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Backup-as-a-service Market is set to grow at a CAGR of 32% from 2020 to 2025| Evolving Opportunities with Acronis International GmbH and Alphabet Inc.|17000+ Technavio Reports
NEW YORK, Jan. 13, 2022 /PRNewswire/ -- The key factor driving growth in the backup-as-a-service market is the increasing demand to shift from CAPEX to OPEX model. The key benefit of implementing BaaS solutions is the pay-per-use pricing model, i.e., clients have to pay for what they use. BaaS solutions are also flexible in terms of deployment models as cloud services are available in three deployment models: infrastructure-as-a-service (IaaS), platform-as-a-service (PaaS), and SaaS. This allows clients to build their BaaS infrastructure as per business requirements. Industrial clients can select a range of these services depending on their IT budgets and business requirements. There is no fixed upfront cost required (in sharp contrast with on-premises IT infrastructure), which makes BaaS an affordable solution for enterprises. The backup-as-a-service market is expected to increase by USD 14.29 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 32% as per the latest market report by Technavio.
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Frequently Asked Questions:
- Based on segmentation by Application, which is the leading segment in the market?
The backup-as-a-service market share growth by the online backup is the leading segment in the market. - What are the major trends in the market?
The exponential growth in the volume of data is a major trend supporting the backup-as-a-service market share growth. - Who are the top players in the market?
The backup-as-a-service market report also offers information on several market vendors, including Acronis International GmbH, Alphabet Inc., Amazon.com Inc., Cisco Systems Inc., Dell Technologies Inc., Fujitsu Ltd., Microsoft Corp., NetApp Inc., Quantum Corp., and International Business Machines Corp. among others. - How big is the North American market?
37% of the growth will originate from North America for the backup-as-a-service market.
Backup-as-a-service Market 2021-2025: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The backup-as-a-service market report covers the following areas:
Backup-as-a-service Market 2021-2025: Challenge
The possibility of failure during implementation will be a major challenge for the backup-as-a-service market. The chance of failure during the implementation phase makes prospective clients skeptical about BaaS, and they may favor traditional backup solutions such as hard disks. Implementation is not a one-way process; it takes a considerable amount of time to perform various processes such as project management, vulnerability management, compliance, content management, event monitoring, access management, and managing huge servers and databases. These processes are complex and require flawless execution. The complexity of implementation increases the chances of failure, which may direct end-users toward traditional backup solutions.
Backup-as-a-service Market 2021-2025: Revenue Generating Segment
The backup-as-a-service market share growth by the online backup segment will be significant for revenue generation. The cost of online backup solutions makes them favorable for large and medium-sized enterprises and enterprises with critical data. Also, vendors are using 128-bit to 448-bit encryption to transfer the data over unsecured links, which builds trust between enterprises and service providers. This increases the adoption of online backup solutions by large and medium-sized enterprises.
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Backup-as-a-service Market 2021-2025: Segmentation
- Application
- Online Backup
- Cloud Backup
- Geography
- North America
- APAC
- Europe
- South America
- MEA
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Backup-as-a-service Market 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist backup-as-a-service market growth during the next five years
- Estimation of the backup-as-a-service market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the backup-as-a-service market across North America, APAC, Europe, South America, and MEA
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of backup-as-a-service market vendors
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Backup-as-a-service Market Scope
| Report Coverage
| Details
| Page number
| 120
| Base year
| 2020
| Forecast period
| 2021-2025
| Growth momentum & CAGR
| Accelerate at a CAGR of 32%
| Market growth 2021-2025
| USD 14.29 billion
| Market structure
| Fragmented
| YoY growth (%)
| 29.52
| Regional analysis
| North America, APAC, Europe, South America, and MEA
| Performing market contribution
| North America at 37%
| Key consumer countries
| US, China, UK, Germany, and Canada
| Competitive landscape
| Leading companies, competitive strategies, consumer engagement scope
| Companies profiled
| Acronis International GmbH, Alphabet Inc., Amazon.com Inc., Cisco Systems Inc., Dell Technologies Inc., Fujitsu Ltd., Microsoft Corp., NetApp Inc., Quantum Corp., and International Business Machines Corp.
| Market Dynamics
| Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for forecast period,
| Customization purview
| If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
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About Us
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 17,000 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.
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