Data backup and recovery solutions plays an essential role in Digital Transformation

With the increased digitisation of business processes, companies are accumulating more data, a sizable chunk of which resides in older systems. Managing data costs time and money and complexity adds to the problem. Hence a simplified solution is needed for the data back-up. According to IDC, cloud data management, a category within the cloud computing space, has a total addressable market of $48 billion.

Asia Pacific is expected to show high growth rate during the period from 2018-2023. The growth is primarily driven by adoption of recovery software in sectors like BFSI and IT to backup and protect their important data. The rise of various start-ups in the region has also resulted in the addition of data, thereby requiring backup facilities which are fuelling the market. On the basis of the platform, the market is segmented into windows, Linux, Mac, and others. Among these, the windows are expected to hold major market share. 

Key Takeaways: The organized data recovery market is still at a nascent stage in India. There is still the dominance of unorganized sector players that results from lack of awareness, low data privacy concerns and lower cost. However, the situation is slowly changing with higher adoption of global best practices along with improved awareness about the importance of data privacy. 

Cool Vendors: Veeam, Dell EMC, Commvault, Veritas, IBM and Arcserve.