Pune, Maharashtra -- (SBWIRE) -- 12/11/2019 -- Storage and Backup Software Market:

Executive Summary

As per the lastest market report, the global storage and backup software market is expected to grow at a substantial CAGR during the forecast period. The growing volume of data as well as the need and awareness among organisations to backup and protect their valuable information is expected to benefit and drive the storage and backup software market during the forecast period. Additionally, the increasing adoption of cloud based technologies and the need for data security is also responsible for driving the growth of the storage and backup software market. For example, it is estimated that a large percentage of global enterprise are expected to make the switch from on-premise data centres to cloud storage in the near future.

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Storage and backup softwares are applications that enable the backup and storage of files, folders, documents, software data, most other types of data as well as the computer or server as a whole. A storage and backup software enables the creation of an exact replica of the original data and files to protect it from cases of file corruption, accidental or intentional deletion of data as well as manmade or natural disasters.

Globally, the rising concerns over data privacy and governance are expected to slightly hinder the growth of the storage and backup software market. Security concerns over the protection of crucial information and private data may limit the storage and backup software market as key players are hesitant about exploring it to its fullest potential. However, there is no denying that organisations all over the world require and would continue to require storage and backup software. With the advent of AI based storage and backup software, that creates information on their own and verifies the source before composing bits of knowledge within a database, storage and backup has become even more efficient and efffective, thus ensuring steady market growth of storage and backup software.

Market Segmentation:

On the basis of type, the storage and backup software market is segmented as storage software and backup software.

On the basis of end user, the storage and backup software market is segmented as banking, financial services and insurance (BFSI), telecommunication, consumer goods and retail, media and entertaiment, healthcare and life sciences and government.

On the basis of deployment, the storage and backup software market is segmented as cloud and on-premise.

Regional Analysis:

Geographically, the storage and backup software market is broadly segmented as Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in these segments include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, United Kingdom and the USA.

The North American segment of the storage and backup software market is currently the largest market in the industry and is expected to continue to be the largest market during the forecast period.

Industry News

In January 2019, Amazon Web Services Corporation acquired Dell-backed Cloud Endure in a million dollar deal. Cloud Endure is an Israel based provider of continuous backup and enterprise-grade business continuity solutions in the storage and backup software market. The acquisition is expected to enhance Amazon's ability to provide innovative and flexible migration of data, backup and disaster recovery solutions.

Continuous…

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