Data Backup And Recovery Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033 |Dell Technologies Inc., International Business Machines Corporation, Oracle Corporation, Hewlett Packard Enterprise Company, Asigra Inc., NetApp Inc.,

As per the report, the data backup and recovery market size has grown rapidly in recent years. It will grow from $13.57 billion in 2023 to $15.28 billion in 2024 at a compound annual growth rate (CAGR) of 12.6%. The data backup and recovery market size is expected to see rapid growth in the next few years. It will grow to $25.23 billion in 2028 at a compound annual growth rate (CAGR) of 13.3%.

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Surge in Cloud Data Backup Adoption Fuels Market Expansion
An increase in the adoption of cloud data backup is expected to propel the growth of the data backup and recovery market. Cloud backup is storing a copy of a physical or virtual file, database, or other data in a secondary, off-site location in case of equipment failure or other emergencies. Cloud-based data backup helps store data in the cloud, which is accessible anywhere and anytime. This helps make the data safe and easily recoverable. For instance, in February 2022, according to Gartner, a US-based management consulting company, In 2025, 51% of enterprise IT spending in key segments will shift to the cloud, surpassing traditional IT spending. Furthermore, global spending on public cloud services is expected to reach $597.3 billion in 2023, reflecting a significant increase from $491 billion in 2022. Therefore, an increase in the adoption of cloud data backup is driving the data backup and recovery market growth.

Rising Trends in Data Backup and Recovery Tech
Technological advancement is a key trend gaining popularity in the data backup and recovery market. Major data backup and recovery companies are advancing in their new technologies and research and development to adopt efficient alternatives such as multi-cloud data backup and recovery. Data can be backed up across many cloud services from different providers using multi-cloud data backup and recovery systems. These systems frequently copy backups from one service to another and store them there for disaster recovery. These solutions ought to allow recovery from many sources, ideally. For instance, in June 2022, Backblaze, Inc., a US-based cloud storage and data backup company, partnered with Veritas Technologies LLC. to offer multi-cloud data backup and recovery. Customers who use Backup Exec to synchronise their data backup and recovery procedures can use their combined solution's simple, inexpensive, and S3-compatible object storage. The Backup Exec service from Veritas enables companies to safeguard almost any data on any storage medium, including tape, servers, and the cloud. Veritas Technologies LLC is a US-based data management company.

The data backup and recovery market covered in this report is segmented -

1) By Backup Type: Service Backup, Media Storage Backup, Email Backup
2) By Component: Software, Services
3) By Deployment Type: Cloud, On-Premises
4) By Industry Vertical: IT And Telecommunications, Retail, Banking, Financial Services, And Insurance, Government And Public Sector, Healthcare, Media And Entertainment, Manufacturing, Education, Other Industry Verticals

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Major companies operating in the data backup and recovery market report are Dell Technologies Inc., International Business Machines Corporation, Oracle Corporation, Hewlett Packard Enterprise Company, Asigra Inc., NetApp Inc., Micro Focus International plc, Veritas Technologies LLC, Nutanix Inc., Rubrik Inc., Veeam Software AG, Quest Software LLC, Commvault Systems Inc., Barracuda Networks Inc., Acronis International GmbH, Carbonite Inc., Cohesity Inc., Zerto Corporation, Arcserve LLC, Druva Inc., Actifio Inc., StorageCraft Technology Corporation, HYCU Inc., Atempo Inc., Unitrends, Altaro Software Limited, Infrascale Inc., Vembu Technologies Pvt. Ltd., Bacula Systems SA, BackupAssist Software, Axcient

Contents of the report:
1. Executive Summary
2. Data Backup And Recovery Market Report Structure
3. Data Backup And Recovery Market Trends And Strategies
4. Data Backup And Recovery Market - Macro Economic Scenario
5. Data Backup And Recovery Market Size And Growth
…..
27. Data Backup And Recovery Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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