Data Resiliency Market Trends

Data Resiliency Market Overview

Data Resiliency Market Sizewas valued at USD 14.1 billion in 2022. The Data Resiliency Market industry is projected to grow from USD16.05 Billion in 2023 to USD 45.49 billion by 2032,exhibiting a compound annual growth rate (CAGR) of 13.90% during the forecast period (2022 – 2032). Data backup and recovery are among the data resilience options, which are thekey market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Data Resiliency Market Trends

Massive increase in data produced from different sources to boost market growth

Market CAGR for data resiliency is being driven by the increase in data production from a variety of sources, including the internet, mobile devices, enterprises, and popular technologies like loT, has increased exponentially. Data has expanded across numerous sites, including servers, virtual machines, mobile devices, and applications, as a result of the growing popularity of cloud computing and EDGE networks. To prevent loss or misuse, this data needs to be protected and regularly backed up. Solutions for processing vast volumes of data across various contexts are known as data resilience solutions. For complete data resilience and business continuity, these solutions can also offer users data backup & recovery and disaster recovery services.

Further, Block chain is a sequential storage system that is employed to keep track of transactions and settle contracts. Unquestionable data verification is made possible by the integration of block chain technology with data resilience solutions, which is a growing market. By processing the data and transactions with block chain technology, a distinctive signature that is validated by consensus rules is produced. Block chain-based data backup and recovery solutions keep track of data block hashes, which are verified using distributed and encrypted hashes. Vendors are able to offer backup data to users on local drives or the cloud thanks to the combination of blockchain-based data verification technologies with data resilience solutions like data backup and recovery.

Therefore, increasing awareness regarding the benefits of the product is expected to increase the Data Resiliency Market CAGR across the globe in the recent years.

Furthermore, many companies have started new solution techniques in respect to the Data Resiliency Market revenue

Data Resiliency Market Segment Insights

Data Resiliency Component Insights

The Data Resiliency Market segmentation, based on Component, includes Solution, Service. Solution segment's revenue share was the highest. The expansion of this market segment may be explained by the rising costs incurred by numerous companies to install data resilience solutions to safeguard their important corporate data from sophisticated cyber-attacks.Managed services and professional services are two more subcategories of services. Consulting services, implementation & integration services, and support & maintenance services are further categories for professional services. Solutions are further divided into three categories: data backup & recovery, disaster recovery, and data archiving & e-discovery.

Figure1: Market, by Component, 2022 & 2030 (USD billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Data Resiliency Deployment Insights

The Data Resiliency Market segmentation,based on Deployment, includes On-cloud, On-premise, and hybrid.On-premises data resiliency solutions are quick and have lower latency because of solid networking connectivity, which is expected to account for a higher share in 2022. When seeking for great performance across a variety of workload types, organisations prefer on-premises implementation. Because they cannot afford to lose sensitive data, including financial records, customer data, and information about money transactions, verticals including government defenceand BFSI prefer the on-premises deployment. Hence, rising use of On-premiseData Resiliency positively impacts the market growth.

Data Resiliency Organization size Insights

The Data Resiliency Market data has been bifurcated by Distribution Channelinto SMEs, and Large enterprise. Small and medium-sized businesses account for around 90% of all businesses worldwide, more than two-thirds of all jobs, and up to 70% of the world's gross domestic product (GDP). It is crucial to support this pillar of the world economy. The organizational competencies and orientations small and medium-sized businesses require to future-proof their operations are identified in the World Economic Forum's Future Readiness of SMEs study. The study identifies best practices that SMEs may use to take use of their size, networks, workforce, and technology to enhance market resilience, sustainable growth, and positive societal impact.

Data Resiliency Regional Insights

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North AmericaData Resiliency Market accounted for USD 6.45billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. This is due to increasing generation of data from various sources in countries across the region.

Further, the major countries studiedin the market reportare: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: DATA RESILIENCY MARKET SHARE BY REGION 2021 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

EuropeData Resiliency Market accounts for the second-largest market share, due to an increase in cyberattacks. in the region's nations, particularly in the UK, Germany, and Russia. Further, the Germany Data Resiliency Marketheld the largest market share, and the UK Data Resiliency Market was the fastest growing market in the European region

The Asia-Pacific Data Resiliency Market is expected to grow at the fastest CAGR from 2022 to 2030.This is because more and more businesses across a variety of industries, including retail and consumer goods, healthcare, IT and telecoms, and the financial services industry (BFSI), are using data resilience solutions to safeguard and back up important organisational data. Moreover, ChinaData Resiliency Market held the largest market share, and the IndiaData Resiliency Market was the fastest growing market in the Asia-Pacific region

Data Resiliency Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Data Resiliency Market to grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Data Resiliency industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the Data Resiliency industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, Data Resiliency industry has provided with some of the best Disaster recovery. The Data Resiliency Market major player such as Asigra Inc. (Canada), Unitrends (US), Quest Software Inc. (US), CA Technologies (US), Carbonite Inc. (US) and others are working to expand the market demand by investing in research and development activities.

After acquiring GroupLogic, Inc., Acronis was able to purchase the software that went into creating Acronis Access Advanced, which enabled Acronis to connect mobile devices, including Apple ones, into enterprise environments. Acronis now offers greater mobile device data security thanks to the acquisition. GroupLogic obtained access to the clientele of Acronis.ACE Pacific Group, one of the cybersecurity distributors in the APAC region, and Acronis, a participant in the cyber protection space, have announced their multiyear agreement. The partnership will principally allow complete access to Acronis' cyber protection solutions through the extensive distribution networks of the ACE Pacific Group.. In August 2019: Acronis has a detailed understanding of how personal technology users' habits, priorities, and experiences have changed over the course of four years of survey data. These results show that a large audience is acutely conscious of the value of their data and the risks, both intentional and unintentional, that pose a threat to its security.

Also, Microsoft is aware that given the complexity of cloud computing, it's a matter of when things will go wrong rather than if. Our cloud services are built with a focus on stability and minimising consumer harm when things go wrong. Instead of using a complicated physical infrastructure as in the past, we now immediately include redundancy into our cloud services. We combine less complex physical infrastructure with smarter software to provide our customers with high availability while incorporating data resilience into our services.. In September, 2023: Accenture (NYSE: ACN), Microsoft (Nasdaq: MSFT) and Unilever (LSE: ULVR) have completed one of the largest and most complex cloud migrations in the consumer goods industry.

Key Companies in the Data Resiliency Market includes

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  Acronis (Switzerland)

  
  


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  Veeam Software (Switzerland)

  
  


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  Asigra Inc. (Canada)

  
  


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  Unitrends (US)

  
  


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  Quest Software Inc. (US)

  
  


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  CA Technologies (US)

  
  


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  Carbonite Inc. (US)

  
  


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  Micro Focus (UK)

  
  


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  NetApp (US)

  
  


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  CenturyLink (US)

  
  


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  Microsoft (US)

  
  


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  Commvault Systems Inc. (US)

  
  


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  IBM (US)

  
  

Data Resiliency Industry Developments

March2020:Datrium, a provider of the secure multicloud data platform for the resilient enterprise, announced it has been granted five new US patents for data resilience and durability, improvements in server-powered deduplication, improved storage performance, encryption and compression, and data path monitoring for improved network resilience.

October 2019:The Ryukransomware strain hit the three healthcare facilities that DCH Health Systems runs throughout the nation. All of these medical facilities have emergency protocols in place to protect their patients, and the firm is attempting to identify the threat. These cyberattacks are anticipated to expand in the nation across all domains, which would raise the market's need for resilience solutions.

June 2020:Commvault, a well-known international enterprise software provider for managing data across cloud and on-premise environments, recently announced that it has signed a multi-year agreement with Microsoft to integrate the go-to-market, engineering, and sales of the company's Metallic Software-as-a-Service (SaaS) data protection portfolio with Microsoft Azure, primarily delivering scale and trusted security with straightforward SaaS management.

Data Resiliency Market Segmentation

Data Resiliency Component Outlook

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  Solution

  
  


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  Service

  
  

Data Resiliency Deployment Outlook

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  On-cloud

  
  


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  On-premise

  
  


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  Hybrid

  
  

Data Resiliency Organization size Outlook

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  SMEs

  
  


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  Large enterprise

  
  

Data Resiliency Regional Outlook

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  North America

  
  

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  US

  
  


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  Canada

  
  

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  Europe

  
  

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  Germany

  
  


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  France

  
  


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  UK

  
  


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  Italy

  
  


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  Spain

  
  


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  Rest of Europe

  
  

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  Asia-Pacific

  
  

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  China

  
  


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  Japan

  
  


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  India

  
  


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  Australia

  
  


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  South Korea

  
  


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  Australia

  
  


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  Rest of Asia-Pacific

  
  

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  Rest of the World

  
  

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  Middle East

  
  


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  Africa

  
  


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  Latin America