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Data Backup And Recovery Market Forecast 2025-2034: Comprehensive Analysis And Growth Opportunities
Data Backup And Recovery Market
What Is the Data Backup And Recovery Market Size and Projected Growth Rate?
The size of the data backup and recovery market has been expanding at a swift pace over recent times. It is predicted to rise from its 2024 worth of $14.95 billion to a value of $16.66 billion in 2025, displaying a compound annual growth rate (CAGR) of 11.5%. Factors such as burgeoning data volume, the emergence of virtualization, emphasis on disaster recovery and concerns around data security have all contributed to the growth seen in the historical period.
The market size of data backup and recovery is predicted to witness a swift expansion in the span of the next few years. The market is projected to reach $29.31 billion by 2029, with a compound annual growth rate (CAGR) of 15.2%. The expected advancement in the forecast period could be owed to factors like mitigation of ransomware, regulatory compliance, and continuous data protection. Leading trends during this forecast period encompass early digitalization, the integration of artificial intelligence and machine learning into backup procedures, an emphasis on cyber security within backup strategies, and the use of a hyper-converged infrastructure (HCI) for backup.
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What Are the Major Segments in the Data Backup And Recovery Market?
The data backup and recovery market covered in this report is segmented -
1) By Backup Type: Service Backup, Media Storage Backup, Email Backup
2) By Component: Software, Services
3) By Deployment Type: Cloud, On-Premises
4) By Industry Vertical: IT And Telecommunications, Retail, Banking, Financial Services, And Insurance, Government And Public Sector, Healthcare, Media And Entertainment, Manufacturing, Education, Other Industry Verticals
Subsegments:
1) By Service Backup: Cloud Backup, SaaS Backup, Disaster Recovery As A Service (DRaaS)
2) By Media Storage Backup: Tape Backup, Disk-Based Backup, Optical Backup
3) By Email Backup: Microsoft 365 Backup, G Suite (Google Workspace) Backup, On-Premise Email Backup Solutions
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What Are The Driving Data Backup And Recovery Market Evolution?
The surge in the usage of cloud-based data backup is anticipated to fuel the expansion of the data backup and recovery market. Cloud backup involves maintaining a secondary copy of physical or virtual files, databases, or any data off-site to prepare for equipment troubles or other unforeseen issues. It enables data storage in the cloud which can be accessed any day, at any time, enhancing data security and facilitating effortless recovery. For instance, Gartner, a American management consulting firm, revealed in February 2022 that by 2025, 51% of enterprise IT expenditure in key domains will transition towards cloud, outpacing conventional IT expenditure. Moreover, global public cloud services expenditure is predicted to escalate to $597.3 billion in 2023, a steep rise from $491 billion in 2022. Hence, the accelerated adoption of cloud data backup is driving the advancement of the data backup and recovery market.
Which Firms Dominate The Data Backup And Recovery Market Segments?
Major companies operating in the data backup and recovery market include Dell Technologies Inc., International Business Machines Corporation, Oracle Corporation, Hewlett Packard Enterprise Company, Asigra Inc., NetApp Inc., Micro Focus International plc, Veritas Technologies LLC, Nutanix Inc., Rubrik Inc., Veeam Software AG, Quest Software LLC, Commvault Systems Inc., Barracuda Networks Inc., Acronis International GmbH, Carbonite Inc., Cohesity Inc., Zerto Corporation, Arcserve LLC, Druva Inc., Actifio Inc., StorageCraft Technology Corporation, HYCU Inc., Atempo Inc., Unitrends, Altaro Software Limited, Infrascale Inc., Vembu Technologies Pvt. Ltd., Bacula Systems SA, BackupAssist Software, Axcient
What Trends Are Driving Growth in The Data Backup And Recovery Market?
The emergence of technological advancements is a significant trend observed in the data backup and recovery industry. Prominent players in this domain are continually updating their technology and R&D capabilities to embrace effective alternatives like multi-cloud data backup and recovery. This setup allows data backups to be shared across multiple cloud services offered by various providers. These systems often duplicate backups from one service to another for disaster recovery purposes, ideally enabling recovery from a plethora of sources. Take for instance, Backblaze, Inc., a US company specialising in cloud storage and data backup, which collaborated with Veritas Technologies LLC in June 2022 to provide multi-cloud data backup and recovery services. Customers leveraging Backup Exec for their data backup and recovery processes can benefit from their joint solution's simplistic, affordable, and S3-compatible object storage. Veritas's Backup Exec service empowers companies to protect almost any data on almost any storage platform, be it tape, servers, or cloud. Veritas Technologies LLC is a data management firm based in the US.
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Which Is The Largest Region In The Data Backup And Recovery Market?
North America was the largest region in the data backup and recovery market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the data backup and recovery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Data Backup And Recovery Market?
2. What is the CAGR expected in the Data Backup And Recovery Market?
3. What Are the Key Innovations Transforming the Data Backup And Recovery Industry?
4. Which Region Is Leading the Data Backup And Recovery Market?
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