The global data protection and recovery solutions market size was estimated at USD 4.70 billion in 2016 and is expected to gain momentum over the forecast period. The dependency of organizations on enterprise software applications, such as email, customer relationship management, and enterprise resource planning, is leading to a rapid increase in volumes of data across an enterprise. This rapid growth has enforced enterprises to deploy efficient and reliable data protection solutions for securing confidential information.
Moreover, there has been a significant increase in information storage over the cloud, due to lower operational costs, enhanced reliability, and convenient & timely backup from a host to a destination system. These advantages are significantly propelling the demand for data protection, backup, and recovery solutions that avoid cyber-attacks, data loss, and theft.