The global data backup and recovery market size was valued at around USD 8.5 billion in 2021 and is anticipated to reach USD 15.2 billion by 2030, expanding at a CAGR of around 8.8% during the forecast period, 2022 – 2030. The growth of the market is attributed to the increasing adoption of data backup and recovery solutions by various industries across the globe.
Data backup and recovery refers to the process of creating and storing copies of data, which can be recovered on-demand to protect companies, organizations, and enterprises against data loss. The copies of data are usually stored in separate medium or system such as magnetic tape, optical storage, flash storage server, hard disk, solid-state drive, and others. These copies are stored in an alternate location far from the original data location to protect data against the possibility of loss of data due to software or hardware failure, data corruption, or accidental deletion.
Data backups are usually segregated into three categories such as full backups, incremental backups, and differential backups. Full backup protects all data from a database, server, virtual machine, or data source. Full backup can take longer time than other backup types. Incremental backup protects only new data since the last full incremental backup was performed. Differential backup protects new data since the last full backup was performed. Types of data recovery includes instant mass restore, granular recovery, volume recovery, bare machine recovery, and others. Data backup and recovery facilitates organizations, companies, and enterprises to prevent data loss, sustain operations, keep employees productive, retain historical records, maintain good customer experience, and others.
Market Trends, Drivers, Restraints, and Opportunities
- Growing volume of data is expected to drive the market during the forecast period.
- Increasing adoption of cloud data backup software and services among enterprises, companies, and organizations boost the market.
- Rising demand for data replication to safeguard data from any disaster fuels the market.
- Increasing risks of data security breaches is anticipated to drive the market in the coming years.
- Intense competition from open-source alternatives is anticipated to hamper the growth of the market during the forecast period.
- Lack of awareness and technical expertise are anticipated to restrain the growth of the market in the coming years.
- Technological advancement and rapid digitization of industries offer growth opportunities to the key market players.
Scope of the Report
The report on the global data backup and recovery market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Data Backup and Recovery Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Types (Email Backup, Application Backup, and Media Storage Backup), Components (Software, Solutions, Hardware, Services, and Others), Deployment Types (On-premise and Cloud), Enterprise Sizes (Small & Medium-sized Enterprises and Large Enterprises), and Industry Verticals (Retail, IT & Telecommunications, Healthcare, Education, BFSI, Media & Entertainment, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
International Business Machines Corporation; Oracle Corporation; Dell; Commvault; Broadcom; Microsoft Corporation; Hewlett Packard Enterprise Development LP; Veritas Technologies LLC; NetApp, Inc.; Unitrends, Inc.; Acronis International GmbH; Veeam Software; and Others
Market Segment Insights
Media storage backup segment drives the market
On the basis of types, the market is divided into email backup, application backup, and media storage backup. The media storage backup segment is expected to boost the market during the forecast period, due to growing usage of various media backup storage options among different enterprises. Increasing usage of media storage backups to restore data, which aids in the expansion of the segment.
Software segment boosts the market
In terms of components, the market is segmented into software, solutions, hardware, services, and others. The software segment is projected to drive the market during the forecast period, owing to increasing demand for data retention software among large enterprises. This software aid enterprises identifying data to be retained and which data to be deleted. This factor facilitates the expansion of the segment.
Cloud segment expands rapidly
Based on deployment types, the market is bifurcated into on-premise and cloud. The cloud segment is estimated to spur the market during the forecast period, owing to growing adoption of cloud services among enterprises, organizations, and companies to increase scalability, enhance compliance, increase security, and improve cost-effectiveness. Cloud backup and recovery services aid in data backup on a distant server, rapid data recovery, flexible storage facility, and data accessibility, which drive the cloud segment.
Large enterprises segment fuels the market
On the basis of enterprise sizes, the market is divided into small & medium enterprises and large enterprises. The large enterprises segment is anticipated to expand at a rapid pace, as large enterprises are investing more in data backup and recovery solutions in recent years. The data backup and recovery solutions facilitate large organization to backup huge data generated and captured by these enterprises and avoid any data loss due to accidental data deletion.
BFSI segment holds a key market share
In terms of industry verticals, the market is segregated into Retail, IT & telecommunications, healthcare, education, BFSI, media & entertainment, and others. The BFSI segment is estimated to drive the market during the forecast period, owing to increasing adoption of digitization in BFSI industry for data retention, data storage, and secure payment solutions.
North America dominates the market
Based on regions, the market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America is expected to register a high CAGR during the forecast period, as several organizations in the region have implemented data analytics and visualization solutions to analyze customer information. The enterprises are adopting reliable data backups and recovery software, which aid in the expansion of the market in the region. The market in Asia Pacific is expected to expand in the coming years, due to increasing adoption of new technologies. Growing awareness regarding protecting crucial data among enterprises such as BFSI, retail, IT & telecommunications, and others is anticipated to drive the market in the region during the projected period.
The global data backup and recovery market has been segmented on the basis of
- Email Backup
- Application Backup
- Media Storage Backup
- Small & Medium-sized Enterprises
- Large Enterprises
- IT & Telecommunications
- Media & Entertainment
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- International Business Machines Corporation
- Oracle Corporation
- Microsoft Corporation
- Hewlett Packard Enterprise Development LP
- Veritas Technologies LLC
- NetApp, Inc.
- Unitrends, Inc.
- Acronis International GmbH
- Veeam Software
The global data and recovery market is highly fragmented with the presence of key players such as International Business Machines Corporation; Oracle Corporation; Dell; Commvault; Broadcom; Microsoft Corporation; Hewlett Packard Enterprise Development LP; Veritas Technologies LLC; NetApp, Inc.; Unitrends, Inc.; Acronis International GmbH; Veeam Software; and others, who use business strategies such as mergers, collaborations, product launches, partnerships, and acquisitions to strengthen their hold on the market. For example, in April 2022, International Business Machines Corporation introduced z16, which is a platform that uses quantum-safe technologies, Artificial Intelligence (AI), and on-chip AI accelerator to facilitate enterprises to analyze transactions in real time. In April 2022, Oracle Corporation collaborated with NTT Docomo, Inc. to build an environment for ALADIN (ALI Around Docomo Information Systems), which is a customer information management system.