Global Data Center Backup and Recovery Software Market 2019-2023
Global Data Center Backup and Recovery Software Market: About this market
Enterprises use data center backup and recovery software to replicate and archive data. It also enables data recovery during data center outages. Technavio’s data center backup and recovery software market analysis considers sales from the data center operators, communication services providers, internet content providers, government, financial services providers, and other operator types segments. Our analysis also considers the sales of data center backup and recovery software in APAC, Europe, MEA, North America, and South America. In 2018, the data center operators segment held the highest market share, which is expected to remain prevalent over the forecast period. Factors such as the rising need to ensure data privacy and safety in case of an outage and growing investments in new data center setups in emerging markets will significantly help the market segment in maintaining its leading position. Also, our global data center backup and recovery software report has observed market growth factors such as an exponential increase in data volume, increasing number of data protection and localization regulations, and rising focus on ensuring business continuity. However, ability to manage different data structures, types, and formats; undefined service level agreements; and increasing sophistication levels of cyberattacks may hamper the growth of the data center backup and recovery software industry over the forecast period.
Global Data Center Backup and Recovery Software Market: Overview
Exponential increase in data volume
Enterprises are increasingly undergoing digital transformation, which is augmenting the generation of a large volume of data. For enterprises to manage the expansive data volume, they have started investing in setting up new data centers or expanding the existing ones. As a result, the demand for data center backup and recovery software is increasing. Therefore, the exponential increase in data volume will expand the data center backup and recovery software market at a CAGR of over 4% during the forecast period.
Emergence of AI-based backup and recovery solutions
Vendors are innovating data center backup and recovery software to enhance their functionalities and improve sales. AI-based backup and recovery solutions have benefits in terms of predicting system failure, identifying cyberattacks, and automating backup and recovery processes. Such convenience features have increased the adoption rate of these solutions among enterprises, augmenting sales of vendors. Therefore, this trend will have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global data center backup and recovery software market during the forecast period 2019-2023, click here.
With the presence of several major players, the global data center backup and recovery software market is fragmented. Technavio’s robust vendor analysis is designed to help clients in improving their market positions, and in line with this, this report provides a detailed analysis of several leading data center backup and recovery software manufacturers, which include Commvault Systems Inc., Dell Technologies Inc., IBM Corp., Veeam Software Group GmbH, and Veritas Technologies LLC.
Also, the data center backup and recovery software market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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