The global data protection and recovery solutions market size is expected to reach USD 18.78 billion in 2030 and is expected to grow significantly with a CAGR of 16.2 % over the forecast period. The growing adoption of cloud computing by organizations is leading to increased data management concerns. Data migration to the cloud is resulting in a rise in threats such as data loss, unauthorized data processing, and theft.
Increasing adoption of digital transformation is driving the demand for proficient information management, compliance, and governance. Data constitutes a critical part of digital transformation, therefore, making it even more important to ensure proper management and security.
The growing number of information-based organizations is leading to elevated utilization of business information to improve operational efficiency and innovate products and services, based on evolving customer demands and preferences. All the abovementioned factors are expected to propel the demand for data protection, backup, and recovery solutions.
The existing government regulations, such as the Health Insurance Portability and Accountability Act (HIPAA), Government Paper Elimination Act (GPEA), and Freedom of Information Act (FOIA), are significantly encouraging organizations to implement policies related to data access and protection.
Various nations are planning to implement regulations and impose mandates to ensure data security across different industries. For instance, in 2016, the European Commission introduced the General Data Protection Regulation (GDPR), which would be effective from May 2018. This is anticipated to strengthen and standardized data protection as the rule will compel organizations across Europe to be fully complaint by 2018, thus, boosting sales of security and storage devices across the region
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The cloud platforms segment captured the largest market share of 29.0 % in 2023. Cloud platforms offer scalability and flexibility, enabling organizations to seamlessly adjust their data protection and recovery needs in response to fluctuating data volumes and evolving business requirements
The on-premise deployment segment held the largest revenue share in 2023
Based on enterprise size, the large enterprise segment dominated the global market in 2023. Large enterprises generate and manage vast amounts of data daily, including sensitive customer information, financial records, and critical operational data.
The BFSI segment held the largest revenue share in 2023
North America dominated the global data protection and recovery solutions market and accounted for a revenue share of 39.0% in 2023
Grand View Research has segmented the global data protection and recovery solutions market report based on solution, deployment, enterprise size, end use, and region
Data Protection And Recovery Solution Outlook (Revenue, USD Billion, 2018 - 2030)
Email Protection
Endpoint Data Protection
Application Recovery Management
Cloud Platforms
Others
Data Protection And Recovery Solutions Deployment Outlook (Revenue, USD Billion, 2018 - 2030)
Hosted
On-Premise
Data Protection And Recovery Solutions Enterprise Size Outlook (Revenue, USD Billion, 2018 - 2030)
SMEs
Large Enterprises
Data Protection And Recovery Solutions End Use Outlook (Revenue, USD Billion, 2018 - 2030)
BFSI
Energy & Utilities
Government
Healthcare
Manufacturing
Retail
Others
Data Protection And Recovery Solutions Regional Outlook (Revenue, USD Billion, 2018 - 2030)
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Asia Pacific
Japan
China
India
Australia
South Korea
Latin America
Brazil
Argentina
Middle East and Africa (MEA)
South Africa
Saudi Arabia
UAE
List of Key Players in Data Protection And Recovery Solutions Market
Acronis International GmbH
Actifio Inc.
Arcserve, LLC
Axcient
Cohesity, Inc.
Commvault
Dell Inc.
Hewlett Packard Enterprise Development LP
IBM
Microsoft
NinjaOne
Rubrik
Unitrends
Veeam Software
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