Global SaaS Backup Market Size, Trends & Growth Opportunity, By Type, By ApplicaPosted by Namita Kirve on May 20th, 2021 The global SaaS backup market was valued at US$ 1320.8Mn and it is expected to reach at US$ 3880.2Mnby 2027, growing at a CAGR of 16.6% over the forecast period. SaaS backup is technology designed to store and protect data created by SaaS products. These are any software licensed out and delivered through the cloud rather than installed on-premises. SaaS stores this data either elsewhere on the cloud or on-premises so that if the SaaS products fail, its information is stored safely. SaaS Back-up solutions provide infrastructure and application support to enterprises at a lower cost than on-premises solutions. With the help of these solutions, companies can reserve and pay for only the amount of data they require and are actively using. This helps enterprises to reduce their capital and operational expenditure on IT infrastructure. IT spending has been steadily shifting from traditional on-premises offerings to cloud services from the past five years, and it is continuing to grow. SaaS application spending will grow to over billion worldwide by 2020. 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. While traditional backups face several challenges such as mismanagement by companies, server collapse, cloud backup solution for backup and recovery, enables automatic backup of data, and helps in streamlining and sharing of important documents relating to a business, helping companies to enhance business transparency and efficiency.
Small and medium enterprises are very resistive for the adoption of SaaS back up market. On-premise is the preferred solution by SME due to greater security and its reliable operation. This factor decreases the demand of SaaS back up market. Acquisition in the market is expected to create significant opportunity 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. Get Sample Report: https://qualiketresearch.com/request-sample/SaaS-Backup-Market/request-sample Market Key PlayersSome key operating players are discussed in this report such as SolarWinds, Spanning, Acronis, OwnBackup, Datto, UpSafe, BackupBuddy, Relational Junction, Barracuda, Mail Backup, Parablu Inc, etc.
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