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Data Protection and Recovery Software Market to Register a Stout Growth by 2026
Many industries such as healthcare, and retail are moving towards the adoption of data protection and security solutions to protect their digital assets against cyber-crime
Data protection and recovery software provides data backup, integrity and security for data backups and it enables timely, reliable and secure backup of data from a host device to destination device. Recently, Data Protection and Recovery Software market is disrupted by innovative technologies such as server virtualization, disk-based backup, and cloud services where emerging players are playing important role. Tier one players such as IBM, Hewlett Packard Enterprise, EMC Corporation, Symantec Corporation and Microsoft Corporation are also moving towards these technologies through partnerships and acquisitions.
Data Protection and Recovery Software Market: Drivers and Challenges
The major factor driving data protection and recovery software market is the high adoption of cloud based services and technologies. Many organizations are moving towards cloud to reduce their operational expenses and to provide real time access to their employees. However, increased usage of cloud, has increased the risk of data loss and data theft and unauthorized access to confidential information, which increases the demand for data protection and recovery solution suites.
The restraint for data protection and recovery software market has always been the lesser availability of cost effective software suites in the market due to which many organizations unable to implement these data protection solutions. Moreover, rapid growth of data, costly compliances, management of redundant hardware and software in multiple locations, and data corruption are some other challenges that organizations are facing while adopting these data protection and recovery suites.
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In February 2016, HPE has acquired Trilead, a data protection software developer to improve HPE offerings for backup solutions. This acquisition will help HPE to enhance its offerings for cloud back-up, file storage, and data encryption.
In January 2016, Carbonite, a cloud service provider has acquired EVault, a data backup and recovery solution provider. This acquisition will help Carbonite to provide data protection and disaster recovery solutions to its small and medium business clients which are using Carbonite’s cloud based services.
In August 2016, CommVault has entered into the partnership with Huawei for creating a joint lab to develop data backup, recovery and cloud solutions. This partnership will help both companies in creating an integrated offering with bundled service agreements.
In September 2016, Orixcom, one of the managed IT service provider has entered into the partnership with Arcserve, an UAE based cloud platform provider to benefit customers of both the companies by offering integrated data protection solutions to protect hybrid cloud. The companies will provide solutions such as disaster recovery as a service and data protection as a service for customers.
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