iCrowdNewswire Jan 18, 2021 4:33 AM ET
Global Endpoint Backup Market
The global endpoint backup market was valued at US$ 1603.9 Mn and it is expected to reach at US$ 12240.7 Mn by 2027, growing at a CAGR of 24.0% over the forecast period.
Increasing requirement to manage huge number of enterprise and consumer data, increasing requirement for robust backup solutions to protect data from cyber-attacks on endpoints and Rising trend for WFH increases demand for end point solution drives the market.
These solutions protect end users’ critical data in a computing device from attacks and other malicious attempts. Also, the Endpoint backup software secures data with recovery and safe storing options. Automated backup scheduling and clients-side deduplication ensure that data sets have been fully backed up. It helps reduce data risks with minimum downtime and network bandwidth consumption. Remote working endpoint devices, cloud instances, physical servers unstructured file data, or the data in migration, everything can be secured with endpoint backup software’s data recovery & replication capabilities.
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Market Drivers: Increasing requirement for robust backup solutions to protect data from cyber-attacks on endpoints
Increasing requirement for robust backup solutions to protect data from cyber-attacks on endpoints is one of the major driver which is anticipated to boost the global endpoint backup market across the world. This is primarily due to the increasing data breaches and data piracy attacks on the endpoints.
Enterprises always seeks to protect its endpoints and infrastructures against growing cyber threats with multi-layer security strategy including personal firewall, anti-malware, data loss prevention software (DLP) and file encryption. Besides implementing these protection solutions, there is a modest chance of data breaching, which leads to the growing deployment of data protection and backup and disaster recovery across enterprises.
For instance, a recent research study issued by SOPHOS, has stated that around 51% of organizations were hit by ransomware attacks in 2019. Out of which around 56% of the organizations was able to retrieve its data back via backups and 26% by paying the ransom.
Market Challenges: Use of free or pirated endpoint protection solutions
The availability of free antivirus and data backup solutions and their growing popularity usage among end-users is one of the major restraining factor which is hindering the growth of endpoint backup solutions market globally. Due to the availability of free or pirated endpoint backup tools for all major platforms such as Windows and Mac OS, vendors are facing low price value for their backup solutions and are unable to attract more buyers for their solutions both at the global and regional level.
Furthermore, macro, small and medium enterprises have budget constraint due to which they are opting free and open source endpoint solutions to protect and recover their data from external theft and malicious attacks. This is consequently hindering the growth of the endpoint backup solutions market around the globe.
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Market Opportunity: Growing demand for securing IT infrastructure in the media and entertainment vertical
The importance of security is continually increasing with the increasing consumption of digital contents among consumers across the world. This is specifically applicable when it comes to streaming and on-demand media.
Pirates and competitors alike are highly interested in pre-release content for financial gain. Therefore, media and entertainment industries are highly focused on securing their endpoints and server to secure and protect their data from piracy and theft. This is anticipated to provide huge opportunities to the endpoint backup solution market around the globe.
In present era, there are huge amount of digital contents generated to entertain the customers and to broadcast the content, streaming End Users need constant encryption and decryption in real time to ensure content cannot be compromised in transit. Therefore, it leads to the increase in the demand for endpoint protection and backup solutions to protect data from being intruded during transit.
Global Endpoint Backup Market Analysis and Forecast By Type
Based on deployment type, the market is classified into cloud based and on premise type.
Cloud based segment dominates the market. Information Technology spending has been steadily shifting from traditional on-premises to cloud services over the past five years, and it is continuing to grow. There is a high need for replication of data in order to back it up on account of an increase in need for frequent data protection as well as growing data explosion. This has led to a rise in the demand for cloud backup wherein a huge amount of data can be backed up to a remote cloud-based server. Small-medium enterprises are typically more agile than large companies with heavier investment in on-premise technology.
Global Endpoint Backup Market Analysis and Forecast By End User
The Global Endpoint Backup Market Analysis and Forecast By End User is categorized into personal and Enterprise.
Enterprise segment has been accounted for more than 85% market share in 2020. The demand for endpoint backup is driven by many factors, such as huge volumes of data generation, lower costs and greater efficiency than on-premises backup, and growing adoption of SaaS.
In addition, the companies across the globe are adopting work-from-home model and it is important to provide comprehensive backup for SaaS data. SaaS Backup is superior solution to ensure SaaS data is protected. COVID-19 has forced companies to provide work from home model to maintain social distance across global. As the coronavirus pandemic many of companies have started to provide working from home for the foreseeable future, enterprise companies have had to rapidly analyze their infrastructure, technological and security postures, and remote access capabilities. With such an unexpected and rapid transition to remote working for many employees, cloud services, systems, and reliable backup options are important to keep operations as stable as possible at least until the crisis ends. This has created new opportunities for end point back up market
Global Endpoint Backup Market Analysis and Forecast By Region
North America is valued at US$ 789.0 Mn in 2019 and it is expected to reach at US$ 3,885.7 Mn by 2027, growing at a CAGR of 22.6% over forecast period
North America region is the leading region in Cloud Backup market. Europe region is showing a huge growth in the Cloud Backup market. Asia-Pacific countries such as China, Japan and India is anticipated to be the fastest growing region in the Cloud Backup market due to the increasing size of high data generation in many countries.
Presence of strong players across the North America further fuels the market growth. Merger acquisition across region increases competitiveness in the market. For instance, in November 2020, Zix Corporation, technology company headquartered in Dallas, Texas, United States has acquired CloudAlly. The acquisition is aimed to add backup solutions for products including Microsoft Office 365 and Google Workspace to its portfolio.
Market Key Players
Various key players are discussed in this report such as Asigra, Backblaze, Acronis, OwnBackup, Datto, Carbonite, Veritas, StorageCraft, Commvault, Unitrends, Parablu Inc, etc.
Market taxonomy
By Type
- Cloud-Based
- On-premises
By End User
- Personal
- Enterprise
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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