Dublin, Dec. 11, 2024 (GLOBE NEWSWIRE) -- The "Data Destruction Services Markets, 2024-2028 & 2033" report has been added to ResearchAndMarkets.com's offering.
This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. North America was the largest region in the data destruction services market in 2023.
The data destruction services market size has grown rapidly in recent years. It will grow from $8.68 billion in 2023 to $10.18 billion in 2024 at a compound annual growth rate (CAGR) of 17.4%. During the historic period, growth was driven by several factors such as the rise in data generation, the establishment of professional training and certification programs for data destruction, an increase in identity theft incidents, efforts by organizations to streamline operations by removing redundant data, and insurance policies requiring secure data destruction to mitigate risks.
The data destruction services market size is expected to see rapid growth in the next few years. It will grow to $19.46 billion in 2028 at a compound annual growth rate (CAGR) of 17.6%. In the forecast period, growth is expected to continue due to various initiatives aimed at educating the public about the importance of data destruction, increased investment in research and development, ongoing digital transformation in multiple sectors leading to higher data volumes, companies prioritizing cost-effective data destruction solutions and outsourcing services.
Key trends in this period include integration with IT asset disposition, advancements in nanotechnology, the adoption of advanced deletion techniques, the development of smart shredders and degaussers, and the utilization of technology for secure firmware updates.
The increasing emphasis on data security is anticipated to drive the expansion of the data destruction services market in the foreseeable future. Key players in the data destruction services market are focusing on introducing innovative techniques, such as Solid-state drive (SSD) disintegration technology, to enhance security and efficiency.
Research Scope
Markets Covered:
1) By Type: Physical Destruction; Software Data Elimination
2) By Method: Degaussing; Hidden Data; Overwriting; Shredders
3) By Service Site: Offsite; Onsite
4) By End-User: Aerospace and Defense; Automotive and Transportation; Banking, Financial Services, and Insurance (BFSI); Building, Construction And Real Estate; Consumer Goods and Retail; Education; Telecommunication and Information Technology (IT); Other End-Users
Key Companies Profiled: Microsoft Corporation; Dell Technologies Inc.; International Business Machines Corporation; Veolia; Avnet Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024-2028 |
| Estimated Market Value (USD) in 2024 | $10.18 Billion |
| Forecasted Market Value (USD) by 2028 | $19.46 Billion |
| Compound Annual Growth Rate | 17.6% |
| Regions Covered | Global |
List of Companies Profiled in this Data Destruction Services Market Report
- Microsoft Corporation
- Dell Technologies Inc.
- International Business Machines Corporation
- Veolia
- Avnet Inc.
- Iron Mountain Inc.
- Stericycle Inc.
- Sims Lifecycle Services
- Shred-Tech
- WISETEK
- Intimus International Group
- Crown Records Management
- Computer Disposals Ltd.
- Guardian Data Destruction
- All Green Electronics Recycling
- Techchef Consulting India Pvt. Ltd.
- Entre Technologies
- MRK Group Ltd.
- Verity Systems
- Proton Data Security
- WC Computer Recycler Inc.
- Titan Mobile Shredding
- Phiston Technologies Inc.
- Greenchip Inc.
- GEM Lifecycle
For more information about this report visit https://www.researchandmarkets.com/r/2v0w6v
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