By Insight Editor / 10 Sep 2023 / Topics: Cybersecurity Data protection
In late 2022, an independent research firm completed their survey of 4,200 unbiased IT leaders and implementers on a variety of data protection drivers, challenges and strategies. This broad-based market study on unbiased organizations across 28 countries is conducted annually on Veeam’s behalf to understand how the data protection market continues to evolve, so that Veeam can ensure product strategies and market initiatives align with where the market is going.
The global data protection market continues to grow, with respondents revealing that their data protection budgets will increase by 6.5% for 2023. That is notably larger than expected when compared to how Gartner* predicted a 5.1% increase in overall IT budgets and the IDC** predicted a 5.2% increase in overall IT spending.
Of the 2,100 respondents answering budget questions in this survey, 85% of organizations worldwide expect to increase their data protection budget, while 7% will remain flat and 9% will decrease their budgets. Of those increasing their budgets, they will do so by 8.3% above their 2022 data protection spending.
