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 study indicates that the increasing demand of the secure storage and backing up the data on cloud is a key driver for Cloud Backup market. The study signifies that a trend of high adoption of Cloud computing boosting the cloud backup market. It also reveals that with the increase in the adoption of cloud backup among enterprises cloud service will be growing fast in the forecast periods.
With the rise in data explosion, many organizations have supported the need for replication of data as backup and frequent data protection. Challenges such as server collapse and mismanagement of large company data have forced organizations to look for a substitute for traditional backups, as these are costly to maintain and require continuous monitoring. These challenges of traditional backups have resulted as the major driving force for the cloud backup market.
Apart from it, a trend which is boosting market growth is the availability of cloud backup for virtual machines. Virtualization is now becoming an integral part of IT infrastructure. Many enterprises have committed to pursue virtualization over the next few years. The technology offers many business benefits, including rapid provisioning and better utilization of system resources. Many organizations are seeking to implement agentless solutions for the backup and recovery.
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The Cloud Backup Market can be segmented in to 6 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Solutions: Primary storage, Disaster recovery, Cloud storage gateway and others.
Segmentation by Services: Training and consulting, support and maintenance, cloud integration and migration, managed services
Segmentation by Deployments: Public Cloud, Private Cloud, Hybrid Cloud
Segmentation by Organization Size: Small and Medium Enterprises (SMEs), Large Enterprises
Segmentation by End-User: BFSI, consumer goods and retail, education, government and public sector, healthcare and life sciences, manufacturing, media and entertainment, telecommunication and ITES and others.
Segmentation by Regions: Comprises Geographical regions – North America, Europe, Asia Pacific and Rest of the world.
On geographic basis, Cloud Backup Market is studied in different regions as North America, Europe, Asia-Pacific and Rest of world. It has been observed that North America region is leading Cloud Backup in the market and is expected to grow with a high rate as well as hold the largest market share. In the Europe region there has been a major focus onto the online secure data storage system and is expected to gain a major traction during the forecast period. The study shows that developing economies in Asia Pacific region like China, Japan, India and others has a significantly growing well in Cloud Backup market.
Cloud Backup Global Market – 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.
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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
TABLE 8 NORTH AMERICA CLOUD BACKUP MARKET, BY SERVICES
TABLE 9 NORTH AMERICA CLOUD BACKUP MARKET, BY DEPLOYMENT
TABLE 10 NORTH AMERICA CLOUD BACKUP MARKET, BY ORGANIZATION SIZE
TABLE 11 NORTH AMERICA CLOUD BACKUP MARKET, BY END-USERS
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