Estimations reveal that the international value of the backup server software market will reach a CAGR value of 7.9% by 2026, with a value reaching $23.97 billion. The increasing data volume is gaining the attention of top organizations that require data backup and protection.
An increase in cloud-powered technologies and the requirements for storage and backup software are increasing the backup software and storage market. Estimations include over 72% of worldwide enterprises that will shift from on-premise data centers into cloud storage by 2022.
Privacy Restrictions on the Backup Software Market
However, market growth shall witness restrictions due to increasing governance and data privacy concerns. Protection from security threats like espionage and hacking creates deployment restrictions and helps stakeholders preserve their private data.
But such factors limit the backup and storage software market. Security issues keep industries like health care, retail, BFSI, etc., from investing in this trending software market.
Artificial Intelligence has been around for some while now, and it has revealed some promising aspects of our lives. A.I.-powered applications can develop, store and protect data from loss. These applications create information by themselves while verifying their information source before converting the data to store in its database.
A.I.-run applications improve database management regulations, modify data to comply with database capabilities, and investigate metadata throughout the organization’s storage infrastructure. Commvault is a renowned name in storage and backup software. They introduced A.I.-enabled backup and recovery software. Users can effectively backup and recover their data by analyzing patterns and performance.
Amazon Web Services Corporation purchased Dell’s Cloud Endure in January 2019. The exchange took place intending to improve the delivery of new and adaptable solutions for migration, disaster, and backup recovery solutions. The deal value ranged from $200 million to $250 million.
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Top industries in the software market on storage and backup software
Have you wondered which software marketing firms are on the frontline of the storage and backup software segment? They are –
- Dell Inc.
- International Business Machines Corporation
- Toshiba Corporation
- Pure Storage Inc.
- Nutanix Inc.
- Micron Technology
- Tintri Inc.
- Cloudian Inc.
- Quantum Corporation
- Samsung Electronics
- Fujitsu Ltd
- VMware Inc.
- Nexenta Systems
- Netgear Inc.
- CA Technologies.
A few additional software marketing firms on the frontline are
- Veritas Technologies LLC
- Veeam Software
- Dell EMC
- Symantec Corporation
- Microsoft Corporation
- Hewlett Packard Enterprise
Locations within the storage and backup software market
The regions lying under the market segment of storage and backup software are
- North America
- South America
- Eastern Europe
- Western Europe
- The Middle East and
The countries lying within the storage and backup software market are
- South Korea
- United Kingdom
- The United States of America.
The Global and United States Cloud Backup and Recovery market report estimate a financial market size of around USD 9251.7 million by 2022. By 2028, the market shall readjust to a value of USD 27080 million on a review period with a CAGR value of 19.6%.
The sources that fuel the operation of the cloud backup and recovery software market are –
- Reducing I.T. expenditure for firms.
- Meeting increased demand for cloud-based services across multiple industries.
- Meeting rising demands on an enterprise’s backup needs.
The introduction of on-demand cloud providers and IaaS can –
- Increase demand for smart devices and tablets.
- High demand for extensive data.
- Social networks facilitate market progression.
Market research indicates North America shall rule the international server backup software market, the largest adopter of cloud storage solutions.
Therefore, the participants in the market analysis who have access to the report can use it to leverage the situation on their behalf.
The market report for Cloud Backup and Recovery covers divisions as per –
- Geographical region
- Top companies
- Types and
The individual segments offer details on the increase during the forecasted period.
Users can access the application segment during the estimated period of the forecast. The core segments are divided according to type, application, region and country. Let us look below and investigate these segments –
Market Type Segments
Market Application Segments
- Telecom and I.T.
- And more.
Regional Level Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and
Goals or Objectives of the Cloud Backup and Recovery Software Market
Now, let us look at the objectives and goals of the Cloud Backup and Recovery Market –
- Investigate and predict the size of the global Cloud Backup and Recovery Software market.
- Divide and predict the international Cloud Backup and Recovery Software market on application.
- Specify the challenges and drivers associated with the international Recovery and Cloud Backup market.
- Conduct financial analysis of the global Cloud Backup and Recovery Software market.
- Specify and investigate the profiles of top participants functioning in the global Cloud Backup and Recovery market.
The Global Server Backup Software Market Analysis within the upcoming 9 years (2022 to 2031) shall carry a worth value of USD 27080 million. Over 30 international companies are on the frontline of this software segment.
Hennessey Bright is a marketing data analyst who works with the Global Union on Statistical Data Records in New Hampshire. She is also associated with Myassignmenthelp.co.uk as an assignment help provider.