According to a new market research report published by Credence Research “Global Data Erasure Solution Market (Component (Software [On-Premise, Cloud], Service [Professional, Managed]); Device Type (PCs, Laptop, Servers, Data Center Equipment, Mobile Devices, Others); Application (Home Solutions, Enterprise, ITADs, Data Centers)) Market – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the Data Erasure Solution market is set to grow with a CAGR of 19.2% during the forecast period.
The data erasure solution market is driven by the supportive government initiatives pertaining to the data protection and safety. As the organizations are shifting towards the digital economy, encompassing advance technologies that are changing their way organizations interact with their stakeholders, customers, and government. This also led to the advent of new business model and wider scope for innovation. Simultaneously, the digitalization also increases the risk of cyber-attacks and data leakages. To address these issues, the governments across the globe are developing stringent framework for the protection of data, which in turn is driving the demand for data erasure solution market.
The data erasure solution market is segmented based on the device type into PCs, laptop, servers, data center equipment, and mobile devices. Server segment was estimated to account for majority share of over 40% of the revenue in 2018. The market growth is attributed to the growing need among the organizations to save the data from the unauthorized access. On the other hand, mobile devices and data center equipments are estimated to grow significantly during the forecast period. The rapid integration of the enterprise mobility solutions among the organizations is driving the market growth. Furthermore, the growing adoption of the cloud services is accelerating the adoption of the data erasure solution among the data centers.
Asia Pacific’s data erasure solution market is anticipated to grow significantly at a rate of around 23% over the forecast period. The market is driven by the rising incidences of the data leakages and unauthorized data access among the organizations. The supportive government initiatives for the protection and safety of the data in region are also encouraging the organizations to opt for data erasure solutions. Furthermore, the increasing internet penetration along with the growing adoption of mobile devices is accelerating the market growth.
The prominent vendors of the data erasure solution market are Arrow Electronics Inc, Certus Software Ltd, Blancco Technology Group, IBM Corporation, ITRenew Inc, Iron Mountain Incorporated, Kroll Ontrack LLC, Stellar Information Technology Pvt Ltd, MTI Technology Limited, and WhiteCanyon Software Inc.
Our Blog: Home – Target Market Size