By covering all types of workloads across all locations, the company’s

 By covering all types of workloads across all locations, the company’s approach also doesn't force customers into awkward choices between SaaS or on-premises software. The company also simplifies safeguarding data by implementing a single policy engine that covers every aspect of a business’ data.

Commvault, headquartered in Tinton Falls, New Jersey operates development centers in India, the U.K. and New Jersey. Commvault originated in 1988 as a data management, backup and recovery development group within Bell Labs. It was subsequently established as a business unit within AT&T Network Systems. Following AT&T's reorganization, the group became a part of Lucent Technologies before being spun off in 1996 to become an independent company. It anticipates achieving revenue of approximately $820 million in its fiscal year 2024.

A Rapidly Evolving Market

Global spending on security and risk management is expected to reach $215 billion in 2024, a 14.3% increase from the estimated $188 billion in 2023, according to Gartner, Inc. This growth is attributed to factors such as the adoption of hybrid work models, cloud technologies, GAI and increased efforts to improve security governance and data protection. Spending on data privacy and cloud security is projected to grow by more than 24% annually for the next several years. Organizations are maintaining a strong focus on privacy due to new regulations that influence the processing of personal data, particularly against the backdrop of hype about artificial intelligence. Gartner forecasts that by 2025, privacy regulations will create legal protections for the personal data of 75% of the global population. This trend, along with the surge in cloud services usage, is driving increased investment in cloud security and data management.