Data Resiliency Market: - An Overview
Data resiliency refers to efficient management of data protection activity, in the situation of any malicious event, risk or failure. Data resiliency approach secures the continuous availability of business data and applications, even in case of any adverse events such as power outage, cyber-attacks, and server overload. Data resiliency solutions provides recovery and backup, replication, and disaster recovery from various platforms, in case of any emergency. With data resiliency, companies secure and protect mission-critical data. Companies with significant workloads, use various data resiliency methods at different business levels within the data center. The potential loss of critical data drives companies to develop business continuity, disaster recovery, and data resilience plans. Hence, the need to protect critical data and ensure business continuity, is driving the market growth.
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Increasing Adoption of Data Resiliency amid the COVID-19 Pandemic outbreak
The COVID-19 pandemic has impacted many industries in unprecedented ways, around the globe. During the COVID-19 lockdowns in Q1-Q2, 2020, the enterprises were temporarily shutdown and employees were working from home, accessing business sensitive data via remote services. This has increased the concerns of unauthorized access to those critical business data. Hence, every organization should consider business continuity and recovery, as a critical approach to secure the data workloads.
Organizations should take the time to review their resilience and disaster response plans so that they are prepared for the potential impacts, during an adverse event. COVID-19 outbreak has undoubtedly created new security threats, as cyber attackers take benefit of the poor data security policies and target data sources accessed while working from home activities. Hence, to prevent such data breaches and ensure business continuity, enterprises are looking forward toward robust disaster response plans. This would increase the market adoption of such data resiliency solutions, during the COVID-19 pandemic.
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Data Resiliency Market: Drivers and Restraints
Increasing Demand for Cloud-based Data Backup
The cloud-based data backup market has propelled a lot and has arrived at the degree of capacity to offer organizations the capacity to maintain their business through their cloud-based platforms. Organizations require to use resiliency strategies across technology, people, and processes, to continuously update their threat response strategies. These factors are propelling data resiliency solution demands. Increasing efficiency, better control and monitoring, enhanced security, faster and easier data recovery and backup, and easier scalability are some of the main reasons that make cloud-based services so appealing to the enterprises.
It is essential for organizations to be well prepared for all types of disasters, whether in the form of cyberattacks, hardware failure, or natural disasters. Many companies depend on the cloud for backups and for more data security and business continuity, which increases the demand for the data resilience market. Organizations would require more and more cross-departmental analysis from integrated data. To ensure data quality, checking, monitoring, and data resiliency are very important. Rapidly increasing data volume, as well as external and internal data sources are increasing the demands for data resiliency solutions.
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Data Resiliency Market: Segmentation
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The Data Resiliency market is segmented on the basis of Vertical:
- IT & Telecommunication
Data Resiliency Market: Competition Landscape
The prominent data resiliency solution vendors are doing strategic partnerships and collaborations with small-scale data security vendors, to offer a robust disaster recovery approach. This would help them to gain large market shares and increase their customer bases. Some of the prominent players in data resiliency market are Asigra Inc., Microsoft, Broadcom, Micro Focus, Commvault Systems, Inc., Carbonite, Inc., IBM, NetApp, CenturyLink, Quest Software, Inc., Veeam Software, Unitrends, VMware, and Veritas Technologies LLC, among others.
Data Resiliency Market: Regional overview
Based on the region, the data resiliency market across North America, Latin America, East Asia, Europe, South Asia & Pacific, and MEA. The North America & Europe together holds more than 50% of the market shares in 2019. These regions have high presence of data security and disaster recovery solution providers, to help SMEs and large enterprises to design a robust data resiliency plans. In South Asia & Pacific, and East Asia, there is rapid increase in adoption of cloud, big data analytics, and IoT across various organizations which would increase the demand for the data resiliency market, during the forecast period.
The data resiliency market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and 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 data resiliency market attractiveness as per segment. The data resiliency market report also maps the qualitative impact of various market factors on Data Resiliency market segments and geographies.
The report covers exhaustive analysis on:
- Data Resiliency Market Segments
- Data Resiliency Market Dynamics
- Data Resiliency Market Size
- Supply & Demand Analysis
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Impact of COVID-19 on market growth
- Data Resiliency Market Drivers and Restraints
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Rest of Latin America)
- Europe (Germany, Italy, U.K, Spain, France, BENELUX, Russia, Rest of Europe)
- East Asia (China, Japan, & South Korea)
- South Asia & Pacific (India, ASEAN, Australia & New Zealand, Rest of South Asia)
- Middle East and Africa (GCC Countries, Turkey, South Africa, Rest of MEA)
- Detailed overview of parent data resiliency market
- Changing data resiliency market dynamics in the industry
- In-depth data resiliency market segmentation
- Historical, current, and projected data resiliency market size in terms of value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint