Global Backup-as-a-Service Market to Reach $14.29 Billion by 2025, Driven by Exponential Growth in Data Volume

Strategic Insights -

The global backup-as-a-service market is expected to witness significant growth, fueled by the increasing adoption of smart toys and the shift from capital expenditure to operational expenditure models. According to the latest market research report by Technavio, the market is projected to reach a value of $14.29 billion by 2025, growing at a Compound Annual Growth Rate (CAGR) of over 32% during the forecast period.

The market structure is highly fragmented, with several global and regional vendors competing to maintain their market position. Key vendors in the market include Acronis International GmbH, Alphabet Inc., Amazon.com Inc., Cisco Systems Inc., Dell Technologies Inc., Fujitsu Ltd., Microsoft Corp., NetApp Inc., Quantum Corp., and International Business Machines Corp. These vendors are adopting various growth strategies, such as new product launches, mergers and acquisitions, and partnerships, to stay competitive and expand their reach in the market.

The market is segmented by application, with online backup being the largest segment in 2020 and expected to remain the largest segment by 2025. The growth of the online backup segment is driven by the low cost of online backup services. Regional-wise, North America is leading the market, accounting for 37% of the overall market in 2020 and expected to continue its dominance in the forecast period.

Key Takeaways

  • The global backup-as-a-service market is expected to reach $14.29 billion by 2025, growing at a CAGR of over 32% during the forecast period.
  • The market is highly fragmented, with several global and regional vendors competing to maintain their market position.
  • Online backup is the largest segment in 2020 and expected to remain the largest segment by 2025, driven by the low cost of online backup services.
  • North America is leading the market, accounting for 37% of the overall market in 2020 and expected to continue its dominance in the forecast period.
  • Key vendors in the market include Acronis International GmbH, Alphabet Inc., Amazon.com Inc., Cisco Systems Inc., Dell Technologies Inc., Fujitsu Ltd., Microsoft Corp., NetApp Inc., Quantum Corp., and International Business Machines Corp.
  • The market is driven by the shift from capital expenditure to operational expenditure models and the exponential growth in data volume.

Statistics

  • The global backup-as-a-service market is expected to grow from $2.93 billion in 2020 to $14.29 billion by 2025.
  • The market is expected to grow at a CAGR of over 32% during the forecast period.
  • Online backup is expected to remain the largest segment in the market, accounting for 43% of the market share by 2025.
  • North America is expected to continue its dominance in the market, accounting for 37% of the overall market in 2020 and expected to reach 42% by 2025.

Sources

  • Technavio, "Global Backup-as-a-Service Market Report" (2021)
  • Technavio, "Global Cloud Backup and Recovery Market Report" (2020)
  • Technavio, "Global Data Center Backup and Recovery Software Market Report" (2020)
  • Technavio, "About Us" (2021)