The data backup and recovery market is gaining traction due to the rapidly growing data, need for data security and privacy, and focus on operational excellence and data quality management. Increasing adoption of cloud data backup is one of the other factors contributing to the growth of data backup and recovery market. MarketsandMarkets forecasts the global data backup and recovery market size to grow from USD 7.13 Billion in 2017 to USD 11.59 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 10.2% during the forecast period.
Major players in the data backup and recovery market inculude IBM (US), Microsoft (US), Oracle (US), HPE (US), CA Technologies (US), Dell (US), Veritas Technologies (US), Commvault (US), Acronis (US), Netapp (US), Veeam (US), and Unitrends (US). These leading players have adopted various strategies, such as partnerships, collaborations, agreements, mergers, acquisitions, and new product developments, to achieve growth in the global data backup and recovery market.
Microsoft is one of the leading players in the data backup and recovery market. The company has been among the most innovative enterprises in the world and invests significantly in its R&D for new technologies and solutions. Microsoft is working in the field of backup by launching reliable data backup and recovery products and solutions, and by adopting various organic and inorganic growth strategies. For instance, in 2016, Microsoft launched an enhanced version of Azure Site Recovery (ASR) for VMware customers to enable users to backup virtual machines into Azure storage, update, and then run in Azure as a disaster recovery option. In 2015, Microsoft launched Azure Backup Server, which enabled cloud backups and disk backups for SQL and SharePoint.
Commvault is another established vendor in the data backup and recovery market. The company has a strong presence across North America, Asia Pacific (APAC), Middle East and Africa (MEA), Europe, and Latin America. The company focuses on inorganic as well as organic growth strategies to tap opportunities in the data backup and recovery market. For instance, in 2017, Commvault launched endpoint data protection as a service to simplify data recovery on laptops and other devices. It eliminates the need for infrastructure installation or IT management resources. Moreover, it is instrumental in simplifying and streamlining the backup and recovery of data stored on laptops, desktops, and other devices in flexible, easy-to-use SaaS offering.
Data Backup and Recovery Market by Software (Data Replication, Data Reduction, and Data Retention), Application (Email, Application, and Media Storage Backup), Service, Deployment Type, Organization Size, Vertical, and Region - Global Forecast to 2022
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