The data resiliency solutions market is projected to grow from USD 11.69 Billion in 2018 to USD 27.63 Billion by 2023, at a CAGR of 18.8% during the forecast period from 2018 to 2023. Some of the major factors driving the growth of the data resiliency solutions market include increasing data generation from various sources, growing data privacy concerns and need to ensure data security, rising adoption of operational excellence and data quality management solutions, and increasing use of cloud-based data backup and recovery solutions.
Companies such as IBM (US), Microsoft (US), VMware (US), Commvault Systems, Inc. (US), and Veeam Software (Switzerland) offer data resiliency solutions for different industries. These players have adopted various growth strategies such as expansions; agreements, collaborations, and partnerships; acquisitions; and new product launches and product enhancements to strengthen their position in the data resiliency solutions market. Agreements, collaborations, and partnerships account for more than half of the share of the total growth strategies adopted by these leading players in the data resiliency solutions market from January 2016 to March 2018.
IBM (US) offers data resiliency solutions, which allow data to remain available to applications and users even in case of system failures. IBM (US) offers solutions such as Tivoli Advanced Backup and Recovery for z/OS, IBM Spectrum Protect Suite, IBM Virtual Storage Center, and IBM Tivoli Storage Manager to meet the data backup requirements of small to very large environments, thereby managing billions of data objects per backup server. IBM (US) focuses on inorganic strategies such as partnerships and acquisitions to strengthen its position in the data resiliency solutions market. For instance, in June 2017, IBM (US) partnered with Zain (Kuwait) to launch a new cloud disaster recovery service. This partnership aims at offering IBM and Zain cloud-based business continuity capabilities to their customers for fast disaster recovery of their critical IT systems without incurring the additional infrastructure expenses required for a second physical site. In October 2017, IBM (US) partnered with Veritas (US) to enable enterprises to efficiently manage, optimize, and protect the continuously increasing data across hybrid cloud environments.
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Commvault Systems, Inc. (US) focuses on inorganic strategies such as partnerships and collaborations to grow in the data resiliency solutions market. For instance, in March 2018, Commvault (US) partnered with MEDITECH Holdings (South Africa) to expand the solution portfolio offering of MEDITECH Holdings (South Africa) across Europe and Asia by directly distributing/reselling the Commvault Data Platform within its managed service solutions. Commvault (US) offers solutions such as Data Management Platform, Data Protection – Backup and Recovery, Email Archiving, and Email and Collaboration for the data resiliency solutions market. In November 2017, Commvault (US) launched a new product, namely, Commvault Endpoint Data Protection as a Service to simplify data recovery on laptops and other devices. It eliminates the need for infrastructure installation or IT management of resources.
Data Resiliency Market by Component (Solutions (Data Backup & Recovery, Data Archiving & E-Discovery, Disaster Recovery), Services (Professional Services & Managed Services)), Deployment, Organization Size, Vertical, and Region - Global Forecast to 2023
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