The global backup-as-a-service
market is expected to grow at a CAGR of 27.04% during
the forecast period. Business processes are being more digitized and data is
growing rapidly across a wide range of sources from desktop to cloud. Due to
rapid adoption of cloud computing and SaaS, data size has almost quadrupled
since the last decade. Decentralization has become a major challenge in
protecting information within a ready accessible format while maintaining a
regulatory compliance.
Backup-as-a-service (BaaS) is an upcoming
technology that enables a broad range of application and data sources ensuring
backup service and data regulatory compliance. Backup-as-a-service market is
driven by increase in computing services, computing infrastructure and rise in
public-private partnership models in the digital space. Rise in technological
start-ups and the need for data backup is likely to supplement the demand for
data backup in the near future. Surge in data recovery options and the need for
cloud-based backup-as-a-service enhances the market growth in the near future.
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By deployment model, market is
segmented as public cloud, private cloud and hybrid cloud. Private cloud
deployment category is likely to dominate the market growth during the forecast
period. By organization size, market is segmented as small enterprises, medium
enterprises and large enterprises. End-user segmentation for
backup-as-a-service market includes healthcare, research & development,
media & entertainment, government and public sectors, banking, financial
and insurance sectors.
Geographically, market is segmented as
North America, South America, Europe, Asia-Pacific, Middle East and Africa.
North America and Asia-Pacific regions dominate the market growth during the
forecast period due to rise in data services and emergence of data models.
Rising focus of organizations to offer better customer support and experience
& technology to have competitive advantage is likely to sustain the market
growth during the forecast period.
Asia-Pacific backup-as-a-service
market registers a higher growth during the estimated period because of rise in
data & telecommunication sector and rise of IT service providers in the
region. Organizational focus on customer experience and technological advantage
is likely to propel the market growth.
The key players in the
backup-as-a-service market report are Commvault, Symantec, IBM Corporation,
Acronis, Dell EMC, Amazon Web Services, Backblaze, Cisco Systems, Fujitsu, CA
Technologies, Datalink Corporation and Intronis.
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