansion in business. These market drivers will probably propel the market for data protection and recovery solutions.
Figure 1: Data Protection and Recovery Solution Market Size, 2023-2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The increase in cyberattacks, the growing concern about data security, and the growing drive to save operating expenses all contribute to the growth and increase in demand for data protection and recovery solutions. Cybercrime occurrences are increasing as the world adopts cloud data storage more widely. As a result, the market for data protection and recovery solutions is anticipated to expand due to rising worries about cybercrime. For instance, the FBI's Internet Crime Report 2021 states that 847,376 complaints about cybercrime were made by members of the American public in the year, a 7% rise from the previous year. Information technology, telecommunications, healthcare, e-commerce, defence, energy, and electricity are a few of the vertical industry applications for data protection and recovery integrated systems. The new generation of data protection and recovery solution for Oracle engineered systems and some of the solutions related to Oracle systems benefit greatly from Oracle optimizations solutions for data backup and recovery.
Additionally, the reliance of both small and large businesses on the business software used by organisations, such as enterprise resource planning and customer relationship management. Enterprises now need to function effectively and be dependable when it comes to data protection solutions that give security and secret information due to the organization's rapid size expansion. The ability to store information in the cloud has increased with the amount of irrelevant data. Since its operating costs are lower, it increases opportunities and reliability as well as the convenient and prompt backup that originates from the host and ends up in the target system.
However, this market has adopted tremendous growth due to the rise in flexibility and homogeneity. The industry grows as new approaches to disaster management in the cloud are used, coupled with the provision of some backup solutions. In addition to that, the cloud offers endless storage options, storage capacities, and end-to-end encryption capabilities to ensure security and make it simple to backup data related to corporate assets. The organization's efforts to train professionals and lessen compatibility concerns are being reduced by some developments in these technologies, such as the usage of enhanced user surfaces and some management interfaces.
Furthermore, data protection and recovery solutions are made possible by the increased security concerns brought on by an employee utilizing a personal device for work. Consequently, it is anticipated to accelerate the expansion of the market for data protection and recovery solutions. For instance, more than 80% of businesses have BYOD rules of some sort, and it is believed that about 70% of employees use their own devices at work. Thus, driving the data protection and recovery solution market revenue.
The data protection and recovery solution market segmentation, based on component includes Solution and Services. The services segment dominated the market. A significant demand for professional services is anticipated throughout the forecast period as a result of the expanding usage of data protection and recovery solutions.
The data protection and recovery solution market segmentation, based on deployment, includes On-Premise and Cloud. The cloud category generated the most income. The expansion is explained by the rise in demand for better management, flexibility, and data accessibility. Regardless of location, cloud deployment saves time by omitting several processes between restoration and access to information. Additionally, it has the capacity to manage huge information sets and provides a facility for remotely and affordably storing sizable amounts of data.
The data protection and recovery solution market segmentation, based on organization size includes Small and Medium and Large. The small and medium segment dominated the market. The prospect of cyberattacks and data breaches is driving SME clients to install security technologies to ensure the security of crucial information. Small and medium-sized businesses are worried about properly managing and protecting their data. This can be due to the growing requirement for SMEs to implement cutting-edge tools and solutions to fulfil the expanding demand for information security.
Figure 2: Data Protection and Recovery Solution Market, by Distribution channel, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The data protection and recovery solution market segmentation, based on type includes BFSI, Healthcare, IT & Telecommunication and Retail. The healthcare segment dominated the market. This can be attributable to the increased emphasis healthcare practitioners are placing on improving patient care, fulfilling regulatory requirements, and managing enormous amounts of information at once. The demand for enterprise data protection systems is accelerating due to rising amounts of electronic healthcare records. While guaranteeing the confidentiality and privacy of a patient's sensitive personal health information, these products assist healthcare organisations in scaling their infrastructure cost-effectively.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American data protection and recovery solution market area will dominate this market. This is a result of the rise in hacking and data loss occurrences, which is pushing businesses to use security software. The United States' power infrastructure, oil pipelines, and water pipelines have all been hacked by foreigners on many occasions in recent years, according to reports. In order to guarantee data protection and stop cyberattacks, a robust security strategy was developed as a result.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: DATA PROTECTION AND RECOVERY SOLUTION MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe data protection and recovery solution market accounts for the second-largest market share because there is a lot of awareness and a lot of desire for implementation. The region's data centre market has had solid growth as a result of the rise in SMEs. Additionally, as a result of all the advancements and the growing amount of data being saved online, this area has seen a surge in cybercrimes and data breaches. This is anticipated to accelerate the market's expansion in the area. Further, the German data protection and recovery solution market held the largest market share, and the UK data protection and recovery solution market was the fastest growing market in the European region
The Asia-Pacific Data protection and recovery solution Market is expected to grow at the fastest CAGR from 2023 to 2032 due to the growing use of hosted and managed services in developing countries like Australia, China, and India. The increased danger of information loss and unauthorized access posed by these services is anticipated to increase demand for security products. Moreover, China’s data protection and recovery solution market held the largest market share, and the Indian data protection and recovery solution market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the data protection and recovery solution market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, data protection and recovery solution industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the data protection and recovery solution industry to benefit clients and increase the market sector. In recent years, the data protection and recovery solution industry has offered some of the most significant advantages to market. Major players in the data protection and recovery solution market attempting to increase market demand by investing in research and development operations include IBM (U.S), Oracle (U.S), Hewlett Packard (U.S), Veeam Software (U.S), Commvault (U.S), McAfee (U.S), Symantec (U.S), CA Technologies (U.S), Acronis International GmbH (Switzerland) and NetApp (U.S).
IT security solutions are offered by McAfee Corp, a division of Advent International Corp, to a number of industrial clients. It offers services for personal data cleanup, identity monitoring, free antivirus trial, security freeze, virtual private network protection, free antivirus trial, identity theft coverage and restoration, web protection, protection score, free antivirus trial password manager, and parental controls. It creates a seamless and comprehensive digital moat by incorporating device security, privacy and secure Wi-Fi, online protection, and identity protection.
Acronis International GmbH (Acronis) is an information technology firm that offers solutions for data protection and disaster recovery. The business provides secure file-sharing solutions, system setup, and backup software for physical, virtual, and cloud servers. Its offerings also include backup advanced for vCloud, cyber protect, files cloud, cloud storage, notary cloud, cyberinfrastructure, cyberappliance, cloud security, cloud manager, cloud migration, and cyber fit score. Businesses large and small, as well as consumers, are served by Acronis.
June 2022: Acronis International GmbH.- launched a cutting-edge Data Loss Prevention (DLP) system to stop catastrophic data leaks with a swift and creative solution.
February 2022: In order to create a basis for autonomous data management, Veritas Technologies LLC- announced the release of NetBackup 10, which is driven by its Cloud Scale Technology.
Solution
Services
On-Premise
Cloud
Small and Medium
Large
BFSI
Healthcare
IT & Telecommunication
Retail
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 0.1 Billion |
| Market Size 2023 | USD 0.115 Billion |
| Market Size 2032 | USD 0.3744 Billion |
| Compound Annual Growth Rate (CAGR) | 15.80% (2023-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component, Deployment, Organization Size, Vertical, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | IBM (U.S), Oracle (U.S), Hewlett Packard (U.S), Veeam Software (U.S), Commvault (U.S), McAfee (U.S), Symantec (U.S), CA Technologies (U.S), Acronis International GmbH (Switzerland) and NetApp (U.S) |
| Key Market Opportunities | The rise of the data protection and recovery solution market may be prompted by the availability of advanced encryption technologies |
| Key Market Dynamics | Due to an increase in cyberattacks, growing concerns about data security, and growing demand to save operational costs, the market for data protection and recovery solutions is anticipated to expand |
Data Protection Recovery Solution Market Highlights:
Frequently Asked Questions (FAQ) :
The data protection and recovery solution market size was valued at USD 0.1 Billion in 2022.
The market is projected to grow at a CAGR of 15.80% during the forecast period, 2024-2032.
North America had the largest share in the market.
The key players in the market are IBM (U.S), Oracle (U.S), Hewlett Packard (U.S), Veeam Software (U.S), Commvault (U.S), McAfee (U.S), Symantec (U.S), CA Technologies (U.S), Acronis International GmbH (Switzerland) and NetApp (U.S).
The small and medium category dominated the market in 2022.
The healthcare category had the largest share in the market.
Senior Research Analyst Ankit gupta is an analyst in market research industry in ict and semi industry. with post-graduation in "telecom and marketing management" and graduation in "electronics and telecommunication" vertical he is well versed with recent development in ict industry as a whole. having worked on more than 150+ reports including consultation for fortune 500 companies such as microsoft and rio tinto in identifying solutions with respect to business problems his opinions are inclined towards mixture of technical and managerial aspects.
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