Data Resiliency Market is expected to foresee significant growth. Asia-Pacific to lead the growth!
- Himanshu Patni
- July 8, 2022
- NEWS, TELECOM & IT
- Data Resiliency Market, Data Resiliency Market Growth, Data Resiliency Market Share, Data Resiliency Market Size
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The data resiliency market is predicted to grow at a CAGR of around 17% during the forecast period. Key factors influencing the growth of the data resiliency market are the increasing adoption of cloud-based data backup and recovery solutions, increasing data safety concerns, and high growth in data generated throughout the years from various sources. For instance, it is expected that the world would generate over 180 zettabytes of data in 2025 while total data generated stood at around 64 zettabytes in 2020. All this data needs to be stored, processed, and secured with appropriate measures. A strong data resiliency strategy largely reduces the vulnerability of enterprise data, reducing the risk of critical data loss and minimizing the impact of downtime, outages, data breaches, and natural disasters. Thus, creating opportunities for the key market players in the data resiliency market.
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Massive growth in data generated throughout the years from the various sources is a prominent factor driving the growth of the data resiliency market because as the size of generated data increases the need for this data to be secured also increases due to the rising number of cyber-attacks. Data resiliency significantly reduces the vulnerability of data, reducing the risk of critical data loss and minimizing the impact of downtime, outages, data breaches, and natural disasters. In a truly resilient system, data gets recovered seamlessly that users never know that a disruption has occurred.
Based on type, the market is segmented into solutions and services. In 2020, the solutions segment accounted for a significant share of the global data resiliency market due to the increasing demand for data backup and recovery, data archiving, and disaster recovery. Data backup refers to the practice of copying data from a primary to a secondary location, to protect it in case of a data loss, accident, or any kind of disaster that can cause compromising sensitive data. Moreover, data is extremely important for organizations, and losing data can cause massive damage and disrupt business operations.
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Based on industry, the market is segmented into banking and financial services, information and communication technology, government, media and entertainment, healthcare, and others. In 2020, banking and financial services accounted for substantial share in the global data resiliency market due to the need for high data security and appropriate backup in the banking sector. The banking and financial industry generates and processes massive volumes of data on daily basis. Further on, data resiliency helps the banking and financial services industry to backup and recovery data to maintain business continuity.
The APAC is projected to grow at a substantial rate during the forecast period. This can be attributed to the rise in cyber-attacks and ransomware attacks in this region. This has fueled the data resiliency market in the region. In the APAC region, small and large enterprises use data resiliency to achieve business continuity in the event of data loss and failures. Moreover, the region is one of the largest hub for IT-BPM service and they need data resiliency most because the IT and software industry work with a lot of data. Furthermore, the banking and financial services industry is developing significantly, banks, in particular, have strengthened their balance sheets, making them more resilient to external shocks. According to the Asian Development Bank, the region’s middle-income economies have also made progress in developing the core of their domestic capital markets and non-banking sectors. The banking sector uses data resiliency to protect its critical data in order to get an uninterrupted business continuity.
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Some of the major players operating in the market include Acronis International GmbH, Microsoft Corporation, Asigra Inc., International Business Machines Corporation, NetApp Inc., VMware Inc., Veritas Technologies LLC., Carbonite Inc., Hewlett Packard Enterprise, and Veeam Software AG.
Satellite Transponders Segmentation
Market Insight, by Type
Market Insight, by Deployment
Market Insight, by Organization Size
- Large Enterprises
Market Insight, by Industry
- Banking and Financial Services
- Information and Communication Technology
- Media and Entertainment
Market Insight, by Region
- North America Data Resiliency Market
- Rest of North America
- Europe Data Resiliency Market
- Rest of Europe
- Asia-Pacific Data Resiliency Market
- South Korea
- Rest of Asia-Pacific
- Rest of World Data Resiliency Market
Top Company Profiles
- Acronis International GmbH
- Microsoft Corporation
- Asigra Inc.
- International Business Machines Corporation
- NetApp Inc.
- VMware Inc.
- Veritas Technologies LLC.
- Carbonite Inc.
- Hewlett Packard Enterprise
- Veeam Software AG