The data resiliency market is likely to witness substantial growth over the forecast period from 2021 to 2031. The robust growth of the data resiliency market is expected due to the massive demand for data recovery services. The growing data destructive events are likely to open new avenues for the growth of the data resiliency market. The rising need for the safety of data and IT infrastructure may propel the growth of the data resiliency market.
Key parameters on which the data resiliency market is analyzed are the solution, service, size, deployment type, and region. By component, the data resiliency market is categorized into solutions which include disaster recovery, data archiving and e-recovery, data backup, and recovery. Further, the services include support and maintenance services, consulting services, implementation and integration services, and managed services. The verticals of the data resiliency market consist of media and entertainment, public sector, healthcare, retail and consumer goods, IT and Telecommunication, and others.
The report on the data resiliency market is crucial for deep insights into the data resiliency market for the 2021-2031 forecast period. The report covers recent, developments, competitive landscape, current trends, and regional outlook of the market. The team conducts an exhaustive analysis of the data resiliency market at TMR. The impact of COVID-19 on the growth of the data resiliency market, in particular, is covered in this report.
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The data resiliency market is mainly consolidated, mainly comprising software and service companies. The key players are concentrating on raising the standards of their products and adopting innovative and updated methods to create technologically advanced products and services. The market players are focused on collaborations with startups, mergers, and acquisitions to strengthen their market reach. Novel product launches and exhaustive research and development activities initiated by key players may create multiple growth opportunities for the data resiliency market.
There are few well-entrenched players in the data resiliency market, Micro Focus, Acronis, Inc., Dell Technologies, Inc., Microsoft Corporation, Veeam Software, Micro Focus, and Commvault.
The rising cases of data loss due to cyber-attacks, data theft, disaster, or human error that impacts the growth of organizations is indirectly fueling the growth of the data resiliency market. Data is the most valuable asset for any organization, and the loss of this precious data may ruin the entire business and its operations. The dire need to restore the essential data that may be lost due to data theft, human error, or cyber hacking may expedite the growth of the data resiliency market.
On the flip side, lack of awareness and budget constraints mainly limit small companies' use of data resiliency tools. They continue to employ manual data restoring methodologies, thus impeding the data resiliency market. The cloud-first approach and cloud-native services have proved to be a cost-effective solution for organizations to access all backups and accelerate the process of data recovery. These aspects are likely to boost the growth of the data resiliency market. The data resilience market will continue to increase due to cloud-based resilience, a hassle-free method of achieving organizational resilience at scale.
The COVID-19 pandemic has brought a revolutionary change in the working of various organizations. Owing infections, the work from home culture, and the need for online tools to support the online working strategies have developed an appetite for centralized data backup which may prove to be a growth booster for the data resiliency market.
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North America is expected to command the data resiliency market, mainly because of the wide use of data resiliency tools by multiregional industries region. The development of various approaches in data resiliency by well-known technology companies is also fueling the data resiliency market in the area. All these aspects may bring enormous growth to the global data resiliency market.
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