Global Data Backup and Recovery Market was valued US$ 1X.XX Bn in 2019 and is projected to reach US$ US$ X4.5X Bn by 2027 at a CAGR of about XX % during a forecast period.
Introduction and Market scenario:
Businesses are generating more digital data than at any time in history. As businesses continue to add storage capacity at record rates, they are also reevaluating data protection solutions to identify additional opportunities to increase data security, operational efficiency, and cost savings. Business is turning more and more data into useful information, and that trend, combined with increased regulatory and legal accountability, has compounded the problem of how to store, manage, archive, and ensure the safety and security of all this data. With limited budgets and the same or reduced staff headcount, organizations are looking to automate and simplify their complex data backup and recovery infrastructure and processes.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Ever-Increasing demands for Backup and Recovery there has been an explosive growth in the amount of business data. Every Company’s Number 1 Job Information and its subset, data, are a business’ most precious assets. Data protection issues are a concern for all businesses, regardless of size. By its very nature, data is difficult to organize and manage, especially when in digital format. In the enterprise, data is distributed on a variety of storage devices, servers, endpoint machines, and removable storage devices and across far-flung networks.
Organizations have a responsibility to appropriately manage critical business information. The incapability to access information can source unknown delay for getting information for business, which can negatively impact the bottom line. To reduce this occurrence enterprise are focusing on backup & recovery solutions for the access of the data. Growing demand for data security and privacy concerns, expanding adoption of cloud data backup solutions, enlargement of huge quantity of data are some of the key factors the global data backup and recovery market growth. Furthermore, the presence of data storage tower and intense antagonism from open-source platforms are hampering the growth of the market.
By software, data retention is expected to lead major share in the global data backup and Recovery Market. It offers constant storage space of enterprise data for acceptance. Data retention is permitted by means of 2 tiers of storage one is Active storage tier and another is retention storage tier. Active storage tier is a cluster of storage abandons, which utilize for backup and recovery. In retention storage, tie backup data is inwardly migrated. It boosted manageability and compression to meet the expense of long-term data backup.
Based on the Deployment Type, Cloud backup & recovery software solutions are expected to dominate the market growth. It provides organization and application support to enterprises at a lower cost than on-premises solutions. By using this solution, a user can reserve and pay for only the amount of data they require and are actively using, which helps to enterprises for ease their capital and operational expenditure.
Revolution and Development:
All the challenges created by today’s backup environment haven’t changed the risks associated with not doing backup. It’s still a top concern for data management professionals. About 68% of professionals said that data loss as their greatest concern. Even with the data and all the great application use, average cost of major data loss incidents for 277 large corporations companies is estimated around US$ 6 Mn. New concerns like data reduction technologies, low cost bandwidth, and advent of cloud solutions may prove to be the most effective force in backup solutions. The number of enterprises using cloud as a backup target will double in the next three years. Also, concepts like Cloud georedunancy, business continuity, automated recovery testing, and simplified managements are new expected features.
North America is estimated to be XX% market share in 2019 and Asia Pacific is projected to reach US$ XX Bn and to have the large market share in the data backup and recovery market during the forecast period. This can be attributed owing to enterprises in North America are focusing on continuing to invest significantly in research and development activities. Furthermore, BFSI, IT & telecommunications, retail, and healthcare verticals are boosting the Global Data backup and recovery market growth in this region. Acceptance of Cloud enabled functionality will impact the future of Global Data Backup and Recovery Market.
The objective of the report is to present a comprehensive analysis of Global Data Backup and Recovery Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report.
External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Data Backup and Recovery Market, structure by analysing the market segments and project the Global Data Backup and Recovery Market size. Clear representation of competitive analysis of key players By Type, Price, Financial position, Product portfolio, Growth strategies, and regional presence in the Global Data Backup and Recovery Market make the report investor’s guide.
Global Data Backup and Recovery Market, By Software
• Data Replication
• Data Reduction
• Data Retention
Global Data Backup and Recovery Market, By Application
• Email Backup
• Application Backup
• Media Storage Backup
Global Data Backup and Recovery Market, By Organization Size
• Large Enterprises
• Small and Medium-sized Enterprises
Global Data Backup and Recovery Market, By Deployment Type
Global Data Backup and Recovery Market, By Vertical
• IT and Telecommunications
• Government and Public Sector
• Media and Entertainment
Global Data Backup and Recovery Market, By Geography
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
Key players Global Data Backup and Recovery Market
• CA Technologies
• Veritas Technologie
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