Market Scenario:

The data protection and recovery market 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. 

The data protection and recovery solution market projects at a market value of about USD 257.84 Million With during CAGR value of about 15.83% Forecast period till 2022-2030

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.

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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.

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.

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 Data Protection  Recovery Solution Market Recent news

Recent news in the Data Protection  Recovery Solution Market includes the launch of new products such as Acronis Cyber Backup 12.5, Rubrik Cloud Data Management, and Cohesity DataPlatform 6.0. Additionally, companies such as Veritas and Veeam have recently announced partnerships with cloud providers such as Microsoft Azure, Amazon Web Services, and Google Cloud Platform to provide customers with more comprehensive data protection and recovery solutions. With the introduction of new products and partnerships, the data protection  recovery solutions market is expected to experience strong growth in the coming years.

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