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Secure Data Destruction Market Size, Scope Analysis, Key Insights, Leading Key Players, And Forecast To 2033
Secure Data Destruction Market Overview
As per the report, the secure data destruction market size has grown rapidly in recent years. It will grow from $3.02 billion in 2023 to $3.35 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The secure data destruction market size is expected to see rapid growth in the next few years. It will grow to $5.09 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%.
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The Surge Of Data Security Concerns Propelling Secure Data Destruction Market Growth
The increasing data security concerns are expected to propel the growth of the secure data destruction market going forward. Data security concerns refer to various issues related to the protection of data from unauthorized access, breaches, corruption, or theft. Data security concerns are growing due to increasing cyber threats, regulatory requirements, and the proliferation of digital devices and platforms. Secure data destruction helps alleviate data security concerns by permanently removing sensitive information from storage media, reducing the risk of unauthorized access and data breaches. For instance, in January 2022, the Identity Theft Resource Center, a US-based non-profit organization, revealed that the total number of compromised data in 2021 reached 1,862 incidents, marking a 68% increase from 2020. Therefore, the increasing data security concerns are driving the growth of the secure data destruction market.
Enhancing Data Security And Sustainability Through Advanced Erasure Services
Major companies operating in the secure data destruction market are creating infrastructure data erasure services to address environmental concerns and improve data security. Infrastructure data erasure services refer to various solutions and processes designed to securely and permanently delete data from information technology (IT) infrastructure components such as servers, storage devices, networking equipment, and cloud environments. For instance, in March 2024, International Business Machines Corporation, a US-based technology company, launched Infrastructure Data Erasure, designed to securely and sustainably erase data from end-of-life devices. This service utilizes advanced data erasure techniques to ensure that sensitive information is completely removed from storage devices, helping organizations comply with data protection regulations and reduce their environmental footprint. IBM's Infrastructure Data Erasure Services offer a reliable and efficient solution for securely managing data at the end of its lifecycle, supporting organizations in their efforts to protect sensitive information and promote sustainability.
The secure data destruction market covered in this report is segmented -
1) By Component: Software, Service
2) By Application: Optical Media, Universal Serial Bus (USB) Storage Flash, Hard Drives, Floppy Disks, Mobile Phones, Mass Storage, Tape Storage, Cloud Storage
3) By End-User: Telecommunication (Telecom) And Information Technology (IT), Data Centres, Healthcare, Banking, Financial Services, And Insurance (BFSI), Hospitality, Education, Government, Travel And Hospitality, Transportation, Other End-Users
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Major companies operating in the secure data destruction market are Microsoft Corporation, The Hewlett-Packard Company, International Business Machines Corporation, Iron Mountain Inc., Stericycle Inc., Electronic Recyclers International, Shred-Tech, Vecoplan LLC, WISETEK, Blancco Technology Group, Intimus International Group, PROSHRED, Avnet Inc., Xperien (Pty) Ltd., Computer Disposals Ltd., Whitaker Brothers, Security Engineered Machinery, Allegheny Shredders, Ameri-Shred Corp., Guardian Data Destruction, Garner Products Inc., Secure e-Cycle, Greenchip Inc., CyberCrunch, Data Destruction Corporation
Contents of the report:
1. Executive Summary
2. Secure Data Destruction Market Report Structure
3. Secure Data Destruction Market Trends And Strategies
4. Secure Data Destruction Market - Macro Economic Scenario
5. Secure Data Destruction Market Size And Growth
…..
27. Secure Data Destruction Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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