Backup as a service: Key market research findings
- North America dominates the market geographically
- Online backup accounts for a majority of the market’s revenue
- Key vendors – IBM, Symantec, CommonVault, and Dell
Technavio’s market research analysts predict the global BaaS market to surpass $4 billion by 2020. The growing demand for backup as a service (BaaS) can be accredited to the rise in concerns about data loss issues. Most enterprises fear losing data as such losses can result in serious repercussions like damage to reputation, profit loss, reduced productivity, and missed business opportunities. Effective backup as a service enables IT companies to establish a smooth work environment designed to reduce macro management of IT departments, ensure a work-life balance for employees, and strengthen employment security. North America lead the global BaaS market in 2015 by holding over 42% of the overall market share. The influx of web-based applications that increases the threat of viruses coupled with the availability of cost-effective backup solutions to manage disaster recovery and cloud backup service are some of the factors that will fuel growth in the BaaS market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the BaaS segments based on the product.
“Convergence in cloud backup services and recovery is an upcoming trend in the BaaS market. The convergence of networking, computing, and storage helps in the relocation of enterprise data from physical storage such as tape disk, and local servers to virtual servers that operate in the cloud. Convergence includes software-defined storage, hardware abstraction, networking services, central orchestration, and geo-distributed architecture. This improves the overall efficiency of IT processes, reduces capital uptake and lowers operational costs,” says Amit Sharma, Lead Analyst, ICT, Technavio Research.
During 2015, the online backup segment accounted for around 55% of the total market share to become the key revenue generator in the global BaaS market. Online backup is primarily used to store large volumes of data and offers protection against data losses. It provides large data capacities and is built in vendor premises, unlike cloud backup. Furthermore, organizations can use on-premise software to schedule backup for data on their server and systems. It also allows clients to customize their data and replicate the information on a periodic basis.
The key vendors in the market include IBM, Symantec, CommonVault, and Dell. With a large number of providers, backup-as-service has emerged as one of the fastest growing segments of the cloud market. The major vendors are retaining their regional dominance. Dell and CommonVault lead the market in North America while Symantec and IBM hold strong positions in EMEA and APAC.
A more detailed analysis is available in the Technavio report, Global BaaS Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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