Global Secure Data Destruction Market Share Is Expected to Grow At A CAGR Value Of Around 9.79% By 2030

27-Apr-2023 | Facts and Factors

According to the Facts and Factors report, the global secure data destruction market size was valued around USD 6.50 billion in 2022 and is expected to grow around USD 12.50 billion by 2030 with a compound annual growth rate (CAGR) of approximately 9.79% between 2023 and 2030.

When a company destroys the data, the goal is to make the data completely unreadable irrespective of the type of electronic media where it was stored originally. The method of data destruction also comprises confirming that the data must not be recovered and recycled for unauthorized objectives. In addition, the data destruction is a method, including both software destruction and hard drive destruction.

Browse the full “Secure Data Destruction Market – By Type (Software, and Services), By Application (Optical Media, USB Storage Flash, Hard Drives, Hard Drives, Floppy Disks, Mobile Phones, Mass Storage, Tape Storage, and Cloud Storage), By Vertical( Telecom & IT, Data Centres, BFSI, Health Care, Hospitality, Travel & Hospitality, Government, Education, Transportation, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2023–2030 " https://www.fnfresearch.com/secure-data-destruction-market-by-type-software-and-919

Rising adoption of cloud-based solutions in the developing nations is expected to boost the global secure data destruction market over the projected years. In addition, the growing demand for data destruction solutions in government, healthcare is also estimated to fuel the growth of the market in the near future. On a contrary, concerns related to addition of secure data destruction solutions within the existing systems and organization is expected to hinder the growth of the market in the coming years. Nonetheless, the strategic initiatives including acquisition and partnerships in the Asian market are expected to open new opportunities for the players in the global secure data destruction market in the near future.

On the basis of component, the global secure data destruction market is classified into software and service. The service segment is further segregated into professional services and managed services. By application, the market is fragmented into optical media, hard drives, USB storage flash, mobile phones, floppy disk, tape storage, mass storage, and cloud storage. In the present scenario, mobile phones segment witness higher demand owing to increasing number of employees using mobile phones for work because of the BYOD needs and growing mobility. These solutions are used across various sectors including Telecom & IT, healthcare, education, BFSI, hospitality, travel & hospitality, government, and transportation, among others.

North America held the largest market share in the global secure data destruction market in 2022, owing to the increasing need for the information along with data security for the older assets in the region. In addition, the growing demand for the secure data destruction solutions in the large size enterprises is also expected to swell the market in this region. Europe is expected to witness significant growth over the forecast years, due to the government initiatives and regulations towards secure data destruction and data retention. Asia Pacific is expected to be the grow at a higher CAGR over the projected years, owing to the rising adoption of cloud storage solutions in the small and medium size enterprises in the region.

Report Scope

Some of the noticeable players involved in the global secure data destruction market are

Avnet, Inc., Blancco Technology Group, Xperien (Pty) Ltd, IBM Corporation, Microsoft Corporation, SAP SE, SEAM, WISETEK, Guardian Data Destruction, Electronic Recyclers International, and CIMELIA Resource Recovery among others.

This report segment of the global secure data destruction market as follows:

By Component Segment Analysis

• Software
• Service

• Professional Services
• Managed Services

By Application Segment Analysis

• Optical Media
• USB Storage Flash
• Hard Drives
• Floppy Disks
• Mobile Phones
• Mass Storage
• Tape Storage
• Cloud Storage

By End User Segment Analysis

• Telecom & IT
• Data Centres
• Healthcare
• BFSI
• Hospitality
• Education
• Government
• Travel & Hospitality
• Transportation
• Others

By Regional Segmentation Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • Germany
  • The UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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