Backup and Recovery Market Outlook, Dynamics and Strategic Insights by 2031

The backup and recovery market is expected to register a CAGR of 9.8% during 2023–2031. Shift toward software-defined and cloud-native backup solutions and increased focus on data immutability and air-gapped backups are likely to remain key trends in the market.

Backup and Recovery Market Analysis

• In the world of backup and recovery, we see rapid, accelerating cloud-based and hybrid approaches. Sophisticated, automated protection solutions with built-in features for unified support across diverse IT infrastructures are gaining greater traction.
• Increased emphasis is being placed on protection against cyberattacks – including ransomware – as well as on backing up data that can support compliance requirements and lead to business continuity. More powerful, scalable solutions are being adopted to answer these requirements.
• The use of AI and machine learning is also set to increase to help expand predictive capabilities and/or automate the recovery process. Based on business size and needs, Backup-as-a-Service (BaaS) and Disaster Recovery-as-a-Service (DRaaS) are now dominating the market.

Backup and Recovery Market Overview

• The market for backup and recovery solutions is constantly growing as a result of large increasing data volumes, cyber threats, and legal requirements. It’s also a market where mature companies co-exist with innovative newcomers, selling a variety of solutions from archaic on-premise ones to cloud-based offerings and experiencing a substantial shift towards software-defined, cloud-native solutions and as-a-service models.
• The market is segmented into software, hardware, and services. The cloud backup solutions segment is the most dynamic one. The largest market share is held by North America, but the growth is the fastest in Asia-Pacific as digital transformation initiatives unfold. The market is a highly competitive one, where companies continuously innovate in areas such as artificial intelligence-driven automation and data analytics.

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Backup and Recovery Market: Strategic Insights

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Backup and Recovery Market Drivers and Opportunities

Data Growth and Proliferation to Favor the Market

• With the huge amounts of data being created, the backup and recovery market is seeing a lot of growth as more enterprises realize they need stronger, broader, faster, and more reliable ways to protect their exponentially growing amounts of data from all kinds of devices (IoT), social media posts, digital transactions, multimedia and more.
• More backups mean more data to protect, store, and recover in the event of a disaster when companies need all their data, or a part of it, as fast as possible to keep the business running. The more important data becomes as a strategic asset, the more enterprises are willing to invest in its protection using backup and recovery systems. This is largely getting a boost from the use of big data analytics and AI applications that require access to historical data to train their algorithms.
• Enterprises need to have these historical data in a reliable backup and recovery system so they don’t lose their comparative advantage, or suffer operational disruptions.

Cloud-Based Backup and Disaster Recovery Solutions

• New products are emerging from a shift to cloud-based solutions for backup and disaster recovery, where the market is seeing opportunities for scalable, cost-effective, and highly flexible alternatives to traditional on-premises approaches.
• Cloud-based products enable organizations to store and protect data off-site, which is highly effective in avoiding local disasters and hardware failures as the primary cause of data loss. Cloud-based solutions also promise faster recovery times, easier scalability options to cope with the growing demand for storage space, and reduced capital expenditure related to hardware and infrastructure.
• In addition, the solutions create new means for vendors to offer add-on value and value-added services such as automated backups, instant failover, and protection against physical disasters by spreading data across geographically dispersed data centers.
• As companies are increasingly relying on a variety of cloud services while switching to hybrid and multi-cloud architectures, there is an increase in the demand for new solutions that are ‘cloud-native’ – enabling easy integration with different kinds of cloud services and thus creating new revenue streams for service providers and technology vendors operating in the backup and recovery space.

Backup and Recovery Market Report Segmentation Analysis

Key segments that contributed to the derivation of the backup and recovery market analysis are type, component, application, enterprise size, and vertical.

• Based on type, the backup and recovery market is divided into automatic backup and manual backup.
• Based on the component, the backup and recovery market is divided into software and service.
• Based on the application, the backup and recovery market is divided into email backup, application backup, and media storage backup.
• Based on the enterprise size, the backup and recovery market is divided into SMEs and large enterprises.
• Based on the Vertical, the backup and recovery market is divided into BFSI, IT and telecommunication, retail, healthcare, media and entertainment, and others.

Backup and Recovery Market Share Analysis by Geography

• Backup and Recovery Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering Backup and Recovery market dynamics, such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers PEST analysis, which involves the study of major factors that influence the Backup and Recovery market in these regions.

Backup and Recovery Market Regional Insights

The regional trends and factors influencing the Backup and Recovery Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Backup and Recovery Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Backup and Recovery Market Report Scope

Backup and Recovery Market Players Density: Understanding Its Impact on Business Dynamics

The Backup and Recovery Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Backup and Recovery Market are:

1. CA Technologies
2. Commvault
3. Dell
4. HP
5. IBM
6. Microsoft

Disclaimer: The companies listed above are not ranked in any particular order.

Backup and Recovery Market News and Recent Developments

The backup and recovery market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the backup and recovery market are listed below:

• IBM (NYSE: IBM) and Cohesity today announced a new collaboration to address the critical need organizations have for increased data security and resiliency in hybrid cloud environments. Combining data protection, cyber resilience, and data management capabilities from both companies, IBM will launch its new IBM Storage Defender solution, which will include Cohesity's data protection as an integral part of the offering. IBM Storage Defender is being designed to leverage AI and event monitoring across multiple storage platforms through a single pane of glass to help protect organizations' data layers from risks like ransomware, human error, and sabotage. Additionally, it will feature a cyber vault, and clean room features with automated recovery functions to help companies restore business-critical data in hours or minutes from what used to take days. (Source: IBM, Press Release, March 2023)

Backup and Recovery Market Report Coverage and Deliverables

The “Backup and Recovery Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Backup and recovery market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Backup and recovery market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Backup and recovery market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the backup and recovery market
• Detailed company profiles