Data Protection and Recovery Solution Market Scope

Global Data-Protection-And-Recovery-Solution Market Size, Forecast, and Trend Highlights Over 2022 - 2031

The global data-protection-and-recovery-solution market is estimated to garner a revenue of approximately 18 billion by the end of 2031 by growing at a CAGR of about 32% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of more than USD 1 billion in the year 2021. The primary factor affecting the growth of the data-protection-and-recovery-solution market is the increased adoption of cloud computing by businesses globally. As of 2022, approximately 50% of organizations in Europe choose to store their encrypted and regular data on cloud technologies. Further, more than 90% of the workload was processed by cloud data centers in 2021.

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Data protection and recovery solutions provide protection for digital information from corruption, theft, and unauthorized access. Moreover, it provides solutions in the form of email protection, cloud platforms, end-point data protection, and others. There has been a rise in the volume of data across the globe that need protection and recovery solutions in their daily operations. Therefore, it is anticipated to drive the growth of the global data-protection-and-recovery-solution market trend. It is estimated that by 2025, the global data storage in the cloud will surpass 200 zettabytes. More than 80% of all enterprises resort to cloud computing using a multi-cloud strategy as it provides them with working backups for disaster recovery.

Global Data-Protection-And-Recovery-Solution Market: Growth Drivers and Challenges

Growth Drivers

• Significant Increase in the Incidents of Cybercrime - With the world increasingly adopting data storage on clouds, incidents of cybercrime are on the rise. Therefore, the increasing concerns about cybercrime is expected to upsurge the growth of the global data-protection-and-recovery solution market. For instance, according to the Internet Crime Report 2021 by the Federal Bureau of Investigation (FBI), the number of cybercrime complaints received from the American public in the year was 847,376, which is a 7% increase compared to 2020.

• Increasing Cases of Data Breaches - The growing menace of data breaches is another factor that is projected to contribute to the growth of the global data-protection-and-recovery-solution market. There has been an increase in the average cost of data breaches from 2020 to 2021 by 10%.

• Increase in the Practice of Working from Home During COVID-19– An increase in work-from-home jobs implies an increased usage of cloud computing technology. Hence, it is anticipated to increase the growth of the global data-protection-and-recovery-solution market. It is estimated that the number of Americans working from home by 2025 is to increase by approximately 90% compared to pre-pandemic days.

• Growing Trend of Bring Your Own Device (BYOD) With Businesses –An employee using a personal device for work raises more security concerns, thus creating opportunities for data protection and recovery solutions. Hence, it is projected to surge the growth of the global data-protection-and-recovery-solution market. For instance, it is estimated that about 70% of employees use their devices at work, and more than 80% of organizations have BYOD policies of some kind.

• Government Regulations Making Data Protection Mandatory – This significant recognition of data and privacy protection among countries is anticipated to drive the growth of the global data-protection-and-recovery-solution market.

Globally, over 70% of countries have laid out legalization to protect data privacy.

Challenges

• Limited Availability of Economical Software Suites in the Market

• Unforeseen Difficulties in Managing Redundant Software and Hardware

• Inherent Possibility of Data Corruption While Adopting Data Protection and Recovery Suites

The global data-protection-and-recovery-solution market is segmented and analyzed for demand and supply by solution into email protection, endpoint data protection, application recovery management, cloud platforms and others. Of these, the email protection segment is anticipated to hold the largest market size by the end of 2031 on the back of high-position email that has been used among enterprises as a means of communication and an increase in cyberattacks through emails. For instance, globally, there are more than 4 billion email users, with each user holding an average of 2 accounts in 2020. Moreover, there are more than 8 billion email accounts, and more than 3 billion emails are sent every second. Email plays a significant role in business marketing too.

Global Data-Protection-And-Recovery-Solution Market Regional Synopsis

Regionally, the global data-protection-and-recovery-solution market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. Amongst these, the market in the North America region is projected to hold the largest market share by the end of 2031 owing to the presence of the industrialized nation of the U.S., with its technological developments and innovations. In 2021, the U.S. held approximately 61 points in the innovation index compared to the global average of 132 countries at ~34 points.  

Moreover, with all the developments and the increasing amount of data stored online, the number of cybercrimes and data breaches has also increased in this region. This is expected to surge the growth of the market in the region. For instance, in 2021, the total count of data breaches in the U.S. was more than 1800.

Market Segmentation

Our in-depth analysis of the global data-protection-and-recovery-solution market includes the following segments:

Key Companies Dominating the Global Data-Protection-And-Recovery-Solution Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global data-protection-and-recovery-solution market that are included in our report are Acronis International GmbH., Actifio Inc., Commvault, Hewlett Packard Enterprise Development LP, IBM Corporation, Broadcom, Seagate Technology LLC, Veritas Technologies LLC, Veeam Software, Arcserve, Inc., and others.

Global Data-Protection-And-Recovery-Solution Market: Latest Developments

• June, 2022: Acronis International GmbH. - announced an advanced Data Loss Prevention (DLP) to prevent catastrophic data leaks through a quick and innovative approach.

• February, 2022: Veritas Technologies LLC- announced the launch of NetBackup 10 powered by its Cloud Scale Technology to provide a foundation for Autonomous Data Management.

Key Reasons to Buy Our Report

• The report covers a detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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