LONDON--(BUSINESS WIRE)--The global data center backup and recovery software market is expected to post a CAGR of more than 4% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global data center backup and recovery software market size is the exponential increase in data volume. The growing adoption of connected technologies and digital transformation initiatives is leading to an exponential increase in data volume. Data is generated from multiple touchpoints such as enterprise applications, mobility devices, IoT devices, and radio frequency identification (RFID). A large amount of data is also being generated in the form of web content and online media by individual users. Such exponential growth in data will boost the demand for new data centers and associated solutions and services, such as data center backup and recovery software, during the forecast period.
As per Technavio, the emergence of AI-based backup and recovery solutions will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global data center backup and recovery software market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Data Center Backup and Recovery Software Market: Emergence of AI-based Backup and Recovery Solutions
Artificial Intelligence (AI) is increasingly being incorporated in backup and recovery software, as it provides benefits in terms of identifying cyberattacks, predicting system failure, and automating backup and recovery processes. The use of AI also helps in creating an efficient data protection solution by learning IO patterns, backup pattern, data archiving cycles, and auto-detecting ransomware. Thus, the emergence of AI-based backup and recovery solutions is expected to fuel the growth of the data center backup and recovery software market during the forecast period.
“Apart from the emergence of AI-based backup and recovery solutions, other factors such as partnerships between data center backup and recovery solution providers and HCI solution providers, along with the increasing focus on ensuring business continuity will have a significant impact on the growth of the market during the forecast period,” says a senior analyst at Technavio.
Global Data Center Backup and Recovery Software Market: Segmentation Analysis
This market research report segments the global data center backup and recovery software market worth by operator type (data center operators, communication services providers, Internet content providers, government, financial services providers, and other operator types), and geographic regions (North America, Europe, APAC, South America, and MEA).
The North American region led the data center backup and recovery software market in 2018, followed by Europe, APAC, South America, and MEA respectively. The data center backup and recovery software market analysis report identifies factors such as the increasing number of data centers, and the growing demand for backup and recovery solutions to account for the market dominance of North America during the forecast period.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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