Back Up as a Service Market Is Projected to Reach at USD 5 Billion Till 2023

Pune, India -- (SBWire) -- 03/01/2018 --Market Highlights:

Back up as service refers to storage of data, the service involves purchasing and recovering of data from an online backup service provider. The service offers organization to connect data with the private, public or hybrid cloud managed solution by the outside service provider instead of centralized, on-premise IT department of an enterprise.

The study indicates that the high cost of deploying on-premise solution for disaster recovery is the key driver boosting the back up as a service market. The availability of cloud backup service for virtual machine is one of the few factors driving the market. Integration with the cloud service provider is one of the major factor fueling market growth. According to the study, virtualization has become integral part of IT landscape, and many small and medium enterprises are adopting virtualization on large scale.

By storage segment, cloud solution accounts for largest market share in back up as a service market. This solution has gain growth owing to easy integration with the existing IT infrastructure of an enterprise. While are some major trends boosting the back up as a service market. That includes automatic data recovery and backup, cloud backup for virtual machines and increase implementation of social, mobile, analytics and cloud (SMAC) technology in organization. Cloud back up for virtual machine trend states that virtualization has become significant part of IT infrastructure. This technology enable enterprise with rapid provisioning and optimize utilization of system resources. However, technological challenges have forced organization to implement separate solutions for storing of physical and virtual machines. This technological limitation may affect the back up as a service market.

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Key Players

The prominent players in the back up as a service market are – Commvault (U.S.), Emc Dell Inc. (U.S.), International Business Machines Corporation (U.S.), Symantec Corporation (U.S.), Amazon Web Services, Inc. (U.S.), Acronis International Gmbh (U.S.), Asigra Inc. (Canada), Cisco Systems, Inc. (U.S.), Fujitsu Ltd. (Japan), Google (U.S.), among others.

The Back Up As A Service Market is expected to grow at approximately USD 5 Billion by 2023, at 28% of CAGR between 2017 and 2023.

Regional Analysis:

The regional analysis of back up as a service market is being studied for region such as Asia Pacific, North America, Europe and Rest of the World. North America is one of the leading player in the back up as a service market owing to large adoption of cloud services for enterprise data security and customer information. Asia-Pacific region is expected to be one of the fastest growing because of increased implementation of cloud based appliances and rising demand for hybrid cloud storage.

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Segments:
Back up as a service market is segmented on the basis of storage.

Back up as a Service Market by Storage:
- On-Premise
- On-Cloud
- Public
- Private
- Hybrid

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