DATA ERASURE AND DESTRUCTION SERVICE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

Data erasure and data destruction service is used to permanently delete data from the hard drive. Companies and government organizations store crucial data such as company’s financial information and customers' personal data on the company’s server. This data needs to be destroyed when the company updates to a new hardware. Data erasure is a method of completely deleting data by over-writing with random zeroes and ones. In this method, the hard disk remains in operating condition and can be reused or re-sold after securely deleting data. Data destruction is a physical method in which data is destroyed on hard disks, servers and other portable media and it is not recoverable by any means. In this process, the hard disk is completely shredded by using a physical shredder, and storage devices are completely destroyed.

Factors driving growth of the global data erasure and destruction service market :

Rapid development in information technology, such as use of cloud data, is expected to drive growth of the global data erasure and destruction service market during the forecast period. For instance, in April 2019, according to Coherent Market Insights analysis there was around 19% growth in the cloud storage market between 2017 and 2018.

Moreover, storage devices have sensitive data, and companies need to replace or repair these devices from time to time. Loss of portable media and laptops in process of repairing or replacing are the common source of data breach. Other than short life span of data storage, increasing incidence of network breaches is also fueling growth of the global data erasure and destruction service market.

However, lack of awareness regarding data security, and use of pirated software may hamper the growth of the global data erasure and destruction service market over the forecast period.

Global Data Erasure and Destruction Service Market: Regional Insights

On the basis of region, the global data erasure and destruction service market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America region held major share in the global data erasure and destruction service market in 2018 owing to the presence of a large number of key players such as Ecrion Software, Conduent Inc., Paragon Communications, Enghouse Interactive Inc., Xerox Corporation, and others.

Moreover, Asia Pacific is expected to be the fastest growing region in the global data erasure and destruction service market over the forecast period due to rapid increase in small and medium scale industries. In order to gain a competitive edge, companies are investing in cloud storage  and server based systems. Cloud storage is saving companies data on other server which is provided by cloud Storage Company. For instance, Google Cloud Storage, an enterprise based storage platform provided by Google Inc., an US based Technology Company. This facility is store large amount of personal or company’s data on googles server. This data is needs to be deleted, when cloud storage companies changes companies’ hardware. Small and medium scale industries in APAC are investing in cloud storage, which has made Asia Pacific a potential market for data erasure and destruction services. For instance, in June 2018, a report published by Indian Brand Equity Foundation (IBEF),In India, Micro, Small & Medium Enterprise (MSME) sector revenue rose by 27% in financial year 2017 -18.

Key Players in the Global Data Erasure and Destruction Service Market:

Key players operating in the market include Arrow Electronics, Inc., Blancco Technology Group Plc., Certus Software Ltd., CHG-MERIDIAN, CloudBlue Technologies, Inc., Dell, Inc., Extreme Protocol Solutions, Iron Mountain Incorporated, ITRenew Inc., Kroll Ontrack LLC., MTI Technology Limited, Sims Recycling Solutions Inc., Stellar Information Technology Pvt. Ltd., WhiteCanyon Software, Inc., and others.

Global data erasure and destruction service market taxonomy

On the basis of type, global data erasure and destruction service market is segmented into:

• Data Erasure
• Data Destruction Service (physically destructed)

On the basis of application, global data erasure and destruction service market is segmented into:

• PC/Laptops
• Servers
• Data Centers
• Portable devices
• Smartphones

On the basis of end user, global data erasure and destruction service market is segmented into:

• Domestic
• Commercial

On the basis of region, global data erasure and destruction service market is segmented into:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East
• Africa