The global data protection and
recovery solution market is expected to reach USD 14.1 billion by 2025,
according to a new study by Grand View Research, Inc. The growing adoption of
cloud computing by organizations is leading to increased data management concerns.
Data migration to the cloud is resulting in a rise in threats such as data
loss, unauthorized data processing, and theft.
Increasing adoption of digital
transformation is driving the demand for proficient information management,
compliance, and governance. Data constitutes a critical part of digital
transformation, therefore, making it even more important to ensure proper
management and security.
The growing number of
information-based organizations is leading to elevated utilization of business
information to improve operational efficiency and innovate products and
services, based on evolving customer demands and preferences. All the
abovementioned factors are expected to propel the demand for data protection,
backup, and recovery solutions.
The existing government regulations,
such as the Health Insurance Portability and Accountability Act (HIPAA),
Government Paper Elimination Act (GPEA), and Freedom of Information Act (FOIA),
are significantly encouraging organizations to implement policies related to
data access and protection.
Various nations are planning to
implement regulations and impose mandates to ensure data security across
different industries. For instance, in 2016, the European Commission introduced
the General Data Protection Regulation (GDPR), which would be effective from
May 2018. This is anticipated to strengthen and standardized data protection as
the rule will compel organizations across Europe to be fully complaint by 2018,
thus, boosting sales of security and storage devices across the region
In depth research
report on Data Protection and Recovery Solutions Market
Further key
findings from the study suggest:
·
The email protection segment emerged as the dominant segment and was
valued at USD 1,826.8 million in 2016, owing to the fact that a majority of
critical data or information related to a business is stored in emails, which
necessitates the use of backup and recovery solutions
·
The Small & Medium Enterprise (SMEs) segment is anticipated to emerge
as the fastest-growing segment, owing to the increased emphasis laid by SMEs on
digitalizing data and the need to protect it
·
The healthcare end-use segment is expected to grow at a CAGR of 16.4%
over the next eight years, owing to increasing use of Electronic Health Record
(EHR) for maintaining patient information
·
Cloud deployment is expected to foresee the highest growth with a CAGR of
15.1% from 2017 to 2025 as organizations are looking forward to improving the
time to market, increasing efficiency of processes, and reducing overall costs
·
North America accounted for a significant market share and was valued at
USD 1,840.8 million in 2016. However, the Asia Pacific region is predicted to grow
at highest CAGR of 18.6% from 2017 to 2025, owing to the accelerated adoption
of hosted and managed services.
·
The key industry participants of the market include Commvault, EMC
Corporation, Hewlett-Packard Enterprise, IBM Corporation, Acronis, Seagate
Technology LLC, Veritas Technologies LLC, Veeam Software AG, Unitrend, Actifio,
and Arcserve (USA) LLC
Grand View Research has segmented the
global data protection and recovery solution market based on solutions,
deployment, enterprise sizes, end-uses, and regions:
Data Protection and
Recovery Solution Outlook (Revenue, USD Million; 2014 - 2025)
·
Email Protection
·
Endpoint Data Protection
·
Application Recovery Management
·
Cloud Platforms
·
Others
Data Protection and
Recovery Solution Deployment Outlook (Revenue, USD Million; 2014 - 2025)
·
Cloud
·
On-premise
Data Protection and
Recovery Solution Enterprise Size Outlook (Revenue, USD Million; 2014 - 2025)
·
Large Enterprise
·
Small & Medium Enterprise
Data Protection and
Recovery Solution End-use Outlook (Revenue, USD Million; 2014 - 2025)
·
BFSI
·
Energy & Utilities
·
Government
·
Healthcare
·
Manufacturing
·
Retail
·
Others
Data Protection and
Recovery Solution Regional Outlook (Revenue, USD Million; 2014 - 2025)
·
North America
·
U.S.
·
Canada
·
Europe
·
UK
·
Germany
·
Asia Pacific
·
China
·
India
·
Japan
·
Latin America
·
Brazil
·
MEA
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About Grand View
Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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