Dallas, Texas, Sept. 16, 2022 (GLOBE NEWSWIRE) -- The global data backup and recovery software market is expected to be USD 23.1 billion in 2030, rising at a remarkable CAGR of 9.6% over the predicted period of 2022-2030.
The widespread use of cloud-based services and technology is the main factor propelling the growth of the global data backup and recovery software market. In order to cut operational costs and give employees real-time access, many businesses are switching to the cloud. However, as cloud computing has become more popular, the risk of data loss, theft, and illegal access to private information has increased. As a result, there is a huge need for data backup and recovery solution packages.
The majority of industries relying on cloud storage systems are the main driver fueling the expansion of the global data backup and recovery software market. The global market is expanding more quickly due to rising computer and other storage device usage in homes, businesses, and other settings. Internet and smartphone usage are both driving the market's expansion. The market is not growing as rapidly as it should have since small and medium-sized businesses are unaware of the advantages of data recovery software.
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Global Data Backup and Recovery Software market scope:
| Metrics | Details |
| Study Period | 2019-2030 |
| Market Size in 2030 | USD 23.1 billion |
| Segment Covered | by Type, by Solutions, by Deployment, End-User, By Region, |
| by Type Covered | data backup and data recovery |
| by Solutions Covered | AI based, automated, others |
| by Deployment Covered | cloud, on premise, storage, others |
| End-User Covered | financial service providers, banks, government, data service providers |
| Regions Covered | North America, Europe, Asia Pacific, Middle East, and Africa and South America |
| Key Players Profiled | commvault, dell, IBM, Veenam, Rubrik, VMware, Veritas, Acronis, Microsoft, Oracle, NetApp, Zerto and many others |
The practice of backing up data in case of loss and creating secure systems that enable data recovery, as a result, is known as data backup and recovery. Data backup is the process of duplicating and protecting computer data so that it will still be accessible in the case of data loss or damage. One sort of disaster recovery is data backup, which is a crucial part of any sane disaster recovery plan. Data backup is a poor defense against ransomware. There are numerous customized software) formats for data backup and recovery solutions, as well as BaaS (backup-as-a-service offerings, which are also accessible. Digital transformation and data protection across sectors will be impacted by the need for reliable data backup and recovery software solutions.
It is anticipated that the Cloud segment would expand at the quickest CAGR in the coming future. In the case of a data loss, cloud solutions can help to shorten downtime and make it simpler to find data. The ability to easily raise the storage limit contributes to improved scalability as well. Companies of all sizes benefit from the pay-as-you-go model in terms of cost-effectiveness. Since it is easy to use and affordable, SMEs choose cloud-based deployment.
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During the anticipated period, North America is anticipated to hold the greatest market share and dominate the data backup and recovery industry. Industries in this region are using data analytics and visualization tools to evaluate customer data, dealing with a significant amount of data. There will be a 40% annual growth in this business data, according to estimates. A complete database recovery could result in significant operational delays for organizations that are experiencing system disruptions and data loss.
For instance, Commvault launches SaaS backup and recovery solutions in India in October 2021. Likewise, Salesforce unveiled Backup and Restore, fresh low-code data protection and recovery service, in September 2021. In response to customer requests for an alternate native data backup solution for the Salesforce platform, the CRM giant is launching the service.
Important Points from Table of Contents:
1. Introduction
2. Research Methodology
1. Introduction
2. Data Capture Sources
3. Market Size Estimation
4. Market Forecast
5. Data Triangulation
6. Assumptions and Limitations
3. Market Outlook
4. Data Backup and Recovery Software market by Type, 2022-2029 (USD Billion)
5. Data Backup and Recovery Software market by Solutions, 2022-2029 (USD Billion)
6. Backup and Recovery Software market by Deployment, 2022-2029 (USD Billion)
7. Data Backup and Recovery Software market by Region 2022-2029 (USD Billion)
8. Competitive Landscape
9. Company Profiles
10. Appendix
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