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Data Destruction Services Market Size, Share, Growth And Forecast 2033
Data Destruction Services Market Size
As per the report, the data destruction services market size has grown rapidly in recent years. It will grow from $8.68 billion in 2023 to $10.18 billion in 2024 at a compound annual growth rate (CAGR) of 17.4%. The data destruction services market size is expected to see rapid growth in the next few years. It will grow to $19.46 billion in 2028 at a compound annual growth rate (CAGR) of 17.6%.
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Growing Data Security Awareness Drives Expansion Of Data Destruction Services Market
The growing awareness of data security is expected to propel the growth of the data destruction services market going forward. Data security refers to the protective measures implemented to safeguard digital information from unauthorized access, corruption, or theft. Data security awareness is attributed to increasing cyber-attack incidences, stringent data protection regulations, growing dependence on digital data, and publicized data breaches. Data destruction services are helpful in data security by ensuring that sensitive information is permanently and irretrievably destroyed, preventing unauthorized access, mitigating the risks of data breaches, and ensuring compliance with data protection regulations. For instance, according to the 2022 Data Breach Report published by the Identity Theft Resource Center, a US-based non-profit organization, the number of data breach incidents reported increased by 68% in 2022, with 1,862 breaches reported compared to 1,108 breaches in 2021. Therefore, the growing data security awareness drives the data destruction services market.
Innovations In SSD Disintegration Technology Enhance Data Destruction Services
Major companies operating in data destruction services focus on introducing innovative data destruction techniques with Solid-state drive (SSD) disintegration technology to enhance security and efficiency. Solid-state drive (SSD) disintegration technology explicitly targets the destruction of SSDs, which are more difficult to erase and dispose of than traditional hard drives. For instance, in June 2021, EPC Inc., a US-based technology company, introduced solid-state drive (SSD) destruction services based on SSD disintegration technology to address the unique challenges of securely disposing of SSDs. The process involves compact, self-contained disintegrators that shred SSDs into particles smaller than 2mm, effectively turning sensitive data into dust. This technology is integrated into EPC's Data Destruction and Recycling Vehicles (DDRVs) fleet, which can hold multiple SSD disintegrators alongside hard drive shredding units.
The data destruction services market covered in this report is segmented -
1) By Type: Physical Destruction, Software Data Elimination
2) By Method: Degaussing, Hidden Data, Overwriting, Shredders
3) By Service Site: Offsite, Onsite
4) By End-User: Aerospace And Defense, Automotive And Transportation, Banking, Financial Services, And Insurance (BFSI), Building, Construction And Real Estate, Consumer Goods And Retail, Education, Telecommunication And Information Technology (IT), Other End-Users
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Major companies operating in the data destruction services market are Microsoft Corporation, Dell Technologies Inc., International Business Machines Corporation, Veolia, Avnet Inc., Iron Mountain Inc., Stericycle Inc. , Sims Lifecycle Services, Shred-Tech, WISETEK, Intimus International Group, Crown Records Management, Computer Disposals Ltd., Guardian Data Destruction, All Green Electronics Recycling, Techchef Consulting India Pvt Ltd., Entre Technologies, MRK Group Ltd., Verity Systems, Proton Data Security, WC Computer Recycler Inc., Titan Mobile Shredding, Phiston Technologies Inc., Greenchip Inc., GEM Lifecycle
Contents of the report:
1. Executive Summary
2. Data Destruction Services Market Report Structure
3. Data Destruction Services Market Trends And Strategies
4. Data Destruction Services Market - Macro Economic Scenario
5. Data Destruction Services Market Size And Growth
…..
27. Data Destruction Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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