Gartner has recently published its 2019 Market Share: All Software Markets, Worldwide research, and with sustained multiyear revenue gains, Veeam has increased in market share to become the 3rd largest provider of backup and recovery software.1 Veeam grew its revenue 25.9 percent year-over-year (YoY) in a market that Gartner states grew at 2.5 percent, meaning that Veeam’s growth was over 10 times that of the overall market for backup software.
As is implied by the naming, the Storage Management market sub segment of Backup and Recovery Software examines vendor market share (new license revenue + renewals and maintenance) for software only. This means that hardware-specific revenue associated with from the server, storage and networking infrastructure in deduplication or converged secondary storage appliances is excluded.
Looking back in time, in 2015 Veeam was the 5th largest vendor in market, behind Veritas Technologies, EMC, IBM and Commvault. In 2016 Veeam increased its market share to become the 4th largest provider of backup and recovery software, behind only Veritas Technologies, Dell EMC, and IBM. As Veeam accelerated its growth in 2017 and over the next two years, Veeam finished 2019 with an increased market share position again, becoming the 3rd largest provider of backup and recovery software, behind only Veritas Technologies and Dell EMC.
In the first half of 2020, Veeam has delivered a new version of its flagship offering Veeam Availability Suite v10, as well as solutions for Amazon Web Services, Microsoft Azure, and announced that we are a founding member and certified for Google Cloud VMware Engine (Google Cloud Collaboration), along with many other enhancements. Veeam’s growth has continued in 2020, with an increase in annual recurring revenue (ARR) of 21 percent year-over-year (YoY) for Q1’20 compared to Q1’19 (Veeam Reports Continued Annual Growth and Market Share Gains). The release cadence of new and expanded capabilities is expected to continue for the second half of 2020.
Today Veeam has over 375,000 customers globally, and we help you backup for what’s next. In Gartner’s 2019 Magic Quadrant for Data Center Backup & Recovery Solutions, Veeam was named a Leader for the 3rd time.2 Download the 2019 Gartner Magic Quadrant report today to check out the details on Veeam’s Leader position.
UPDATE: Gartner named Veeam a Leader for the fourth time, positioning Veeam as the highest for the ability to execute. Read the NEW Gartner Magic Quadrant for Data Center Backup and Recovery Solutions 2020 Report.
1 Gartner, Inc., Market Share: All Software Markets, Worldwide, 2019, Neha Gupta, Vanitha Dsilva, Supradip Baul, Rustam Malik, Laurie Wurster, Amit Goyal, Sharat Menon, Yanna Dharmasthira, Eric Hunter, Fabrizio Biscotti, Alys Woodward, Bindi Bhullar, Jim Hare, Kevin Quinn, Wataru Katsurashima, Balaji Abbabatulla, Chris Pang, Chandra Mukhyala, Michael Warrilow, Craig Roth, John Kostoulas, Julian Poulter, Alan Dayley, Varsha Mehta, Satyam, 13 April 2020
2 Gartner, Inc., Magic Quadrant for Data Center Backup and Recovery Solutions, Santhosh Rao, Chandra Mukhyala, Nik Simpson, 10 October 2019
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
