Data Resiliency Market: Current Analysis and Forecast (2021-2027)

Data Resiliency Market: Current Analysis and Forecast (2021-2027)

The data resiliency market is predicted to grow at a CAGR of around 17% during the forecast period. Key factors influencing the growth of the data resiliency market are the increasing adoption of cloud-based data backup and recovery solutions, increasing data safety concerns, and high growth in data generated throughout the years from various sources. For instance, it is expected that the world would generate over 180 zettabytes of data in 2025 while total data generated stood at around 64 zettabytes in 2020. All this data needs to be stored, processed, and secured with appropriate measures. A strong data resiliency strategy largely reduces the vulnerability of enterprise data, reducing the risk of critical data loss and minimizing the impact of downtime, outages, data breaches, and natural disasters. Thus, creating opportunities for the key market players in the data resiliency market.

Insights Presented in the Report
"Amongst type, solutions category held prominent market share in 2020”

Based on type, the market is segmented into solutions and services. In 2020, the solutions segment accounted for a significant share of the global data resiliency market. The growth of this segment is accounted to the increasing need for data backup and disaster recovery solutions. Data backup is the process of creating a copy of original data on a system or different location that is used in the case when original data is lost or corrupted. Data archiving is another important part of data resiliency solutions segment, data resiliency refers to the practice of identifying data no longer active or moving it out of the production systems into the long-term storage systems. Data is archived so that at any time it can be brought back into service. Data archiving is essential for businesses and organizations that acquire new data regularly yet must retain the currently stored data and remain able to quickly retrieve both types.
"Amongst deployment, On-premises category held prominent market share in 2020”

On the basis of deployment, the market is categorized into on-premises and cloud. Among these, on-premises held a prominent share in the revenue of the overall data resiliency market in 2020 and is expected to witness strong growth during the forecast period. Flexibility, data security, high speed, and low latency are the most prominent factors driving the growth of this segment. The on-premises deployment provides physical control to the enterprises over the data, it keeps access to critical data limited to the enterprises only. Moreover, enterprises do not have to rely on the internet to access any data from their database. However, the cloud deployment segment is expected to witness prominent growth during the forecast period, due to the low-cost, scalability, and increasing data security in cloud platforms. Furthermore, most enterprises are looking for a transition toward cloud services, providing opportunities to major cloud deployment data resiliency market players.
"APAC to showcase robust growth during the forecast period”

The APAC is projected to grow at a substantial rate during the forecast period. This can be attributed to the rise in cyber-attacks and ransomware attacks in this region. This has fueled the data resiliency market, positively influencing the data resiliency market in the region. In the APAC region, small and large enterprises use data resiliency to achieve business continuity in the event of data loss and failures. Moreover, the APAC region is one of the largest hubs for IT-BPM service and they need data resiliency most because the IT and software industry work with a lot of data. Furthermore, the banking and financial services industry is developing significantly, banks, in particular, have strengthened their balance sheets, making them more resilient to external shocks. According to the Asian Development Bank, the region’s middle-income economies have also made progress in developing the core of their domestic capital markets and non-banking sectors. The banking sector uses data resiliency to protect its critical data in order to get an uninterrupted business continuity.

Some of the major players operating in the market include Acronis International GmbH, Microsoft Corporation, Asigra Inc., International Business Machines Corporation, NetApp Inc., VMware Inc., Veritas Technologies LLC., Carbonite Inc., Hewlett Packard Enterprise, and Veeam Software AG among others.

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