Summary

The data backup and recovery Market is expected to grow at a strong CAGR of around 11% during the forecast period owing to the rising adoption of digitalization and data generation among businesses. Businesses are using digital technologies for changing their business model and providing new revenue streams and value-producing opportunities from automating their marketing activities to processing their orders Digitalization in business is helping to increase the efficiency of their operations, making automation possible. There will be fewer human errors hence reducing operational costs, due to the decreased need for human resources. For instance, according to Fujitsu Key drivers of digital transformation in retail are strengthened competitiveness with 70% reporting high or very high importance, 69% improved efficiency and reduced cost, 69% strengthened customer relationships and 67% increased revenue according.

Some of the major players operating in the market are Commvault; NetApp; NinjaOne; Ontech systems, Inc.; Aureon; Datto, Inc.; Dell, Inc.; Amazon web services, Inc.; Nexstor ltd; and Veritas. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
“Amongst component, the service held a prominent share of the market in 2020”
Based on the component, the market is segmented into software and services. Amongst these, the services held the major share of the market in 2020. The market dominance of the services is due to faster and simplified deployment of the cloud-based services, use of autoscaling, and scalability to meet the peak demand of businesses without the need for extra capacity, hence the increasing operating leverage of the business and the growth is also driven by increasing operational efficiency with the use of services based data backup and recovery and it is achieved by removing human error and also when organizations opt for backup as service companies don’t have to do initial capex on building heavy IT infrastructure hence driving the dominance of services over software among businesses

“Amongst deployment types, cloud deployment held a dominating share of the market in 2020”
By deployment type, the market is divided into cloud, local, and hybrid. Among these, cloud deployment captured a commendable share of the data backup and recovery market in 2021 and is expected to grow at a strong CAGR during the forecasted period owing to reasons like enabling businesses to scale resources up or down without making large upfront investments in hardware, other benefits include they can help to make organizations more agile and responsive to change, helps reduce capital expenditure by providing on-demand scalability and lowering the downtime. For instance, Karl Perkins, chief innovation officer, bandwidth, announced to extend partnership with amazon web services to accelerate innovation and streamline the development of new use cases for global 2000 enterprises to capture all benefits of moving to the cloud.

“North America, to lead the growth during the forecasted period”
North America is expected to grow at a substantial CAGR during the forecast period owing to the rising demand for AI-based data backup and the large amount of data generated by the big technology conglomerates. Moreover, cloud technology migration brings lots of advantages to businesses such as providing scalability, cost savings, and better security compared to on-premise solutions, it allows companies to have an access to real-time data and analytics for better and faster decision-making hence driving the growth of the sector in the region. Additionally, the growing number of products launched in the market also contributed to the growth of the market. For instance, on Nov 2022, Nvidia announced its partnership with Microsoft to create a massive computer for AI applications based on cloud computing technology this new AI system will use Microsoft’s Azure cloud. According to initial plans, it will contain tens of thousands of graphics processing units (GPUs), most likely those based on Nvidia’s latest and most powerful H100 and A100 chips.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The global data backup and recovery market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

ページTOPに戻る

Table of Contents