[May 21, 2018]

Global Backup-as-a-Service Market to Post a CAGR of Over 27% Through 2022 | Technavio

Technavio market research analysts forecast the global backup-as-a-service market to grow at a CAGR of more than 27% during 2018-2022. The exponential growth in the volume of data is a key trend which is expected to impact the growth of the market. The exponential increase in the volume of data from smartphones, the Internet, and digital business processes provides businesses with potential assets which can be used for competitive gain. However, most legacy data centers are not built to handle such volumes of data, hence, there is a threat to the data. Therefore, enterprises must securely back up their data in BaaS.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180521005596/en/

Technavio has published a new market research report on the global backup-as-a-service market from 2018-2022. (Graphic: Business Wire)

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio's current offers

In this report, Technavio researchers identify the increasing need to shift from CAPEX to OPEX (News - Alert) model as one of the key factors contributing to the growth of the global backup-as-a-service market:

Increasing need to shift from CAPEX to OPEX model

The need to shift from CAPEX to OPEX model is the primary reason driving the rapid adoption of BaaS in several industry verticals. The key benefit of implementing BaaS is the pay-per-use pricing model, i.e. clients pay only for what they use. BaaS solutions are flexible in terms of deployment models as cloud services are available in three deployment models comprising of Infrastructure-as-a-service, platform-as-a-service, and SaaS (News - Alert). This allows clients to build their BaaS as per the requirements of their business.

According to a senior analyst at Technavio for cloud computing research, "Clients can select a range of these services depending on their IT budgets and business requirement. There is no fixed upfront cost which makes BaaS an affordable solution for enterprises."

Looking for more information on this market? Request a free sample report

Technavio's sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Global backup-as-a-service market - segmentation and analysis

This market research report segments the global backup-as-a-service market by application (online backup and cloud backup) and key regions (Americas, APAC, and EMEA).

Based on application, the online back-up segment accounted for close to 51% of the market share in 2017. However, the growing focus of enterprises to store specific data is driving the cloud back-up service which is expected to witness a 4% increase in its market share over the forecast period to surpass the online back-up service by 2022. The diagnostics segment is expected to witness a decline of close to 2% in its market share while the other two segments will see an increase in their market shares over the forecast period.

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at [email protected].

View source version on businesswire.com: https://www.businesswire.com/news/home/20180521005596/en/

[ Back To TMCnet.com's Homepage ]