Backup as a Service Market: Global Industry Analysis, Market Size, Share, Trends, Application Analysis and Growth by Forecast to 2018-2023
Dec 7, 2018
Back up as a Service Market, By Storage (On-Premise, On-Cloud), By On-Cloud Sub Segment (Public, Private, Hybrid) - Forecast 2023
Pune, India - December 7, 2018 /MarketersMedia/ —
Market Highlights:
Backup as service refers to storage of data, the service involves purchasing and recovering of data from an online backup service provider. The service offers organization to connect data with the private, public or hybrid cloud managed solution by the outside service provider instead of centralized, on-premise IT department of an enterprise.
The study indicates that the high cost of deploying on-premise solution for disaster recovery is the key driver boosting the backup as a service market. The availability of cloud backup service for virtual machine is one of the few factors driving the market. Integration with the cloud service provider is one of the major factor fueling market growth. According to the study, virtualization has become integral part of IT landscape, and many small and medium enterprises are adopting virtualization on large scale. While there are some restraints that may affect the market growth includes, large dependency of businesses on outsourcing backup services by outside providers, data center performance, compliance issue and improper encryption of data.
The backup as a service market can be segmented on the basis of storage that includes on-premise and cloud. The cloud storage is further segmented into public, private and hybrid. The cloud backup as a service solution enable organization by providing strong IT control in workplace, restrict access to data by cloud service provider staff and unauthorized users,
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Major Key Players
• Commvault (U.S.),
• Emc Dell Inc. (U.S.),
• International Business Machines Corporation (U.S.),
• Symantec Corporation (U.S.),
• Amazon Web Services, Inc. (U.S.),
• Acronis International Gmbh (U.S.),
• Asigra Inc. (Canada),
• Cisco Systems, Inc. (U.S.),
• Fujitsu Ltd. (Japan),
• Google (U.S.),
According to MRFR, The Back Up As A Service Market is expected to grow at approximately USD 5 Billion by 2023, at 28% of CAGR between 2017 and 2023.
Competitive Landscape:
The market is growing intense with several big players continually innovating and integrating them into their systems. However, merger and acquisitions are also playing a crucial role in giving the market thrust. For instance, Cisco Systems, Inc. acquisition of July Systems, Inc., a company that provides cloud-based middleware platform can have an impact on the market expansion. Amazon Web Services in 2017 acquired Harvest.ai, Thinkbox Software, Do.com, Souq,
Industry Trend:
Backup providers are now considering a secondary backup system with more security that would help companies to recover lost data. This idea has been triggered by recent cases of ransomware where the companies have been exploited substantially. Bad Rabbit is one such case that exploited companies with deletion and encryption of backup set.
Altaro’s VM Backup model is an outstanding example of leaders following such notions. Altaro provides round-the-clock service with targeted efficiency and multi-tenant cloud console enabling the management of all customer installations using a central dashboard.
Segments:
By storage segment, back up as a service market consists of on-premise and on-cloud storage of data. The cloud storage solution is further sub-segmented into public, private and hybrid. The major benefit of deploying on-premise storage solution includes data recovery during disaster and security measures such as vaults or locked file cabinet. While there are some restraints which may hamper the growth of on-premise storage solution that includes high cost associated with installation of hardware and software and higher cost associated with hiring professional storage engineers to understand this technology well.
Regional Analysis:
Region-specific segmentation of the BaaS market can be segmented by Asia Pacific (APAC), North America, Europe and Rest-of-the-World (RoW).
North America’s infrastructural superiority has earned it the top post. The region has a great inclination towards technological upgradation which is giving the market a significant boost. Furthermore, the presence of several top-league market influencers in the region is helping the region earn the maximum amount of revenue. Large-scale industrialization with a focus on bettering customer experience can also be considered as a noteworthy factor for the regional BaaS market growth. The APAC, on the other hand, can ensure its position as the fastest growing region of the market. Expanding industrial horizon is one chief factor that is steering the market ahead. At the same time, incorporation of cloud-based appliances and increasing demand for hybrid cloud storage are helping the region to profit much from the market.
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Intended Audience
• Investors and consultants
• System Integrators
• Government Organizations
• Research/Consultancy firms
• Technology solution providers
• IT Solution Providers
LIST OF TABLES
TABLE 1 Backup AS A SERVICE MARKET, BY STORAGE
TABLE 2 Backup AS A SERVICE MARKET, BY REGION
TABLE 3 NORTH AMERICA Backup AS A SERVICE MARKET, BY STORAGE
TABLE 4 U.S. Backup AS A SERVICE MARKET, BY STORAGE
TABLE 5 CANADA Backup AS A SERVICE MARKET, BY STORAGE
TABLE 6 EUROPE Backup AS A SERVICE MARKET, BY STORAGE
TABLE 7 GERMANY Backup AS A SERVICE MARKET, BY STORAGE
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact Info:
Name: abhishek Sawant
Organization: Market Research Future
Phone: +1 646 845 9312
Website: https://www.marketresearchfuture.com/reports/backup-service-market-3252
Source: MarketersMedia
Release ID: 456573
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