Overview and Scope
Storage & backup software is an application used to store data, make duplicate copies of the data to protect it, and make it recoverable in the event of loss, damage, or malware infection.
Sizing and Forecast
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%. The growth in the forecast period can be attributed to hybrid and multi-cloud adoption, ransomware and cybersecurity threats, edge computing, data analytics and ai. Major trends in the forecast period include hybrid and multi-cloud strategies, artificial intelligence and machine learning, software-defined storage (sds), backup as a service (baas) and disaster recovery as a service (draas).
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Segmentation & Regional Insights
The storage and backup software market 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 & insurance (BFSI), Telecommunication, Consumer goods & retail, Media & entertainment, Healthcare & life sciences, Government
Top Major Players:
Dell Inc.
Hewlett Packard Enterprise Company
Netapp Inc.
Hitachi ltd.
Huawei Technologies Co Ltd
Asia-Pacific was the largest region in the storage and backup software market in 2023.
Asia-Pacific was the largest region in the storage and backup software market in 2023. 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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Major Driver Impacting Market Growth
The growing volume of data and the awareness among organizations to backup and protect their data are expected to benefit the storage and backup software market in the forecast period. In addition, the growing adoption of cloud-based technologies, and the need for storage and protection across all enterprises are also driving the growth of the storage and backup software market. For example, it is estimated that more than 72% of global enterprises will shift to cloud storage from on-premise data centers by 2022.
Key Industry Players
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
The storage and backup software market report table of contents includes:
1. Executive Summary
2. Storage And Backup Software Market Characteristics
3. Storage And Backup Software Market Trends And Strategies
4. Storage And Backup Software Market – Macro Economic Scenario
5. Global Storage And Backup Software Market Size and Growth
…
31. Global Storage And Backup Software Market Competitive Benchmarking
32. Global Storage And Backup Software Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Storage And Backup Software Market
34.Storage And Backup Software Market Future Outlook and Potential Analysis
35. Appendix
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