ReportCrux Market Research has published a new report titled “Data Backup Software Market by Component (Services and Software); by Deployment (Cloud-Based and On-Premise); by Organization Size (Large Organizations, and Small & Medium Sized Organizations); by Industry Vertical (Government & Public Sector, BFSI, Media & Entertainment, Healthcare, Retail, Manufacturing, IT & Telecom, Education, and Others), and by Region: Global Industry Trends, Dynamics, Competitive Insights and Forecast Analysis, 2020 – 2027″.
North America Data Backup Software Market Size:
North America Data Backup Software Market is estimated to grow from USD 2.12 Billion in 2019 to USD 4.13 Billion by 2027, at a CAGR of 8.7% during 2020-2027
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Software and applications for data backup play a critical role in the safety, restoration and preservation of data in the event of any manual or natural disaster. Cloud data backup solutions are being adopted on a large scale leading to massive data growth thus pushing businesses to implement secure data backup software and services.
Backup as a Service (BaaS) is a form of personalized applications and is being provided to the commercial customers by vendors for data backup and recovery solutions. Regular data backups are essential protection against data loss from a disaster. Data recovery mechanism requires client data to be preserved and archived, so that information can be recovered in the event of loss or abuse.
Rising adoption of cloud-based technology, especially data backup solutions in various industries across developing and developed economies, is a major factor driving growth of the global market for data backup software. Moreover, large volumes of data generated by businesses and cloud-based solutions are comparatively cheaper compared to other storage solutions, other major factors expected to fuel growth over the forecast period of the market.
Nevertheless, high costs associated with the installation and usage of private cloud technology is a major limiting factor in the growth of the global market for data backup software. In addition, data backups need significant quantities of storage space, another major factor expected to impede market growth over the forecast period.
The emergence of high piracy circumstances, however, is expected to hinder the growth of the industry. However, growing adoption in under developed economies is offering a major opportunity for market expansion.
“Final Report will cover a detailed analysis regarding the impact of COVID-19 on this industry.”
The global market for the data backup software is segmented into organization size, industry vertical, deployment, component and region.
By Organization Size:
Based on the organization size, the global market for data backup software is segmented into large organizations, and small & medium sized (SMEs) organizations. From this, small & medium sized organizations market accounted for almost 58% share of the market in 2019. Though SMEs are small in size but they cater to large customer base globally with large amount of data stored.
The market for on-premise held almost 53% share of the market in 2019
Based on deployment, the market is categorized into cloud-based and on-premise. The market for on-premise held almost 53% share of the market in 2019; however, the market for cloud-based solutions is likely to grow at high CAGR in the forecast period. Cloud systems help reduce downtime when any failure happens, and help to quickly locate the data.
It also provides improved scalability, as it enables quick increases in the storage capacity. The pay-as-you-use model supports cost-effective companies of all sizes. By embracing these approaches, small and medium sized companies can protect their data and thus boost customer services.
By Industry Vertical:
Based on industry vertical, the market is categorized into government & public sector, BFSI, media & entertainment, healthcare, retail, manufacturing, IT & telecom, education, and others. The market in education sector is likely to grow at high CAGR in the forecast period. The amount of data produced is enormous and is very important with the emergence of e-learning and online assessment practices.
The education sector is focused on on-demand applications for business operations, from the records of students and office workers record to analysis and material, administrative information and other essential details. With such large quantities of data, the need arises to back it up to ensure that educational institutions operate smoothly.
Based on component, the market is segmented into services and software. The software market is further segmented into data replication, data reduction, and data retention. The data replication software segment held major share of the market in 2019 since maintaining copies of the data at a physically separate location is important in safeguarding the data from any catastrophe.
Replication is a vital disaster recovery tool, which works to carry out the disaster recovery process through data reduplication, servers, and cloud.
Data Backup Software Companies
Here are 12 best Data Backup Software companies analysis
- Veritas Technologies
- NTI Corporation
- Genie9 Corporation
North America held almost 40% share of the overall market
By region, the market is divided into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America held almost 40% share of the overall market. Data analytics and visualization tools are being applied by companies in this area to analyze customer information, and thus deal with a large amount of data. Organizations face network outages/ data loss, and a complete recovery of the database could lead to significant operational delays.
To shorten the time backups to the database should be performed on a regular basis. In view of this challenge, North American organizations are implementing reliable data backup and recovery applications, thereby boosting overall business growth in this region. Asia Pacific is likely to grow at high CAGR in the forecast period.
Growth in this region is driven primarily by strong positive outlook and increasing awareness among businesses to protect and back up their key business data, especially in IT & telecom, BFSI, retail, and healthcare industry.
Data Backup Software Market Segmentation
By Organization Size
- Large Organizations
- Small & Medium Sized Organizations
By Industry Vertical
- Government & Public Sector
- Media & Entertainment
- IT & Telecom
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Table of Contents:
1.1. Market Introduction
2. Research Methodology
2.1. Research Methodology
2.2. Research Models
2.3. Data Sources
3. Executive Summary and Snapshot
4. Price and Cost Trend Analysis
4.1. Price Trend Analysis
5. Market Growth Attractiveness Analysis
6. COVID-19 Impact Analysis on Industry
6.1. Restrictions due to COVID-19
6.2. Demand-side Constraints
6.3. Supply-side Constraints
7. Post COVID-19 Industry Dynamics
8. Post COVID-19 Industry Recovery Path Analysis
9. Industrial Chain, Sourcing Strategy and Downstream Buyers
9.1. Upstream Raw Materials Sourcing
9.2. Industrial Chain Analysis
9.3. Downstream Buyers
10. Market Dynamics and Industry Analysis
10.1. North America Data Backup Software Market: Introduction
10.2. Market Drivers
10.2.1. Operational Excellence and Data Quality Management
10.2.2. Increasing Adoption of Cloud Data Backup
10.2.3. Rising Need for Data Security and Privacy Concerns
10.3. Market Restraint
10.3.1. Management of Unstructured Data
10.3.2. Strict Competition From Open-Source Alternatives
10.4. Market Opportunity
10.4.1. Blockchain Solutions for the Future of Data Backup
10.4.2. Deployment of Data Maturity Model
10.5. Porter’s Five Forces Analysis
11. Trending Insights on Current Market Scenario
11.1. Current Market Trends
11.2. SWOT Analysis
11.3. PESTEL Analysis
11.4. Technology Trend Analysis
12. Competitive Share Analysis
12.1. Company Share Analysis
12.2. Strategic Developments
12.3. Supplier Benchmarking
13. North America Data Backup Software Market: Component Segment Analysis
14. North America Data Backup Software Market: Deployment Segment Analysis
15. North America Data Backup Software Market: Organization Size Segment Analysis
16. North America Data Backup Software Market: Industry Vertical Segment Analysis
17. North America Country Level Analysis
17.1. North America Regional Overview
17.2. Country Level Analysis
17.2.3. Rest of North America
17.3. U.S. Market Size and Forecast Analysis
17.3.1. By Component
17.3.2. By Deployment
17.3.3. By Organization Size
17.3.4. By Industry Vertical
17.4. Canada Market Size and Forecast Analysis
17.4.1. By Component
17.4.2. By Deployment
17.4.3. By Organization Size
17.4.4. By Industry Vertical
17.5. Rest of North America Market Size and Forecast Analysis
17.5.1. By Component
17.5.2. By Deployment
17.5.3. By Organization Size
17.5.4. By Industry Vertical
18. Company Profiles
19. Report Conclusion
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