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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Key target audience of the data protection
market report is given below:
·
Regulatory bodies
·
Security solution vendors
·
Data protection vendors
·
ISVs
·
Information security
consulting firms
·
IT service providers
·
VARs
·
Managed Security Service
Providers (MSSPs)
IAM is estimated to have the largest market
share in the data protection market in 2017
Identity and Access
Management (IAM) segment is estimated to have the largest market share in 2017
and is expected to dominate the data protection market from 2017 to 2022. The
IAM solution comprises provisioning, advanced authentication, directory
technologies, password management, audit, and Single Sign-On (SSO). The IAM
solution is gaining traction in the data protection market due to its features,
such as centralized nature and cost-effectiveness.
The healthcare industry vertical is expected
to grow at the highest CAGR in the data protection market during the forecast
period
The healthcare industry vertical is
expected to grow at the highest CAGR during the forecast period. Cybercriminals
have turned their interest toward the healthcare industry vertical, as it holds
patient’s critical medical information. Therefore, there has been a strong
adoption of advanced data protection solutions in the healtcare industry
vertical in the recent years.
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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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