Data Protection & Recovery Solution Market Highlights:
The global market for data protection & recovery solution 2020 can reach an approx. valuation of USD 12 billion by the year 2023, estimates Market Research Future (MRFR). The market can also record a growth rate of 12% over the forecast period (2018-2023).
One of the chief reasons for the strong growth of the data protection and recovery solutions market is the increasing adoption rate of cloud data models among enterprises as well as private and government organizations to enhance their operational capabilities. Another prime factor inducing market growth can be the rising complexity of enterprise networks that connects every computer and the associated devices at varying locations.
In an attempt to achieve better organizational efficiencies, numerous organizations are making use of technologies like big data infrastructure, which has propelled the overall size of corporate data. On top of the ease of access to data on cloud aspect, the mounting risk of a breach in data vaults has also driven the demand for Stereo display market.
Furthermore, given the advent of Industry 4.0 within the production and manufacturing industry, it is projected that the data generated from manufacturing machines can surge exponentially, thus pushing the demand for data protection and recovery solutions.
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Significant Industry Participants:
The data protection and recovery solution market size is expanding at a considerable pace, with great contribution from players like Hewlett Packard (U.S), Commvault (U.S), Symantec (U.S), IBM (U.S), Acronis International GmbH (Switzerland), Veeam Software (U.S), Oracle (U.S), NetApp (U.S), McAfee (U.S), CA Technologies (U.S), and others.
Some other companies that also influence the market dynamics are Unitrend(U.S), Quantum Corporation (U.S), Arcserve(U.S), to mention a few.
Component, deployment, organization size and vertical are the primary segments based on which the data protection and recovery solution industry have been studied in the MRFR report.
- In terms of component, the market segments are Solution and Services.
- Given the deployment segment, the market caters to on-premise and on cloud.
- The organization sizes mentioned in the report are small and medium enterprises as well as large enterprises.
- Vertical-based segments in the market are IT & telecom, Retail, BFSI, Healthcare, Government, and others.
The data protection and recovery solution market has been geographically evaluated with respect to North America, Europe, Asia Pacific (APAC) and the rest of the world (RoW).
North America exhibits the highest potential to achieve the top spot in the global market for data protection and recovery solution. Most of the organizations in the region are deploying upgraded technologies in conjunction with the rising adoption of digital business strategies, which benefits the regional market. The regional market also gets a boost from the presence of highly renowned companies such as Oracle (U.S), Symantec (U.S), IBM (U.S), Veeam Software (U.S), CA Technologies (U.S) Hewlett Packard (U.S), McAfee (U.S), Commvault (U.S), and others.
APAC is believed to be on track to attain the highest growth rate in the coming years, thanks to the rising adoption of cloud-based services as well as technologies. Various government bodies in emerging countries like India are mostly focused on the implementation of cloud-based services in industries like healthcare and education. Moreover, the region also notes a high adoption of managed services in established sectors in China and Taiwan, which ramps up the growth of the data protection and recovery solution market in the region.
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