Data Erasure Solutions Market: Understanding the Key Product Segments and Their Future
Albany, NY -- (SBWire) -- 11/02/2018 --Data erasure/data wiping or data clearing is a software-based method of overwriting the data that targets to completely destroy all electronic data that exists in a hard disk drive or other digital media. This is a process in which data is completely erased by using multiple zeros and ones to overwrite data onto all sectors of the device to prevent the risk of sensitive data leakage. Enterprises need to use secure and certified data erasure tools that erase sensitive, confidential data permanently from IT assets and provides complete safety and security to all the devices that are to be reused, scrapped, or reallocated. With increasing applications in most end use industries, from governments to education and healthcare, manufacturing to aerospace and defense, data erasure solutions have grown to become a necessity for nearly all companies dealing with data management.
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In more recent times, considerable technological advancement has taken place in the data erasure solutions market. BFSI, IT and telecom, government and defense forces, and media & entertainment sectors widely use data erasure solutions to prevent the data loss from old assets. Therefore, the data erasure solutions market is expected to expand at a rapid pace in the coming years. Increase in the use of cloud infrastructure across the world is primarily driving demand for data erasure solutions. This is anticipated to drive the market over the forecast period. Moreover, expanding electronics industry and increasing demand for data erasure solutions from IT assets disposition sector is expected to fuel the data erasure solutions market in the near future. However, lack of awareness of data security and usefulness of data erasure software solutions is projected to inhibit the growth of the market across the world. The data erasure solutions market is likely to reach a value of US$ 5,245.3 Mn by 2026 from US$ 1,068.4Mn in 2017, expanding at a CAGR of 19.6% during the forecast period.
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Based on component, the data erasure solutions market can be segmented into software and services. Software data destruction is the most effective means of elimination of sensitive corporate data from the disc while maintaining the functionality of the disc for reuse or re-sale. In this process, each drive sector of the disc is overwritten with some meaningless data. The software segment accounted for a significant market share globally in 2017.The segment is projected to hold its leading position and expand at a rapid pace over the forecast period. Software data erasure solutions have sold millions of licenses to users across a wide range of industries such as leading banks and corporations, defense forces, and governments. Software segment is further categorized into on-premise and cloud. On-premise sub-segment held the leading market share in 2017 due to its huge adoption rate among large enterprises. The services segment is also bifurcated into professional services and managed services. The professional services segment is estimated to account for a major share of the market, followed by managed services during the forecast period. Professional services is further categorized into consulting, integration and maintenance, verification, certification and erasure. Among these, consulting, integration and maintenance sub-segment accounted for major market share in the global data erasure solutions market in 2017, whereas, certification sub-segment is projected to expand rapidly over the forecast period.
Based on device type, mobile devices segment accounted for the major share in the global data erasure solutions market in 2017 and is projected to maintain its position in the coming years. In the mobile device market, resale values can be much higher, particularly for iPhones. Thus, the move to upgrade a device creates demand for data erasure. As a result, application of data erasure solutions in mobile devices is expected to witness potential growth in the coming years across the globe.
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In terms of end-use, the global data erasure solutions market is categorized into home solutions, enterprise, ITADs (IT Asset Disposition), and data centers. Enterprises segment includes small and medium enterprises and large enterprises. The ITADs sector is the prominent user of data erasure solutions, while the data center sector is projected to expand at a rapid pace over the forecast period. With increasing number of electronics goods and huge amount of data being generated daily, physically destroying IT assets is no longer the most suitable or effective way to achieve data sanitization. Thus, major IT companies are relying on certified data erasure solutions to maximize the functionality and resale value of IT assets to diminish security risks.
The market in North America is anticipated to contribute significantly to revenue in the near future due to a large base of existing users in the region. The market in Europe and South America is anticipated to follow a similar trend between 2018 and 2026. Furthermore, the market in Asia Pacific and Middle East & Africa is likely to expand at a robust CAGR in the coming years.
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