ID: MRFR/ICT/6723-HCR | 111 Pages | Author: Aarti Dhapte | September 2023
Virtual Machine Backup and Recovery Market is expected to register a CAGR of 6.9% during the forecast period to reach USD 3.25 Billion by 2030.
$3.25 Billion
6.9%
North America
2022-2030
Market Synopsis
The Global Virtual Machine Backup and Recovery Market is expected to register a CAGR of 6.9% during the forecast period to reach USD 3.25 Billion by 2030.
Virtual machine backup is the process of copying data present on a virtual machine in a virtual environment to prevent its loss. Virtual machine backup or virtual server backup and recovery is an important task performed by storage and backup administrators. Critical data is increasing in huge volumes all across the globe. It is important to protect this data from external threats and attacks; this increasing need is a factor driving the market growth. However, the high competition from open-source alternatives is a restraint for the market.
Segmentation
The global virtual machine backup and recovery market has been segmented based on agent type, organization size, deployment, vertical, and region/country.
By agent type, the global virtual machine backup and recovery market has been divided into agent-based and agentless.
Based on organization size, the global virtual machine backup and recovery market has been divided into small- and medium-sized enterprises (SMEs) and large enterprises.
By deployment, the global virtual machine backup and recovery market has been divided into cloud and on-premise.
On the basis of vertical, the global virtual machine backup and recovery market has been divided into IT and telecommunication, banking, financial services, and insurance (BFSI), healthcare and life sciences, government and public sector, retail and consumer goods, manufacturing, and others.
The global virtual machine backup and recovery market has been analyzed for five regions—North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.
Regional Analysis
The global virtual machine backup and recovery market is estimated to grow at a CAGR of 6.9% during the forecast period from 2022 to 2030. The geographic analysis of the global virtual machine backup and recovery market has been done for North America, Europe, Asia-Pacific, Middle East and Africa and South America.
North America accounted for the highest market share, due to the increasing adoption of virtual machines in the region. The US leads the market in North America as it is the most technologically advanced country and also hub to various leading players such as VMware, Inc. and IBM Corporation. Various initiatives are taken by key players in the form of partnerships with different technology players for solution enhancement and their distribution.
Europe is expected to be the second-largest market during the review period due to the rising need among enterprises to install virtual machine backup and recovery. Asia-Pacific is anticipated to be the fastest-growing market in the global virtual machine backup and recovery market during the forecast period. The rise in adoption of virtual machine backup and recovery services across verticals and the increasing volume of critical data are the key drivers for the growth of the market in Asia-Pacific.
Competitive Analysis
The global virtual machine backup and recovery market has been witnessing a high demand globally due to the rise in demand across all industries. Major players have opted for partnerships and new product development as their key organic growth strategies to strengthen their position in the market and cater to the demands of enterprises across verticals. For instance, in May 2019, Fujitsu (Japan), a leading player in the market, has partnered with Veeam Software (Switzerland). After the partnership, Fujitsu’s customers will be able to create complete virtual machine backups and replicas from snapshots using Veeam storage snapshot plug-in for Fujitsu ETERNUS AF (all-flash) and ETERNUS DX hybrid storage.
Key Players
The key players in the global virtual machine backup and recovery market are identified based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. These include Veeam Software (Switzerland), Veritas Technologies LLC (US), VMware, Inc. (US), Microsoft Corporation (US), Commvault Systems Inc (US), Acronis International GmbH (Switzerland), IBM Corporation (US), Vembu Technologies (India), Rackspace Inc. (US),Quest Software Inc. (US), MSP 360 (US), Micro Focus (UK), Storix, Inc. (US), Cisco System, Inc (US), and NetJapan, Inc. (Japan). The key strategies adopted by most of the players are partnerships, agreements, and collaborations.
Intended Audience
Report Attribute/Metric | Details |
---|---|
Market Size | USD 3.25 Billion |
CAGR | 6.9% |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Historical Data | 2018 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Type, Size |
Geographies Covered | North America, Europe, Aisa Pacific |
Key Vendors | Veeam Software (Switzerland), Veritas Technologies LLC (US), VMware, Inc. (US), Microsoft Corporation (US), Commvault Systems Inc (US), Acronis International GmbH (Switzerland), IBM Corporation (US), Vembu Technologies (India), Rackspace Inc. (US),Quest Software Inc. (US), MSP 360 (US), Micro Focus (UK), Storix, Inc. (US), Cisco System, Inc (US), and NetJapan, Inc. (Japan). |
Key Market Opportunities | |
Key Market Drivers | Increasing need is a factor driving the market growth. |
The global Virtual machine backup and recovery is expected to record a substantial market valuation of USD 3.25 Billion by 2030.
The global Virtual machine backup and recovery is projected to register a moderate 6.9% CAGR in the forecast period.
The agent-based segment is slated to expand as the fastest-growing segment.
The IT and telecom segment is slated to expand as the fastest-growing segment.
A few major market players operating in the global Virtual machine backup and recovery are VMware, Inc. (US), Veeam Software (Switzerland), Microsoft Corporation (US), Veritas Technologies LLC (US), among others.
Key Questions Answered
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