What is the current size and annual growth rate of the storage and backup software market?
The storage and backup software market size has grown rapidly in recent years. It will grow from $32.9 billion in 2024 to $37 billion in 2025 at a compound annual growth rate (CAGR) of 12.5%. 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 $53.56 billion in 2029 at a compound annual growth rate (CAGR) of 9.7%. 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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Which major factors have contributed to the expansion of the storage and backup software market?
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.
How is the storage and backup software market segmented?
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 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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Who are the top competitors 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
How will evolving trends contribute to the growth of the storage and backup software market?
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. For instance, Commvault, one of the major vendors in the field of storage and backup software, introduced a new kind of backup and recovery software, which works with AI. This software helps users to keep data backup and recovery more efficient and effective by analyzing their patterns and performance.
Which geographic trends are shaping the storage and backup software market, and which region has the highest market share?
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
What Does The Storage And Backup Software Market Report 2025 Offer?
The storage and backup software market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Storage and 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. These applications allow users to back up files, databases, or entire systems to various storage locations, including external drives, cloud storage, or dedicated backup servers.
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