Many industries such as healthcare, and retail are moving towards the adoption of data protection and security solutions to protect their digital assets against cyber-crime. The market for data protection and recovery software is growing progressively due to the extensive requirement for solutions that can provide data resiliency, operational efficiencies, and timely information related to installed data center infrastructure.
Data protection and recovery software provides data backup, integrity and security for data backups and it enables timely, reliable and secure backup of data from a host device to destination device. Recently, Data Protection and Recovery Software market is disrupted by innovative technologies such as server virtualization, disk-based backup, and cloud services where emerging players are playing important role. Tier one players such as IBM, Hewlett Packard Enterprise, EMC Corporation, Symantec Corporation and Microsoft Corporation are also moving towards these technologies through partnerships and acquisitions.
Data Protection and Recovery Software Market: Drivers and Challenges
The major factor driving data protection and recovery software market is the high adoption of cloud based services and technologies. Many organizations are moving towards cloud to reduce their operational expenses and to provide real time access to their employees. However, increased usage of cloud, has increased the risk of data loss and data theft and unauthorized access to confidential information, which increases the demand for data protection and recovery solution suites.
The restraint for data protection and recovery software market has always been the lesser availability of cost effective software suites in the market due to which many organizations unable to implement these data protection solutions. Moreover, rapid growth of data, costly compliances, management of redundant hardware and software in multiple locations, and data corruption are some other challenges that organizations are facing while adopting these data protection and recovery suites.
Data Protection and Recovery Software Market: Segmentation
In this market companies offer software solutions
Segmentation on the basis of solution:
In February 2016, HPE has acquired Trilead, a data protection software developer to improve HPE offerings for backup solutions. This acquisition will help HPE to enhance its offerings for cloud back-up, file storage, and data encryption.
In January 2016, Carbonite, a cloud service provider has acquired EVault, a data backup and recovery solution provider. This acquisition will help Carbonite to provide data protection and disaster recovery solutions to its small and medium business clients which are using Carbonite’s cloud based services.
In August 2016, CommVault has entered into the partnership with Huawei for creating a joint lab to develop data backup, recovery and cloud solutions. This partnership will help both companies in creating an integrated offering with bundled service agreements.
In September 2016, Orixcom, one of the managed IT service provider has entered into the partnership with Arcserve, an UAE based cloud platform provider to benefit customers of both the companies by offering integrated data protection solutions to protect hybrid cloud. The companies will provide solutions such as disaster recovery as a service and data protection as a service for customers.
At present, North America region holds the largest market share of global data protection and recovery software market. The market is mounting broadly in countries such as U.S. and Canada due to the high adoption of security solutions and rising data loss and hacking. The major solution vendors in this market are from North America, creating high growth opportunity for users in these market. Companies such as HP and Dell are also creating integrated cloud based solutions in this market to improve market opportunities.
The Asia Pacific region is following the North America region in this data protection and recovery software market is expected to have the highest growth rate in coming years due to the adoption of managed services and the growing usage of hosted and cloud based solutions in countries such as India.
In Europe region, the market for data protection and recovery software is witnessing high growth rate due to the increasing demand of data loss prevention and data backup solutions.
The report covers exhaustive analysis on:
Data protection and Recovery software Market Segments
Regional analysis for Data protection and Recovery Software Market includes development of these systems in the following regions:
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.