Market Research Future published a research report on “Back up as a Service Market Research Report- Global Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Market Synopsis of Back up as a Service Market:
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.
The study indicates that the high cost of deploying on-premise solution for disaster recovery is the key driver boosting the back up as a service market. The availability of cloud backup service for virtual machine is one of the few factors driving the market. Integration with the cloud service provider is one of the major factor fueling market growth. According to the study, virtualization has become integral part of IT landscape, and many small and medium enterprises are adopting virtualization on large scale. While there are some restraints that may affect the market growth includes, large dependency of businesses on outsourcing backup services by outside providers, data center performance, compliance issue and improper encryption of data.
The back up as a service market can be segmented on the basis of storage that includes on-premise and cloud. The cloud storage is further segmented into public, private and hybrid. The cloud back up as a service solution enable organization by providing strong IT control in workplace, restrict access to data by cloud service provider staff and unauthorized users, reduces bandwidth requirement, source side-duplication and reduces storage cost. It offers organization with options of initial seeding of backups and delivery of store data through physical disk to reduce initial backup and restore times and ensure efficient flow of on-going backups.
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.
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- 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.
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.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the back up as a service market.
Back up as a service market is segmented on the basis of storage.
Back up as a Service Market by Storage:
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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.
- Investors and consultants
- System Integrators
- Government Organizations
- Research/Consultancy firms
- Technology solution providers
- IT Solution Providers
We are thankful for the support and assistance from Back up as a Service Market Research Report- Global Forecast 2023 chain related technical experts and marketing experts during Research Team survey and interviews.
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