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Data Theft Risks During Coronavirus Fuel Demand for Data Erasure Solutions

Due to the increasing rates of identity threats during the COVID-19 pandemic, data erasure tools have witnessed high demand. Stellar is in talks for its data recovery-proof erasure variants, BitRaser, which helps to erase personal information of users while disposing of storage devices. Such trends are translating into revenue opportunities for companies in the data erasure solutions market.

Companies in the data erasure solutions market are increasing the availability of tools fully eradicate data from storage devices, whilst effectively preventing end-of-use privacy breaches. They are developing software that prevents restoration of information from storage devices, since the rates of identify threats have shot up dramatically amid the ongoing coronavirus pandemic. Software companies are targeting highly regulated industries, since they are more conscious about data theft.

data erasure solutions market segmentation

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Tamper-proof Certificates for Data Sanitization Methods Help in Effective Data Purging

The data erasure solutions market is expected to advance at an explosive CAGR of ~29% during the forecast period. However, correctly purging the data that resides in the deep recesses of the inventory one wishes to sell can be challenging. Hence, companies in the data erasure solutions market such as Ontrack is gaining recognition for offering software that confirms the total number of overwriting passes that are performed and verified by the erasure software.

Software developers are creating solutions that allow double-checking of the data being erased. Users are gaining awareness about auditable and tamper-proof certificates that ensure the data sanitization methods are effective.

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GDPR Guidelines in India Leverage Remote Data Erasure Capabilities

The data erasure solutions market is estimated to cross a valuation of US$ 21.4 Bn by 2030. Companies are making sure that corporate data of an organization is unreadable by cyber criminals. Thus, companies in India are adhering to the General Data Protection Regulation (GDPR) guidelines to ensure data protection and digital privacy. Corporate companies are participating in webinars that create awareness about end-of-life data, minimize data leaks, and make corporate data unreadable.

Software-based data destruction is creating incremental opportunities for companies in the data erasure solutions market. Blancco - a provider of certified, secure data erasure software for a range of IT assets, is gaining popularity for offering remote data erasure capabilities. Careful auditing of data destruction ensures that the data has been effectively sanitized with no scope for error.

Self-encrypting Drives with ISE Making Drive Retirement Processes Safe

Self-encrypting drives are a breakthrough innovation in the data erasure solutions market. Seagate’s secure self-encrypting drives (SED) are being highly publicized for its ability to very quickly erase all the data on the device. Software and hardware companies are taking cues from such innovations to enable instant secure erase (ISE) of data.

Drive retirement methods are faced with drawbacks such as long time to complete, manual operation, and high IT retirement costs. The instant secure erase holds promising potentials for companies in the data erasure solutions market to address time, cost, and security concerns. ISE is in talks for making the drive retirement process safer, faster, and easier for any size of the IT dept.

In-house Hard Drive Erasure Helps Minimize Physical Destruction of Hard Drives

Onsite data destruction is a fast growing phenomenon in the data erasure solutions market. TES-AMM - a provider of data erasure and computer reuse solutions, has established a team of expert technicians who arrive onsite and run through regimented operating procedures for data erasure. As such, it is estimated that software solutions will dictate a higher revenue share as compared to services in the data erasure solutions market during the forecast period.

Companies are developing software that are Asset Disposal and Information Security Alliance (ADISA) accredited. In-house hard drive erasure helps to minimize the waste resulting from physical destruction of hard drives. Companies are increasing efforts to offer comprehensive reports about data erasure.

data erasure solutions market infographic

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Analysts’ Viewpoint

Remote data erasure solutions are gaining increased popularity during the COVID-19 outbreak and hold future business prospects for stakeholders in the market. Companies are developing software that overwrite all possible storage locations, including hidden areas. However, it has been found that in many cases, overwriting drive data software can be potentially expensive and ties up valuable system resources for days. Hence, companies in the data erasure solutions market should innovate in secure self-encrypting drives that effectively address cost, time, and security concerns with the help of instant secure erase attributes. Onsite data erasure services are eliminating the need to physically destruct drives.

Data Erasure Solutions Market: Overview

  • The latest research report published by Transparency Market Research pertains to the global data erasure solutions market for the historical period 20182019 and the forecast period 20202030. Data erasure/data wiping or data clearing is a software-based method of overwriting the data that targets to completely destroy all electronic data that exists in a hard disk drive or other digital media. It is a process in which data is completely erased by using multiple zeros and ones to overwrite data onto all parts of the device to prevent the risk of sensitive data leakage. This, in turn, is anticipated to propel the data erasure solutions market during the forecast period.
  • In terms of revenue, the global data erasure solutions market is estimated to exceed the value of US$ 21.4 Bn by 2030, expanding at a CAGR of ~29% during the forecast period

Increase in Hacking Activities and Cyber Threats: A Key Driver of Data Erasure Solutions Market

  • In the current scenario, cyber-attacks and hacking are increasing at a high pace across the globe. The number of cyber-attacks is the highest in the U.S., China, and Russia.
  • End users are looking for data erasure solutions and technologies due to these cyber-attacks, which can save the data and prevent the misuse of data. Data erasure solutions ensure protection of sensitive data in case the devices are lost. The software remotely destroys the data, if the password is incorrectly entered, or in case the device is being used by an unauthorized person.
  • Therefore, increased cyber-attacks and hacking is a crucial factor driving the demand for data erasure solutions. On the other hand, there is a growing demand to prevent data loss from old assets and devices. This is also expected to fuel the data erasure solutions market during the forecast period.
  • The threat of data loss has multiple repercussions. Devices that have not been wiped could include data such as valuable trade secrets or IP, and the loss of personally identifiable information could put consumers, customers, or staff at risk of identity theft.
  • Data breaches can be costly in terms of the expense to remedy, as well as the damage to an organization's reputation. At present, data breaches are a major risk to organizations. Many big and small industries use large volume of digital data in many of their applications. In order to prevent data breaches, the demand for data erasure solutions is expected to increase during the forecast period.

Adoption of Environment-friendly Technologies

  • Software data destruction is one of the most effective means of eliminating sensitive data from a disc, while maintaining the functionality of the disc for re-use or resale. Data erasure solutions are preferred over physical destruction such as shredding or degaussing. This is a process in which each drive sector of the disc is overwritten with meaningless data, whereas physical hard drive destruction refers to disc shredding. Physical destruction obstructs the opportunity for revenue gain through secondary market resale, and it also comes with certain environmental risks and leads to potential violations of EPA regulations. Data erasure solutions are cost effective, environment-friendly, energy efficient, and securely erases confidential data without destroying the drive; thus, many organizations are adopting data erasure solutions.

Data Erasure Solutions Market: Competition Landscape

  • Detailed profiles of providers of data erasure solutions have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
  • Key players operating in the global data erasure solutions market are
    • Arrow Electronics, Inc.
    • Blancco Technology Group
    • Certus Software Ltd.
    • CHG-Meridian, Dell, Inc.
    • Extreme Protocol Solutions
    • Hewlett Packard Enterprise Development LP
    • IBM Corporation
    • Ingram Micro ITAD
    • Iron Mountain Incorporated
    • ITRenew Inc.
    • Kroll Ontrack, LLC
    • LifeSpan International Inc.
    • MTI Technology Limited
    • Sims Recycling Solutions, Inc.
    • Stellar Information Technology Pvt. Ltd.
    • TES (Singapore) Pte Ltd.
    • WhiteCanyon Software Inc.
    • WipeOS LLC

Data Erasure Solutions Market: Key Developments

  • Key providers of data erasure solutions, such as Stellar Information Technology Pvt. Ltd., Kroll Ontrack, LLC, Blancco Technology Group, IBM Corporation, and Certus Software Ltd. are focusing on the development of cost-effective data erasure solutions to attract more customers. Additionally, players active in providing data erasure solutions are focusing on inorganic growth strategies, such as strategic collaborations and mergers and acquisitions with technology partners to improve their offerings and market reach in the data erasure solutions market.
  • Some other key developments in the global data erasure solutions market are highlighted below:
    • In September 2020, Stellar Information Technology Pvt. Ltd. launched BitRaser, a data erasure and diagnostic tool to permanently erase all data from storage devices to secure data privacy at the end of the device lifecycle
    • In September 2019, Technology Integration Group (TIG), Data Agility Group (DAG), DMI, Computer Professionals International (CPI), Network Solutions Provider (NSP), and Blancco entered a secured new channel partnership agreement to deliver secure erasure services across various verticals and across the globe
    • In July 2019, Certus Software Ltd. successfully received the certification of The Asset Disposal and Information Security Alliance (ADISA). ADISA is the industry’s most trusted accreditation scheme for data disposal products.
  • In the global data erasure solutions market report, we have discussed individual strategies, followed by company profiles of providers of data erasure solutions. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global data erasure solutions market.

Data Erasure Solutions Market – Scope of the Report

A latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global data erasure solutions market, to accurately gauge its potential future development. The study presents detailed information about the important growth factors, restraints, and key trends that are creating the landscape for the future growth of the data erasure solutions market, to identify the opportunistic avenues of the business potential for stakeholders. The report also provides insightful information about how the data erasure solutions market is expected to progress during the forecast period, 2020-2030.

The report offers intricate dynamics about the different aspects of the data erasure solutions market that aids companies operating in the market in making strategic development decisions. TMR’s study elaborates on the significant changes that are highly anticipated to configure the growth of the data erasure solutions market during the forecast period. It also includes a key indicator assessment to highlight the growth prospects of the data erasure solutions market, and estimates statistics related to the market progress in terms of value (US$ Mn).

The study covers a detailed segmentation of the data erasure solutions market, along with country analysis, key information, and a competitive outlook. The report mentions the company profiles of key players that are currently dominating the data erasure solutions market, wherein various developments, expansions, and winning strategies practiced and executed by leading players have been presented in detail.

Key Questions Answered in TMR’s Report on Data Erasure Solutions Market

The report provides detailed information about the data erasure solutions market on the basis of comprehensive research on various factors that play a key role in accelerating the growth potential of the market. Information mentioned in the report answers path-breaking questions for companies that are currently functioning in the market and are looking for innovative ways to create a unique benchmark in the data erasure solutions market, so as to help them make successful strategies and take target-driven decisions.

  • Which regions will continue to remain the most profitable regional markets for data erasure solutions market players?
  • Which factors will induce a change in demand for data erasure solutions during the assessment period?
  • How will changing trends impact the data erasure solutions market?
  • How will COVID-19 impact the data erasure solutions market?
  • How can market players capture low-hanging opportunities in the data erasure solutions market in developed regions?
  • Which companies are leading the data erasure solutions market?
  • What are the winning strategies of stakeholders in the data erasure solutions market to upscale their position in this landscape?
  • What will be the Y-o-Y growth of the data erasure solutions market between 2020 and 2030?
  • What are the winning imperatives of market frontrunners in the data erasure solutions market?

Research Methodology – Data Erasure Solutions Market

The research methodology adopted by analysts to compile the data erasure solutions market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the industry-affiliated information that is obtained and legitimated by market-admissible sources, analysts have offered riveting observations and authentic forecasts of the data erasure solutions market.

During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of data obtained through the interviews of genuine sources, analysts have emphasized the changing scenario of the data erasure solutions market.

For secondary research, analysts scrutinized numerous annual report publications, white papers, industry association publications, and company websites to obtain the necessary understanding of the data erasure solutions market.

Data Erasure Solutions Market – Segmentation

TMR’s research study assesses the data erasure solutions market on the basis of component, deployment, device type, industry, and region. The report presents extensive market dynamics and progressive trends associated with different segments, and how they influence the growth prospects of the data erasure solutions market.

Component
  • Software
  • Services
    • Professional
      • Consulting, Integration & Maintenance
      • Verification
      • Certification
      • Erasure
    • Managed
Deployment
  • Cloud
  • On-premise
Device Type
  • PCs
  • Laptops
  • Servers
  • Data Center Equipment
  • Mobile Devices
  • Others
Industry
  • BFSI
  • Education
  • Healthcare
  • Government
  • Media & Entertainment
  • Energy
  • IT & Telecom
  • Others
Region
  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

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