Market Highlights:
The global cloud backup market is growing pervasively mainly due to the growing demand for secured storage systems fuelled by the increasing number of enterprises, worldwide. Furthermore, factors such as growing volumes of data generation, growing adoption of SaaS, and greater efficiency cloud backup provides at much lower costs in comparison with the on-premises backup provide impetus to the market growth.
Recognizing the traction, the market is witnessing currently; Market Research Future (MRFR) in its recently published study report asserts that the global cloud backup market will reach approximately 5.66 Bn. USD by 2023, posting approximately 21.4 % CAGR during the assessment 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:
- Oracle Corporation (US),
- Microsoft Corporation (US),
- IBM Corporation (US),
- EMC Corporation (US),
- Amazon Web Services. (US),
- Google Inc. (US),
- Dropbox, Inc. (US.),
- VMware Inc. (US),
- Barracuda Networks, Inc. (US),
- Datto, Inc. (US.),
- CommVault Software (US),
- Symantec Corporation (US),
- Code42 Software, Inc. (US).
According to MRFR, 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 global cloud backup market appears to be highly fragmented and competitive. Matured players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to maintain their market position and to gain the competitive advantage in this market. Strategic partnerships between key players support the growth and expansion plans of the key players during the forecast period.
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:
North-America is dominating the Global Cloud Backup Market with the largest market share due to the increasing shift of workload to cloud environment. Cloud Backup Market in Asia-Pacific market is expected to grow at a substantial CAGR during 2017 to 2023 owing to the various advantages associated with using cloud storage. Moreover, increasing development of IT infrastructure by organizations, especially in India and China that are adopting new technologies to work efficiently with existing systems and data. The European market for Cloud Backup Market is expected to grow at a considerable CAGR (2017-2023).
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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
LIST OF TABLES
TABLE 1 CLOUD BACKUP MARKET, BY SOLUTION
TABLE 2 CLOUD BACKUP MARKET, BY SERVICES
TABLE 3 CLOUD BACKUP MARKET, BY DEPLOYMENT
TABLE 4 CLOUD BACKUP MARKET, BY ORGANIZATION SIZE
TABLE 5 CLOUD BACKUP MARKET, BY END-USERS
TABLE 6 CLOUD BACKUP MARKET, BY REGION
TABLE 7 NORTH AMERICA CLOUD BACKUP MARKET, BY SOLUTION
Continued………
LIST OF FIGURES
FIGURE 1 RESEARCH SOLUTION
FIGURE 2 CLOUD BACKUP MARKET: BY SOLUTION (%)
FIGURE 3 CLOUD BACKUP MARKET: BY SERVICES (%)
FIGURE 4 CLOUD BACKUP MARKET: BY DEPLOYMENT (%)
FIGURE 5 CLOUD BACKUP MARKET: BY ORGANIZATION SIZE (%)
Continued………
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