Kenneth Research, the division of Research Nestor, recently released a research report entitled “Data-Protection-and-Recovery-Solution Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global data-protection-and-recovery-solution market in terms of market segmentation by component, by solution, by deployment, by enterprise size, by end user and by region.
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Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global data-protection-and-recovery-solution market is expected to grow at a CAGR of approximately 32% from 2022-2031. The market is segmented by solution into email protection, end point data protection, application recovery management, cloud platforms and others. Out of these, the email protection segment is anticipated to hold the largest market share by the end of 2031, owing to email holding a high position among the means of communication, and the increase in cyberattacks through emails.
The global data-protection-and-recovery-solution market is expected to hold a revenue of about USD 18 billion by 2031 growing from approximately USD 1 billion in 2021. The market growth can be attributed to an increasing cases of data breaches, increase in the practice of work-from-home jobs during COVID-19, growing trend of bring your own device (BYOD) with businesses, and government regulations making data protection mandatory.
Geographically, the data-protection-and-recovery-solution market is divided into five major regions, including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in the North America region is projected to hold the largest market share by the end of 2031, backed by technological developments and innovations, wide usage of cloud computing, and increase in the occurrences of cybercrimes and data breaches.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Incidence of Cybercrime to Drive the Growth of the Market
As per the Internet Crime Report 2021 by the Federal Bureau of Investigation (FBI), there was 847,376 number of cybercrime complaints received from the American public in the year, representing 7% increase as compared to 2020.
There has been an increase in cybercrimes followed by an increase in the amount of data stored online with a security risk. This security risk in cloud data storage calls for strong measures to prevent the theft and breach of data. Moreover, the expenditure on cyber security services accounts for a considerable share of all budgets. To conclude, the increase in cybercrimes is expected to surge the growth of the global data-protection-and-recovery-solution market.
However, limited availability of economical software suites, difficulties in managing redundant software and hardware, and data corruption while adopting data protection and recovery suites are expected to operate as key restraint to the growth of data-protection-and-recovery-solution market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global data-protection-and-recovery-solution market which includes company profiling of 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. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global data-protection-and-recovery-solution market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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