Online Backup Poised to Grow Fourfold by 2011
FRAMINGHAM, Mass.–(BUSINESS WIRE)–Fueled by a combination of factors, including the tremendous growth in digital data generated by individuals and small businesses, the worldwide online backup services market is poised for growth. IDC estimates revenue for this emerging market to reach $715 million by 2011, representing a 33.3% compound annual growth (CAGR) between 2006 and 2011.
“Consumers and small businesses especially are interested in alternative methods of protecting their data, as traditional backup methods fall short regarding efficiency, reliability, and ease-of-use,” said Doug Chandler, research director for Storage Services at IDC. “Online backup has become an attractive approach for many customers, with the advent of cheaper broadband access, users’ greater comfort level with Web-based services, and the growing business need for a second site for remote data protection purposes.”
Among key assumptions behind IDC’s forecast are the following:
IDC’s study, Online Backup Services Forecast 2007 – 2011: A New Market Emerges (IDC #209868), presents a five-year forecast for the online backup services market, discusses key issues and offers guidance for providers.
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