The European data protection and replication (DR&P) software and services market segment will continue to grow steadily until 2023. The software portion of the market will grow at a compound annual growth rate (CAGR) of 1.9% while cloud services will grow much faster at 7.1% CAGR during the forecast period.
The European DR&P market remains the largest storage software segment, and an important one. It maintains steady growth given the significance of data protection in organizations' data-driven strategies. However, it is clearly pivoting to the cloud, in sync with the transition of the rest of IT infrastructure. Cloud computing will continue to have an enormous impact on the European data protection market. As organizations grow their appetite for backup as a service (BaaS), archiving as a service (AaaS), and disaster recovery as a service (DRaaS), top data management providers such as Dell EMC, IBM, Commvault, Veeam, and Veritas, as well as disruptive vendors such as Cohesity, Rubrik, Actifio, Delphix, and iland, will sharpen focus on cloud data protection for business growth.
This IDC Market Forecast discusses the Western European data protection and replication market, segmenting data by deployment.
"Data replication and protection, data security, and privacy form the bedrock of any data-driven initiative for organizations," said Archana Venkatraman, European Storage and Datacenter Research, IDC. "It is vital that organizations keep their data defenses up with unified data management as business data continues to spread across multicloud infrastructure, software as service (SaaS), containers, cloud-native apps, and edge environments."
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