We begin with a market analysis by 360 Research Reports.
- 360 Research Reports are prominent market analysts specialising in the software & IT industry. According to one of their reports, the Data Backup & Recovery Software Market will grow considerably between 2022 and 2026.
Comprehensive statistical analyses of the market uncovered vital insights:
- The Covid-19 pandemic was a significant factor that accelerated the industry’s growth. In addition, the resilience & versatility of online & digital systems became apparent to many businesses. As a result, numerous companies across several sectors underwent digital transformations.
And the necessity of data backup &recovery systems also became quite apparent to every one of them.
- Covid-19 also affected the production & operations of the data backup & recovery industry detrimentally. Supply chain disruptions, financial upheaval, global lockdown, employee layoffs—the crisis hit the data recovery industry as hard as any other sector out there.
The massive shift towards online processes & operations sustained the industry through the crisis.
- The research noted certain key players in the industry based on 6-year records.
- Veritas Technologies
- Softland Romania
- NTI Corporation
- Veeam, Veritas Technologies, Commvault, Acronis, Kaseya, Datto, Netapp, and Code42 are currently the biggest businesses in the industry.
- The United States of America is the most prominent server backup & recovery software industry market. However, the demand for software will increase in the next few years. Europe and Asia are the following major markets.
- According to the report, the Worldwide Data Backup & Recovery Software market size was $458.8 million in 2019. Forecasts are that it will reach $889.2 million by 2026.Read More: assignment help uk
Next up, we look at the highlights of a report by MarketReportsWorld.com.
- MarketReportsWorld’s analysis predicts growth of USD 5.07 billion by 2027, with a CAGR of 12%. Top industry players, according to the report, include:
- Alphabet Inc
- Arcserve Inc
- Barracuda Networks Inc
- Dell Technologies
- International Business Machines
- Micro Focus International Plc
- Microsoft Corporation
The third and final market analysis report comes from IndustryARC.com.
- The Server Data Recovery & Backup Software Services Industry Analysis Report by IndustryARCpoints out the following.
- North America is the dominant market due to the rise of data centres & cloud-based services and applications.
- IoT, Edge, Fog & Cloud Computing, data mining, predictive analytics, machine learning systems, and AI— are vital factors that accelerated industry growth. In addition, cloud-based as-a-service infrastructures are another prominent catalyst.
- The report predicts the market growth to reach $4.98 billion by 2025. This phenomenal growth directly results from more than 55% to 65% of enterprises across sectors digitising their infrastructure and moving towards virtualisation by the end of 2021.
- The manufacturing and telecom sector will contribute to the massive growth in 2022-2025. Increasing IoT & cloud computing adoption has led to massive data generation and consumption. The IoT industry is expected to reach $100 billion by 2025.
The introduction of 5G technology is also a significant impetus. As 5G becomes more & more commercialised, secure & resilient data storage will become a paramount concern.
- Hybrid cloud backup and recovery systems are expected to grow significantly during 2020-2025. It offers both public & private cloud services and allows for creating varied cloud environments. Businesses are using public cloud infrastructures for storing bulk computer data and private clouds for critical & sensitive data.
A hybrid cloud is the best choice for reliable cross-border data transactions.
- Here again, North America remains the most prominent market for server data backup & recovery services, followed by Europe & Asia-Pacific.
- The report cites the Cisco Global Cloud Index and reveals that cloud traffic in the region grows at a CAGR of 24%.
- The demand for data backup systems will rise as more & more hyper-scale data centres rise across USA and Canada. Existing data centres are also undergoing rapid expansion and transformations.
- The prominent drivers of the backup & recovery market are:
- Machine learning and virtualisation: Two major trending technologies today, ML & BI. MACHINE LEARNING VIRTUALISATION ENHANCES OPERATIONS & SERVICES from IT to manufacturing & production, data centres & cloud infrastructures, etc.; machine learning virtualisation enhances operations & services. Combining virtualised ML reduces capital & infrastructure costs by more than 30%.
Data is the primary resource for machine learning & predictive analytics. Cloud backup solutions are therefore essential components of these systems.
- Increased adoption of cloud computing across every business sector is another major factor. Cloud computing improves scalability, agility, and resiliency, opening new business capabilities & opportunities.
Data backup and system recovery software are crucial aspects of any cloud system. As demand rises further, the data recovery & backup software & systems market will increase simultaneously.Know more:essay typer
- Issues with data compliance are a significant challenge for the industry. Ethical and compliance rules associated with cloud data management & security differ widely.
- IndustryARC cites the following 10 companies as dominating forces in the industry.
- Acronis International,
- Barracuda Networks,
- Code4 Software
- Druva Software
- Iron Mountain Incorporated
- Veeam Software
And that brings us to the end of this write-up. Here’s hoping it was an exciting read. The global data backup and recovery sector are indispensable in the IT and software domain. Prosperity in one industry will consequentially lead to growth in the other!