For the second consecutive year, over half of organizations plan to change their primary backup solution, with 54% intending to do so in 2024 compared to 57% in 2023. However, there is a noticeable shift, as 27% now plan to stick with their current solution, up from just 8% in 2023. This change could involve transitioning from self-managed to managed services or adopting new technologies or vendors.
Key drivers for these changes include an "Availability Gap," where 85% of organizations recognize a gap between recovery speed and business needs, and a "Protection Gap," with 76% acknowledging insufficient data protection frequency. Alongside these challenges, data protection budgets are expected to increase by 6.6% in 2024, exceeding industry analyst expectations. A significant 92% of organizations plan to raise their budgets, up from 85% in 2023, signaling strong investment in improving data protection capabilities.
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