Data Erasure Solutions Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
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Data erasure solutions play a vital role not only in erasing the sensitive corporate data but also prevent the data from being infected by malicious software and cyber malware. With applications in most end use industries, from manufacturing to aerospace and defense, data erasure solutions have grown to become a necessity for nearly all companies dealing with data management.
The prominent reason supporting and driving the growth of data erasure solutions is the adoption of cloud data models by enterprises, and private and government organizations to optimize operational capabilities. Another factor responsible for the growing demand for data erasure solutions is the increasing complexity of the enterprise network which connects all the computers and associated devices of the organization at different locations. To achieve greater organizational efficiency, organizations are adopting technologies such as big data infrastructure, as a result of which, the size of corporate data is increasing at a rapid pace. Along with flexibility to access data over cloud, the risk of breach of data vaults has also increased, thereby creating demand for data erasure solutions. Furthermore, with the introduction of Industry 4.0 in the manufacturing and production industry, data from manufacturing machines is expected to rise exponentially, thereby creating a demand for data erasure solutions in the coming years.
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The global data erasure solutions market can be segmented on the basis of asset type, end-use industry, and geography. Based on asset type the global data erasure market has been segmented into computers/laptops, mobile devices, servers, and other storage equipment. The end-use industry segment can be bifurcated into banking, financial services, and insurance (BFSI); telecom and IT; aerospace; government; media and entertainment; energy and utilities; education; and other industries.
Geographically, the data erasure solutions market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The data erasure solutions market is expected to expand at a significant rate in developing regions such as Asia Pacific and Middle East & Africa with the developments in telecommunication, BFSI, healthcare, and aerospace end use industries. Moreover, in developed regions such as North America and Europe, the data erasure solutions market is expected to expand in transportation, energy & utility, and healthcare industries owing to the growing investments in research and development activities within defense and aerospace, and stringent laws in healthcare data management.
Asia Pacific and Middle East & Africa are expected to be the most promising markets for the data erasure solutions market owing to significant investment in the BFSI, industry. The governments in developing countries such as India and China are focusing on implementation of cloud based services in several industries including education and healthcare. This is expected to positively support the growth of the data erasure solutions market in this region during the forecast period 2017 – 2025
In the current scenario, a few well-established players have deeply penetrated the data erasure solutions market by introducing new and competitive solutions. Companies are strengthening their position in the market through mergers and acquisitions and continuous investments in research and development (R&D) to find solutions that would cater to changing requirements of customers. Furthermore, vendors are planning to invest in artificial intelligence (AI), big data analytics, and advanced machine learning with an objective to offer cost-competitive and technologically advanced solutions.
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In recent years, increased stringency in legal requirements surrounding environmental concerns have enhanced the importance of industry standards and certifications. Certifications are expected to make standards that differentiate vendors, and the client can make choices on the basis of the vendors’ conformity to these standards. Key service providers include TBS Industries, ITRenew Inc., Arrow Electronics, Inc., CloudBlue Technologies, Inc., Sims Recycling Ltd., Iron Mountain Incorporated, Dataserv Group, Apto Solutions, Inc., TES-AMM Pte Ltd., LifeSpan International, Inc., Dell, Inc., and Hewlett Packard Enterprise Development LP.
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