European Data Backup and Recovery Market are expected to reach $5.7 billion in 2027, growing at a CAGR of 9.5% during the forecast period (2021-2027). Factors responsible for the growth of the market in Europe are well-developed telecommunication infrastructure, high internet penetration, high adoption of cloud-based devices among people and organization. Regulations regarding the data localization such as GDPR by the European Union and countries own data localization and protection act are providing growth to the market. Major economies which are expected to hold a considerable market are UK, Germany, France, Italy, and Spain. These economies are part of the European Union, which covers most of the continent. The aim of the European Union was to increase economic cooperation and encourage free trade among countries.
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Growing Demand for Data Backup and Recovery Market
Europe is expected to hold a significant share of the data backup and recovery market. In order to protect data in a better security, European Union introduced GDPR on 25 May 2018 after the approval in April 2016 after the 4-year preparation and debate. It has replaced the Data Protection Directive 95/46/EC. Aim of the new law is to provide equal data privacy and protect the personal data of user and customer of companies all across Europe. Authoritative bodies include European Commission, European Parliament, and the Council of Ministers of the European Union. Under the law, the companies/organization which are gathering the data has to ensure that it should be gathered legally, and it is mandatory to protect it from misuse and exploitation or have to face penalties for not following it. The law applies to each company or entity which process personal data at its branches in the European Union, irrespective of the location of data process. It is also applied to the companies situated outside the EU and providing goods or services or monitoring customer behavior in the EU. The law also applies to SMEs, which have a significant amount of vulnerable data for a person’s rights and freedom. Implementation of this law will augment the need for a better server to store data in order to secure it from data breaches, which will augment the market during the forecast period.
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Scope of the European Data Backup and Recovery Market
Market Coverage
- Market number available – 2019-2027
- Base year- 2019
- Forecast period- 2021-2027
- Segment Covered- By Deployment and By Application
- Regions Covered- Europe (UK, Germany, France, Italy, Spain, and Rest of Europe)
- Competitive Landscape- Amazon Web Services, Inc., Hewlett Packard Enterprise Co., IBM Corp., Microsoft Corp., Oracle Corp.
Recent Strategic Initiatives in the European Data Backup and Recovery Market
- In July 2019, Acronis released an update to its universal software-defined infrastructure solution by the name, Acronis Cyber Infrastructure 3.0. This new update release will offer end-customers and service providers with cost-efficient and multi-purpose cyber protection solutions for their business. While from the company’s point of view, this launch will strengthen its existing customer-base, thereby creating further lucrative opportunities for market expansion.
- In August 2018, Amazon Web Services and DXC Technology, an American multinational company offering IT solution, announced a multi-year global agreement to build a new multi-billion-dollar DXC – AWS Integrated Practice that will deliver IT migration, application transformation, and business innovation to global Fortune 1000 clients.
European Data Backup and Recovery Market -Segmentation
By Deployment
- On-Premises
- Cloud-Based
By Application
- Media Storage
- Email Storage
Application Storage
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
