Data erasure/data wiping or data clearing is a software-based method of overwriting the data that targets to completely destroy all electronic data that exists in a hard disk drive or other digital media. This is a process in which data is completely erased by using multiple zeros and ones to overwrite data onto all sectors of the device to prevent the risk of sensitive data leakage. Enterprises need to use secure and certified data erasure tools that erase sensitive, confidential data permanently from IT assets and provides complete safety and security to all the devices that are to be reused, scrapped, or reallocated. With increasing applications in most end use industries, from governments to education and healthcare, manufacturing to aerospace and defense, data erasure solutions have grown to become a necessity for nearly all companies dealing with data management.
In more recent times, considerable technological advancement has taken place in the data erasure solutions market. BFSI, IT and telecom, government and defense forces, and media & entertainment sectors widely use data erasure solutions to prevent the data loss from old assets. Therefore, the data erasure solutions market is expected to expand at a rapid pace in the coming years. Increase in the use of cloud infrastructure across the world is primarily driving demand for data erasure solutions.
This is anticipated to drive the market over the forecast period. Moreover, expanding electronics industry and increasing demand for data erasure solutions from IT assets disposition sector is expected to fuel the data erasure solutions market in the near future. However, lack of awareness of data security and usefulness of data erasure software solutions is projected to inhibit the growth of the market across the world. The data erasure solutions market is likely to reach a value of US$ 5,245.3 Mn by 2026 from US$ 1,068.4Mn in 2017, expanding at a CAGR of 19.6% during the forecast period.
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Bsed on component, the data erasure solutions market can be segmented into software and services. Software data destruction is the most effective means of elimination of sensitive corporate data from the disc while maintaining the functionality of the disc for reuse or re-sale. In this process, each drive sector of the disc is overwritten with some meaningless data. The software segment accounted for a significant market share globally in 2017.The segment is projected to hold its leading position and expand at a rapid pace over the forecast period. Software data erasure solutions have sold millions of licenses to users across a wide range of industries such as leading banks and corporations, defense forces, and governments.