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Backup-as-a-service Market by Application and Geography - Forecast and Analysis 2022-2026

  • Published: Jul 2022
  • Pages: 135
  • SKU: IRTNTR45438
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The backup-as-a-service market share is expected to increase to USD 17.73 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 33.15%.

This backup-as-a-service (BaaS) market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers backup-as-a-service market segmentation by application (online backup and cloud backup) and geography (North America, APAC, Europe, South America, and Middle East and Africa). The BaaS market report also offers information on several market vendors, including Acronis International GmbH, Alphabet Inc., Amazon.com Inc., Arcserve Inc., Cisco Systems Inc., Commvault Systems Inc., Dell Technologies Inc., Fujitsu Ltd., Insight Enterprises Inc., International Business Machines Corp., ITC Ltd., Microsoft Corp., NetApp Inc., NxtGen Datacenter and Cloud Technologies Pvt. Ltd., Proact IT Group AB, Quantum Corp., Rubrik Inc., Veeam Software Group GmbH, and Vembu Technologies Pvt. Ltd. among others.

What will the Backup-as-a-service Market Size be During the Forecast Period?

Backup-as-a-service Market Size

Download the Free Report Sample to Unlock the Backup-as-a-service Market Size for the Forecast Period and Other Important Statistics

 

Backup-as-a-service Market: Key Drivers, Trends, and Challenges

The increasing demand to shift from CAPEX to OPEX model is notably driving the backup-as-a-service market growth, although factors such as the possibilities of failure during implementation may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the backup-as-a-service industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Backup-as-a-service Market Driver

One of the key factors driving growth in the BaaS market is the increasing demand to shift from CAPEX to the OPEX model. The key benefit of implementing BaaS solutions is the pay-per-use pricing model, i.e., clients have to pay for their use. BaaS solutions are also flexible in terms of deployment models as cloud services are available in three deployment models: infrastructure-as-a-service (IaaS), platform-as-a-service (PaaS), and SaaS. This allows clients to build their BaaS infrastructure as per business requirements. Industrial clients can select a range of these services depending on their IT budgets and business requirements. There is no fixed upfront cost required (in sharp contrast with on-premises IT infrastructure), which makes BaaS an affordable solution for enterprises.

Backup-as-a-Service Market Key Trend

Exponential growth in the volume of data is one of the key backup-as-a-service market trends that is expected to impact the industry positively in the forecast period. The exponential increase in the volume of data from smartphones, the Internet, and digital business processes provides enterprises with potential assets that can be used for competitive gain. However, most legacy data centers are not built to handle the massive volume of data generated by the upcoming digital economy and modern mobile applications. As a result, enterprises are not able to protect and manage the data that is at risk. Hence, enterprises must back up their data in BaaS securely. This will help them in preventing losses from natural disasters, power outages, human errors, and malfeasance. It is essential to have a scalable and comprehensive backup solution that is easy to manage as well as flexible and puts the control in the hands of the end-user.

Backup-as-a-Service Market Key Challenge

One of the key challenges to the global backup-as-a-service market growth is the possibility of failure during implementation. The chance of failure during the implementation phase makes prospective clients skeptical about BaaS, and they may favor traditional backup solutions such as hard disks. Implementation is not a one-way process; it takes a considerable amount of time to perform various processes such as project management, vulnerability management, compliance, content management, event monitoring, access management, and managing huge servers and databases. These processes are complex and require flawless execution. The complexity of implementation increases the chances of failure, which may direct end-users toward traditional backup solutions.

This backup-as-a-service market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global BaaS market as a part of the global Internet services and infrastructure market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the backup-as-a-service market during the forecast period.

Who are the Major Backup-as-a-service Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Acronis International GmbH
  • Alphabet Inc.
  • Amazon.com Inc.
  • Arcserve Inc.
  • Cisco Systems Inc.
  • Commvault Systems Inc.
  • Dell Technologies Inc.
  • Fujitsu Ltd.
  • Insight Enterprises Inc.
  • International Business Machines Corp.
  • ITC Ltd.
  • Microsoft Corp.
  • NetApp Inc.
  • NxtGen Datacenter and Cloud Technologies Pvt. Ltd.
  • Proact IT Group AB
  • Quantum Corp.
  • Rubrik Inc.
  • Veeam Software Group GmbH
  • Vembu Technologies Pvt. Ltd.

 

This statistical study of the backup-as-a-service market encompasses successful business strategies deployed by the key vendors. The backup-as-a-service market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Amazon.com Inc. -  In March 2021, the company unveiled the launch of a second full region in Japan, the AWS Asia Pacific (Osaka) Region. The new region consists of three Availability Zones (AZs) and joins the existing 25 Availability Zones in eight AWS Regions across APAC, namely Beijing, Mumbai, Hong Kong, Ningxia, Singapore, Seoul, Sydney, and Tokyo.
  • Alphabet Inc. - In May 2021, the company's subsidiary Google Cloud and CrowdStrike extended their partnership in order to deliver defense-in-depth security, complete visibility, and workload protection at scale across hybrid cloud environments.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The backup-as-a-service market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Backup-as-a-service Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the backup-as-a-service market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Backup-as-a-service Market?

Backup-as-a-service Market Market segmentation by region

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40% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for backup-as-a-service in North America. However, market growth in this region will be slower than the growth of the market in APAC.

The building of a new intelligent economy in the region by interlinking technologies such as cloud solutions, mobility, Big Data, and social media, which is driving the growth of the information and communications technology (ICT) market in the region, will facilitate the backup-as-a-service market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

The building of a new intelligent economy in the region by interlinking technologies such as cloud solutions, mobility, Big Data, and social media, and the growth of the ICT market in the region, will facilitate the backup-as-a-service market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of the COVID-19 pandemic is expected to propel the growth of the market in North America during the forecast period. The vaccination drives started in the US in December 2020, and almost 47.9% of the population has been vaccinated as of July 2, 2021, which has resulted in the lifting of lockdowns and other restrictions. Lockdown norms across various industries multiplied the volume of digital and online transactions in 2020 and 2021, which, in turn, has propelled the demand for cloud backup services. Such factors are expected to drive the market for BaaS significantly in the region during the forecast period.

What are the Revenue-generating Application Segments in the Backup-as-a-service Market?

Backup-as-a-service Market Segmentation

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The backup-as-a-service market share growth by the online backup segment will be significant during the forecast period. The cost of online backup solutions makes them favorable for large and medium-sized enterprises and enterprises with critical data. Also, vendors are using 128-bit to 448-bit encryption to transfer the data over unsecured links, which builds trust between enterprises and service providers. This increases the adoption of online backup solutions by large and medium-sized enterprises.

This report provides an accurate prediction of the contribution of all the segments to the growth of the backup-as-a-service market size and actionable market insights on post COVID-19 impact on each segment.

 

Backup-as-a-service Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 33.15%

Market growth 2022-2026

$ 17.73 billion

Market structure

Fragmented

YoY growth (%)

32.33

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 40%

Key consumer countries

US, Canada, China, UK, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Acronis International GmbH, Alphabet Inc., Amazon.com Inc., Arcserve Inc., Cisco Systems Inc., Commvault Systems Inc., Dell Technologies Inc., Fujitsu Ltd., Insight Enterprises Inc., International Business Machines Corp., ITC Ltd., Microsoft Corp., NetApp Inc., NxtGen Datacenter and Cloud Technologies Pvt. Ltd., Proact IT Group AB, Quantum Corp., Rubrik Inc., Veeam Software Group GmbH, and Vembu Technologies Pvt. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Backup-as-a-service Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive backup-as-a-service market growth during the next five years
  • Precise estimation of the backup-as-a-service market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the backup-as-a-service industry across North America, APAC, Europe, South America, and Middle East and Africa
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of backup-as-a-service market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 24: Chart on Application - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
    • 5.2 Comparison by Application
      • Exhibit 26: Chart on Comparison by Application
      • Exhibit 27: Data Table on Comparison by Application
    • 5.3 Online backup - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Online backup - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Online backup - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Online backup - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Online backup - Year-over-year growth 2021-2026 (%)
    • 5.4 Cloud backup - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Cloud backup - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Cloud backup - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Cloud backup - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Cloud backup - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by Application
      • Exhibit 36: Market opportunity by Application ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 40: Chart on Geographic comparison
      • Exhibit 41: Data Table on Geographic comparison
    • 7.3 North America - Market size and forecast 2021-2026
      • Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.4 APAC - Market size and forecast 2021-2026
      • Exhibit 46: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.5 Europe - Market size and forecast 2021-2026
      • Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 China - Market size and forecast 2021-2026
      • Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.10 UK - Market size and forecast 2021-2026
      • Exhibit 70: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 7.11 Germany - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.12 Canada - Market size and forecast 2021-2026
      • Exhibit 78: Chart on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on Canada - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on Canada - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 82: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 85: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 86: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 87: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 88: Matrix on vendor position and classification
            • 10.3 Acronis International GmbH
              • Exhibit 89: Acronis International GmbH - Overview
              • Exhibit 90: Acronis International GmbH - Product / Service
              • Exhibit 91: Acronis International GmbH - Key offerings
            • 10.4 Alphabet Inc.
              • Exhibit 92: Alphabet Inc. - Overview
              • Exhibit 93: Alphabet Inc. - Business segments
              • Exhibit 94: Alphabet Inc. - Key news
              • Exhibit 95: Alphabet Inc. - Key offerings
              • Exhibit 96: Alphabet Inc. - Segment focus
            • 10.5 Amazon.com Inc.
              • Exhibit 97: Amazon.com Inc. - Overview
              • Exhibit 98: Amazon.com Inc. - Business segments
              • Exhibit 99: Amazon.com Inc. - Key news
              • Exhibit 100: Amazon.com Inc. - Key offerings
              • Exhibit 101: Amazon.com Inc. - Segment focus
            • 10.6 Arcserve Inc.
              • Exhibit 102: Arcserve Inc. - Overview
              • Exhibit 103: Arcserve Inc. - Product / Service
              • Exhibit 104: Arcserve Inc. - Key offerings
            • 10.7 Cisco Systems Inc.
              • Exhibit 105: Cisco Systems Inc. - Overview
              • Exhibit 106: Cisco Systems Inc. - Business segments
              • Exhibit 107: Cisco Systems Inc. - Key news
              • Exhibit 108: Cisco Systems Inc. - Key offerings
              • Exhibit 109: Cisco Systems Inc. - Segment focus
            • 10.8 Commvault Systems Inc.
              • Exhibit 110: Commvault Systems Inc. - Overview
              • Exhibit 111: Commvault Systems Inc. - Product / Service
              • Exhibit 112: Commvault Systems Inc. - Key offerings
            • 10.9 Dell Technologies Inc.
              • Exhibit 113: Dell Technologies Inc. - Overview
              • Exhibit 114: Dell Technologies Inc. - Business segments
              • Exhibit 115: Dell Technologies Inc. - Key news
              • Exhibit 116: Dell Technologies Inc. - Key offerings
              • Exhibit 117: Dell Technologies Inc. - Segment focus
            • 10.10 Fujitsu Ltd.
              • Exhibit 118: Fujitsu Ltd. - Overview
              • Exhibit 119: Fujitsu Ltd. - Business segments
              • Exhibit 120: Fujitsu Ltd. - Key offerings
              • Exhibit 121: Fujitsu Ltd. - Segment focus
            • 10.11 Insight Enterprises Inc.
              • Exhibit 122: Insight Enterprises Inc. - Overview
              • Exhibit 123: Insight Enterprises Inc. - Business segments
              • Exhibit 124: Insight Enterprises Inc. - Key offerings
              • Exhibit 125: Insight Enterprises Inc. - Segment focus
            • 10.12 International Business Machines Corp.
              • Exhibit 126: International Business Machines Corp. - Overview
              • Exhibit 127: International Business Machines Corp. - Business segments
              • Exhibit 128: International Business Machines Corp. - Key offerings
              • Exhibit 129: International Business Machines Corp. - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 130: Inclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 131: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 132: Research methodology
                • Exhibit 133: Validation techniques employed for market sizing
                • Exhibit 134: Information sources
              • 11.5 List of abbreviations
                • Exhibit 135: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Backup-as-a-service Market market growth will increase by $17.73 bn during 2022-2026.
              The backup-as-a-service market market is expected to grow at a CAGR of 33.15% during 2022-2026.
              Technavio has segmented the backup-as-a-service market market by application (online backup and cloud backup) ,geography (North America, APAC, Europe, South America, and Middle East and Africa) , and geographic (North America, APAC, Europe, South America, and MEA).
              Acronis International GmbH, Alphabet Inc., Amazon.com Inc., Arcserve Inc., Cisco Systems Inc., Commvault Systems Inc., Dell Technologies Inc., Fujitsu Ltd., Insight Enterprises Inc., International Business Machines Corp., ITC Ltd., Microsoft Corp., NetApp Inc., NxtGen Datacenter and Cloud Technologies Pvt. Ltd., Proact IT Group AB, Quantum Corp., Rubrik Inc., Veeam Software Group GmbH, Vembu Technologies Pvt. Ltd. are a few of the key vendors in the backup-as-a-service market market.
              North America will register the highest growth rate of 40% among the other regions. Therefore, the backup-as-a-service market market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the backup-as-a-service market market growth are:
              • Increasing demand to shift from CAPEX to OPEX model
              • Exponential growth in the volume of data
              The backup-as-a-service market market vendors should focus on grabbing business opportunities from the online backup segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
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              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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