Market Highlights: —
Backup as a service (Baas) is a resultant product of increasing data transfer and demand for quick access to information. The market has become lucrative as companies are giving serious thoughts to storing and securing of their data. This unconventional procedure provides relatively easier accessibility and safer medium to store valuable data. Online portals and cloud computing servers play a significant role in shaping up this entire industry. The global backup as a service market can witness an extraordinary CAGR of 28% to scale a market valuation of USD 5 billion during the forecast period (2017-2023).
Market Research Future’s (MRFR) report on the same market includes chief drivers and segmental analysis that can deliver a holistic view of the global market. The entire method is cost-effective as it curbs the use of compact disks, tapes and hard drives which is making a backup as a service as a market favorite. At the same time, it requires no expertise and a simple backup model that suits the purpose can solve the problem.
However, a data breach is a threat that persists, and with increasing cases of cybercrime, this is something that many companies would consider before taking such a leap. But the impact of digitalization would not let the BaaS market halt for long and will ensure further growth during the forecast period.
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Major Key Players
• 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.),
According to MRFR, The BackUp As A Service Market is expected to grow at approximately USD 5 Billion by 2023, at 28% of CAGR between 2017 and 2023.
Backup providers are now considering a secondary backup system with more security that would help companies to recover lost data. This idea has been triggered by recent cases of ransomware where the companies have been exploited substantially. Bad Rabbit is one such case that exploited companies with deletion and encryption of backup set.
Altaro’s VM Backup model is an outstanding example of leaders following such notions. Altaro provides round-the-clock service with targeted efficiency and multi-tenant cloud console enabling the management of all customer installations using a central dashboard.
The market is growing intense with several big players continually innovating and integrating them into their systems. However, merger and acquisitions are also playing a crucial role in giving the market thrust. For instance, Cisco Systems, Inc. acquisition of July Systems, Inc., a company that provides cloud-based middleware platform can have an impact on the market expansion. Amazon Web Services in 2017 acquired Harvest.ai, Thinkbox Software, Do.com, Souq,
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.
Region-specific segmentation of the BaaS market can be segmented by Asia Pacific (APAC), North America, Europe and Rest-of-the-World (RoW).
North America’s infrastructural superiority has earned it the top post. The region has a great inclination towards technological upgradation which is giving the market a significant boost. Furthermore, the presence of several top-league market influencers in the region is helping the region earn the maximum amount of revenue. Large-scale industrialization with a focus on bettering customer experience can also be considered as a noteworthy factor for the regional BaaS market growth. The APAC, on the other hand, can ensure its position as the fastest growing region of the market. Expanding industrial horizon is one chief factor that is steering the market ahead. At the same time, incorporation of cloud-based appliances and increasing demand for hybrid cloud storage are helping the region to profit much from the market.
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• Investors and consultants
• System Integrators
• Government Organizations
• Research/Consultancy firms
• Technology solution providers
• IT Solution Providers
LIST OF TABLES
TABLE 1 Backup AS A SERVICE MARKET, BY STORAGE
TABLE 2 Backup AS A SERVICE MARKET, BY REGION
TABLE 3 NORTH AMERICA Backup AS A SERVICE MARKET, BY STORAGE
TABLE 4 U.S. Backup AS A SERVICE MARKET, BY STORAGE
TABLE 5 CANADA Backup AS A SERVICE MARKET, BY STORAGE
LIST OF FIGURES
FIGURE 1 RESEARCH TYPE
FIGURE 2 Backup AS A SERVICE MARKET: BY STORAGE (%)
FIGURE 3 Backup AS A SERVICE MARKET: BY REGION (%)
FIGURE 4 NORTH AMERICA Backup AS A SERVICE MARKET, BY STORAGE (%)
FIGURE 5 EUROPE Backup AS A SERVICE MARKET, BY STORAGE (%)
FIGURE 6 ASIA-PACIFIC Backup AS A SERVICE MARKET BY STORAGE (%)
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Name: Abhishek Sawant
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Release ID: 505804