Market Scenario:
The
global data protection and recovery solution market is estimated to reach
approximately USD 12 billion by 2023 expanding at a CAGR of 12% during the
forecast period of 2018-2023. The data protection and recovery solution market
2020 is estimated to grow owing to the increasing cyber-attacks cases,
increasing demand to cut down the operational costs, and data safety concerns.
Data protection and recovery solution have utilization in several verticals
such as energy and power, IT and telecom, defines, healthcare, and e-commerce.
The multitier, flexible architecture promises virtual absolute expansion,
consolidated management, and end-to-end data protection and data protection for
heterogeneous technologies.
Novel coronavirus has Global
Data Protection & Recovery Solution Market to
open new avenues for those firms that are on the lookout for solutions that are
reliable, efficiently managed, scalable, and are subscription-based, to remain
more focused on the core business. The Global Data Protection & Recovery
Solution Market is bearing lesser impact of the COVID-19 outbreak compared to
most other segments of the tech world.
In a nutshell, COVID-19
impact on managed services has been fruitful, with the market growth enhanced
than before. Given the prevalent lockdown situation, managed services vendors
are now investing heavily in remote-centric worker solutions, which can make
the market highly resilient in the coming years, even as the world is currently
rushing to achieve a COVID-19 breakthrough.
In
today’s era, data has become the most valuable asset for every organization.
Protecting it from the public domain is of huge importance and hence, data
protection and recovery solution system market is propelling. Data protection
and recovery solution assure an uninterrupted business functioning in case of
unforeseen incidents. The solution assists in keeping the data more intact and
confidential. A data protected backup appliance assists indirect control over
the recovery of data and the backup. It assists in creating
application-specific data protection strategies to meet the demands of the
organization using the familiar RMAN utilities and interface. It helps in
improving the output and saves time for backup administrators to focus on
strategic initiatives.
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Competitive Outlook:
Some
of the eminent players of data protection and recovery market consists of NetApp (U.S),
Acronis International GmbH (Switzerland), IBM (U.S), CA Technologies (U.S),
Oracle (U.S), Symantec (U.S), Hewlett Packard (U.S), Veeam Software (U.S),
McAfee (U.S), Commvault(U.S), and others.
Other key players
include Quantum Corporation (U.S), Arcserve (U.S), Unitrend (U.S) among
others. The players invest a significant amount in research and development
programs. The innovative initiatives are taken to present cost-effective
offerings. These initiatives have helped the market to grow more competitive.
Segmentation:
The
data protection and recovery market are segmented on the basis of component,
deployment, organization and vertical.
Based
on components, the market is segmented into solutions and services. The
solution is further divided into identity and access management, data backup
and recovery, data archiving and e-discovery, data loss prevention, disaster
recovery, tokenization, encryption. Service is further divided into managed
services and professional services.
On
the basis of deployment, the market is classified into on-cloud and
on-premises.
Based
on organization size, the market is divided into small and medium enterprises
and large enterprises.
Based
on vertical, the market is divided into retail, banking, financial services and
insurance (BFSI), government, IT and telecom, and others.
Regional Analysis:
The global market for
data protection and recovery solutions is anticipated to expand at a significant
rate during the forecast period from 2018-2023. The regional study of data
protection and recovery solution market is performed for regions such as
Asia-Pacific, Europe, North America and the Rest of the world.
Asia-Pacific is
anticipated to expand at a faster rate owing to the higher number of adoptions
of cloud-based technologies and services. With the adoption of managed services
in the developing economies are India, Japan and China, the data protection and
recovery solution is anticipated to grow with the maximum CAGR.
The North American
market is estimated to lead the data protection and recovery solution market
during the forecast tenure due to the company’s interest shifting towards
updated, upgraded and modern technologies with the rising in the adoption of
digital business strategies. With the presence of major players like CA
Technologies (U.S), IBM (U.S), Symantec (U.S), Oracle (U.S), McAfee (U.S),
Hewlett Packard (U.S), Commvault (U.S), Veeam Software (U.S), and few others
fuel the market to grow at a faster pace.
Table
of Contents:
1 Executive
Summary
2 Scope of the
Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
Continued….
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List of Tables
Table 1 Data Protection
And Recovery Solution Market: By Region, 2020-2027
Table 2 North America
Data Protection And Recovery Solution Market: By Country, 2020-2027
Table 3 Europe Data
Protection And Recovery Solution Market: By Country, 2020-2027
Continued…
List of Figures
FIGURE 1 Global Data
Protection And Recovery Solution Market Segmentation
FIGURE 2 Forecast
Methodology
FIGURE 3 Porter’s Five
Forces Analysis Of Global Data Protection And Recovery Solution Market
Continued…
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