Press release
Data Protection Software Market to Witness an Outstanding Growth by 2018 to 2028
The introduction of big data & cloud computing and the need for rapid data recovery are compelling IT organizations to continuously expand data protection solutions. Today, due to an increase in the adoption of advanced data technologies, data has become an essential part of every business. Each day, large amounts of data are generated to make business decisions. This vast amount of data generated from different sources can lead to data breach and data loss. Hence, data protection software has been introduced to prevent this data loss. This data protection software offers data backup and recovery solutions that help keep a backup of data by copying it to a disk or tape. Data protection software also delivers backup of data on public and hybrid clouds. The primary factors driving the data protection software market are the generation of a high amount of data, the need for its security, as well as privacy concerns. Moreover, the dependency of enterprises on software applications, which include customer relationship management and emails, is leading to a rapid surge in the volume of data generated by organizations. This rapid growth in data has forced enterprises to install efficient and reliable data protection software to secure confidential information in business environments.
Global Data Protection Software Market: Dynamics
The factors driving the data protection software market are increase in the demand for advanced data protection solutions, increase in the number of cyberattacks, and the growing concern regarding the loss of critical data in an organization.
However, security and privacy issues are some of the factors restraining the growth of the data protection software market. Moreover, large infrastructure developments for the protection of cloud data are also likely to hamper the growth of the data protection software market.
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Latest trends in the data protection software market include an increase in the usage of advanced data backup on cloud and data recovery solutions.
Global Data Protection Software Market: Segmentation
Segmentation Overview
The data protection software market can be segmented on the basis of type, organization size, end-use industry, and region. On the basis of type, the data protection software market can be segmented into solutions and services. The solutions segment of the data protection software market is further segmented into data loss prevention, data backup & recovery, disaster recovery, data replication services, compliance management, and others. On the basis of organization size, the data protection software market can be segmented as small & medium enterprises and large enterprises. On the basis of organization size, the data protection software market can be segmented as small & medium enterprises and large enterprises. On the basis of end-use industry, the data protection software can be segmented into BFSI, government, defense, telecommunication & IT, retail, hospitality, energy & utilities, and others.
By Type
Solutions
Data Loss Prevention
Data Backup & Recovery
Disaster Recovery
Data Security
Data Replication Services
Compliance Management
Others
Services
By Organization Size
Small & Medium Enterprises
Large Enterprises
By End Use Industry
BFSI
Government
Defense
Telecommunication & IT
Retail
Hospitality
Energy & Utilities
Others
Global Data Protection Software Market: Competition Landscape
Some of the key players in the global data protection software market include Check Point Software Technologies; Trend Micro; Symantec Corporation; McAfee, LLC; Acronis International GmbH; NetApp; Quest Software Inc.; IBM Corporation; Oracle; Veeam Software; Hewlett Packard Enterprise Development LP; Dell; Microsoft Corporation; Veritas Technologies LLC; CA Technologies; and Trilio Data, Inc.
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Global Data Protection Software Market: Regional Outlook
The North America region is expected to dominate the data protection software market followed by Europe and Asia Pacific. The data protection software market in North America is expected to witness higher growth due to the vast presence of key data protection vendors in the U.S. The demand for data protection software in Europe is increasing due to government regulations to increase the adoption of data protection solutions in different verticals, and this factor is expected to contribute to the growth of the data protection software market. Increase in cyberattacks on various organizations leads to data theft and data loss, which is also one of the factors driving the adoption of data protection software in the Asia Pacific region. Latin America and MEA are projected to account for a significant share of the global data protection software market over the forecast period.
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