UK Data Backup and Recovery Market Trends, Growth, Analysis, Size, Share and Forecast 2019-2025

UK data backup and recovery market is estimated to grow considerably at a CAGR of 10.3% during the forecast period. UK is one of the most modern and technologically updated countries globally. The industries in the country are getting updated with the technology at a high rate and with this, the dependency on online services such as internet, cloud services, and IoT are increasing continuously. With increasing of this dependency, it is expected that the companies will increase their investment in digital security, backup and services from the service provider as the internet attacks are increasing considerably. As per the Cyber Security Breach Survey 2018, about 43% of all the firms have experienced a cyber-breach in 2018. Medium and large businesses were likely to have experienced breaches. Hence, in order to safeguard their data, companies use backup and recovery solution so that loss can be minimized in case of cyber-attack.

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The companies which are contributing to the growth of UK data backup and recovery market include Amazon Web Services, Inc., IBM Corp., Oracle Corp., Hewlett Packard Enterprise Co., and Microsoft Corp.

Increasing cybercrime is a major factor which is augmenting the need for data backup and recovery in the country. Hackers can breach personal data through financial fraud, theft of other valuable information and can harm financially. In 2018, as per Office for National Statistics, there were around 3.64 million fraud incidents in England and Wales, out of which 2.72 million had loss of data or capital or both. Additionally, there were 976,000 computer misuse cases which include 506,000 unauthorized access to personal information and hacking. Rate per 1,000 adults for frauds and computer misuse was 78 and 21 respectively. Due to all these factors, it is expected that there will be considerable motivation for the domestic players in the data backup and recovery market.

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The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups and technological advancements to stay competitive in the market.

UK Data Backup and Recovery Market Segmentation

UK Data Backup and Recovery Market by Deployment Type

o On-premises
o Cloud-based

UK Data Backup and Recovery Market by Application

o Media Storage
o E-mail Storage
o Application Storage

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