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Data Growth And Cloud Adoption Drive Storage And Backup Software Market: Transformative Forces Shaping the Storage And Backup Software Market Landscape in 2025
Storage And Backup Software
What Is the Expected CAGR for the Storage And Backup Software Market Through 2025?
Over past few years, there has been a significant increase in the size of the storage and backup software market. From $30.61 billion in 2024, the market size is projected to reach $33.34 billion in 2025, experiencing a compound annual growth rate (CAGR) of 8.9%. Factors such as virtualization and cloud computing, modernization of enterprise IT, disaster recovery measures, surge in data generation, and concerns around data security and compliance have contributed to this growth during the historic period.
What's the Projected Size of the Global Storage And Backup Software Market by 2029?
Expectations for the storage and backup software market foresee substantial growth in the years to come. The sector is predicted to reach $46.7 billion by 2029, with a compound annual growth rate (CAGR) of 8.8%. Factors contributing to this growth throughout the projection period include the adoption of hybrid and multi-clouds, cybersecurity and ransomware threats, edge computing, and data analytics and AI. Key trends for the forecast period encapsulate strategies around hybrid and multi-clouds, machine learning, and artificial intelligence, software-defined storage (SDS), backup as a service (BaaS), and disaster recovery as a service (DRaaS).
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Top Growth Drivers in the Storage And Backup Software Industry: What's Accelerating the Market?
The forecasted period is expected to see a potential growth in the storage and backup software market, chiefly due to an increase in data volume and a heightened awareness among organizations about the need to backup and secure their data. Further contributing to this growth is the emerging adoption of cloud-based technologies and the universal demand for storage and protection across all businesses. It is projected, for instance, that over 72% of global enterprises will transition to cloud storage from in-house data centers by 2022.
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What Trends Will Shape the Storage And Backup Software Market Through 2029 and Beyond?
The adoption of artificial intelligence (AI) infused applications is one of the emerging trends in the storage and backup software market, which has the ability to generate, store, and safeguard data. Artificial intelligence is a component of computer science that replicates human intelligence. These AI-driven applications can independently generate information and ascertain its reliability before adding chunks of knowledge into a database. Moreover, they can streamline database management policies, organize data in alignment with database functionalities, and analyze metadata across an organization's storage infrastructure. For example, Commvault, a key player in the storage and backup software industry, has launched a novel backup and recovery software that employs AI. This software enhances efficiency and effectiveness in data backup and recovery by studying user patterns and performance.
What Are the Main Segments in the Storage And Backup Software Market?
The storage and backup softwaremarket covered in this report is segmented -
1) By Type: Storage Software, Backup Software
2) By Deployment: Cloud, On-premise
3) By End User: Banking, Financial Services And insurance (BFSI), Telecommunication, Consumer goods And retail, Media And Entertainment, Healthcare And life Sciences, Government
Subsegments:
1) By Type: Storage Software, Backup Software
2) By Deployment: Cloud, On-Premise
3) By End User: Banking, Financial Services And Insurance (BFSI), Telecommunication, Consumer Goods And Retail, Media And Entertainment, Healthcare And Life Sciences, Government
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Which Top Companies are Driving Growth in the Storage And Backup Software Market?
Major companies operating in the storage and backup software market include 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
Which Regions Will Dominate the Storage And Backup Software Market Through 2029?
Asia-Pacific was the largest region in the storage and backup software market in 2024. North America was the second largest region if the storage and backup software market. The regions covered in the storage and backup software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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