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The Backup-as-a-Service (BaaS) Market size is estimated to grow at a CAGR of 33.99% between 2023 and 2028. The market size is forecast to increase by USD 32.78 billion. The growth of the market depends on several factors, including the increasing need to shift from CAPEX to OPEX model, the growing need to simplify solutions for backup, and the need to comply with regulatory standards. BaaS refers to the modern alternative to traditional data backup services, such as in-house or on-premises data backup solutions. It is a cost-effective backup solution that offers easy data management, integrity checks, and automation of data storage and relocation.
This backup-as-a-service market report extensively covers market segmentation by end-user (large enterprises and SMEs), application (online backup and cloud backup), and geography (North America, APAC, Europe, South America, and the Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 - 2022.
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One of the key factors driving the backup-as-a-service market growth is the increasing need to shift from CAPEX to OPEX model. The transition from the CAPEX to the OPEX model is the key factor fuelling the rapid adoption of backup-as-a-service in several industry verticals. In addition, the main benefit of implementing backup-as-a-service solutions is the pay-per-use pricing model. In other words, clients have to pay for what they use. Backup-as-a-service solutions are also flexible in terms of deployment models, as cloud services are available in three deployment models.
Moreover, the three deployment model includes infrastructure-as-a-service (IaaS), platform-as-a-service (PaaS), and SaaS. In addition, this facilitates clients to build their backup-as-a-service infrastructure as per business requirements. Furthermore, industrial clients can select a range of these services depending on their IT budgets and business requirements. Hence, such factors are positively impacting the backup-as-a-service (BaaS) market. Therefore, it is expected to drive the market growth during the forecast period.
A key factor shaping the backup-as-a-service market growth is the exponential growth in data volumes. The significant rise in the volume of data from smartphones, the Internet, and digital business processes offers enterprises with potential assets that can be used for competitive gain. However, a majority of legacy data centers are not built to handle the massive volume of data that is generated by the upcoming digital economy and modern mobile applications.
Therefore, enterprises are not able to protect and manage the data that is at risk. As a result, it is essential for enterprises to back up their data in backup-as-a-service securely. In addition, this will help them in preventing losses from natural disasters, power outages, human errors, and malfeasance. Hence, such factors are positively impacting the backup-as-a-service market. Therefore, it is expected to drive the market growth during the forecast period.
The possibility of failure during implementation is one of the key challenges hindering the backup-as-a-service market growth. The chance of failure during the implementation phase is one of the main growth inhibitors in the global backup-as-a-service market. In addition, this makes prospective clients skeptical about BaaS, and they may favor traditional backup solutions such as hard disks.
Moreover, implementation is not a one-way process; it takes a considerable amount of time to perform different processes, including project management, vulnerability management, compliance, content management, event monitoring, access management, and managing huge servers and databases. Furthermore, these processes are complex and require flawless execution. Hence, such factors are negatively impacting the backup-as-a-service market. Therefore, it is expected to hinder the market growth during the forecast period.
The large enterprises segment is estimated to witness significant growth during the forecast period. Backup-as-a-service has witnessed increasing demand among large enterprises for different reasons, including the increasing complexity of data management, the need for robust data protection, and the benefits of outsourcing backup operations. In addition, large enterprises typically deal with massive volumes of data that require comprehensive and scalable backup solutions.
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The large enterprises segment was the largest segment and was valued at USD 1.5 billion in 2018. Moreover, backup-as-a-service providers offer the flexibility to accommodate this growth in data generation. In addition, the main advantage of backup-as-a-service solutions is that they can be scaled up easily to meet the backup needs of large and growing enterprises without the hassle of acquiring and managing additional hardware. Hence, such factors are fuelling the growth of this segment, which in turn drives the market growth during the forecast period.
The increase in the adoption of online backup segment by large and medium-sized enterprises will fuel the market growth. This segment is essentially built around the systems of enterprises. In addition, they collect files and compress, encrypt, and transfer them to the servers of remote backup service providers. Moreover, the adoption of online backup solutions prevents catastrophic data loss, which could occur due to file corruption, fires, theft, and other disasters. In addition, several enterprises require high internet bandwidth and a web browser to use online backup solutions. Furthermore, the cost of online backup solutions makes them favorable for large and medium-sized enterprises and enterprises with critical data. Hence, such factors are fuelling the growth of this segment, which in turn drives the market growth during the forecast period.
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North America is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. One of the main factors that are significantly contributing to the growth of the backup-as-a-service market in North America is the building of a new intelligent economy in the region by interlinking technologies such as cloud solutions, mobility, Big Data, and social media. In addition, North America is a world leader in terms of data generation and consumption. Moreover, the increasing adoption of advanced technologies, such as artificial intelligence (AI), machine learning (ML), virtualization, and cloud computing, is resulting in an abundance of use cases for the backup-as-a-service market in North America. Hence, such factors are driving the market growth in North America during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global backup-as-a-service market witnessed significant growth due to the widespread implementation of the work-from-home model, increased adoption of cloud services, and digitization in North America. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the resumption of operations in different industries, such as IT. Such factors are expected to drive the market during the forecast period.
The backup-as-a-service market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Backup-as-a-service Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Acronis International GmbH: The company offers backup-as-a-service such as Acronis cyber protect cloud, and Acronis cloud storage.
Alphabet Inc: The company offers backup-as-a-service, namely Google Cloud, which features Actifio GO, and broad ecosystem.
Amazon.com Inc: The company offers backup-as-a-service, namely AWS Backup, which centralizes data protection across AWS services and hybrid workloads.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The backup-as-a-service market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 - 2028.
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Backup-as-a-service Market Scope |
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Report Coverage |
Details |
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Page number |
170 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 33.99% |
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Market Growth 2024-2028 |
USD 32.78 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
33.41 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Performing market contribution |
North America at 36% |
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Key countries |
US, Canada, China, UK, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Acronis International GmbH, Alphabet Inc., Amazon.com Inc., Broadcom Inc., Cisco Systems Inc., Commvault Systems Inc., Dell Technologies Inc., Fujitsu Ltd., Insight Enterprises Inc., International Business Machines Corp., Microsoft Corp., NetApp Inc., NxtGen Datacenter and Cloud Technologies Pvt. Ltd., Quantum Corp., Rubrik Inc., Veeam Software Group GmbH, Vembu Technologies Pvt. Ltd., Viatel Ireland Ltd., Arcserve USA LLC, and Proact IT Group AB |
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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, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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