Backup as a Service Market Scope
Backup as a service is also known as online or cloud data backup that stores data remotely on different types of clouds such as private, public, hybrid, or multiple clouds. Backup as a service is gaining popularity among businesses as it offers disaster recovery, high availability, and enhanced data security. However, backup as a service is becoming a new normal among small and medium-sized businesses due to the significant inclination towards digital transformation and increasing cyberattacks and data loss issues. The Backup as a Service market holds immense potential for continued growth thanks to the strong driving forces and promising strategies. By addressing the existing challenges and continuously innovating, BaaS providers can play a vital role in helping businesses securely protect their valuable data in the ever-evolving digital landscape.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Acronis (Switzerland), Barracuda Networks (United States), Carbonite, Inc. (United States), Mozy (Dell EMC) (United States), SOS Online Backup (United States), Vembu Technologies (United States), Clumio Inc. (United States), Commvault (United States), NetApp (United States) and CloudWave (United States) |
CAGR | % |
The backup as a service market is highly fragmented due to the availability of a large number of vendors in the global market. More and more players are introducing services with new and innovative features to deliver enhanced services to their customers. The increasing number of vendors is expected to enter the backup as a service market and enhance market competition during the forecasted period. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Backup as a Service market throughout the predicted period.
Acronis (Switzerland), Barracuda Networks (United States), Carbonite, Inc. (United States), Mozy (Dell EMC) (United States), SOS Online Backup (United States), Vembu Technologies (United States), Clumio Inc. (United States), Commvault (United States), NetApp (United States) and CloudWave (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Cohesity (United States), NxtGen Datacenter & Cloud Technologies (Singapore), Rubrik (United States) and Veeam (Switzerland).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Backup as a Service market by Type and Region with country level break-up.
On the basis of geography, the market of Backup as a Service has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In October 2023, Ctera and Zerto partnered to integrate Ctera's cloud file storage platform with Zerto's cloud data protection solutions, offering enterprises a highly scalable and secure data protection platform.
In March 2022, CloudWave launched its new OpSus Vault Backup as a Service offering for Healthcare organizations. OpSus Vault is a secure enterprise cloud service that will protect healthcare organizations’ valuable data from ransomware and other malicious threats by offering offline and immutable storage locations.
Influencing Trend:
Growing Popularity of Hybrid Multicloud Approach by the Large Size Businesses Due to Competitive Pricing and Reduced Vulnerability of Single Cloud Approach
Market Growth Drivers:
Growing Demand for Backup as a Service Among the Businesses to Protect Data Against Ransomware Attacks, Disasters, or Other Problems and Preference Towards the Full Data Backup Among the Enterprises Who Have Less Amount of Data
Challenges:
Some Types of Data backups are Takes Too Much Time to Restore As Well As Bigger Storage Space
Restraints:
Lack of Internet Connectivity and Bandwidth Issues May Hamper the Growth
Opportunities:
Increased Demand for Backup as a Service from Small and Medium Enterprises Due to Concern About Data Loss and No Requirement of Upfront Infrastructure Cost or Any Skills
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Backup as a Service Providers, Venture Capitalists and Private Equity Firms, End-User Industries and Others