The Future of Data Protection And Recovery Solutions….. COVID-19 & Its Impact….


The global data protection and recovery solution market size is expected to reach USD 14.1 billion by 2025, according to a new study by Grand View Research, Inc. 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.
Amidst the COVID-19 crisis, the network security industry is poised for sustainable growth despite the foreseeable economic turbulence. Implementation of remote working policy, due to lockdown is putting unanticipated stress on remote networking technologies and causing operational technology (OT) security risk concerns over the vulnerable home network security. Furthermore, as digital infrastructure becomes a critical aspect of business strategic considerations, network security will become a competitive differentiator for businesses and overhaul their remote working strategies. We are incessantly monitoring the market dynamics and regulations while continuously assessing the impact of Covid-19 with the aim of providing you with actionable market insights. The report will account for Covid19 as a key market contributor.
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 above mentioned 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.
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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.
Further key findings from the study suggest:
·         The email protection segment emerged as the dominant segment and was valued at USD 1,826.8 million in 2016, owing to the fact that a majority of critical data or information related to a business is stored in emails, which necessitates the use of backup and recovery solutions
·         The Small & Medium Enterprise (SMEs) segment is anticipated to emerge as the fastest-growing segment, owing to the increased emphasis laid by SMEs on digitalizing data and the need to protect it
·         The healthcare end-use segment is expected to grow at a CAGR of 16.4% over the next eight years, owing to increasing use of Electronic Health Record (EHR) for maintaining patient information
·         Cloud deployment is expected to foresee the highest growth with a CAGR of 15.1% from 2017 to 2025 as organizations are looking forward to improving the time to market, increasing efficiency of processes, and reducing overall costs
·         North America accounted for a significant market share and was valued at USD 1,840.8 million in 2016. However, the Asia Pacific region is predicted to grow at highest CAGR of 18.6% from 2017 to 2025, owing to the accelerated adoption of hosted and managed services.
·         The key industry participants of the data protection and recovery solutions market include Commvault, EMC Corporation, Hewlett-Packard Enterprise, IBM Corporation, Acronis, Seagate Technology LLC, Veritas Technologies LLC, Veeam Software AG, Unitrend, Actifio, and Arcserve (USA) LLC
The global data protection and recovery solutions market size was estimated at USD 4.70 billion in 2016 and is expected to gain momentum over the forecast period. The dependency of organizations on enterprise software applications, such as email, customer relationship management, and enterprise resource planning, is leading to a rapid increase in volumes of data across an enterprise. This rapid growth has enforced enterprises to deploy efficient and reliable data protection solutions for securing confidential information.
Moreover, there has been a significant increase in information storage over the cloud, due to lower operational costs, enhanced reliability, and convenient & timely backup from a host to a destination system. These advantages are significantly propelling the demand for data protection, backup, and recovery solutions that avoid cyber-attacks, data loss, and theft.
Increasing instances of cyber-attacks, ransomware, and unauthorized access to information are the prime factors accelerating the adoption of such solutions. For instance, in May 2017, WannaCry ransomware affected private and public organizations. This cyber-attack infected more than 200,000 computers, in the BFSI, retail, and manufacturing, and other industries, across 150 countries.
The Asia Pacific regional market is in a transitional state and is marked by rapidly-evolving technologies and business requirements. Traditionally, the APAC data protection and recovery solutions market was relatively slower in adopting new technologies and practices, compared to the North American and European markets. However, the increasing flexibility, scalability, and uniformity of security offerings have accelerated their adoption this region.
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Grand View Research has segmented the global data protection and recovery solution market based on solutions, deployment, enterprise sizes, end-uses, and regions:
Data Protection and Recovery Solution Outlook (Revenue, USD Billion; 2014 - 2025)
·         Email Protection
·         Endpoint Data Protection
·         Application Recovery Management
·         Cloud Platforms
·         Others
Data Protection and Recovery Solution Deployment Outlook (Revenue, USD Billion; 2014 - 2025)
·         Cloud
·         On-premise
Data Protection and Recovery Solution Enterprise Size Outlook (Revenue, USD Billion; 2014 - 2025)
·         Large Enterprise
·         Small & Medium Enterprise
Data Protection and Recovery Solution End-use Outlook (Revenue, USD Billion; 2014 - 2025)
·         BFSI
·         Energy & Utilities
·         Government
·         Healthcare
·         Manufacturing
·         Retail
·         Others
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.






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