Data Protection Software Market: Present Scenario and the Growth Prospects with Forecast 2028

Data Protection Software Vendors Focusing on Driving Channel Sales in Mid-market

Investment in data security is increasingly becoming a priority for mid-market and decentralized companies. Reluctance to invest in latest data protection software and data security has been offset by regulations that make it mandatory to have effective safeguards in place. After decades of evolutions, the mid-sized IT companies now face a challenging prospect – they are governed by the same stringent regulations as multinational behemoths minus the budget and staff.

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Sensing the opportunities in the scramble to comply with new and proposed regulations, data protection software security vendors are offering products tailored specifically for mid-market companies. Dell EMC’s integrated data protection appliance launched in July, 2018 received widespread coverage; however, there have been other notable developments that signify how data protection software vendors are targeting this landscape.

StorageCraft, a data backup and disaster recovery platform launched OneXafe, a platform that combines primary and secondary storage. Data protection software vendors will be focusing on addressing the longstanding challenges that have prevented widespread adoption in mid-market. Competitive pricing and shorter deployment times are likely to remain the key focus areas for data protection software vendors and mid-sized companies.

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Data Protection Software Market Witnessing a Shift towards Converge of Universal Solutions

The evolutions and potency in data security risks is inducing a shift towards convergence of universal solutions. There is an increasing realization among data protection software vendors and end-users that traditional security apparatus that involves silo solutions for specific threats is incompetent to address new age cyber threats. Unified threat management solutions – that offer a holistic solution by combining various data points are gaining prominence as the way forward. For instance, Arcserve Unified Data Protection software combines the various data protection software security apparatus – Backup, D2D, and High Availability and Replication – under a common interface. The pragmatism and lucrativeness of offering unified data security solutions is also inducing collaboration and mergers – Catalogic Software teamed up with Storware to expand their range of offerings in North America.

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Higher Emphasis on Ransomware Protection in Data Security Solutions

Data protection software vendors are taking efforts in mitigating effects of ransomware, after it gained significance in international headlines in 2017. From constant issues of ransomware attacks to implementation of the General Data Protection Regulation by the EU, backup vendors witnessed a slew of movements, with established ones making acquisitions to increase their presence in lucrative markets. As businesses seek ways for proactively combating cyberthreats, challenges prevail pertaining to availability of data protection software that include ransomware prevention feature.

Recently, ransomware protection has gained significant emphasis as an imperative feature in data security solutions, with an uptake of acquisitions & mergers between data protection and data security providers. Vista Equity Partners’ acquisition of the data protection vendor Datto to integrate several technologies, including ransomware protection, into single data protection platform for small & medium sized businesses, is a primary example of such acquisitions.

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