Market Research Future (MRFR), in its recently published research report, asserts that the global data resiliency market 2020 is expected to grow exponentially over the review period, recording a substantial market valuation of USD 21 billion, and a healthy 15% CAGR in the forecast period.

Drivers and Restraints

Every organization is seeing massive growth in data generated from various sources. Such data need to be protected and controlled, which pushes data resiliency solutions to develop. In addition, the adoption of cloud-based data backup and recovery solutions is growing suddenly due to its varied versatility, scalability, and protection features, which contribute significantly to the growth of the data resilience industry. Cloud storage management incorporates on-line backup services and disaster recovery planning. Furthermore, companies emphasize the adoption of operational excellence and solutions for managing the data quality. Enterprises are facing privacy issues and there is a growing need for data protection, due to which the implementation of data resilience solutions is growing tremendously. And all of these factors are anticipated during the forecast period to drive the data resilience market.

Segmentation:

Based on the component, the data resiliency market growth is divided into solutions and services. The solutions are further segmented into data archiving & e-discovery, data backup & recovery, disaster recovery and the services are further bifurcated into professional services and managed services.

By deployment, the market is divided into on-cloud, and on-premise, hybrid.

By the organization size, the market is bifurcated into small, medium-sized enterprises and large enterprises.

By vertical, the market is segmented into IT & telecommunication, banking and financial services and insurances, media and entertainment, government, healthcare, and others (education, transportation, logistics, law firms, hospitality).

Regional Analysis

Asia-Pacific is expected to show a higher growth rate in the data resiliency market due to the growing businesses adopting data protection strategies to protect their business processes from escalating cyber-attacks such as ransomware. Because of the existence of sensitive consumer data such as account information, transaction history, account passwords, credit, and debit card information, banking and financial services primarily follow data resiliency approaches. If these data are compromised, companies may have trouble returning on the market. Consequently, effective disaster management tools are required to combat data-related threats. MRFR predicts that this region is expected to see higher growth in the data resiliency market.

Also Read: www.marketwatch.com/story/data-resiliency-market-driven-by-the-growing-need-for-data-security-data-resiliency-market-research-study-size-share-growth-trends-and-key-players-2020-04-15 /