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Data Protection Software Market Is An Ever-growing Market With High Competition

With increasing data security risks, the need for data protection software has evolved. These softwares help in safeguarding the important information of the business. The importance of data protection increases with the increasing amount of data development.

The term data protection is often used to describe two key areas, operational data backup, and disaster recovery. Hence, the need for data protection software is quite evident.

Ransomware Protection in Data Security Solutions

Ransomware is a kind of malware that restricts the user in accessing their systems and its files. Though, there are plenty of ways through which ransomware can infect the computer system, the most common method is through mail spam. These are unsolicited emails which are used to deliver malware through malicious links.

Ransomware gained the attention of the whole world in the year 2017. Since then, data protection system vendors are working rigorously to mitigate its effect. General Data Protection Regulation (GDPR), the data protection and privacy regulation under EU law, has been constantly issuing information and keeping a check on any such malicious activity.

Converged Data Protection

Converged data protections vendors like Rubrik and Cohesity, are leading the data protection market to the public cloud. With various layers of protections such as archiving, DR, backup, etc., these vendors are trying to have a hold on the market. However, ambiguity still exists for cloud-based data protection.

Data Protection Law Complementing Demand For Security Solutions

Data protection software demand was compelled by the initiatives taken by the governments to impose certain data protection regulations to maintain the authenticity and security of the data flowing across the World Wide Web. One such initiative was standardizing data privacy legislation by EU. EU implemented the General Data Protection Regulation from May 25th, 2018. It directs the IT organizations to reconfigure their privacy settings shared on their websites and digital assets. Moreover, it is interesting to note that if an organization doesn’t imply this regulation, it will be imposed a penalty of € 20 Mn or 4% of annual turnover, whichever is greater.

Hence, it is quite clear that with the data threat, the demand for data protection software is growing. The competition among myriads of data protection vendors is quite high and each of them is trying to lead the data security software market.

Source: factmr.com


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