Veeam Third WW Largest Backup Vendor With 14.2% Share

This blog appears on Veeam Software, Inc.‘s web site on July 6, 2020, written by Dave Russell, VP of enterprise strategy, formerly VP and distinguished analyst at Gartner, Inc.

We are now 3rd largest backup vendor

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% Y/Y in a market that Gartner states grew at 2.5%, meaning that its growth was over 10x 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.

Source: Market Share: All Software Markets, Worldwide, 2019

Looking back in time, in 2015 Veeam was the 5th largest vendor in market, behind Veritas Technologies, EMC, IBM and Commvault. In 2016 it increased its market share to become the 4th largest provider of backup and recovery software, behind Veritas Technologies, Dell EMC, and IBM. As it accelerated its growth in 2017 and over the next 2 years, it finished 2019 with an increased market share position again, becoming the 3rd largest provider of backup and recovery software, behind Veritas Technologies and Dell EMC.

In 1H020, Veeam has delivered a new version of its Availability Suite v10https://go.veeam.com/v10, as well as solutions for Amazon Web Services, Microsoft Azure, and announced that it is a founding member and certified for Google Cloud VMware Engine (Google Cloud Collaborationhttps://www.veeam.com/blog/google-cloud-collaboration.html), along with other enhancements.

Veeam’s growth has continued in 2020, with an increase in annual recurring revenue (ARR) of 21% Y/Y for 1Q20 compared to 1Q19 (Veeam Reports Continued Annual Growth and Market Share Gainshttps://www.veeam.com/news/veeam-reports-continued-annual-growth-and-market-share-gains.html). The release cadence of new and expanded capabilities is expected to continue for the 2H20.

The company has over 375,000 customers globally.

In Gartner’s 2019 Magic Quadrant for Data Center Backup & Recovery Solutions, Veeam was named a leader for the 3rd time.(2)

(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, April 13, 2020
(2) Gartner, Inc., Magic Quadrant for Data Center Backup and Recovery Solutions, Santhosh Rao, Chandra Mukhyala, Nik Simpson, October 10, 2019