Data Protection and Recovery Solution Market is estimated to grow at a CAGR of approximately 15.80% during the forecast period 2023-2032

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Market Highlights

In today’s information-driven business environment, data must be available and readily accessible anytime, anywhere. Increasing availability demands and the exponential growth of business-critical information residing on databases makes the adoption of data protection and recovery solutions of high importance. For instance, HPE StoreOnce, a data protection backup appliance solution, a plug-in for Oracle RMAN, gives Oracle DBAs direct control over the backup and recovery of their applications. This empowers them to create their own application-specific data protection strategies to suit the needs of the organization using the familiar RMAN interface and utilities. This improves the productivity of Oracle administrators and frees up valuable time for backup administrators to focus on strategic initiatives.

Data Protection and Recovery Solution Market to achieve 15.80% CAGR during Forecast Period 2023-2032, Data Protection and Recovery Solution Market is projected to have USD 0.3744 billion Revenue during forecast period 2023-2032

Key Players

Some of the key players of data protection and recovery market include IBM (U.S), Oracle (U.S), Hewlett Packard (U.S), Veeam Software (U.S), Commvault(U.S), McAfee (U.S), Symantec (U.S), CA Technologies (U.S), Acronis International GmbH (Switzerland), NetApp (U.S).

Other players in the market include Arcserve(U.S), Unitrend(U.S), Quantum Corporation (U.S) among others. The prominent players keep innovating and investing in research and development initiatives to present cost-effective offerings. Merger and acquisitions among the various players are changing the market structure. For instance, On July 17, 2017, Arcserve acquired Zetta, the cloud data protection and disaster-recovery solutions company. After acquiring Zetta, Arcserve was able to deliver a near-zero data loss recovery point objective (RPO) solution with instant recovery time objective (RTO) for the midmarket.

Regional Analysis

The global market for data protection and recovery solution market is estimated to grow at a significant rate during the forecast period 2018 – 2023. The geographical analysis of data protection and recovery solution market is covered for the regions such as North America, Europe, Asia Pacific and rest of the world. North America is expected to dominate the data protection and recovery solution market due to the increasing frequency of cyber-attacks and the need to protect the data. Also, increase in initiatives by government to enhance the security of customer information is driving the growth of data protection and recovery market. For instance, The Federal Trade Commission Act (FTC Act) is a federal consumer protection law that prohibits unfair or deceptive practices. It applies to offline and online privacy and data security policies. Asia Pacific region is expected to grow in forecast period due to rapid digitalization, the presence of SME’s and large Enterprises, and growing adoption of cloud services. Also, owing to the rising investment in BFSI, telecommunication, healthcare, aerospace, and other end-user industries, the market for data protection and recovery solutions is expected to grow.