Global Data Resiliency Market, Forecast to 2022
Bharat Book Bureau Provides the Trending Market Research Report on “Global Data Resiliency Market, Forecast to 2022” under Media & Technology category. The report provides information on industry overview, market size, latest developments, industry trends, Major Market Players, global presence, and their future prospects.
Increasing data generation from various sources and growing concerns for dataZ privacy and need to ensure data security are factors expected to drive the growth of the data resiliency market across the globe
The data resiliency market is projected to grow from USD 11.69 billion in 2018 to USD 27.63 billion by 2023, at a CAGR of 18.8% during the forecast period from 2018 to 2023. Factors such as increasing data generation from various sources, growing data privacy concerns and the need to ensure data security, and rising adoption of cloud-based data backup and recovery solutions are expected to fuel the growth of the data resiliency market across the globe. However, the availability of open-source alternatives for data resiliency solutions is a key factor restraining the growth of the market across the globe.
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Based on component, the solutions segment is expected to lead the data resiliency market in 2018
Based on component, the solutions segment is expected to lead the data resiliency market in 2018. The growth of this segment of the market can be attributed to the increased investments by various organizations to deploy data resiliency solutions for securing their critical business data from advanced cyberattacks.
Among verticals, the Banking, Financial Services, and Insurance (BFSI) segment is expected to lead the data resiliency market in 2018
The BFSI vertical segment is expected to lead the data resiliency market in 2018. The growth of this segment of the market can be attributed to the fact that the BFSI sector generates and processes high volumes of data on a daily basis. This data comprises crucial information such as transaction passwords, account numbers, and credit/debit card details, which need high security and timely backup. Data resiliency solution providers enable BFSI enterprises to backup & recover data to maintain their business continuity. Moreover, growing concerns among customers to ensure the security of their critical data are also leading to the growth of the BFSI vertical segment of the data resiliency market.
The Asia Pacific data resiliency market is projected to grow at the highest CAGR during the forecast period
The data resiliency market has been studied in North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. Data resiliency solutions are being adopted in the Asia Pacific region at a significant rate. The growth of the Asia Pacific data resiliency market is primarily driven by the increasing use of data resiliency solutions in various verticals such as BFSI, IT & telecommunication, retail & consumer goods, and healthcare to protect and backup their crucial enterprise data. There is also an increase in the adoption of data resiliency solutions in the Asia Pacific region due to rising instances of cyberattacks and ransomware attacks in this region.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the data resiliency market.
- By Company Type: Tier 1: 23%, Tier 2: 15%, and Tier 3: 62%
- By Designation: C-level: 30%, Director-level: 20%, and Others: 50%
- By Region: North America: 27%, Europe: 18%, Asia Pacific: 46%, and Rest of the World: 9%
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