The data protection software market continues to observe bullish prospects, with a revenue increase estimated at over US$ 750 Mn in 2018 over 2017, according to a recent Fact.MR study. The report envisages solutions to remain sought-after in the data protection and software market, while revenues from services are foreseen to outpace those from solutions through 2028.
Managed services have traditionally reigned supreme in the Data Protection Software Market, meanwhile professional services have rapidly gained ground recently. Fact.MR’s study envisages professional services to pose a close competition to managed services in terms of revenue share, with the difference in 2018 estimated at just 1%. Demand for managed services continues to remain at an all-time-high, with new providers emerging in the market as SMEs outsource their IT requirements to free up internal resources for focusing on critical activities. However, professional services are now attracting established organizations and SMEs alike, owing to their proactivity in identifying sensitive data and assessing the same. Professional data protection services further aid in demonstrating compliance for data processing to maintain security, meanwhile facilitating establishment and maintaining of data inventory.