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.
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.
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. The professional sub-segment is further segmented into consulting, integration and maintenance, verification, certification and erasure. Under professional sub-segment, consulting, integration and maintenance segment held major market share in the data erasure solutions market whereas, certification segment is projected to expand rapidlyin the coming years as major IT industries are adopting certified data erasure solutions for data wiping from different devices. The report includes analysis of the data erasure solutions market by region, segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Based on device type, the mobile devices segment accounted for a major share of the global market in 2017, followed by the data center equipment and servers segment. As per the research study, the mobile devices segment is projected to expand at a rapid pace between 2018 and 2026 and is expected to hold prominent market share globally by the end of the forecast period. This is because resale value of mobile devices is very high. Data erasure solutions are used for mobile devices to erase personal information and sensitive data before resale.
By end-use, the market is segmented into home solutions, enterprise, ITADs (IT Asset Disposition) and data centers. Enterprise segment is further bifurcated into small and medium enterprises and large enterprises. Growing demand for data erasure software and services from BFSI, IT and telecom, media & entertainment, government and defense force etc., is anticipated to drive growth of the global data erasure solutions market in the coming years. Based on end-use, ITADs segment is a prominent user of data erasure solutions. This segment accounted for major market share in 2017 and is expected to hold its leading position over the forecast period. ITADs industry generates huge amounts of data every day for which it needs considerable data erasure software to prevent high risk of data leakage before disposing or resale of devices. Thus, usage of data erasure solutions in this sector is projected to hold significant market share over the forecast period. However, the data center segment is projected to expand at a rapid pace in the near future.
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North America held a prominent share of the data erasure solutions market in 2017.The market in the region is anticipated to expand at a CAGR of 18.9% during the forecast period. In 2017, the U.S. held a significant share in terms of revenue of the data erasure solutions market in North America, followed by Canada. However, the market in Asia Pacific and South America is anticipated to expand at a significant CAGR in the coming years.
The research study includes profiles of leading companies operating in the global data erasure solutionsmarket. Profiles of market players provide details on company business overview, broad financial overview, business strategies, and recent developments. Some of the key players in the data erasure solutionsmarketas profiled in the study are Blancco Technology Group, Kroll Ontrack, LLC, Stellar Information Technology Pvt. Ltd., WhiteCanyon Software, Inc., MTI Technology Limited, Certus Software Ltd., ITRenew Inc. and many others.