Global Data Center Backup and Recovery Software Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global Data Center Backup and Recovery Software Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Backup is the process of saving production data and storing it in its original location or a safe alternative location so that users may need it later. Recovery is the process of retrieving backup data and restoring it to a production system to avoid downtime. Reliable backup and rapid recovery work together to ensure business continuity and business resiliency. Data center backup and recovery software, typically SaaS or cloud-based software, automates and supports this process, allowing organizations to protect and retain their data for business and compliance reasons. Data center backup and recovery software can maximize an organization's uptime and protect them from threats such as cybercrime and natural disasters.

Market Overview:

The latest research study on the global Data Center Backup and Recovery Software market finds that the global Data Center Backup and Recovery Software market reached a value of USD 10968.85 million in 2023. It’s expected that the market will achieve USD 19202.0 million by 2029, exhibiting a CAGR of 9.78% during the forecast period.

Amid global inflationary pressures, governments, businesses and individuals are all facing considerable cybersecurity implications. For governments, inflation affects the ability to attract and retain talent in cybersecurity. In a high-inflation economy, wage shortfalls can lead to brain drain to more stable economies. The lack of professional network security talents will increase the vulnerability of the network system. A depreciation of the national currency may lead to greater reliance on foreign technology and the purchase of lower quality hardware and software, thereby increasing the risk of information security breaches and weaknesses. To help balance budgets and combat the potential impact of a recession, companies are planning to reduce non-essential spending, re-evaluate suppliers or contracts, and slow hiring. Rising energy costs will force enterprises to pay more attention to costs per terabyte of data they store. This highlights the importance of correctly identifying and classifying data. Using automated solutions to separate data saves time. Public cloud pricing continues to rise due to rising costs ranging from energy to labor and component prices. Companies around the world have begun tightening cloud service budgets and developing hybrid cloud strategies. Businesses may be tempted to spend less on cybersecurity due to inflationary pressures. But hackers are also people affected by inflation and the soaring cost of living. Economic burdens around the world may create a younger generation of hackers. Hackers may find it too expensive or time-consuming to attack large and secure organizations. They will increasingly choose to use legacy systems or smaller companies to launch attacks.

Growing data centers

Many industries use IT infrastructure to generate a large amount of data. For this reason, it is necessary to establish a large-scale data center to store and provide high-security services for the generated data. Current sources of massive data generation include increased internet penetration, increased reliance on and spending on cloud technologies by the likes of Google and Microsoft, growth in e-commerce, modernization of big data analytics, use of artificial intelligence, and virtualized servers used for remote control. Data centers have become an essential part of almost every commercial enterprise. The massive growth of generated data has forced several companies to build their own data centers or lease data center space. The rapid growth of artificial intelligence and other modern technologies such as streaming, gaming, and self-driving cars is expected to drive continued strong demand for data centers. Investors are increasingly turning to data center power capacity and renewable energy investments due to their stable, utility-like cash flows and risk-adjusted returns.

Increased cybersecurity risks

The rapid pace of digital transformation has led to an exponential increase in the amount of data generated by businesses. As business becomes more data-centric, the potential impact of data loss or system failure becomes more severe. Demand for data backup and recovery continues to grow due to the permanent shift to hybrid/remote working and the continued proliferation of ransomware. Cyberattacks have become increasingly sophisticated in recent years, capable of impacting a wider range of organizations in increasingly damaging ways. Some common cyber-attacks include malware infections, unauthorized access, data breaches, phishing attacks, vulnerability exploits, and security policy violations. Drivers for increased cyberattacks include increased digitization; growing volume, variety, and velocity of data; increasingly complex code bases; the interconnectedness of devices; increased theft and fraud as financial services move online; hackers, terrorists, and Nation-states alter political activities; cover up other criminal activities. Emerging risk trends include the increased risk of state-sponsored attacks; a changing third-party liability landscape; a shortage of cybersecurity professionals; and cyber governance with increasing ESG scrutiny. Agencies are investing significant resources in developing effective solutions. Governments aim to disrupt adversaries and other state actors, businesses are strengthening cybersecurity measures, academia, and associations are advancing dialogue and collaboration, and technology companies are building sophisticated cybersecurity services. As such, demand for data backup and recovery solutions is driven by an increase in cyber incidents, government investments to mitigate these risks, and increased cyber risk governance and regulation.

Region Overview:

In 2022, the share of the Data Center Backup and Recovery Software market in North America stood at 35.39%.

Company Overview:

The major players operating in the Data Center Backup and Recovery Software market include IBM Corporation, Oracle, Microsoft, Veritas Technologies, LLC , Hewlett Packard Enterprise Development LP, etc. Among which, IBM Corporation ranked top in terms of sales and revenue in 2023.

IBM is a provider of information technology products and services. The company produces and sells system hardware and software, and offers infrastructure, hosting, and consulting services. IBM’s product portfolio includes analytics, artificial intelligence, automation, blockchain, cloud computing, IT infrastructure, IT management, cybersecurity, and software development products. The company also offers services such as cloud, networking, security, technology consulting, application services, business resilience services, and technology support services.

Segmentation Overview:

By type, Data Center Backup segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Data Center Operators segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Data Center Backup and Recovery Software market covered in Chapter 3:

Commvault
Oracle
Dell Inc.
NetApp
IBM Corporation
Veritas Technologies, LLC
Hewlett Packard Enterprise Development LP
Microsoft

In Chapter 4 and Chapter 14.2, on the basis of types, the Data Center Backup and Recovery Software market from 2019 to 2030 is primarily split into:

Data Center Backup
Data Center Recovery

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Data Center Backup and Recovery Software market from 2019 to 2030 covers:

Data Center Operators
Communication Services Providers
Internet Content Providers
Government
Financial Services Providers
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)