The data resiliency market is expected to grow from USD 11.69 Billion in 2018 to USD 27.63 Billion by 2023, at a CAGR of 18.8% from 2018 to 2023. The growth of the data resiliency market is primarily driven by the increasing data privacy concerns and need to ensure data security, growing adoption of cloud-based data backup and recovery solutions, and increasing data generation from various sources.
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Research methodology used to estimate and forecast size of data resiliency market began with obtaining data from revenues of key vendors through secondary sources such as annual reports, white papers, certified publications, databases such as Factiva and Hoovers, press releases, and investor presentations of vendors of data resiliency solutions, articles from recognized industry associations, statistics bureaus, and government publishing sources. Vendor offerings were also taken into consideration to determine the market segmentation.
Key Target Audience
- Data Resiliency Solution Providers
- Data Backup and Recovery Solution Providers
- Managed Service Providers
- System Integrators
- IT Infrastructure Managers
- Third-party Service Providers
- Technology Providers
BFSI vertical segment is expected to lead the data resiliency market in 2018.
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Growth of this segment of the market can be attributed to fact that the BFSI sector generates & processes high volumes of data on a daily basis. This data comprises crucial information like transaction passwords, account numbers, and credit/debit card details, which need high security & timely backup.
Data resiliency solution providers enable BFSI enterprises to backup & recover data to maintain their business continuity.
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Data resiliency market has been studied in North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Data resiliency solutions are being adopted in Asia Pacific region at a significant rate.
Growth of Asia Pacific data resiliency market is primarily driven by increasing use of data resiliency solutions in various verticals like BFSI, IT & telecommunication, retail& consumer goods, and healthcare to protect and backup their crucial enterprise data.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the data resiliency market.
- By Company Type: Tier 1:23%, Tier 2:15%, and Tier 3: 62%
- By Designation: C-level: 30%, Director-level:20%, and Others: 50%
- By Region: North America:27%, Europe: 18%,Asia Pacific: 46%, and Rest of the World: 9%
The ecosystem of the data resiliency market includes key players such as Acronis (Switzerland), Asigra Inc. (Canada), CA Technologies (US), Carbonite, Inc.
(US), CenturyLink (US), Commvault Systems, Inc. (US), IBM (US), Micro Focus (UK), Microsoft (US), NetApp (US), Quest Software, Inc.
(US), Unitrends (US), Veeam Software (Switzerland), Veritas Technologies LLC (US), and VMware (US).
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The data resiliency solutions market has been segmented based on component, deployment, organization size, vertical, and region. Based on component, the data resiliency market has been segmented into solutions and services.
The solutions component segment of the data resiliency market has been further classified into data backup & recovery, data archiving & e-discovery, and disaster recovery.
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- The report is expected to help market leaders/new entrants in this market by providing them the closest approximations of sizes of the data resiliency market and its sub segments. This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market by offering them insights to improve the position of their businesses and implement suitable go-to-market strategies.
- This report also aims to enable stakeholders to understand the pulse of the market and provide them with the information on key market drivers, restraints, challenges, and opportunities.
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