Global Backup as a Service Market was valued US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of XX % during forecast period.
Online backup service (BaaS), refers to frequent backup of folders, files, or the entire content of hard disks by service providers to remote secure cloud-based data repositories. One trend affecting this market is the increase in use of IoT. In IoT, huge amounts of data are generated from the interaction of globally located smart organization and smart appliances. Explosion of data generated by IoT devices have created an opportunity to gain new visions into the world. Most of the enterprises, government agencies, and other pioneering businesses are implementing IoT technologies like software, devices, and sensors.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
One driver manipulating this market is the increase in demand to move from CAPEX to OPEX. Move from CAPEX to OPEX model is the main reason driving the rapid adoption of BaaS in numerous industry verticals. Key benefit of executing BaaS solutions is the pay-per-use pricing model where clients have to pay for what they use.
Cloud backup is also called as backup as a service (BaaS), is a method of offsite data storage in which files, folders, or the entire contents of a hard drive are backed up on regular basis by a service vendor to a remote secure cloud-based data repository through the network connection. Purpose of online backup is simple and open, to protect the information, whether it is business data or personal, from the risk of loss related with user error, hacking, or any other kind of technological disaster.
As an alternative of performing backup with a centralized, on-premises IT department, BaaS used to connect systems to a private, public, or hybrid cloud managed by the outside supplier. Backup as a service is at ease to manage than other offsite services. Regardless of worrying about rotating and managing tapes or hard disks at an offsite location, data storage managers can offload maintenance and management to the provider.
Previously, adoption of BaaS was booming in several industry verticals, due to its benefits including flexibility in terms of deployment models, the pay-per-use model, and affordability. Also, with the exponential growth in the volume of data from smartphones, the Internet, and digital business processes, enterprises face problems in managing and protecting the data that is at risk. So that, enterprises are increasingly adopting BaaS model to securely back up the huge volume of data generated by the digital economy. Exponential growth of data will boost the growth of the back up as a service market growth during the forecast period. Cloud backup segment will account for the highest growth in the global BaaS market during the forecast period because of the growth in focus of enterprises to store specific data.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Backup as a Service dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in Backup as a Service.
Scope of Global Backup as a Service:
Global Backup as a Service by Application:
• Online backup
• Cloud backup
Global Backup as a Service by Organization Size:
• Large Enterprises
Global Backup as a Service Geography:
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Key Players Operating in Market Includes:
• Cisco Systems
• Dell EMC
• Amazon Web Services
• CA Technologies
• Datalink Corporation
• Asigra Inc
• International Business Machines Corporation.
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