Data Protection and Recovery Solution Market Overview:
Data has become one of the most important assets of most organizations. Hence, organizations are protecting and keeping it out of public domain. This is of paramount importance, hence, data protection and recovery solutions systems are often deployed to seek aid with the same. data protection and recovery solutions guarantee an uninterrupted business functioning during any disasters or incidents. This solution helps for the detection or prevention of confidential data from being leaked out of the organization for unauthorized use and enables a systematic way of carrying out enterprise operations effectively and efficiently.
Adoption of data protection and recovery solutions is likely to ascend owing to the rise in the number of cyber-attacks, data safety concerns, and upscaling demand for the reduction of operational costs. Data Protection and Recovery Solution Market have a wide scope of application in various verticals including IT and telecommunication, healthcare, e-commerce, energy and power, and defense. The data protection and recovery solution market size is likely to expand at a CAGR of 12% during the forecast period. The DP and RS market is anticipated to garner a market revenue valuation of USD 12 billion by the end of the assessment period.
Market Research Future (MRFR) in their latest report, have mentioned various factors that hold a significant impact on the growth of the global data protection and recovery solution market over the forecast period. A demand for the reduction of operational costs and data safety concerns are anticipated to provide momentum to the growth of the global DPRS market. Data protection and recovery solution have applications that are used in different industries.
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Data Protection and Recovery Solution Market Major Key Players:
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) are some of the prominent players included in the global data protection and recovery solution market report.
Data Protection and Recovery Solution Market Segmentation:
The global data protection and recovery solution market is studied for segments that are based on deployment, component, vertical, organization size, and region.
- Based on component, the global data protection and recovery solution market is segmented into solutions and services. The solution segment is further segmented into data archiving, business continuity, data archiving and e-discovery, data backup and recovery, data loss prevention, data compliance, encryption, disaster recovery, identity and access management, and tokenization. The services segment is studied for the sub-segments of professional services and managed services.
- Based on deployment, the global DPRS market is segmented into cloud deployment and on-premise deployment.
- Based on organization size, the global data protection and recovery solution market is segmented into small and medium enterprises and large enterprises. The global DPRS market is segmented into the verticals of financial services, banking, insurance, e-commerce, defense, government, energy and power, healthcare, IT and telecom, and retail.
Data Protection and Recovery Solution Market Detailed Regional Analysis:
The global data protection and recovery solution market is studied for the regions of North America, Asia Pacific, Europe, and Rest of the World. As per the report, North America is likely to hold the largest data protection and recovery solution market share over the forecast period. This is attributable to the growth of the regional data protection and recovery solution market which includes advanced technological development, availability of advanced IT infrastructure, and fast internet. Further, many organizations are observed to shift towards new and upgraded technologies, government initiatives, and to encourage cybersecurity.
Upscaling adoption of digital business strategies and the existence of major market players in the reigon are some of the factors contributing to the dominion of North America on the global DPRS market. Asia Pacific is anticipated to materialize as the fastest-growing DP and RS market in the forthcoming years. Europe is also regarded as a significant growth pocket owing to the high density of population and maximum technological advancement, after North America.
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