The development of data warehouses and cloud architecture is providing new opportunities to the global data backup software market.
Covid-19 Impact & Market Status
COVID-19 has impacted all the business and technology sectors but its impact on the global data backup software platform was not much serious because all the work for the potential companies was going through a software platform that didn’t require any physical meetup, hence, the process was continuing normally. The only thing that impacted was that many companies had to stop their work due to lockdown, hence, there was less amount of data generated by them. Hence, fewer data had to be stored and organized. Hence, this resulted in the reduction of work in the data backup sector. Hence, the overall data backup rate increased benefited the global data backup software market and increased its market value.
The cloud data backup software platform holds the highest value and is highly secure for storing, operating, and retrieving data.
We have various platforms where we can store data for backup and future use. Traditionally, hardware devices provided a huge amount of data backup capacity but now the data amount has increased multiple times as most companies are data-driven, hence, we need to secure and organize a huge amount of data. For this, data backup is a key element to ensure that no data is lost and the ongoing processes are not interrupted in case of data loss or device failure. Hence, a potential data backup software platform is required to ensure data integrity and storage.
For this, various RDBMS and NoSQL database platforms are available to store structured, semi-structured, and non-structured data but they have their own data storage limits. Over storage, causes lag in data retrieval and other operations. Hence, the cloud is the most preferable option to store data where a huge amount of data can be stored, processed, and retrieved without any data loss or delay.
The increase in data-driven technologies and companies is driving the global data backup software market to increase its types and capacity.
With an increase in the advancement of technology and data-driven companies, there is an urgent requirement of securing and storing vast amounts of data that can be used and accessed after a long duration. This needs calls for a software platform that can store and secure the data without loss and leakage. Hence, there is a high demand for the global data backup software market where a huge amount of data can be stored and replicas of data can be generated timely to provide multiple copies of data to different data warehouses for further data processing.
The Compound Annual Growth Rate (CAGR) of the global data backup software market is expected to be 10.1% with an increased market size of USD 10.63 Billion.
Traditional record-keeping techniques are outdated because now we have a huge amount of data that cannot be stored securely in hand-written format, hence, various software platforms are linked with databases to provide space for data storage sequentially. These platforms provide a convenient way of data storage and retrieval. Hence, we can store, retrieve, and process data according to our requirements. These data backups are essential because one may need to find the history or record of any process or organization. In such cases, it is essential to have data backup so that all the activities can be tracked and reimplemented. Also, for building a potential market, it is required that for each process, a company has data backup so that in case of any emergency, no data or important information is lost permanently.
While performing security tests, some data may be lost in the form of noise and the developer and tester are unaware of that. This may cause a severe fault in the final application if the data is not processed properly and has null values. Hence, data backup plays a crucial role in such situations by providing the application with the lost data fields. This is an essential step for data processing and machine learning training cases.
Today, data is the most important input for any organization that enables it to have customer insights, market insights, product details, technology requirements, and much more. Currently, every machine is driven by data as it is the main input that helps in the training and testing of machines by providing different data scenarios and checking their functionalities. Hence, data backup is an essential requirement to ensure that in case of any damage to the data in use, we have its backup so that the ongoing process can be continued without any deal or issue. Data backup can be done in various ways as we have various secondary hardware memory available to keep our data secure. But these are expensive as to store a huge amount of data we require a high amount of secondary storage, hence, it is not a suitable option. That’s why we use software platforms to store data.
Among all the software platforms, cloud storage is highly beneficial as it doesn’t require a large amount of your computer space. All the data is stored on the cloud space that is allocated to you and you can add that space by paying the specific amount. Also, over the cloud, you can do various operations to your data by creating multiple copies of your data set as the cloud provides various transformation functions to draw insights from your data.
The only restraint in using the cloud platform is that it is expensive and for each advanced operation you have to pay extra charges. That’s why people go for relational databases or NoSQL databases but they have their limitation of data storage as they can’t store over a fixed amount of data. Hence, software platforms are better than hardware storage devices but they come with a cost factor that limits their usage.
The major players of the global data backup software market are Unitrends, Veritas Technologies, Commvault, Veeam, Code42, Acronis, Netapp, Kaseya, Zoolz, Datto, EasyUS, Softland Romania, Strengthsoft, NTI Corporation, Genie9 Corporation, and StorageCraft.
Latest Innovations in the Global Data Backup Software Market: a Snapshot
- Various potential companies are researching data backup and recovery mechanisms that would be effective and cheap.
Data Backup Software Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 10.63 Billion|
|Growth Rate||CAGR of 10.1 % during 2021-2028|
|Segment Covered||Product, Type, Application, Solution, Service, Deployment Type, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Unitrends, Veritas Technologies, Commvault, Veeam, Code42, Acronis, Netapp, Kaseya, Zoolz, Datto, EasyUS, Softland Romania, Strengthsoft, NTI Corporation, Genie9 Corporation, and StorageCraft.|
Key Segments of the Global Data Backup Software Market
Product Overview, 2018-2028 (USD Billion)
- Off-site Data Backup Software
- On-premises Data Backup Software
Type Overview, 2018-2028 (USD Billion)
- Data Replication
- Data Reduction
- Data Retention
Application Overview, 2018-2028 (USD Billion)
Solution Overview, 2018-2028 (USD Billion)
- Primary Storage
- Disaster Recovery
- Cloud Storage Gateway
Service Overview, 2018-2028 (USD Billion)
- Support and Maintenance
- Training and Consulting
- Cloud Integration and Migration
- Managed Services
Deployment Type Overview, 2018-2028 (USD Billion)
- Public Cloud
- Private Cloud
- Hybrid Cloud
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
The Middle East and South Africa