Storage And Backup Software Global Market Report 2021: COVID-19 Impact And Recovery

The Business Research Company’s Storage And Backup Software Global Market Report 2021 - COVID-19 Impact And Recovery

LONDON, GREATER LONDON, UK, November 1, 2021 /EINPresswire.com/ -- Growing volume of data and the awareness among organizations to backup and protect their data are expected to benefit the storage and backup software market in the forecast period. In addition, the growing adoption of cloud-based technologies, and the need for storage and protection across all enterprises are also driving the growth of storage and backup software market. For example, it is estimated that more than 72% of global enterprises will shift to cloud storage from on-premise data centers by 2022.

One of the latest trends in the storage and backup software market is the adoption of artificial intelligence (AI) based applications which can create, store and protect data. Artificial intelligence is an area of computer science which simulates human intelligence. AI based applications create information on their own and verify the source of information before composing bits of knowledge to a database. These applications can also refine database management policies, align data to database capabilities and assess metadata across organization storage infrastructure. For instance, Commvault, one of the major vendors in the field of storage and backup software, introduced a new kind of backup and recovery software, which works with AI. This software helps users to keep data backup and recovery more efficient and effective by analyzing their patterns and performance.

The global storage and backup software market size is expected to grow from $11.42 billion in 2020 to $11.89 billion in 2021 at a compound annual growth rate (CAGR) of 4.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $17.25 billion in 2025 at a CAGR of 9.7%.

Read More On The Global Storage And Backup Software Market Report:
https://www.thebusinessresearchcompany.com/report/storage-and-backup-software-global-market-report

Major players covered in the global storage and backup software industry are Dell Inc., HPE, Netapp, Hitachi and IBM.

TBRC’s global storage and backup software market report is segmented by type into storage software, backup software, by end user into banking, financial services & insurance (BFSI), telecommunication, consumer goods & retail, media & entertainment, healthcare & life sciences, government, by deployment into cloud, on-premise.

Storage And Backup Software Global Market Report 2021 - By Type (Storage Software, Backup Software), By End User (Banking, Financial Services & Insurance (BFSI), Telecommunication, Consumer Goods & Retail, Media & Entertainment, Healthcare & Life Sciences, Government), By Deployment (Cloud, On-premise), COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company that provides storage and backup software market overview, forecast storage and backup software market size and growth for the whole market, storage and backup software market segments, and geographies, storage and backup software market trends, storage and backup software market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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