According to a research report "Data Protection Market by Component (Solutions and Services (Professional Services and Managed Services)), Deployment Mode (On-premises and Cloud), Organization Size (Large Enterprises and SMEs), Industry Vertical, and Region - Global Forecast to 2022" published by MarketsandMarkets, The data protection market is expected to grow from USD 57.22 Billion in 2017 to USD 119.95 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 16.0%. The major forces driving the data protection market include growth of enormous amounts of data and the need for data security and privacy concerns, regulations to increase the adoption of data protection solutions, and rising concerns of critical data loss in the on-premises environment.
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The objective of the
report is to define, describe, and forecast the data protection market by
component (solutions and services), deployment mode, organization size,
industry vertical, and region. The report analyzes the opportunities in the
market for stakeholders by identifying the high-growth segments of the market.
Furthermore, the report profiles the key players of the market and
comprehensively analyzes their core competencies, such as new product launches;
acquisitions; and partnerships, agreements, and collaborations. Moreover, the
report also covers detailed information regarding the major factors influencing
the growth of the market (drivers, restraints, opportunities, and challenges).
The research methodology used to
estimate and forecast the data protection market begins with capturing data
from various industry associations and consortiums, such as European Privacy
Association (EPA), German Association for Data Protection and Data Security
(GDD), Data Protection Association (DPA), RSA Security, SANS Institute, SC
Magazine, and other sources, including company financials, journals, press
releases, paid databases, and annual reports. The bottom-up procedure was
employed to arrive at the overall market size from the revenue of the key
players in the market. After arriving at the overall market size, the total
market was split into several segments and subsegments, which were then
verified through primary research by conducting extensive interviews with key
people, such as Chief Executive Officers (CEOs), Vice Presidents (VPs),
directors, executives, and cybersecurity technologists. The data triangulation
and market breakdown procedures were employed to complete the overall market
engineering process and to arrive at the exact statistics for all segments and
subsegments.
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North
America is expected to contribute to the largest market share in the data
protection market during the forecast period
North
America is expected to have the largest market share and dominate the data
protection market from 2017 to 2022, due to the presence of major security
vendors, data protection vendors, and Managed Security Service Providers
(MSSPs). The organizations in this region are increasingly adopting advanced
data protection solutions to protect their critical IT assets. The other
drivers for the increasing demand for data protection solutions and services
include the need for regulatory compliance and the need for data security and
privacy concerns.
The
major data protection vendors include IBM (US), Symantec (US), CA Technologies
(US), Oracle (US), McAfee (US), Hewlett Packard (US), NetApp (US), Quest
Software (US), Veeam Software (US), and Acronis (Switzerland).
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