SaaS spending expected to increase in 2024 and beyond

Technological research firm Gartner has predicted that global end-user spending on SaaS will grow by 20% to $247.2 billion in 2024 and rise to nearly $300 billion by 2025. This growth will also mean an increase in the data generated by these applications, highlighting the need for data protection and backup solutions.

As businesses become increasingly dependent on SaaS technologies, it is crucial to ensure that SaaS data is both protected and recoverable. In addition, given the vulnerability of SaaS data to errors and cyberattacks, robust backup solutions are critical. With this in mind, it is expected that three-quarters of companies will make SaaS data backups a priority by 2028, up 15% from 2024. 

When choosing SaaS providers, companies should evaluate their vendors' data protection measures. If these measures prove insufficient, the adoption of third-party Backup Integration as a Service (BaaS) solutions ensures comprehensive data protection and strengthens security and operational resilience.

Penta BaaS is an industry-leading Backup-as-a-Service solution for data protection, designed to meet the needs of modern businesses of all sizes. Penta BaaS offers fast and reliable backup and replication of your entire IT environment to the cloud of your choice, or to Penta’s secure data centres in two of the world’s major financial capitals, Geneva, Switzerland and DIFC, Dubai, UAE. Contact us today to find out more.