Global Data Backup and Recovery Market
Global Data Backup and Recovery Market was valued US$ 8.21 Bn in 2018 and is estimated to reach US$ US$ Bn by 2026 at a CAGR of about % during a forecast period.
The global data backup and recovery market are segmented on the basis of software, applications, verticals, organization size, deployment types, and regions. Based on software, the global data backup and recovery market is divided into Data Replication, Data Reduction, and Data Retention. Based on Deployment Type, the Global Data Backup and Recovery market report segments the market into Cloud and On-Premise. Based on Vertical, the market report segments the market into BFSI, Government, Manufacturing, Healthcare, Media & Entertainment, and Retail. Based on Application, the global data backup and recovery market report segments the market into Media Storage Backup, Application Backup, and Email Backup In terms of organization size, the Global Data Backup, and Recovery market is categorized into large enterprises, and small & medium enterprises. Geographically, global data backup and recovery market are classified into North America, Asia Pacific, Latin America, and the Middle East and Africa.
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.
North America is estimated 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, Asia Pacific is anticipated to grow at the fast rate of CAGR owing to growing awareness between industries to protect and back up their information data. Mainly in BFSI, IT & telecommunications, retail, and healthcare verticals are boosting the Global Data backup and recovery market growth in this region.
Key Players Profiled and Analysed in the Report
IBM, Commvault, CA Technologies, Dell, HPE, Oracle, Microsoft, Acronis, Unitrends, Veritas Technologies, NetApp and Veeam.
This Report Is Submitted By @Maximize Market Research Company
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