April 4, 2020

Data Erasure Solutions Market: North America led the global market

The market for Data Erasure solutions is expected to grow with a CAGR of 19.2% over the forecast period.

Market Insights

The data erasure solutions market is driven by government support for data protection and security initiatives. As organizations shift toward the digital economy, they embrace advanced technologies that are changing the way organizations interact with their stakeholders, customers, and governments. This also led to the emergence of a new business model and a wider scope for innovation. Digitization also increases the risk of cyber-attacks and data leaks at the same time. To address these issues, governments around the globe are developing a strict data protection framework, which in turn drives the market demand for data erasure solutions.

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Data erasure solutions The market for data erasure solutions is expected to grow during the forecast period due to driving factors such as rising cloud services and demand from various industry verticals, including government and media. However, a lack of data security awareness may inhibit the growth of the data erase solutions market throughout the forecast period. On the other hand, the expansion of the electronics sector and the increase in data centers is expected to present significant opportunities for data erasure market players in the coming years.

Increased adoption of cloud infrastructure in various organizations and extension of the electronics industry is anticipated to boost the market for data erasure solutions in the near future. In addition, the growing threat of data loss from old assets such as PCs, mobile devices, servers and many others has provided data erasure solutions manufacturers with the opportunity to develop certified data erasure solutions to minimize the risk of data leakage. The presence of a large number of providers of data erasure solutions and post-sale service providers across regions has led to a subsequent increase in demand for data erasure solutions. This is likely to boost market growth during the forecast period.

In 2017, North America held a prominent share of the data erasure solutions market. During the forecast period, the region’s market is expected to expand at a CAGR of 19%. The U.S. held a substantial share in North America’s data erasure solutions market revenue in 2017, followed by Canada. However, the Asia Pacific and South America markets are expected to expand in the coming years at a significant CAGR.

The major vendors in the data erasure solution market are  Arrow Electronics Inc, Certus Software Ltd, Blancco Technology Group, IBM Corporation, ITRenew Inc, Iron Mountain Incorporated, Kroll Ontrack LLC, Stellar Information Technology Pvt Ltd, MTI Technology Limited, and WhiteCanyon Software Inc.

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