PUBLISHER: The Business Research Company | PRODUCT CODE: 1675142
PUBLISHER: The Business Research Company | PRODUCT CODE: 1675142
Data backup and recovery pertain to the domain of both onshore and cloud-based technological solutions that empower enterprises to safeguard and preserve their data in adherence to legal and business obligations. This involves creating a duplicate copy of data, storing it securely to mitigate the risk of loss or damage, and subsequently restoring the data to its initial location or a secure backup, enabling its reuse in operational processes.
Data backup and recovery encompass several types, including service backup, media storage backup, and email backup. Services backup involves connecting systems to a private, public, or hybrid cloud managed by an external provider instead of conducting backups through a centralized, on-premises IT department. This method entails contracting an online data backup provider for backup and recovery services. The key components of data backup and recovery include software and services deployed both in the cloud and on-premises. Various industry verticals make use of backup and recovery solutions, including IT and telecommunications, retail, banking, financial services, and insurance, government and the public sector, healthcare, media and entertainment, manufacturing, education, as well as other industry verticals.
The digital agriculture market research report is one of a series of new reports from The Business Research Company that provides digital agriculture market statistics, including digital agriculture industry global market size, regional shares, competitors with a digital agriculture market share, detailed digital agriculture market segments, market trends and opportunities, and any further data you may need to thrive in the digital agriculture industry. This digital agriculture market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The data backup and recovery market size has grown rapidly in recent years. It will grow from $14.95 billion in 2024 to $16.66 billion in 2025 at a compound annual growth rate (CAGR) of 11.5%. The growth in the historic period can be attributed to increasing data volume, rise of virtualization, focus on disaster recovery, data security concerns.
The data backup and recovery market size is expected to see rapid growth in the next few years. It will grow to $29.31 billion in 2029 at a compound annual growth rate (CAGR) of 15.2%. The growth in the forecast period can be attributed to ransomware mitigation, regulatory compliance, continuous data protection. Major trends in the forecast period include early digitalization, integration of AI and machine learning in backup processes, focus on cybersecurity in backup strategies, hyper-converged infrastructure (HCI) for backup.
The growth of the data backup and recovery market is anticipated to be propelled by an increased adoption of cloud data backup. Cloud backup involves storing a duplicate copy of physical or virtual files, databases, or other data in a secondary, off-site location to address potential equipment failures or emergencies. Cloud-based data backup facilitates the storage of data in the cloud, providing accessibility from anywhere at any time, ensuring data safety and easy recoverability. As an illustration, in February 2022, Gartner, a US-based management consulting company, projected that by 2025, 51% of enterprise IT spending in key segments would shift to the cloud, surpassing traditional IT spending. Moreover, global spending on public cloud services is expected to experience substantial growth, reaching $597.3 billion in 2023, a significant increase from $491 billion in 2022. Consequently, the surge in the adoption of cloud data backup serves as a key driver for the growth of the data backup and recovery market.
Growing concerns regarding security and privacy are anticipated to drive the growth of the data backup and recovery market. Security and privacy involve implementing measures and safeguards to protect information, ensuring its confidentiality, integrity, and availability. The expanding data backup and recovery market plays a crucial role in addressing these concerns by offering robust solutions that ensure the protection and rapid retrieval of critical information. For instance, in July 2024, a report from Check Point, an Israel-based software security provider, indicated a global rise in cyber-attacks, with a 30% increase in weekly attacks on corporate networks during Q2 2024 compared to Q2 2023, and a 25% increase from Q1 2024. Organizations experienced an average of 1,636 attacks each week. Consequently, the escalating concern over security and privacy is fueling the growth of the data backup and recovery market.
Technological advancement stands out as a prominent trend gaining traction in the data backup and recovery market. Leading companies in the data backup and recovery sector are actively pursuing innovation through new technologies and research and development efforts, particularly focusing on the adoption of efficient alternatives such as multi-cloud data backup and recovery. This approach involves backing up data across various cloud services from different providers, facilitated by systems designed for multi-cloud data backup and recovery. Such systems routinely duplicate backups from one service to another, storing them for disaster recovery purposes. Ideally, these solutions should enable recovery from multiple sources. For instance, in June 2022, Backblaze, Inc., a US-based cloud storage and data backup company, collaborated with Veritas Technologies LLC to provide multi-cloud data backup and recovery solutions. Users leveraging Backup Exec for synchronizing their data backup and recovery processes can benefit from the combined solution's simplicity, cost-effectiveness, and S3-compatible object storage. Veritas Technologies LLC, a US-based data management company, offers the Backup Exec service, allowing companies to safeguard nearly any data across various storage media, including tape, servers, and the cloud.
Leading companies in the data backup and recovery market are prioritizing product launches, including new data protection services, to meet the growing demand for data security, respond to rising cyber threats, and comply with regulatory requirements. These innovative data protection services utilize advanced technologies and methodologies to efficiently retrieve and restore lost or compromised digital information. For example, in May 2024, Dell Technologies, a US-based technology firm, introduced the PowerProtect Data Domain DD9410 and DD9910 systems, specifically designed for large enterprises. These advanced appliances improve data protection by offering up to 38% faster backups and 44% faster restores, ensuring high performance across various workloads. They also provide enhanced security and cyber resilience against increasing threats, consuming up to 11% less power while achieving industry-leading deduplication rates of 65x. With scalability that supports up to 1.5 PB of usable capacity, these systems present a robust solution for contemporary data protection challenges, enabling organizations to effectively safeguard their data in an increasingly complex cyber environment.
In April 2024, Commvault, a US-based company specializing in data protection and information management, acquired Appranix for an undisclosed amount. This acquisition is intended to strengthen Commvault's cyber resilience and data protection solutions by incorporating Appranix's advanced automation capabilities, which facilitate the rapid rebuilding of critical cloud applications and their dependencies following an outage or cyberattack. Appranix is a US-based cybersecurity firm focused on automating disaster recovery processes and the reconstruction of cloud applications and their dependencies.
Major companies operating in the data backup and recovery market include Dell Technologies Inc., International Business Machines Corporation, Oracle Corporation, Hewlett Packard Enterprise Company, Asigra Inc., NetApp Inc., Micro Focus International plc, Veritas Technologies LLC, Nutanix Inc., Rubrik Inc., Veeam Software AG, Quest Software LLC, Commvault Systems Inc., Barracuda Networks Inc., Acronis International GmbH, Carbonite Inc., Cohesity Inc., Zerto Corporation, Arcserve LLC, Druva Inc., Actifio Inc., StorageCraft Technology Corporation, HYCU Inc., Atempo Inc., Unitrends, Altaro Software Limited, Infrascale Inc., Vembu Technologies Pvt. Ltd., Bacula Systems SA, BackupAssist Software, Axcient
North America was the largest region in the digital agriculture market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the data backup and recovery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the data backup and recovery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The digital agriculture market consists of revenues earned by entities by providing core and peripheral technology for agriculture. 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.
Data Backup And Recovery Global Market Report 2025 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 data backup and recovery 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.
Where is the largest and fastest growing market for data backup and recovery ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The data backup and recovery 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.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.