Press release
Data Backup and Recovery Market Set for Major Expansion, Projected to Hit $25.63 Billion by 2030
Data Backup and Recovery Market
The processes of creating and maintaining data copies that might be utilized to protect organizations against data loss are referred to as backup and recovery. Sometimes this is referred to as system restoration. Recovering data from a backup typically means moving the data back to where it was before it was damaged or lost, or to another location where it can be used in its place. An excellent backup copy of the data is stored on a separate system or medium, such tape, away from the original data, to protect against data loss resulting from primary hardware or software failure.
๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐๐ฌ๐ญ๐ข๐ฆ๐๐ญ๐:
Data Backup and Recovery Market size was valued at US$ 12.90 Bn. in 2023 and the total Data Backup and Recovery revenue is expected to grow by 10.3% from 2024 to 2030, reaching nearly US$ 25.63 Bn.
๐๐ฅ๐ข๐๐ค ๐๐๐ซ๐ ๐๐จ ๐๐๐ญ ๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐ง๐ ๐๐๐๐ซ๐ง ๐๐จ๐ซ๐: https://www.maximizemarketresearch.com/request-sample/875/
๐๐ฎ๐๐ฎ ๐๐ฎ๐ฐ๐ธ๐๐ฝ ๐ฎ๐ป๐ฑ ๐ฅ๐ฒ๐ฐ๐ผ๐๐ฒ๐ฟ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ป๐ฎ๐บ๐ถ๐ฐ๐
The competitive advantages of robust data backup and recovery solutions are a major driver of market growth. Businesses invest heavily in data creation and management, making data integrity crucial. Data loss can lead to dissatisfied customers, lost revenue, and even business insolvency. Statistics show that over 90% of organizations without a disaster recovery plan that experience a major disaster fail within a year. Effective backup software not only saves time but also helps maintain a competitive edge.
However, the limitations of current technologies, such as cloud backup, pose challenges. Cloud backup requires robust internet connectivity and sufficient bandwidth, and full data recovery can be time-consuming, straining local systems. Additionally, security concerns and stringent data protection regulations remain significant hurdles.
๐ฆ๐ฒ๐ฐ๐๐ผ๐ฟ ๐๐ป๐๐ถ๐ด๐ต๐๐ ๐ฎ๐ป๐ฑ ๐ข๐ฝ๐ฝ๐ผ๐ฟ๐๐๐ป๐ถ๐๐ถ๐ฒ๐
The report delves into various market segments, including component, service, vertical, and region. For example, the Banking, Financial Services, and Insurance (BFSI) sector is expected to grow at a CAGR of 7.3% during the forecast period. Banks, in particular, must maintain stringent data recovery plans (DRPs) and business continuity plans (BCPs) to avoid severe financial losses and regulatory penalties.
Emerging digital trends and increasing online activities offer significant growth opportunities for the data backup and recovery market. Governments in developing economies are supporting electronic infrastructure development, boosting internet connectivity, and driving market growth. Moreover, the growing importance of data security in safeguarding sensitive information underscores the need for advanced backup solutions.
๐๐ฎ๐๐ฎ ๐๐ฎ๐ฐ๐ธ๐๐ฝ ๐ฎ๐ป๐ฑ ๐ฅ๐ฒ๐ฐ๐ผ๐๐ฒ๐ฟ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง
๐ฏ๐ ๐๐ผ๐บ๐ฝ๐ผ๐ป๐ฒ๐ป๐
Software
Services
๐ฏ๐ ๐ฆ๐ฒ๐ฟ๐๐ถ๐ฐ๐ฒ
Professional Services
Managed Services
๐ฏ๐ ๐ฉ๐ฒ๐ฟ๐๐ถ๐ฐ๐ฎ๐น
BFSI
IT and Telecommunications
Retail
Government and Public Sector
Healthcare
Media and Entertainment
Manufacturing
Others
Over the projected period, Vertical projects that the BFSI segment will expand at a compound annual growth rate (CAGR) of 7.3%.
When there is a data crisis, the performance of the bank depends on keeping consistent procedures both during and after the event. Every minute that these companies' networks are unavailable, they are losing not only money but also the trust and confidence of their clientele. The expensive damage brought on by hacks, lost data, and clientele leaving will consequently force many affected organizations to permanently close. Banks need to create a Business Continuity Plan (BCP) that outlines the procedures and systems the company will use in the event of a low-profile, digital, or environmental disaster in order to prevent this.
๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐๐๐๐ข๐ญ๐ข๐จ๐ง๐๐ฅ ๐๐๐ญ๐๐ข๐ฅ๐ฌ ๐๐ฒ ๐๐ฅ๐ข๐๐ค๐ข๐ง๐ ๐ญ๐ก๐ ๐ฅ๐ข๐ง๐ค ๐ฉ๐ซ๐จ๐ฏ๐ข๐๐๐: https://www.maximizemarketresearch.com/request-sample/875/
๐๐ฎ๐๐ฎ ๐๐ฎ๐ฐ๐ธ๐๐ฝ ๐ฎ๐ป๐ฑ ๐ฅ๐ฒ๐ฐ๐ผ๐๐ฒ๐ฟ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐จ๐ซ ๐๐๐ฆ๐๐ง๐ ๐ข๐ง ๐ฐ๐ก๐ข๐๐ก ๐ซ๐๐ ๐ข๐จ๐ง๐ฌ
North America is projected to lead the Data Backup and Recovery market by 2030. The region's widespread adoption of data recovery software across various industries and stringent cybersecurity standards contribute to its dominance. For instance, the Federal Financial Institutions Examination Council in the United States mandates that financial institutions have comprehensive DRPs and BCPs to mitigate large-scale losses following disasters or data breaches.
๐๐ผ๐บ๐ฝ๐ฒ๐๐ถ๐๐ถ๐๐ฒ ๐๐ฎ๐ป๐ฑ๐๐ฐ๐ฎ๐ฝ๐ฒ ๐ฎ๐ป๐ฑ ๐ฆ๐๐ฟ๐ฎ๐๐ฒ๐ด๐ถ๐ฐ ๐๐ฒ๐๐ฒ๐น๐ผ๐ฝ๐บ๐ฒ๐ป๐๐
The market is witnessing both organic and inorganic growth strategies, with companies focusing on product launches, approvals, and service enhancements. These strategies aim to provide competitive advantages and attract potential clients. For instance, new advancements in disaster recovery technologies are redefining business continuity planning, emphasizing the need for robust and flexible solutions.
๐๐ฎ๐๐ฎ ๐๐ฎ๐ฐ๐ธ๐๐ฝ ๐ฎ๐ป๐ฑ ๐ฅ๐ฒ๐ฐ๐ผ๐๐ฒ๐ฟ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ
1. NetApp, Inc.
2. Rackspace, Inc.
3. Veritas Technologies LLC
4. CommVault Systems Inc.
5. Acronis International GmbH
6. Carbonite Inc.
7. Actifio
8. Unitrends
9. Asigra
10. Redstor Limited
11. Veeam
12. Rubrik
13. Dell Technologies
14. Cohesity
15. IBM
๐๐ฅ๐ข๐๐ค ๐๐๐ซ๐ ๐ญ๐จ ๐๐๐ข๐ง ๐๐๐๐ฉ๐๐ซ ๐๐ง๐๐๐ซ๐ฌ๐ญ๐๐ง๐๐ข๐ง๐ + ๐๐ซ๐๐ฉ๐ก๐ฌ: https://www.maximizemarketresearch.com/market-report/global-data-backup-and-recovery-market/875/
๐๐๐๐ฅ๐ ๐จ๐ ๐๐จ๐ง๐ญ๐๐ง๐ญ:
โข ๐๐ก๐ ๐๐ข๐ ๐๐ข๐๐ญ๐ฎ๐ซ๐: Market size, overview, and key points.
โข ๐๐ฎ๐ซ ๐ ๐จ๐๐ฎ๐ฌ: Specific areas, timeframe, and scope we'll explore.
โข ๐๐๐ซ๐ค๐๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ: Who are the big businesses and up-and-comers?
โข ๐๐๐ซ๐ค๐๐ญ ๐๐ข๐ณ๐: How much money is flowing in this market?
โข ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐๐๐ค๐๐จ๐ฐ๐ง: Different types of products/services and their segments.
โข ๐๐จ๐ฆ๐ฉ๐๐ญ๐ข๐ญ๐ข๐จ๐ง ๐๐ก๐๐๐ค: How easy (or tough) is it to compete in this market?
โข ๐๐ก๐จ'๐ฌ ๐๐ฎ๐ฒ๐ข๐ง๐ ?: Understanding the customer base and their needs.
โข ๐๐ฅ๐จ๐๐๐ฅ ๐๐๐ซ๐ค๐๐ญ: How does this market differ around the world?
โข ๐๐๐๐ข๐ฌ๐ข๐จ๐ง ๐๐ข๐ฆ๐: Making informed choices in this market.
โข ๐๐๐ซ๐ค๐๐ญ ๐๐ก๐ข๐๐ญ๐ฌ: What's driving changes in the market?
โข ๐ ๐ฎ๐ญ๐ฎ๐ซ๐ ๐๐จ๐จ๐ค: Emerging trends that will shape the market.
โข ๐๐ก๐ ๐๐๐ฅ๐ฅ๐๐ซ๐ฌ: Who are the major companies selling in this market?
โข ๐๐จ๐ฆ๐ฉ๐๐ญ๐ข๐ญ๐ข๐จ๐ง ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ: Strengths and weaknesses of the key players.
๐๐๐ฒ ๐ช๐ฎ๐๐ฌ๐ญ๐ข๐จ๐ง๐ฌ ๐๐ง๐ฌ๐ฐ๐๐ซ๐๐ ๐ข๐ง ๐ญ๐ก๐ ๐๐ฎ๐๐ฎ ๐๐ฎ๐ฐ๐ธ๐๐ฝ ๐ฎ๐ป๐ฑ ๐ฅ๐ฒ๐ฐ๐ผ๐๐ฒ๐ฟ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐:
What is Data Backup and Recovery?
What will be the CAGR at which the Data Backup and Recovery market will grow?
What is the growth rate of the Data Backup and Recovery Market?
Which are the factors expected to drive the Data Backup and Recovery market growth?
What are the different segments of the Data Backup and Recovery Market?
What growth strategies are the players considering to increase their presence in Data Backup and Recovery?
What are the upcoming industry applications and trends for the Data Backup and Recovery Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Data Backup and Recovery Market?
Who are the leading companies and what are their portfolios in Data Backup and Recovery Market?
What segments are covered in the Data Backup and Recovery Market?
๐๐๐ฒ ๐๐๐๐๐ซ๐ข๐ง๐ ๐ฌ:
Past Market Size and Competitive Landscape
Past Pricing and price curve by region
Market Size, Share, Size & Forecast by different segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation - A detailed analysis by segment with their sub-segments and Region
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of Business by Region
Lucrative business opportunities with SWOT analysis
Recommendations
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๐๐ฎ๐ซ ๐๐๐๐ซ๐๐ฌ๐ฌ:
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