Press release
Data Resiliency Market Forecasted to Grow From Usd 11.69 Bn in 2018 to Usd 27.63 Bn by 2023, Expanding at a Compound Annual Growth Rate (Cagr) of 18.8%
Data resiliency is concomitant with disaster management and ensures data protection. Increasing data generation and growing concerns regarding its security are the factors expected to drive the growth of the global data resiliency market. The market is forecasted to grow from USD 11.69 Bn in 2018 to USD 27.63 Bn by 2023, expanding at a compound annual growth rate (CAGR) of 18.8%.
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Application segment insights:
The growth of the Blockchain sector is creating a plethora of opportunities for data resiliency vendors in the market. The banking, financial services, and insurance (BFSI) segment is projected to lead the market, with a share of 24% during the forecasted period, owing to the enormous amounts of data that is generated on a regular basis.
Deployment segment insights:
The cloud segment of the data resiliency market is expected to expand at a higher CAGR than the on-premises segment during the forecast period (2018-2023), owing to its cost-effectiveness.
The small and medium-sized enterprises (SME) segment of the data resiliency market is projected to grow at a higher CAGR than the large enterprises segment during 2018-2023.
Regional insights:
North America is expected to dominate the data resiliency market in 2018 with an approximately 36.5% share of the market - owing to the presence of a number of large players in this region - followed by Europe. The data resiliency market in the Asia-Pacific region is expected to expand at a significant CAGR of 20.5% during the forecasted period. This is due to the increased use of data resiliency solutions in various verticals such as retail and consumer goods, healthcare, IT and telecommunication, and BFSI, to protect and backup crucial enterprise data. Rising incidence of cyberattacks is one of the crucial reasons for the increased demand for data resiliency solutions in the Asia-Pacific region.
Companies covered:
1. Asigra Inc.
2. CA Technologies
3. Acronis
4. Carbonite, Inc.
5. Commvault Systems, Inc.
6. Veritas Technologies
7. IBM
8. Microsoft
9. Century Link
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Email : Sales@kennethresearch.com
About Kenneth Research:
Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.
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