The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The growing volume of data and the awareness among organizations to backup and protect their data are expected to drive innovation in storage and backup software manufacturing, thus driving the market during the forecast period.

The global storage and backup software market is expected to grow from $18.02 billion in 2022 to $19.33 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The global storage and backup software market size is expected to grow to $24.29 billion in 2027 at a CAGR of 5.9%.

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Global storage and backup software Market Segments Include:

• 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 market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global storage and backup software market in 2021.

Major Market Players in the storage and backup software market include Dell Inc., HPE, Netapp, Hitachi, IBM, Huawei, International Business Machines Corporation, Toshiba Corporation, Pure Storage Inc., Nutanix Inc.

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.

The Storage And Backup Software Global Market Report 2023  provides a storage and backup software market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The storage and backup software market forecast analyzes storage and backup software market size, storage and backup software market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Storage & backup software is an application used to store data, make duplicate copies of the data to protect it, and make it recoverable in the event of loss, damage, or malware infection.

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