Global Storage And Backup Software Market Trends And Strategies Of Major Players In The Storage And Backup Software Market 2021-2030

The storage and backup software market consists of sales of storage and backup software. The software provides users and programmers with a systematic way to create, retrieve, update and manage data. This software allows users to read, update and delete data, which can then be fetched directly and/or through programmatic access.

Global Storage And Backup Software Market Size And Drivers:

The global storage and backup software market 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%. 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.

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Trends In The Global Storage And Backup Software Market

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.

Global Storage And Backup Software Market Segments:
The global storage and backup software market is further segmented –
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
By Geography: The global storage and backup software market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Storage And Backup Software Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides storage and backup software market overviews, analyzes and forecasts market size and growth for the global storage and backup software market, storage and backup software market share, storage and backup software market players, storage and backup software market segments and geographies, storage and backup software market’s leading competitors’ revenues, profiles and market shares. The storage and backup software market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.