Back up as a Service Market is Growing with balanced pace at 28% of CAGR and expected to reach USD 5 Billion by 2023

“Back up as a Service Market”
Back up as a Service Market, By Storage (On-Premise, On-Cloud), By On-Cloud Sub Segment (Public, Private, Hybrid) – Forecast 2023

Market Highlights:

Back up as service refers to storage of data, the service involves purchasing and recovering of data from an online backup service provider. The service offers organization to connect data with the private, public or hybrid cloud managed solution by the outside service provider instead of centralized, on-premise IT department of an enterprise.

By storage segment, cloud solution accounts for largest market share in back up as a service market. This solution has gain growth owing to easy integration with the existing IT infrastructure of an enterprise. While are some major trends boosting the back up as a service market. That includes automatic data recovery and backup, cloud backup for virtual machines and increase implementation of social, mobile, analytics and cloud (SMAC) technology in organization. Cloud back up for virtual machine trend states that virtualization has become significant part of IT infrastructure. This technology enable enterprise with rapid provisioning and optimize utilization of system resources. However, technological challenges have forced organization to implement separate solutions for storing of physical and virtual machines. This technological limitation may affect the back up as a service market.

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Major Key Players

The prominent players in the back up as a service market are – Commvault (U.S.), Emc Dell Inc. (U.S.), International Business Machines Corporation (U.S.), Symantec Corporation (U.S.), Amazon Web Services, Inc. (U.S.), Acronis International Gmbh (U.S.), Asigra Inc. (Canada), Cisco Systems, Inc. (U.S.), Fujitsu Ltd. (Japan), Google (U.S.), among others.

According to MRFR, The Back Up As A Service Market is expected to grow at approximately USD 5 Billion by 2023, at 28% of CAGR between 2017 and 2023.

Study Objectives of Back up as a Service Market:

To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the back up as a service market.

To provide insights about factors affecting the market growth.

To analyze the back up as a service market based porter’s five force analysis etc.

To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).

To provide country level analysis of the market with respect to the current market size and future prospective.

To provide country level analysis of the market for segment on the basis of storage.

Regional Analysis:

The regional analysis of back up as a service market is being studied for region such as Asia Pacific, North America, Europe and Rest of the World. North America is one of the leading player in the back up as a service market owing to large adoption of cloud services for enterprise data security and customer information. Asia-Pacific region is expected to be one of the fastest growing because of increased implementation of cloud based appliances and rising demand for hybrid cloud storage.

Segments:

By storage segment, back up as a service market consists of on-premise and on-cloud storage of data. The cloud storage solution is further sub-segmented into public, private and hybrid. The major benefit of deploying on-premise storage solution includes data recovery during disaster and security measures such as vaults or locked file cabinet. While there are some restraints which may hamper the growth of on-premise storage solution that includes high cost associated with installation of hardware and software and higher cost associated with hiring professional storage engineers to understand this technology well.

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Intended Audience

  • Investors and consultants
  • System Integrators
  • Government Organizations
  • Research/Consultancy firms
  • Technology solution providers
  • IT Solution Providers

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