Market Size – USD 16.43 Billion in 2020, Market Growth – at a CAGR of 18.5%, Market Trends – Rising concerns about cyber-attacks
The global data resiliency market size is expected to reach USD 90.05 Billion in 2030 and register a revenue CAGR of 18.5% over the forecast period, according to the latest report by Reports and Data. Key factors driving market revenue growth due to continual development of large amounts of data from business operations, as well as rise of cyber-attacks such as ransomware, are pushing the adoption of various solutions and services to achieve data resiliency. Also, increasing privacy issues connected with data sharing with third-party apps, as well as the necessity for data security, are driving the data resiliency industry forward. If data from one site is lost or damaged due to a cyber-attack, equipment failure, or power loss, the user can access data from another location, thereby, ensuring that company activities are not disrupted. Data resilience is an ideal option for such circumstances since data contains critical information such as account numbers, transaction passwords, and credit/debit card details that require high security and quick backup.
Data recovery is an important part of data resiliency. There are various gaps and vulnerabilities regardless of the security mechanism a corporation utilizes. Companies are always vulnerable to cyber-attacks; even if they move fast to counter the assault, some losses may occur while they do so. As a result, it is critical for businesses to recover lost data, processes, and compromised systems, which may be accomplished through the use of data resilience solutions. Many firms already have disaster recovery and business continuity strategies in place, such as backup and recovery and numerous data centers situated in different geographical regions, which allow them to recover quickly and maintain the continuation of their business operations.
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Some Key Highlights from the Report
- By deployment type, on premise segment is expected to account for a larger revenue share in 2020 as on-premise data resiliency solutions are quick and have low latency due to robust networking connectivity. Organizations that require excellent performance for a variety of workloads prefer on-premises implementation. Governments, defense, and BFSI favor on premise deployment because they cannot afford to lose sensitive data, financial records, customer data, or money transaction information.
- By end-use, BFSI segment accounted for the largest CAGR during the forecast period. This data contains critical information such as transaction passwords, account numbers, and credit/debit card details, all of which require strict protection and backup. Providers of data resiliency solutions help BFSI organizations backup and restore data in order to preserve business continuity. As a result of consumers' growing concern about the protection of their vital data, the BFSI industry is likely to lead in the adoption of data resilience solutions.
- Data resiliency market in Asia-Pacific accounted for the largest revenue share in 2020 and is expected to grow at the fastest revenue CAGR over the forecast period. Increased awareness across various verticals such as BFSI, IT and telecom, retail, and healthcare to safeguard and backup their critical company data is driving market revenue growth in Asia-Pacific. Because of the surge in cyberattacks and ransomware assaults in this region, there is also an increase in the usage of data resilience solutions.
- Market for data resiliency solutions is highly consolidated and is expected to grow significantly in terms of revenue share throughout the forecast period. Market participants are pursuing both organic and inorganic growth strategies such as internal growth or acquiring new businesses. They are striving hard to increase their product line with unique and technologically advanced products. They are increasingly concentrating on partnering in order to supplement their present product offerings and grow their consumer base. Agreements, collaborations, and partnerships are being used by industry participants as major business tactics to strengthen their position in the data resiliency market.
- Companies profiled in the global data resiliency market report include Acronis International GmbH, Asigra Inc., Broadcom Inc., Carbonite, Inc., IBM Corporation, Microsoft, NetApp, CenturyLink, Micro Focus, and Commvault.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/press-release/global-data-resiliency-market
For the purpose of this report, Reports and Data has segmented the data resiliency market based on component, deployment type, organization size, end-use, and region:
Component Outlook (Revenue, USD Million; 2018–2030)
- Solutions
- Data Backup & Recovery
- Data Archiving & E-Discovery
- Disaster Recovery
- Services
- Professional Services
- Managed Services
Deployment Type Outlook (Revenue, USD Million; 2018–2030)
- On-premises
- Cloud
Organization Type Outlook (Revenue, USD Million; 2018–2030)
- Large Enterprise
- Small & Medium size Enterprise
End-Use Outlook (Revenue, USD Million; 2018–2030)
- IT and Telecom
- BFSI
- Retail & Consumer Goods
- Healthcare
- Government
- Manufacturing
- Media and Entertainment
- Public Sector
- Others
Regional Outlook (Revenue, USD Million; 2018–2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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