The data resiliency market size has been anticipated to accomplish a worldwide CAGR of 15% during the gauge time of 2017-2023. The global data resiliency solutions market is expected to grow from USD 11.69 billion which was attained in the historic forecast period that ended in 2018 to USD 21 billion which is expected to be reached by the end of the current forecast period in 2023.
There has been an increasing need for situational awareness regarding reducing unscheduled maintenance and further, the trends support the increasing asset utilization methods that are cost-effective. Also, there is a rise in a constant need for maintenance in aircraft deliveries that support the global and predicted growth for the data resiliency market from 2017 to 2023.
The data resiliency market has been one of the most affected markets since the outbreak of the global coronavirus pandemic during the year-end of 2019 followed by the spread in international locations in 2017. Both the domestic and the international market that is promoting the travel and tourism industry are facing serious functional issues that are likely to hamper the ability of the market to overcome the challenges that have been propelling since the outbreak of the pandemic. The market investors are on the lookout for dynamics that will be helpful for the market to cover the losses that have been incurred during the forecast period that will be ending in 2023. The data resiliency market share is shrinking and hence, there is a major issue of funds, technology, and investments that help to meet the developing needs of the market and further, the demand for the target audience that is spread in various global locations.
Hence, the global data resiliency market players and investors are enhancing their investment portfolios that will help to expand the global market products followed by the reduction in restrictions that will help the market and give the market proper space to dwell based on the predictions for the forecast period of 2017-2023.
The procurement of Data resiliency solutions includes data backup and recovery, archiving, e-discovery, and disaster recovery. Recovery Point Objective (RPO) and Recovery Time Objective (RTO) are two significant parameters that help enterprises choose an optimal data backup and recovery plan during the forecast period that will be ending in 2023. This is anticipated to generate a huge degree of demand for new data resiliency systems in the upcoming years, as a part of the forecast period of 2017-2023.
But, the global data resiliency market share has been witnessing the emergence of factors like the constant assurance of the quality of accuracy and information that has been received by the data resiliency market groups during the global market premises during the forecast period that will be ending in 2023.
The global demand for efficient operations as a part of the data resiliency market trends and further, the rising need to reduce the unscheduled maintenance costs will be generating the global demand for data resiliency services during the forecast period that will be ending in 2023.
The data resiliency market size has been segmented globally based on the heads like the ones mentioned below:
By Organization Size:
The market growth in the APAC’s regional data resiliency market is primarily driven by the growing awareness across various verticals such as BFSI, IT and telecom, retail, and healthcare for the protection and backup of their crucial enterprise data. There is also an increase in the adoption of data resiliency solutions that is due to the rise in cyberattacks and ransomware attacks in this region.
The data resiliency solutions market trends that are prevalent in the APAC region are highly consolidated and are expected to witness significant growth during the forecast period that ends in 2023. The global market is dominated by major players such as IBM, Microsoft, Commvault, Commvault, and Veeam Software. The presence of prominent market players is adopting a mix of organic and inorganic growth strategies. They are likely to be concentrating on enhancing their product portfolio with innovative and technologically updated market service offerings. They are increasingly focusing on collaborating to well-complement their existing product portfolio and offerings and further, expand their customer base.
The data resiliency market share is expected to rise in the global market during the ongoing forecast period of 2017-2023, owing to the growing demand and excellent preparation and planning of the aircraft by the companies for a series of the global target audience. The global market has been witnessing the emergence of the following key market players followed by the recent developments undertaken by them during the period and hence, the prominent players are mentioned as follows:
The data resiliency market report is an in-depth rooted and surfed report. This is a critical method of capturing, analyzing, and visualizing the aircraft that have generated data that is moving from one point to another. This information is extracted from the market dynamics and converted in the form of data resiliency market reports from the analysis that is being used to find new ways to enhance flight safety that help in increasing the overall degree of operational efficiency followed by buying and investment decisions by the experts. The global market study includes all the hardware, software, segment distribution, competition, and services provided by the key market players during the forecast period of 2017-2023.
|Market Size||USD 21 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Component, Deployment|
|Geographies Covered||North America, Europe, Aisa Pacific|
|Key Vendors||Acronis (Switzerland) Veeam Software (Switzerland) Asigra Inc. (Canada) Unitrends (US) Quest Software Inc. (US) CA Technologies (US) Carbonite Inc. (US) Micro Focus (UK) NetApp (US) CenturyLink (US) Microsoft (US) Commvault Systems Inc. (US) IBM (US)|
|Key Market Opportunities|
|Key Market Drivers||The procurement of Data resiliency solutions includes data backup and recovery, archiving, e-discovery, and disaster recovery.|
The APAC region is predicted to be growing at the highest CAGR during the forecast period.
The global market is predicted to attain a global CAGR of 18.8%.
The market is witnessing the challenges like a constant assurance for data quality is hampering the market growth as per the projections for the period.