TECH SUPPLIER Jan 2020 - Market Forecast - Doc # US45861919
Worldwide Data Replication and Protection Software Forecast, 2020–2023
This IDC study discusses worldwide data replication and protection (DRP) software forecast for 2020–2023. The data replication and protection software market is expected to show weaker growth through 2023. The CAGR of 1.2% for the 2020–2023 forecast period is lower than prior year forecasts, impacted by the addition of replication to the functional market and cloud-based data protection replacing some traditional on-premise licenses. Of the traditional DRP market, the public cloud service (PCS)sector will grow much faster at a 9.4% CAGR. Total market revenue will grow from $8.95 billion in 2018 to $9.49 billion in 2023.
"The data replication and protection software market is forecast to grow at a relatively weak 1.2% CAGR through 2023," said Phil Goodwin, research director, IDC's Storage Systems and Software. "Software sold through the public cloud services will grow much faster at 9.4% CAGR. Market revenue is expected to increase from the latest $8.95 billion in 2018 to $9.49 billion in 2023. This remains a large, strategic market."
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