About Backup-as-a-service
Backup-as-a-service (BaaS) is an approach in which enterprises keep back up of their data to a private, public or hybrid cloud managed by the service provider. The purpose of online backup is to protect the information from getting lost and prevent it from hacking or any other technical problem. Growing cyber threat fueled by stringent government regulations are bolstering the demand of backup as a service.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 26.6% |
key players are focusing on innovative strategy to take the competitive advantage in the market. Recently, in October 2018, Commvault, a global leader in backup launched cloud-ready appliances – the Commvault HyperScale Appliance (model HS3300) and Commvault remote office appliance. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Backup-as-a-service market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Commvault [United States], Dell EMC [United States], IBM [United States], Symantec Corporation [United States], Amazon Web Services, Inc [United States], Acronis International Gmbh [Switzerland], Asigra Inc [Canada], Cisco Systems, Inc [United States], Fujitsu Ltd. [Japan] and Google [United States] are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Alphabet Inc. [United States], NetApp [United States], Barracuda Networks, Inc. [United States], Carbonite, Inc. [United States], Code42 Software, Inc [United States], Datto, Inc [United States], Druva Software [United States], Iron Mountain Incorporated [United States] and Veeam Software [Switzerland].
Segmentation Overview
AMA Research has segmented the market of Global Backup-as-a-service market by , Application (Small Business, Medium-sized Business, Large Business and Others) and Region.
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). North America region held largest market share in the year 2023. If we see Market by Deployment Type, the sub-segment i.e. On-premise will boost the Backup-as-a-service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Use of IoT Application and Growing Adoption of Hybrid Cloud
Market Growth Drivers:
Exponential Growth in Volume of Data, Growing Threat of Cyber-attack and Integration of Back Service with Cloud
Challenges:
Chance of Failure During Implementation, Complexity in Bandwidth Limitation and Cross-platform Backup Issues
Restraints:
Privacy and Security Concern, Lack of Technical Expertise and High Cost of On-premise Storage
Opportunities:
Growing Adoption in Small and Medium Industries and Rising Big Data in Bank, Finance and Insurance Services
Market Leaders and their expansionary development strategies
In October 2023, Veeam Software, the leader in Data Protection and Ransomware Recovery, today announced two new offerings which combine the confidence and reliability of Veeam’s backup and restore capabilities with the ease-of-use of Backup-as-a-Service (BaaS). Cirrus by Veeam, which is available today for Microsoft 365 and Microsoft Azure customers, provides a simple, flexible, reliable and powerful BaaS offering. It gives companies the option of simplifying the management and administration of their backup operations with all the resiliency of Veeam technology.
In October 2021, Commvault, a Nasdaq-listed company, has launched Metallic backup-as-a-service (BaaS) solutions in 30 countries, including India, Hong Kong, Malaysia, and Singapore.
GDPR (General Data Protection Regulation) which went into effect in May 2018 mandates personal data of Europeans citizens must be protected and non-compliance can result in fines up to USD 2.27 million or 4% of annual turnover, whichever is higher.
Key Target Audience
Investors and Consultants, System Integrators, Government Organizations, Research/Consultancy Firms, Technology solution Providers and IT Solution Providers
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.