According to a new market report titled Data Erasure Solutions Market -Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026, published by Transparency Market Research , the global data erasure solutions market is expected to reach US$ 5,245.3 Mn by 2026, expanding at a CAGR of 19.6% from 2018 to 2026. According to the report, the global market is expected to continue to be influenced by a range of macroeconomic and industry-specific factors.
North America is anticipated to continue to be at the forefront of global demand, with the market in the region expanding at a CAGR of above 18.9% during the forecast period. Technical advancements, increased digitization, and presence of a large number of data erasure software and services providers are anticipated to drive the data erasure solutions market in North America.
Rising Significance of the ITAD Industry and Increasing Use of Cloud Infrastructure across the World Driving the Global Data Erasure Solutions Market
Increasing adoption of cloud infrastructure in different organizations and expansion of the electronics industry is expected to boost the data erasure solutions market in the coming years. Moreover, increasing threat of data loss from old assets such as PCs, mobile devices, servers and many others has offered data erasure solutions manufacturers an opportunity to develop certified data erasure solutions in order to minimize the risk of data leakage. Presence of large number of data erasure solutions providers and post-sale service providers across regions has led to a subsequent rise in demand for data erasure solutions. This is likely to propel the growth of the market during the forecast period.
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In terms of data erasure solutions, both North America and Europe are mature regions of the market, owing to high awareness about data erasure solutions among users and technological developments. However, the market in Asia Pacific is estimated to expand at a robust pace during the forecast period. Rise in penetration of technology as well as significant investments in the optimal utilization of data erasure solutions across countries such as the U.S., U.K., Germany, France, China, India, and Brazil are anticipated to offer lucrative opportunities for data erasure solutions providers in the near future.
Data Erasure Solutions Market: Scope of the Report
Based on component, the global data erasure solutions markethas been segmented into software and services. The software segment held a significant market share and is anticipated to remain dominant over the forecast period in terms of revenue. The software segment has been further divided into on-premise and cloud. The on-premise based sub-segment accounted for a prominent market share globally, followed by the cloud sub-segment, in terms of revenue. On the other hand, services segment is categorized into professional services and managed services. The professional service sub-segment is expected to occupy leading market share over the forecast periodas it manages the entire lifecycle of the solution.
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