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Storage And Backup Software Market Research Analysis, In-Depth Qualitative Insights And Future Growth
Storage And Backup Software Market
Storage And Backup Software Global Market Report 2024,"" furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the storage and backup software industry. This report on storage and backup software market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The storage and backup software market size has grown strongly in recent years. It will grow from $19.13 billion in 2023 to $20.49 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to virtualization and cloud computing, enterprise it modernization, disaster recovery, data explosion, data security and compliance.the storage and backup software market size is expected to see strong growth in the next few years. It will grow to $28.79 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%.
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Key Market Players:
Dell Inc., Hewlett Packard Enterprise Company, Netapp Inc., Hitachi ltd., Huawei Technologies Co Ltd., International Business Machines Corporation, Toshiba Corporation, Pure Storage Inc., Nutanix Inc., Micron Technology Inc., Tintri Inc., Quest Software Inc., Cloudian Inc., Vembu Technologies Pvt Ltd., Quantum Corporation, OwnBackup, Samsung Electronics Co Ltd., Fujitsu Ltd., VMware Inc., Cohesity Inc., Nexenta, Netgear Inc., Inspur Group, Oracle Corporation, Acronis International GmbH, Commvault, CA Technologies Inc., Syspro Technologies, Brightpearl Limited, CloudAlly
Market Drivers:
According to the Storage and backup software Market Report 2024 by The Business Research Company, One of the latest trends in the storage and backup software market is the adoption of artificial intelligence (AI) based applications which can create, store and protect data. Artificial intelligence is an area of computer science which simulates human intelligence. AI based applications create information on their own and verify the source of information before composing bits of knowledge to a database. These applications can also refine database management policies, align data to database capabilities and assess metadata across organization storage infrastructure
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Market segments for storage and backup software include:
1) By Type: Storage Software, Backup Software
2) By Deployment: Cloud, On-premise
3) By End User: Banking, financial services & insurance (BFSI), Telecommunication, Consumer goods & retail, Media & entertainment, Healthcare & life sciences, Government
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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