DUBLIN--(BUSINESS WIRE)--The "Storage And Backup Software Global Market Report 2022, By Type, End User" report has been added to ResearchAndMarkets.com's offering.
The global storage and backup software market is expected to grow from $16.09 billion in 2021 to $17.70 billion in 2022 at a compound annual growth rate (CAGR) of 10%. The market is expected to reach $23.97 billion in 2026 at a CAGR of 7.9%.
The storage and backup software market consists of sales of storage and backup software. The software provides 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.
The main types of storage and backup software are storage software and backup software. Backup software allows to backup files, folders, documents, software data, most data types in a computer or server. The software is deployed through cloud and on-premise mode by various end-users such as banking, financial services and insurance (BFSI), telecommunication, consumer goods and retail, media and entertainment, healthcare and life sciences, government.
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.
Rising concerns about data privacy and governance are expected to restrain market growth. Security concerns over protecting information regarding stakeholders and private data caused due to hacking, espionage and other security threats restrict the deployment of cloud storage and other software for storage and backup. These factors invariably limit the storage and backup software market. For example, industries such as BFSI, healthcare, retail, and others are unwilling to invest in the market due to security issues, thus restraining it to grow at its full potential.
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. For instance, Commvault, one of the major vendors in the field of storage and backup software, introduced a new kind of backup and recovery software, which works with AI. This software helps users to keep data backup and recovery more efficient and effective by analyzing their patterns and performance.
The countries covered in the storage and backup software market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Major players in the storage and backup software market are
- Dell Inc.
- HPE
- Netapp
- Hitachi
- IBM
- Huawei
- International Business Machines Corporation
- Toshiba Corporation
- Pure Storage Inc.
- Nutanix Inc.
- Micron Technology
- Tintri Inc.
- Cloudian Inc.
- Quantum Corporation
- Samsung Electronics
- Fujitsu Ltd.
- VMware Inc.
- Nexenta Systems
- Netgear Inc.
- Inspur
- Oracle
- Acronis
- Commvault
- CA Technologies
Key Topics Covered:
1. Executive Summary
2. Storage And Backup Software Market Characteristics
3. Storage And Backup Software Market Trends And Strategies
4. Impact Of COVID-19 On Storage And Backup Software
5. Storage And Backup Software Market Size And Growth
5.1. Global Storage And Backup Software Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Storage And Backup Software Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Storage And Backup Software Market Segmentation
6.1. Global Storage And Backup Software Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Storage Software
- Backup Software
6.2. Global Storage And Backup Software Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Banking
- financial services & insurance (BFSI)
- Telecommunication
- Consumer goods & retail
- Media & entertainment
- Healthcare & life sciences
- Government
6.3. Global Storage And Backup Software Market, Segmentation By Deployment, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Cloud
- On-premise
7. Storage And Backup Software Market Regional And Country Analysis
7.1. Global Storage And Backup Software Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Storage And Backup Software Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
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