The onslaught of ransomware attacks, growing usage of cloud-native applications and the need to manage backups remotely amid the pandemic have been a boon for emerging data protection software suppliers in recent years.
In fact, it is no longer a question of whether organisations will need their backups, but rather a question of when, and how quickly and seamlessly they will be able to get back up and running, says Joseph Yang, general manager for storage and data services at Hewlett Packard Enterprise (HPE) Asia-Pacific.
“Data, and the business value derived from it, has also become the core of many businesses, so companies simply cannot afford to take their backup and recovery solutions for granted,” he adds. “Because of this, demand for these solutions is not just coming from traditional IT decision-makers any more, but directly from business leaders and executives.”
The backup and recovery space remains highly fragmented, however, with no single player commanding a major share of the market, unlike other IT segments where market leaders tend to lead by a bigger margin.