Sales Revenue Of Data Protection Software Market To Substantially Increase During Forecast Period Owing To Rapid Adoption Across Key Industries : Fact.MR

The data protection software market continues to observe bullish prospects, with a revenue increase estimated at over US$ 750 Mn in 2018 over 2017, according to a recent Fact.MR study. The report envisages solutions to remain sought-after in the data protection and software market, while revenues from services are foreseen to outpace those from solutions through 2028.

The global data protection software market is estimated at USD 1,195 Million in 2022 and is projected to reach USD 18,500 Million by 2032, growing at an exciting CAGR of 31.5% during 2022-2032.

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Fact.MR estimates that global data protection software market accounts around ~1% of global data protection market comprehended by high demand for compilation and privacy ensuring data software growing at an unprecedented rate on global level. Continuous business escalations, data lifecycle managements, online and offline data management and demand of continuous data protection backup software (CDP) is anticipated to multiply the present data protection market valuation by 23X in upcoming decade.

Data protection software developments that occurred in a consistent manner over the past half-decade led to expansion of its market on global level. This expansion then resulted in continuous software differentiation along with new features that derived its demand among data uploaders on the platform.

Competition landscape: Top Companies of Data Protection Software Market

Market players in data protection software business have mainly opted for growth oriented strategies which includes implementation rate of data privacy technologies. In addition, collaborations, mergers, digital promotion and continuous technical advancements in the aforementioned software hits the top position in their priority list. These strategies are helping the global players to expand their regional footprint and garner maximum market share by providing highly secured system.

Fact.MR has provided detailed information about price points of top service providers of data protection software positioned across regions, implementation growth, and speculative technological growth in the recently published report.

• Commvault, a global leader in data protection software market launched metallic SaaS-based data protection software in 2020 for Enterprise-ready data management systems in European region for core-backup and recovery features.
• In 2019 beginning, IBM Corporation acquired REDHAT, an Open Source software provider for around USD 33 Billion with an aim to expertise in cloud computing.

Similar, recent developments related to companies offering in data protection software have been tracked by the team at Fact.MR, which are available in the full report.

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Global Data Protection Software Market Key Segments

• By Solution Type :

  • Data Backup & Recovery
  • Disaster Recovery
  • Data Security
  • Data Compliance

• By Deployment Type :

  • Cloud
  •  On-Premises

• By Enterprise Size :

  • SMBs
  • Large Enterprises

• By End-Use Industry :

  • IT & Telecom
  • Healthcare
  • BFSI
  • Retail Business
  • Manufacturing Business
  • Education
  • Other

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Cloud-based deployment of data protection software is estimated to speed up, to account for nearly-equal revenue share of the data protection software market as that of on-premise deployment, despite latter’s supremacy. Cloud-based deployment of the data protection software, as the technology aids in ensuring data protection practices compliant with regulations. However, security issues continue to prevail in case of cloud-based data protection software deployments, which in turn underpins the preeminence of on-premise deployment.

Key vendors in the data protection software market are focusing on global expansion, by installing new facilities or entering into partnership with software distributors or vendors. The primary objective behind such expansion strategies is to strengthen their support services associated with advanced data security solutions. Leading data protection software market vendors are also concentrating on application-specific advanced data protection suite offerings, to prevent data theft and data loss, thereby gaining customer loyalty and enhancing their business profiles.

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