The investments will go into expanding R&D, sales & marketing and brand building.

Sekar Vembu, Founder & CEO of Vembu Technologies told DH that in India, the size of the data backup and recovery market is about Rs 5,000-10,000 crore. "Globally, it is about a $10-12 billion market, and is growing at around 20-25% per annum. In India, it is expected to grow even faster," he said. The company is focusing on the Indian market and targets Rs 500 crore in revenues from this market alone, in the next five years.

Vembu said cyber attacks are increasing currently that there is a lot of awareness around ransomware. "Earlier, companies used to get some disk or user error messages when data got deleted. But now, cyber attacks are increasing and companies are taking backup seriously. I expect this market to grow faster in the next 5-10 years," he said.

Given the present conflict in West Asia that has impacted data centre infrastructure, Vembu said they have received a few requests from the region about backup and even companies from India approached them for backup. "At least five customers have contacted us from West Asia, and we got two enquiries from Chennai as they want sophisticated backup solutions," he said.

Backup is not just copying data from one disk to another, there is a big process around it, he said. "The worst case is when a data centre itself gets burned down or becomes a target of some attacks. This is what we are seeing in some data centres in West Asia. There are cyber attacks, ransomware attacks, and hardware failure. These are usual things that keep happening in any data centre. Irrespective of whatever security one has, things can go wrong," he said.

Sophisticated customers usually take a backup to a local disk, and then some of them do a tape, and the tape is taken offsite.

"An archive to a tape, and then the tape is taken offsite and stored elsewhere, not in the same location. Sometimes, you also have a third copy, where the backup data is stored in another data centre at an offsite location or a cloud, a public cloud like Amazon or others, sometimes even one's own private cloud somewhere else. Typically, a backup process will have three copies - one stored onsite, another stored in tape, and the other one in a cloud," he explained.

Vembu, who has over three decades of experience in building global enterprise software products from India, said the company's product BDRShield provides each stakeholder the tools they need to protect data, deliver value, and stay resilient. According to him, the BFSI segment is the No.1 backup market, followed by retail companies.