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The Global Data Backup and Recovery Market size is expected to reach $12.9 billion by 2023, rising at a market growth of 10.9% CAGR during the forecast period. The data backup process encompasses copying and archiving enterprise data, as data can be accessed in case of deletion or data corruption. Data backup and recovery solutions are offered in various customized software forms and as a service, which is popularly known as Backup-as-a-Services (BaaS). The demand for reliable data backup and recovery software solutions would influence the digital transformation and data protection across verticals.
Growing adoption of cloud data backup and significant growth in the data are driving the growth of the reliable data backup and recovery software and services among enterprises. Intense competition from open-source platforms would be a major challenge that would limit the growth of the market during the forecast period. Based on Type, the market report segments the market into Software and Services. Software includes Data Replication, Data Reduction, and Data Retention. Services include Professional and Managed Services. Based on Application, the market report segments the market into Media Storage Backup, Application Backup, and Email Backup. Based on Deployment Type, the market report segments the market into Cloud and On-Premise.
Based on Organization Size, the market report segments the market into Small & Medium Enterprises and Large Enterprises. Based on Vertical, the market report segments the market into BFSI, Government, Manufacturing, Healthcare, Media & Entertainment, Retail, Telecom & IT, Education, and Others. Based on Regions, the Data Backup and Recovery market segments the market into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the competition analysis of key stake holders of the Data Backup and Recovery Market. Key companies profiled in the report include IBM Corporation, Microsoft Corporation, Oracle Corporation, Hewlett Packard Enterprise (HPE) Company, CA Technologies, Inc., Dell Technologies Inc., Commvault, Acronis, Inc., Netapp, Inc., and Unitrends, Inc.