Data resilience is associated with the disaster management of data centres. Data centres are the most important part of any business due to the presence of essential and critical data required for the smooth functioning of business operations. Data resiliency plays a vital role in every business as it protects the data from being compromised also helps to recover the data if any disruption in the data centre occurs, which helps in business continuity.
The recent trend in data resiliency is the use of hybrid clouds for better resiliency of services. Hybrid clouds make enterprises flexible and fast, cost-effective, and efficient. Moreover, due to cost effectiveness, small and medium-sized enterprises and large enterprises are using hybrid cloud for data resiliency. However, the cost of hybrid cloud is still more than cloud-based data resiliency which is expected to hinder the growth of hybrid cloud solutions.
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Major Key players
- CommVault (US),
- Veritas Technologies (US),
- IBM (US),
- Actifio (US),
- HPE (US),
- Veeam Software (Switzerland),
- Acronis (Switzerland),
- Asigra (Canada),
- Carbonite (US),
- Quest Software (US),
- Microsoft (US),
- Century Link (US),
- NetApp (US),
- Unitrend (US),
- VMware (US).
According to MRFR, Global Data Resiliency Market is expected to generate a market value of USD 21 billion by 2023 growing at a 15% CAGR during the forecast period 2018–2023.
Data resiliency market study aims at different segments on the basis of component, deployment, organization size, vertical, and region.
By component, the market is segmented into solutions and services. The solutions are further segmented into data backup & recovery, data archiving & e-discovery, disaster recovery and the services are further segmented into professional services and managed services
By deployment, the market is segmented into on-cloud, and on-premise, hybrid.
By organization size, the market is segmented into small medium-sized enterprise and large enterprise.
By vertical, the market is segmented into banking and financial services and insurances, IT & telecommunication, government, healthcare, media and entertainment and others (education, transportation, logistics, law firms, hospitality).
The global market for data resiliency is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of data resiliency market is studied for North America, Europe, Asia-Pacific, and the rest of the world.
North America is expected to dominate the data resiliency market due to early adoption of data resiliency solutions and presence of major key players such as IBM, CommVault, Veritas Technologies, which provide disaster management and business continuity solutions for the various large enterprises in this region. Moreover, North America is among the first adopters of hybrid-based deployment model for data resiliency which is less expensive than on-premise and provides faster and efficient recovery time, disaster management and business continuity. Therefore, North America is expected to show growth in hybrid cloud-based data resiliency solutions which further drives the growth of data resiliency market in the North-American region.
Asia-Pacific is expected to show higher growth rate in data resiliency market due to increasing adoption of data resiliency solutions by the enterprises to prevent their business operations from increasing cyber-attacks such as ransomware. Mainly banking and financial services are adopting data resiliency solutions due to the presence of critical customer data such as account details, transaction history, account passwords, credit and debit card details. If such data is compromised, it can be difficult for organizations to recover in the market. Therefore, proper disaster management solutions are required to countermeasure data related threats. MRFR predicts that data resiliency market is expected to show a higher growth in this region.
Europe is expected to show growth in the adoption of cloud-based data resiliency solutions as cyber-attacks are increasing in the region. Cloud-based data resilience solutions are cost-effective and efficient which further impacts its adoption in this region. Europe is mainly investing in data resiliency for banking and financial sector as the European Central Bank (ECB) has issued specific set of rules and regulations for ensuring a high level of data resiliency and protection from cyber-attacks, which is expected to drive the growth of market in this region.
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- Data Resiliency solution provider
- Data Backup and Recovery Provider
- Disaster Recovery Providers
- IT Infrastructure Managers
- Data Centre Service Providers
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