Veeam Software has emerged as the leading provider in the enterprise backup and recovery software sector, according to the latest Gartner Market Share Analysis. The 2024 report shows that Veeam now holds the largest market share globally, a testament to the growing importance of robust data resilience strategies.
Veeam leads with innovation and growth
As of 2023, Veeam not only topped the list with a market share of 15.1% but also boasted revenues reaching US$1.5 billion, reflecting an impressive 11.8% growth from the previous year. This leap marks Veeam’s transition to the forefront of the market, driven by its comprehensive data resilience solutions.
Anand Eswaran, CEO of Veeam, emphasised the critical nature of reliable data availability. “Today, every organisation relies on the availability of data no matter what happens. When the worst happens – whether due to ransomware or a natural disaster or an inadvertent security update – data resilience is critical,” Eswaran stated. He highlighted Veeam’s commitment to innovation, ensuring that data is accessible and secure across more than 550,000 organisations in over 150 countries.
Expanding capabilities for a secure future
Veeam’s data resilience solutions encompass a wide range of capabilities, including data backup, recovery, security, and intelligence. The Veeam Data Platform, known for its robust security features, offers secure backup and instant recovery options to safeguard against cyberthreats, ensuring compliance and reducing risks for data stored on-premises or in the cloud.
The introduction of Coveware by Veeam marks a significant enhancement in their service offering. As part of the Cyber Secure Program, Coveware delivers comprehensive ransomware protection and recovery, setting a new industry standard. “We believe that Veeam has accelerated our #1 market leadership position in powering data resilience for our customers with cutting-edge innovation, strong partnerships, and customer value focus,” added Eswaran.
Market trends and future outlook
The Gartner report detailed a 5.1% growth in the enterprise backup and recovery software market in 2023, culminating in nearly US$10 billion in total revenue. Veeam’s strategy and market performance have positioned it at the pinnacle of the industry, reflecting its pivotal role in shaping future data protection and recovery solutions.
As businesses continue to navigate the complexities of data security and recovery, Veeam’s leadership and innovative approach provide a reliable path forward in a landscape marked by increasing cyber threats and regulatory demands.
