The global storage and backup software market was valued at about $9.75 billion in 2018. The North American market is the largest market for storage and backup software and is expected to continue to be the largest market during the forecast period.
The storage and backup software market consists of sales of storage and backup software. The software provide users and programmers with a systematic way to create, retrieve, update and manage data. This software allows users to read, update and delete data, which can then be fetched directly and/or through programmatic access.
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The global storage and backup software market is expected to grow to $14.23 billion at a rate of about 9.9% through 2022. 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 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.
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.
Major players in the market are Dell Inc., HPE, NetApp, Hitachi and IBM. NetApp, Inc. is a hybrid cloud data services and data management company headquartered in Sunnyvale, California. It has ranked in the Fortune 500 since 2012. Founded in 1992 with an IPO in 1995, NetApp offers hybrid cloud data services for management of applications and data across cloud and on-premises environments.
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Points From Table Of Contents:
4. Storage And Backup Software Market Segmentation
4.1. Global Storage And Backup Software Market, Segmentation By Type, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
Storage Software
Backup Software
4.2. Global Storage And Backup Software Market, Segmentation By End User, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
Banking, financial services & insurance (BFSI)
Telecommunication
Consumer goods & retail
Media & entertainment
Healthcare & life sciences
Government
4.3. Global Storage And Backup Software Market, Segmentation By Deployment, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
Cloud
On-premise
5. Storage And Backup Software Market Regional And Country Analysis
5.1. Global Storage And Backup Software Market, Split By Region, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
5.2. Global Storage And Backup Software Market, Split By Country, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
6. Asia-Pacific Storage And Backup Software Market
6.1. Asia-Pacific Storage And Backup Software Market Overview
6.2. Asia-Pacific Storage And Backup Software Market, Segmentation By Type, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
6.3. Asia-Pacific Storage And Backup Software Market, Segmentation By End User, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
7. China Storage And Backup Software Market
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