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SaaS Backup Software Market Poised for Strong Growth: Forecast to Reach USD 4813 Million by 2030 with Rising Demand for Cloud Data Protection | Valuates Reports

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BANGALORE, India, Nov. 7, 2024 /PRNewswire/ — SaaS Backup Software Market is Segmented by Type (Microsoft 365 Backup, Salesforce Backup, Google Workspace Backup), by Application (Large Enterprises, SMEs): Global Opportunity Analysis and Industry Forecast, 2024-2030.

The Global SaaS Backup Software Market was valued at USD 2492 Million in 2023 and is anticipated to reach USD 4813 Million by 2030, witnessing a CAGR of 9.7% during the forecast period 2024-2030.

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Major Factors Driving the Growth of SaaS Backup Software Market

The SaaS Backup Software Market is poised for strong growth as businesses continue to shift towards cloud-based environments and face increasing data security concerns. The demand for scalable, flexible, and compliant backup solutions is expected to remain high, particularly as cybersecurity threats intensify and regulatory requirements become more stringent. The adoption of SaaS backup software is likely to expand further as businesses prioritize data protection and business continuity in the digital age.

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TRENDS INFLUENCING THE GROWTH OF THE SAAS BACKUP SOFTWARE MARKET:

Microsoft 365 is one of the most widely used cloud-based productivity suites, making its data backup crucial for organizations. As businesses increasingly rely on Microsoft 365 for emails, documents, and collaboration tools, the demand for SaaS backup solutions that ensure data protection, compliance, and recovery has surged. With the growing concerns around data loss due to human error, cyberattacks, or accidental deletions, specialized backup software for Microsoft 365 is becoming indispensable, driving the growth of the SaaS Backup Software Market.

Salesforce, as a leading CRM platform, contains valuable customer data that businesses cannot afford to lose. To mitigate the risk of data corruption, loss, or breach, organizations are turning to SaaS backup solutions specifically designed for Salesforce. These solutions ensure that businesses can restore lost data, maintain business continuity, and comply with data retention policies. The growing number of businesses using Salesforce is contributing to the rise in demand for reliable and secure backup services, thus driving the growth of the SaaS Backup Software Market.

Large enterprises, which generate and manage vast amounts of data, are increasingly adopting SaaS backup solutions to ensure the security of their data. These companies require advanced solutions that offer scalability, robust security features, and compliance with various regulations. Large enterprises are often prime targets for cyberattacks, which heightens the need for reliable backup services. Their need for continuous data availability and rapid recovery in the event of data loss is a key factor driving the growth of the SaaS Backup Software Market.

As regulatory requirements become more stringent, organizations are increasingly focused on ensuring data protection and compliance. Regulations like GDPR, HIPAA, and CCPA mandate that businesses have comprehensive backup solutions to protect customer data and ensure data availability in case of loss or breach. The need to comply with these regulations is driving the adoption of SaaS backup software, as businesses seek solutions that offer automated data protection and help avoid potential penalties.

The rapid shift towards cloud-based solutions across industries is another major factor driving the growth of the SaaS Backup Software Market. As more businesses migrate to cloud platforms, the risk of data loss and security breaches increases, prompting the need for backup solutions that can protect critical cloud-based data. SaaS backup solutions, which are designed to safeguard data stored on cloud platforms, are witnessing high demand as cloud adoption continues to rise.

With the increasing prevalence of cyberattacks, such as ransomware and phishing, businesses are placing greater emphasis on securing their data. Cybercriminals are often targeting cloud environments, and companies without adequate data backup solutions face severe financial and operational consequences. The growing number of cybersecurity threats is prompting businesses to invest in SaaS backup software, which provides a secure, automated way to back up and restore data, driving market growth.

Business continuity and disaster recovery are critical considerations for companies of all sizes. In the event of data loss due to technical failures, natural disasters, or human error, businesses need to ensure that they can quickly recover their data to minimize downtime. SaaS backup solutions provide businesses with the ability to recover lost or corrupted data quickly, ensuring minimal disruption to operations. The growing focus on business continuity is propelling the demand for SaaS backup software.

One of the primary advantages of SaaS backup software is its scalability and flexibility, which is particularly important for growing businesses. These solutions can be easily scaled up or down based on the organization’s needs, without the need for additional infrastructure. The ability to customize and pay for only the required backup services makes SaaS backup software attractive to businesses of all sizes. This flexibility is contributing to the widespread adoption of SaaS backup solutions.

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SAAS BACKUP SOFTWARE MARKET SHARE ANALYSIS

Global key players of SaaS Backup Software include Veeam, Commvault, Barracuda, Kaseya, Veritas, etc. The top five players hold a share of about 56%.

North America is the largest market, and has a share of about 52%, followed by Europe and Asia-Pacific with 29% and 13%, respectively. North America dominates the market due to its high cloud adoption rate and strict regulatory compliance standards. Europe follows closely, driven by stringent data protection regulations like GDPR. In Asia-Pacific, rapid digital transformation and increasing cloud usage in countries like China and India are contributing to the market’s expansion.

In terms of product type, Microsoft 365 Backup is the largest segment, accounting for a share of 50%. In terms of application, SMEs have a share of about 77 percent.

Key Companies:

AcronisBarracudaDruvaVeeamAsigraVeritasKaseyaCommvaultCohesityOwn CompanyAvePointN-able CoveArcserveHPE ZertoKeepitRewindDropsuiteSkyviaVembu (BDRSuite)Opentext (CloudAlly)

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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!

–  SaaS Backup Solution Market

–  Backup Recovery Software market was valued at USD 5572 Million in 2023 and is anticipated to reach USD 10800 Million by 2030, witnessing a CAGR of 9.8% during the forecast period 2024-2030.

–  Endpoint Backup Software market was valued at USD 2945 Million in 2023 and is anticipated to reach USD 5595 Million by 2030, witnessing a CAGR of 8.8% during the forecast period 2024-2030.

–  Email Backup Software Market

–  The global market for SaaS-based CRM Software was estimated to be worth USD 1130 Million in 2023 and is forecast to a readjusted size of USD 2505.3 Million by 2030 with a CAGR of 8.1% during the forecast period 2024-2030.

–  Data Backup Software Market revenue was USD 5630 Million in 2022 and is forecast to a readjusted size of USD 9272.8 Million by 2029 with a CAGR of 7.3% during the review period (2023-2029).

–  The global Cloud Backup market size is projected to reach USD 4229.3 Million by 2026, from USD 1834.3 Million in 2019, at a CAGR of 12.5% during 2020-2026.

–  Backup Restore Software Market

–  Backup-as-a-Service (BaaS) market was valued at USD 11580 Million in 2023 and is anticipated to reach USD 65570 Million by 2030, witnessing a CAGR of 21.8% during the forecast period 2024-2030.

–  SaaS E-commerce Platform market was valued at USD 8523 Million in 2023 and is anticipated to reach USD 21580 Million by 2030, witnessing a CAGR of 15.0% during the forecast period 2024-2030.

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Technology

XLCS Partners advises Concurrent Utility Services on sale to UniTek Global Services

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July 23, 2026

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NASHVILLE, Tenn., July 23, 2026 /PRNewswire/ — XLCS Partners, Inc., a leading middle market investment bank, is pleased to announce that it served as exclusive M&A advisor to Concurrent Utility Services LLC on its acquisition by UniTek Global Services, Inc., a portfolio company of New Mountain Finance Corporation (Nasdaq: NMFC) and its affiliates, and BTG Pactual Strategic Capital.

Headquartered in Miami, Florida, Concurrent is a licensed general and electrical contractor providing infrastructure development and maintenance services to electric utilities, telecom providers, and land developers throughout the Southeast United States. The company’s capabilities span overhead and underground utility construction, professional telecom services, emergency service restoration, in-building networks, environmental services, and data center development. Backed by a safety-first culture and an experienced workforce, Concurrent has built a strong regional platform and a reputation for quality across the markets it serves.

UniTek is a leading digital infrastructure services provider supporting the expansion of fiber and data center connectivity across the U.S. and Canada. With over 600 employees and 60 locations, UniTek delivers a full suite of infrastructure services. The acquisition of Concurrent accelerates UniTek’s Power Services Division, which launched in July 2025 to broaden the company’s maintenance, repair, upgrade, and new infrastructure development services for the power sector. Concurrent’s established Southeast footprint and power capabilities directly complement UniTek’s existing broadband and data center infrastructure platform, positioning the combined company to capitalize on growing demand for resilient, modernized power infrastructure. Concurrent will continue to operate under its established brand, maintaining uninterrupted service for its customers.

“Selling Concurrent was one of the biggest decisions of my career, and Anthony, Jay, and the XLCS team guided us through every step with professionalism and genuine care for our people,” said Steve Sarno, CEO of Concurrent. “They stayed fully engaged throughout, gave us honest and thoughtful advice, kept our best interests front and center, and delivered an outcome that exceeded our expectations. I would recommend them without hesitation to any owner considering a transaction.”

XLCS acted as the exclusive M&A advisor to Concurrent, and the transaction was led by Anthony Contaldo, Partner, and Jay Cremer, Vice President. The transaction was completed on July 1, 2026.

About XLCS Partners, Inc.

XLCS Partners is a leading global investment banking firm providing M&A advisory services. Visit www.xlcspartners.com for more information.

Media Contact: 
Kendra Span 
kspan@xlcspartners.com
615-379-7783

View original content to download multimedia:https://www.prnewswire.com/news-releases/xlcs-partners-advises-concurrent-utility-services-on-sale-to-unitek-global-services-302833542.html

SOURCE XLCS Partners, Inc.

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XLCS Partners advises Concurrent Utility Services on sale to UniTek Global Services

Published

19 minutes ago

on

July 23, 2026

By

NASHVILLE, Tenn., July 23, 2026 /PRNewswire/ — XLCS Partners, Inc., a leading middle market investment bank, is pleased to announce that it served as exclusive M&A advisor to Concurrent Utility Services LLC on its acquisition by UniTek Global Services, Inc., a portfolio company of New Mountain Finance Corporation (Nasdaq: NMFC) and its affiliates, and BTG Pactual Strategic Capital.

Headquartered in Miami, Florida, Concurrent is a licensed general and electrical contractor providing infrastructure development and maintenance services to electric utilities, telecom providers, and land developers throughout the Southeast United States. The company’s capabilities span overhead and underground utility construction, professional telecom services, emergency service restoration, in-building networks, environmental services, and data center development. Backed by a safety-first culture and an experienced workforce, Concurrent has built a strong regional platform and a reputation for quality across the markets it serves.

UniTek is a leading digital infrastructure services provider supporting the expansion of fiber and data center connectivity across the U.S. and Canada. With over 600 employees and 60 locations, UniTek delivers a full suite of infrastructure services. The acquisition of Concurrent accelerates UniTek’s Power Services Division, which launched in July 2025 to broaden the company’s maintenance, repair, upgrade, and new infrastructure development services for the power sector. Concurrent’s established Southeast footprint and power capabilities directly complement UniTek’s existing broadband and data center infrastructure platform, positioning the combined company to capitalize on growing demand for resilient, modernized power infrastructure. Concurrent will continue to operate under its established brand, maintaining uninterrupted service for its customers.

“Selling Concurrent was one of the biggest decisions of my career, and Anthony, Jay, and the XLCS team guided us through every step with professionalism and genuine care for our people,” said Steve Sarno, CEO of Concurrent. “They stayed fully engaged throughout, gave us honest and thoughtful advice, kept our best interests front and center, and delivered an outcome that exceeded our expectations. I would recommend them without hesitation to any owner considering a transaction.”

XLCS acted as the exclusive M&A advisor to Concurrent, and the transaction was led by Anthony Contaldo, Partner, and Jay Cremer, Vice President. The transaction was completed on July 1, 2026.

About XLCS Partners, Inc.

XLCS Partners is a leading global investment banking firm providing M&A advisory services. Visit www.xlcspartners.com for more information.

Media Contact: 
Kendra Span 
kspan@xlcspartners.com
615-379-7783

View original content to download multimedia:https://www.prnewswire.com/news-releases/xlcs-partners-advises-concurrent-utility-services-on-sale-to-unitek-global-services-302833542.html

SOURCE XLCS Partners, Inc.

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Fathom Applauds Introduction of the FRONTIER Act, the First Federal Blueprint for Independent AI Verification

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19 minutes ago

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July 23, 2026

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Reps. Lori Trahan (D-MA-03) and Jay Obernolte (R-CA-23) introduce a bill to build a competitive marketplace of independent verifiers for frontier AI models.

WASHINGTON, July 23, 2026 /PRNewswire/ — Fathom welcomes the introduction of the FRONTIER Act, the most complete federal framework yet for independent, third-party verification of frontier AI. The legislation is built to earn public trust as AI technology continues to accelerate. As frontier systems begin to take autonomous action in the world, the gap between what these models can do and our ability to keep them in check is widening. FRONTIER is the starting point to close that gap.

“AI governance keeps running into the same wall. The technology is hard to measure and it moves faster than any law can keep up with,” said Andrew Freedman, Co-Founder and CEO of Fathom. “Trying to write the perfect rules and freezing them in place won’t work. What will work is a competitive market of independent verifiers who are accountable for real-world outcomes and who the government can actually count on. The FRONTIER Act shows we can move fast and still get this right.”

The bill gets the fundamentals correct. It sets one public standard – the adequate mitigation of catastrophic risk – and holds both the AI companies and their independent verifiers accountable to it. FRONTIER does not freeze a single testing method into statute. Instead, it licenses competing verification organizations, allows them to sharpen their methods, and gives the government the power to revoke a license when a verifier’s work does not hold up in the field. That is how you build a system that keeps pace with the science instead of falling behind it.

Fathom thanks Reps. Trahan and Obernolte for their leadership, and for their courage in releasing a discussion draft, inviting scrutiny, and incorporating substantive improvements from across the field. One priority improvement as the bill advances: giving the government a fuller range of tools to act upstream – for pushing companies to close identified gaps in risk mitigation early, rather than only once a catastrophe is imminent. We are committed to working with these sponsors, committees of jurisdiction, and Congressional leadership to continue refining the bill in the weeks and months ahead.

About Fathom
Fathom is an independent nonprofit whose mission is to build a governance architecture that helps society navigate the transition to a world with AI by fostering trust, safety, and innovation. Fathom has developed and championed the independent verification model for AI and works with policymakers across the country to put it into practice. Learn more at http://fathom.org.

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SOURCE Fathom AI Inc.

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