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.
Data resiliency makes sure of the continuous availability of business applications and data, even during adverse events such as server overload, cyberattacks, and power outage. Data resiliency is achieved in many ways. These ways include logical replication hardware replication, as well as storage of data in several locations. If the data from any location is compromised via any cyberattack, power outage, equipment failure, or is corrupted, the user can access data from other locations which will ensure uninterrupted business operations. The global data resiliency market is projected to expand at 15% CAGR over the forecast period.
Also Read: http://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
Some noteworthy players present in the data resiliency market include 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).
Detailed Regional Analysis
The global data resiliency market is segmented into the regions of North America, Europe, Asia-Pacific, and the rest of the world. North America is expected to dictate the global data resiliency market owing to the presence of major data resiliency solution providers in the region. Further, owing to the massive investments in research and development of data resiliency solutions is also fueling the regional market growth.
Asia Pacific is assessed to exhibit the highest CAGR over the forecast period. This can be owed to the increasing implementation of data resiliency solutions in several end-user industries residing in the region. Further, increasing cyberattacks have created a rising need for data backup, in turn, fostering the data resiliency market growth over the conjecture period. Primarily banking and financial services are adopting data resiliency solutions owing to the presence of critical consumer data such as transaction history, account details, account passwords, debit & credit card details. If such data is compromised, it can be difficult for organizations to recover losses in the market. Therefore, proper disaster management solutions are necessary for countermeasure data theft and other data-related threats. Such need is propelling the growth of data resiliency solutions in the regional market.
Data resiliency industry 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).
August 2019: Druva is the first SaaS-based data protection and management solution that is certified for both VMware Cloud on Amazon Web Services and also available on VMWare Cloud Marketplace.