Data Resiliency Market Revenue, Major Players, Consumer Trends, Analysis & Forecast Till 2028

 


An escalation data security and privacy concerns and an enormous increase in the volume of data originating from various sources is expected to boost the market growth.

Market Size – USD 18.30 Billion in 2020, Market Growth - CAGR of 12.4%, Market Trends – Surge in deployment of Cloud-Based Data Backup and Retrieval Solutions.

The global Data Resiliency market is expected to reach USD 46.29 Billion by 2028, according to a new report by Reports and Data. Data resiliency finds application in making the data available to enterprises for various purposes such as making critical decisions, for smooth running of business operations, etc., even in the event of occurrence of an unwanted disaster like cyber-attacks, power failure, etc. Owing to an enormous volume of data being generated from varied sources, the concern pertaining to security of the stored data is estimated to propel the market for data resiliency.

Cloud-based technology is offering a number of facilities to various businesses on-line and backing up the critical company data is one among the many benefits of cloud-based technology. The requirement to retrieve the backed up data in case of any untoward incident will create a surge in the demand for data resiliency.

Availability of open-source alternatives to data resiliency would play a crucial role in bringing down the revenue of paid service and solution providers of data resiliency, thereby, hindering the growth of the market.

The Asia Pacific market is estimated to grow at a CAGR of 12.7% in the forecast period. The progress of the data resiliency in Asia Pacific market is chiefly determined by the escalating deployment of data resiliency services and solutions in different Industry verticals such as banking, financial services & insurance, IT & telecommunication, government, healthcare, media & entertainment to safeguard and backup their critical and important business data. A surge in the deployment of solutions offered by data resiliency has been witnessed in the Asia Pacific region owing to growing occurrences of cyber-attacks and ransom ware threats in this region. 

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Key participants include Asigra, Acronis, Carbonite, Centurylink, CA Technologies, IBM, Micro Focus, Netapp, Microsoft and Commvault.

Further key findings from the report suggest

  • The solutions provided by data resiliency is expected to grow at CAGR 12.4% while maintain its dominance in the market during the forecast period. The market dominance of the data resiliency solutions is owing to the massive funding by different enterprises to adopt data resiliency solutions to safeguard the crucial enterprise data from attacks made by cyber criminals.
  • The banking, financial services and insurance sector is projected to dominate the market with a growth rate of CAGR 12.5% in the forecast period. This dominance in the market can be attributed to the very high volume of data generation and processing in banking, financial services and insurance industry. The generated data encompasses critical and valuable business information like customers’ account numbers, transaction passwords, details of debit and credit card, etc. which need utmost protection and timely backup which may otherwise result in huge loss to the business.
  • Data resiliency solution providers equip BFSI companies to backup and retrieve data to maintain the smooth flow of their business operations. The mounting concerns among customers to guarantee the security of their sensitive data is also causative of the rise of this segment in data resiliency market.
  • North America market for data resiliency is projected to contribute to the largest market share with a growth rate of 12.4% owing to enormous investment in the field of data security by the companies the region especially US and Canada, to protect the crucial data as well as be able to retrieve it back as and when required.
  • On August, 2016, Egenera, a chief supplier of wholesale cloud services and cloud management software, and Asigra Inc., a foremost cloud backup, recovery and restore Software Company, announced the strategic agreement that empowers Egenera to provide a complete, secure Backup as a Service wholesale offering.

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/data-resiliency-market

For the purpose of this report, Reports and Data have segmented global data resiliency market on the basis of component, deployment, size of organization, industry vertical and region:

Component Outlook (Revenue, USD Billion; 2020-2028)

  • Solution
  • Service

Deployment Outlook (Revenue, USD Billion; 2020-2028)

  • Hybrid
  • On-Premise
  • Cloud-Based

Size of Organization Outlook (Revenue, USD Billion; 2020-2028)

  • Small & Medium-Sized Enterprise
  • Large Enterprise

Industry Vertical Outlook (Revenue, USD Billion; 2020-2028)

  • Banking, Financial Services & Insurance
  • Government
  • IT & Telecommunication
  • Healthcare
  • Media & Entertainment
  • Others

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Regional Outlook (Revenue, USD Billion; 2020-2028)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • MEA

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Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.

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