According to market
research report "Data Resiliency Market by Component (Solutions (Data Backup & Recovery, Data
Archiving & E-Discovery, Disaster Recovery), Services (Professional Services
& Managed Services)), Deployment, Organization Size, Vertical, and Region -
Global Forecast to 2023”, The
data resiliency market is expected to grow from USD 11.69 Billion in 2018 to
USD 27.63 Billion by 2023, at a CAGR of 18.8% from 2018 to 2023.
The
growth of the data resiliency market is primarily driven by the increasing data
privacy concerns and need to ensure data security, growing adoption of
cloud-based data backup and recovery solutions, and increasing data generation
from various sources.
Browse and in-depth TOC on “Data Resiliency Market”
72
- Tables
40
- Figures
144
- Pages
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The North American region
is expected to lead the data resiliency market in 2018.
The North American region
is expected to lead the data resiliency market in 2018. The growth of the North
America data resiliency market can be attributed to the presence of various key
players such as IBM (US), Commvault Systems, Inc. (US), Microsoft (US), and
VMware (US) in the region. Moreover, increased investments by various leading
market players in R&D activities also contribute to the increased demand
for data resiliency solutions in the North American region.
Based on organization
size, the small & medium enterprises segment of the data
resiliency market is projected to
grow at a higher CAGR than the large enterprises segment from 2018 to 2023.
Based on organization
size, the small & medium enterprises segment of the data resiliency market
is expected to witness higher growth than the large enterprises segment during
the forecast period. Cost-effectiveness is important for Small & Medium
Enterprises (SMEs) as they have limited budgets. Hence, these enterprises face
greater resource crunch than large enterprises and as such, require improved
methods to resolve complexities to ensure effective cost optimization of their
business processes. The implementation of cloud-based data resiliency solutions
is expected to result in increased revenues, desired business outcomes, and
improved business efficiency for SMEs.
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Based on deployment, the
cloud segment of the data resiliency market is projected to grow
at a higher CAGR than the on-premises segment during the forecast period.
Based on deployment, the
cloud segment of the data resiliency market is projected to grow at a higher
CAGR than on-premises segment during the forecast period. Cloud data resiliency
solutions are cost-effective. They are capable of storing larger volumes of
data than on-premises solutions. Moreover, cloud solutions offer reduced
downtime in case of any failure and help easily locate the data. Cloud
solutions also offer increased scalability as they allow an easy increase in
the data storage limit. Majority of the small & medium enterprises are
adopting cloud solutions as they help them in avoiding the costs related to
hardware, software, storage, and technical staff.
Some of the major vendors
of data resiliency solutions are Acronis (Switzerland), Asigra Inc. (Canada),
CA Technologies (US), Carbonite, Inc. (US), CenturyLink (US), Commvault
Systems, Inc. (US), IBM (US), Micro Focus (UK), Microsoft (US), NetApp (US),
Quest Software, Inc. (US), Unitrends (US), Veeam Software (Switzerland),
Veritas Technologies LLC (US), and VMware (US).
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