According to a new report, published by KBV research, The Global Data Backup and Recovery Market size is expected to reach $27.86 billion by 2031, rising at a market growth of 10.1% CAGR during the forecast period.
The Software segment is poised to grow at a CAGR of 9.4 % during the forecast period. Businesses across various industries increasingly invest in data protection software that offers features such as real-time backups, ransomware protection, and seamless data retrieval. The rising trend of hybrid and multi-cloud storage solutions has fueled demand for advanced backup software as organizations seek scalable, cost-effective, and secure data recovery options.
The Application Backup segment captured the maximum revenue in the Global Data Backup and Recovery Market by Application in 2023, thereby, achieving a market value of $7.6 billion by 2031. The application backup segment is growing due to the increasing reliance on enterprise applications, such as ERP, CRM, HRMS, and database management systems, which require continuous data protection and disaster recovery planning. The shift toward cloud-based SaaS applications has intensified the demand for automated backup, real-time data synchronization, and secure recovery mechanisms to prevent data loss and minimize downtime.
The Large segment is experiencing a CAGR of 10.5 % during the forecast period. Large corporations, particularly in banking, healthcare, retail, and IT industries, handle massive volumes of critical data, making high-end backup and disaster recovery (DR) solutions essential for operations. These organizations invest heavily in cloud-based backup, AI-driven recovery, and hybrid storage architectures to ensure minimal downtime, real-time data replication, and high-level cybersecurity.
The On-Premises segment led the maximum revenue in the Global Data Backup and Recovery Market by Deployment in 2023, thereby, achieving a market value of $16.8 billion by 2031. Industries such as finance, healthcare, and government rely on on-premise backup systems to store highly sensitive and regulated data within their infrastructure. On-premise deployments offer lower latency, customized security configurations, and full ownership of backup infrastructure, making them an attractive choice for organizations with strict data sovereignty and regulatory compliance requirements.
The BFSI segment is growing at a CAGR of 8.2 % during the forecast period. The secure, real-time backup and disaster recovery solutions that financial institutions require are necessary due to the immense amounts of transactional data, customer records, and compliance documentation they deal with. Regulations such as GDPR, PCI DSS, and SOX require organizations to maintain long-term data retention, encryption, and rapid recovery mechanisms to prevent data loss and fraud.
Full Report: https://www.kbvresearch.com/data-backup-and-recovery-market/
The North America region dominated the Global Data Backup and Recovery Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $10.5 billion by 2031. The Europe region is anticipated to grow at a CAGR of 9.6% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 10.8% during (2024 - 2031).
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