Market Highlights:
The Global Cloud Backup Market is growing with the rapid pace; mainly due to the increasing demand for low cost and reliable storage facility. According to a recent study report published by the Market Research Future, the global market of cloud backup is growing rapidly and expected to gain prominence over the forecast period. The market is projected to demonstrate a remarkable growth by 2023, beating its previous growth records in terms of value with a noticeable CAGR during the anticipated period (2017 – 2023).
The main purpose of a cloud backup solution is to be a form of disaster recovery for any type of data. Cloud backup or online backup refers to backing up of data to a remote, cloud based server. The large enterprises already have effective, but highly expensive, disaster-recovery plans with multiple tiers of data backup, generally including the cloud or at least data stored off site. Cloud backup can be considered as the only way to protect information and applications in a natural disaster. Using a cloud DR solution, businesses can back up entire machines to recover them instantly (including recovering all VMs), or back up volumes, directories and individual files for more-specific, efficient protection.
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Major Key Players:
Microsoft Corporation (U.S),
Oracle Corporation (U.S),
IBM Corporation (U.S),
Amazon Web Services. (U.S),
EMC Corporation (U.S),
Google Inc. (U.S),
VMware Inc. (U.S),
Dropbox, Inc. U.S.),
Barracuda Networks, Inc. (US), CommVault Software (U.S), Datto, Inc. (U.S.), Symantec Corporation (US), Code42 Software, Inc. (US), among others.
According to a recent study report published by the Market Research Future, The global Cloud Backup market is forecasted to gain prominence over the forthcoming years. The Market is forecasted to reach to USD ~5.66 Billion by 2023 growing with a striking double digit CAGR of ~21.4 % of during the forecast period 2017-2023.
Competitive Analysis
The Market of Cloud Backup appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through extensive research and development. Competitors are also focusing towards customer satisfactions and innovation as the major focus for maintaining the market positions. A large number of startups are targeting small and medium business to provide budget friendly and effective cloud backup solutions. On the other hand, large players are focusing towards hybrid cloud solutions and special storage solutions for virtual machines and deduplication options among others. Recently, a start-up named Datrium is readying a new Cloud DVX option for Amazon Web Services to provide customers with an off-site option for backup and disaster recovery. The Datrium DVX storage system for VMware virtual machines (VMs) consists of compute nodes and storage nodes. DVX Compute Nodes uses server-based flash cache to accelerate data reads, and DVX Data Nodes store data that has been compressed and globally deduplicated.
Segmentation
Segmentation By Solution: Comprises Primary storage, Disaster recovery, Cloud storage gateway and backup storage.
Segmentation By Deployment : Comprises Public Cloud, Private Cloud, and Hybrid Cloud.
Segmentation By Organization Size: Comprises SMEs and Large Enterprises
Segmentation By Service: Comprises Training and consulting, Support and maintenance, Cloud integration and migration and Managed services.
Segmentation By End-User : Comprises BFSI, Consumer goods and retail, Education, Government and public sector, Healthcare and life sciences.
Regional Analysis
The regional analysis of Cloud Backup market is being studied for region such as Asia Pacific, North America, Europe and Rest of the World. Cloud Backup has driven due to its solutions like storage, simple management and monitoring, real-time backup and recovery, simple integration of cloud backup with enterprise’s other applications, data de-duplication, customer support and many others services.
It has been observed that North America region is the leading in Cloud Backup market. The study reveals that Europe region is showing a rapid growth in the Cloud Backup market. Asia-Pacific countries like China, Japan and India is projected to be the fastest growing region in the Cloud Backup market due to the increasing size of high data generation in many countries.
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Intended Audience
- Software investors
- Cloud vendors
- Application design and development service providers
- System integrators/migration service providers
- Training and education service providers
- Data integration service providers
- Managed service providers
- Data quality service providers
- Security Management Service Provider
- Security Equipment Providers
- Security Agencies
- System Integrators
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