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Data Protection Software Market

Data Protection Software Market

Data Protection Software Market Analysis by Solution Type (Data Backup & Recovery, Disaster Recovery, Data Security, Data Compliance), by Deployment Type (Cloud, On-Premises), by Enterprise Size, By End-Use Industry & Regional Forecast 2022-2032

Data Protection Software Market
FACT1326MR
  • Jan-2022
  • List of Tables : 70
  • List of Figures : 70
  • 170 Pages
  • Technology

Global Data Protection Software Market Snapshot

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.

Report Attributes

Details

Market size value in 2021A

USD 1,130 Million

Market estimated value in 2022E

USD 1,195 Million

Market forecast value in 2032F

USD 18,500 Million

Global Growth Rate (2022-2032)

CAGR 31.5%

North America Market Size in 2022

USD 382 Million

North America Growth Rate (2022-2032)

CAGR 37.8%

Top 5 Companies Market Share in 2022

~42%

Key Companies Profiled

  • Commvault
  • Microsoft Corporation
  • IBM Corporation
  • NetApp, Inc.
  • Veeam Software
  • Veritas Technologies
  • Dell EMC
  • Cloudian, Inc.
  • Hewlett Packard Enterprise (HPE)
  • Check Point Software Technologies

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.

Along with continuous integrations of business continuity/disaster recovery feature, automation in movement of critical data, safeguarding from malware, cyber and other virus attacks grabbed the maximum customer base. Moreover, the availability of a pool of features in data protection software such as storage snapshots, cloud backup, disaster recovery and data management tools boosted the implementation rate of this technology across the globe.

Leading players in data protection software market collaborated with various vendors available in this hub. This escalated the demand for business adaptable data protection software on global level along with accelerated implementation rate of tap-based backup feature which is highly secured against frequent cyber-attacks. Aforementioned collaborative approach is set to provide a gain of 840 BPS to data backup and recovery sub-segment in this market during the forecast period of 2022-2032.

In accordance to technology implementation of data protection software, out of the prominent end use industries for data protection software (Retail Business, Manufacturing Business, IT & Telecom, Education, Healthcare, BFSI & Others), data protection software in BFSI (Banking & Financial Services Intelligence) is set to secure maximum market share ~35% by 2032 end.

Runtime environments for a large number of small to large scale businesses require some specific management tool to manage and secure their data. Therefore, data protection software companies give a pool of programmed libraries which provides additional features such as data security, data analytics, data abstraction and data management in a reformed manner.

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Report Scope

Data protection software platform research performed by Fact.MR delves on key insights such as current and speculative market approach, technical facilities offered by each data protection software vendor, current and speculative implementation rate, data protection strategy across various running business, and techno-economic analysis by considering overall scenario of global data protection market, global data analytics industry, global cyber security market, global data security and data abstraction market, global cloud support industry, global data protection software components market and many more.

Historical Analysis Vs. Future Projections for Data Protection Software Market

According to Fact.MR, growth rate for data protection software market was noted about 28.6% during past decade. Considering technicalities related to this service market, features of data protection software offered in historical period included only data security along with non-scalable cloud support. Whereas, with continuous upgradation accompanied by data protection software providers, they started including secure & accurate encoded program, scalable cloud support, data backup, data recovery, data security along with compliance to various businesses running across the globe. Aforementioned improvements in this technology multiplied the market valuation from 2017 to 2022 by factor of 14X.

In the past half-decade, the demand of storage technologies for data protection through backup taps and discs was a strong market option. Whereas, with continuous technical advancements in this field, tap-based data backup which was a slow process eventually depreciated on global level and demand for virtual data protecting software got a boost.

The evolutions and potency in data security risks are inducing a shift towards convergence of universal solutions. Increasing realization among data protection software vendors and end-users about the fact that traditional security apparatus involving silo solutions for specific threats is incompetent to address new-age cyber threats proves why continuous improvements are an indispensable part of this technology.

Accounted to the forecast analysis, businesses seeking ways for proactively combating cyber-threats along with challenges prevail pertaining to the availability of data protection software is poised to include ransomware prevention features within upcoming half-decade. Moreover, ransomware protection is anticipated to gain significant emphasis as an imperative feature in data security solutions, with uptake of acquisitions & mergers between data protection and data security providers, thus proving this market an exciting growth rate of 31.5% during the forecast period.

An Adaptive Approach to Modern-day Research Needs

Region-wise Analysis

How data protection software market in US poised to provide maximum revenue-generating opportunities?

Data management and security have been a key requirement for various businesses, educational institutes, banking sectors and telecommunication facilities running across major regions. Out of those, North America is expected to generate USD 382 Million, i.e. ~32% of global data protection software market by 2022 end.

U.S. being the biggest consumer of data management technologies over past half-decade is expected to carry forward similar trend for next 10 years. The increasing awareness regarding data privacy and management among U.S. business organisations acts as a market driver. In addition, stringent laws implemented on data protection as per California Consumer Privacy Act swelled up demand of such software. Data protection software market in US is anticipated to multiply by 27X by 2032 end and is poised to gain 1150 BPS during the forecast period.

Data proetction software market forecast by Fact.MR

Category-wise Analysis

How Data Protection Software in BFSI Anticipate to Grab Maximum Share in Market?

Analysing the present trend for this market helps to comprehend why banking & financial services organizations are looking to implement data protection software as their integrated part. Comprehending the importance of data privacy and management by a bank, the demand of such specific software that could help it in limiting the probability of hacking damage swelled up so as this segment is expected to cover ~35% of overall data protection market share by 2022 end. Therefore, most number of service contracts are expected to be established from the banking sector during next 10 years. Not only private banks, but public financial services are also showing curiosity in implementing such data protection tools.

Therefore, considering aforementioned scenario, data protection software market is projected to grow at an exciting rate of 33.6% CAGR and anticipated to gain 785 BPS from banking and financial sector in upcoming decade.

How Data Protection Software is capable of solving privacy challenges for SMBs (Small & Midsize Business)?

Considering the two foremost revenue-generating enterprises in data protection software technology (SMBS & Large Enterprise), SMBs that is small and midsize businesses running in various European and Asian countries are supposed to generate around ~65% of overall revenue from this technology implementation.

Accounting to the fact that the small and medium scaled business are always under possibility of facing business frauds. Demand of advanced data protection software likely to surpass valuation of provide absolute $ opportunity of USD 10,500 Million during the assessment period of 2022-2032.

In addition, availability of features such as faster data uploading and editing, advanced cybersecurity, and fast-track monitoring system along with user-friendly interface increases profit margins such data protection software vendors from aforementioned business groups. Data protection software market in SMBs is projected to grow with a stupendous CAGR of 35.8% during forecast period from 2022-2032.

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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.

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

- FAQs -

Global value of data protection software market in 2022 is expected to reach around USD 1,195 Million.
Global value of data protection software market in 2032 is forecast to surpass USD 18,500 Million.
Data Protection Software is expected to grow at a stupendous CAGR of around 31.5% during the forecast period of 2022-2032.
Data Protection Software in BFSI is set to grow with exciting CAGR of around 33.6% during upcoming decade.
U.S., Germany, China, and U.K. are the major countries driving the demand for data protection software market.
North America is estimated to hold around ~32% of the global data protection software technology market by 2022 end.

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