Storage And Backup Software Global Market Report 2024

Description

“Storage And Backup Software Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on storage and backup software market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for storage and backup software? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The storage and backup software market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Type: Storage Software; Backup Software
2) By Deployment: Cloud; On-premise
3) By End User: Banking; financial services & insurance (BFSI); Telecommunication; Consumer goods & retail; Media & entertainment; Healthcare & life sciences; Government
Companies Mentioned: Dell Inc.; Hewlett Packard Enterprise Company; Netapp Inc.; Hitachi ltd.; Huawei Technologies Co Ltd.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Storage and backup software is a class of applications designed for the purpose of storing data, creating duplicate copies of that data to ensure its protection, and enabling its recovery in case of data loss, damage, or malware attacks.

The primary categories of storage and backup software include storage software and backup software. Backup software is specifically designed for creating copies of files, folders, documents, and various data types present on computers or servers. This software can be deployed using both cloud-based and on-premise methods and is utilized by a diverse range of end-users, including those in the banking, financial services and insurance (BFSI) sector, telecommunications, consumer goods and retail, media and entertainment, healthcare and life sciences, as well as government organizations.

The storage and backup software market research report is one of a series of new reports from The Business Research Company that provides storage and backup software market statistics, including storage and backup software industry global market size, regional shares, competitors with storage and backup software market share, detailed storage and backup software market segments, market trends and opportunities, and any further data you may need to thrive in the storage and backup software industry. This storage and backup software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The storage and backup software market size has grown strongly in recent years. It will grow from $19.13 billion in 2023 to $20.49 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The expansion observed during the historical period can be attributed to factors such as the adoption of virtualization and cloud computing technologies, enterprise IT modernization initiatives, the emphasis on disaster recovery solutions, the rapid growth of data volume, and the increasing focus on data security and compliance measures.

The storage and backup software market size is expected to see strong growth in the next few years. It will grow to $28.79 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The anticipated growth in the forecast period can be attributed to the increasing adoption of hybrid and multi-cloud solutions, the rising concerns regarding ransomware and cybersecurity threats, the growth of edge computing, and the expanding applications of data analytics and artificial intelligence. Notable trends expected during the forecast period encompass the continued implementation of hybrid and multi-cloud strategies, the integration of artificial intelligence and machine learning, the utilization of software-defined storage (SDS), and the uptake of backup as a service (BaaS) and disaster recovery as a service (DRaaS) solutions.

The storage and backup software market is expected to benefit from the increasing volume of data and heightened awareness among organizations regarding the need to back up and safeguard their data. Furthermore, the growing adoption of cloud-based technologies and the demand for storage and data protection across enterprises are driving the market's growth. It is estimated that over 72% of global enterprises will transition from on-premise data centers to cloud storage by 2022.

The rising adoption of cloud-based technologies is anticipated to propel the storage and backup software market in the foreseeable future. Cloud-based technologies provide computing resources and services over the internet, typically on a subscription or pay-as-you-go basis. Efficient data management, data protection, and disaster recovery solutions are essential in the context of cloud-based technologies. Cloud services offer scalability, cost-effectiveness, and automation, addressing the increasing need for data security and regulatory compliance. For example, in December 2021, Eurostat reported that 41% of EU enterprises utilized cloud computing, with a focus on hosting e-mail systems and storing electronic files, representing a 5-percentage point increase from 2020. Large EU businesses adopted cloud computing at a rate of 72% in 2021, marking a 7-percentage point increase from 2020.

Concerns about data privacy and governance are expected to restrain the growth of the storage and backup software market. Security issues, such as data protection and governance, stemming from threats like hacking and espionage, hinder the widespread deployment of cloud storage and related software for storage and backup. Industries like BFSI, healthcare, and retail exhibit reluctance to invest in the market due to these security concerns, limiting its growth potential.

An emerging trend in the storage and backup software market is the adoption of artificial intelligence (AI) applications that can generate, store, and protect data. AI-based applications possess the capability to independently create and verify the source of information before adding knowledge to a database. They also help refine database management policies, align data with database capabilities, and assess metadata across organizational storage infrastructure. For instance, a major vendor in the storage and backup software field, Commvault, introduced new backup and recovery software integrated with AI. This software enhances the efficiency and effectiveness of data backup and recovery by analyzing patterns and performance.

Leading companies in the storage and backup software market are developing hybrid and multi-cloud solutions for storage to gain a competitive advantage. Hybrid and multi-cloud strategies involve utilizing multiple cloud environments to meet an organization's computing and data storage requirements. For example, in November 2022, NetApp, Inc. launched BlueXP, a unified control plane designed for data storage and services in hybrid and multi-cloud environments. BlueXP streamlines operations and addresses the complexities of distributed IT and data management by offering unified storage management, integrated intelligence, and centralized management of flexible consumption models.

In September 2021, Hewlett Packard Enterprise acquired Zerto for $374 million, enhancing its data protection and management capabilities. This acquisition expanded Hewlett Packard Enterprise's portfolio and positioned the company to better serve evolving data-centric needs while driving recurring revenue. Zerto specializes in cloud data management and protection solutions, including disaster recovery and data mobility services for diverse cloud environments.

Major companies operating in the storage and backup software market include Dell Inc., Hewlett Packard Enterprise Company, Netapp Inc., Hitachi ltd., Huawei Technologies Co Ltd., International Business Machines Corporation, Toshiba Corporation, Pure Storage Inc., Nutanix Inc., Micron Technology Inc., Tintri Inc., Quest Software Inc., Cloudian Inc., Vembu Technologies Pvt Ltd., Quantum Corporation, OwnBackup, Samsung Electronics Co Ltd., Fujitsu Ltd., Vmware Inc., Cohesity Inc., Nexenta, Netgear Inc., Inspur Group, Oracle Corporation, Acronis International GmbH, Commvault, CA Technologies Inc., Syspro Technologies, Brightpearl Limited, CloudAlly

Asia-Pacific was the largest region in the storage and backup software market in 2023. North America was the second largest region if the storage and backup software market. The regions covered in the storage and backup software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the storage and backup software market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada

The storage and backup software market includes revenues earned by entities by developing and distributing software, which 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. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r9244

1. Executive Summary

2. Storage And Backup Software Market Characteristics

3. Storage And Backup Software Market Trends And Strategies

4. Storage And Backup Software Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Storage And Backup Software Market Size and Growth

5.1. Global Storage And Backup Software Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Storage And Backup Software Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Storage And Backup Software Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Storage And Backup Software Market Segmentation

6.1. Global Storage And Backup Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Storage Software
Backup Software
6.2. Global Storage And Backup Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Cloud
On-premise
6.3. Global Storage And Backup Software Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Banking, Financial Services, and Insurance (BFSI)
Telecommunication
Consumer Goods and Retail
Media and Entertainment
Healthcare and Life Sciences
Government

7. Storage And Backup Software Market Regional And Country Analysis

7.1. Global Storage And Backup Software Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Storage And Backup Software Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Storage And Backup Software Market

8.1. Asia-Pacific Storage And Backup Software Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Storage And Backup Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Storage And Backup Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Storage And Backup Software Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Storage And Backup Software Market

9.1. China Storage And Backup Software Market Overview
9.2. China Storage And Backup Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Storage And Backup Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Storage And Backup Software Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Storage And Backup Software Market

10.1. India Storage And Backup Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Storage And Backup Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Storage And Backup Software Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Storage And Backup Software Market

11.1. Japan Storage And Backup Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.2. Japan Storage And Backup Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Storage And Backup Software Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Storage And Backup Software Market

12.1. Australia Storage And Backup Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Storage And Backup Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Storage And Backup Software Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Storage And Backup Software Market

13.1. Indonesia Storage And Backup Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Storage And Backup Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Storage And Backup Software Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Storage And Backup Software Market

14.1. South Korea Storage And Backup Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.2. South Korea Storage And Backup Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Storage And Backup Software Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Storage And Backup Software Market

15.1. Western Europe Storage And Backup Software Market Overview
15.2. Western Europe Storage And Backup Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Storage And Backup Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Storage And Backup Software Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Storage And Backup Software Market

16.1. UK Storage And Backup Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Storage And Backup Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Storage And Backup Software Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Storage And Backup Software Market

17.1. Germany Storage And Backup Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Storage And Backup Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Storage And Backup Software Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Storage And Backup Software Market

18.5. France Storage And Backup Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.6. France Storage And Backup Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.7. France Storage And Backup Software Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Storage And Backup Software Market

19.9. Italy Storage And Backup Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.10. Italy Storage And Backup Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.11. Italy Storage And Backup Software Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Storage And Backup Software Market

20.13. Spain Storage And Backup Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.14. Spain Storage And Backup Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.15. Spain Storage And Backup Software Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Storage And Backup Software Market

21.1. Eastern Europe Storage And Backup Software Market Overview
21.2. Eastern Europe Storage And Backup Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Storage And Backup Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Storage And Backup Software Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Storage And Backup Software Market

22.1. Russia Storage And Backup Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Storage And Backup Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Storage And Backup Software Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Storage And Backup Software Market

23.1. North America Storage And Backup Software Market Overview
23.2. North America Storage And Backup Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Storage And Backup Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Storage And Backup Software Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Storage And Backup Software Market

24.1. USA Storage And Backup Software Market Overview
24.2. USA Storage And Backup Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Storage And Backup Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Storage And Backup Software Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Storage And Backup Software Market

25.1. Canada Storage And Backup Software Market Overview
25.2. Canada Storage And Backup Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Storage And Backup Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Storage And Backup Software Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Storage And Backup Software Market

26.1. South America Storage And Backup Software Market Overview
26.2. South America Storage And Backup Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Storage And Backup Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Storage And Backup Software Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Storage And Backup Software Market

27.1. Brazil Storage And Backup Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Storage And Backup Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Storage And Backup Software Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Storage And Backup Software Market

28.1. Middle East Storage And Backup Software Market Overview
28.2. Middle East Storage And Backup Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Storage And Backup Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Storage And Backup Software Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Storage And Backup Software Market

29.1. Africa Storage And Backup Software Market Overview
29.2. Africa Storage And Backup Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Storage And Backup Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Storage And Backup Software Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Storage And Backup Software Market Competitive Landscape And Company Profiles

30.1. Storage And Backup Software Market Competitive Landscape
30.2. Storage And Backup Software Market Company Profiles
- 30.2.1. Dell Inc.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Hewlett Packard Enterprise Company
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Netapp Inc.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Hitachi ltd.
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Huawei Technologies Co Ltd
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Storage And Backup Software Market Competitive Benchmarking

32. Global Storage And Backup Software Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Storage And Backup Software Market

34. Storage And Backup Software Market Future Outlook and Potential Analysis

34.1 Storage And Backup Software Market In 2028 - Countries Offering Most New Opportunities
34.2 Storage And Backup Software Market In 2028 - Segments Offering Most New Opportunities
34.3 Storage And Backup Software Market In 2028 - Growth Strategies
34.3.1 Market Trend Based Strategies
34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer