Increasing demand for cloud backup in the IT & telecommunication sectors, coupled with high investments in R&D of cloud backup, are fueling the market growth.
The global Cloud Backup Market is forecast to reach USD 10.04 Billion by 2026, according to a new report by Reports and Data. The cloud backup solutions provide a virtual remote server storage for the data and applications of any businesses or individuals. Most organizations opt to back up all the important business and operational data to the cloud to keep them readily available in case of a system failure, outage or any unpleasant disaster. The cloud server backup has been compulsory for most of the organizations for their critical data and a virtual storage server for remote accessibility. The global cloud backup market is growing predominantly as the amount of data is being elevated globally. The inclination towards digitization across all the industry verticals have been the primary reason the cloud backup solution is earnestly demanded. SMEs are forecasted to contribute remarkably in the forecast period due to a massive adoption of the cloud deployment for their internal data and applications. APAC is forecasted to achieve the fastest growth of about 32.8% in the period 2019 – 2026, due to an increase in the cloud deployment of data in the countries like China, Singapore, and India. North America holds the highest market share of 37.6% in 2018 because of the prodigious rate of deployment of the cloud backup solutions.
Key participants include Microsoft Corporation, Amazon.com, Barracuda Networks, Hewlett Packard Enterprise Development, NetApp, Acronis International Gmbh, IBM Corporation, Efolder, Inc., Datto, Inc., and Code42 Software, Inc.
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Further key findings from the report suggest
- The hybrid cloud is the composition of two or more distinct private and public cloud infrastructure. It helps to deliver a high-security features of a private cloud, coupled with public cloud’s faster connectivity and easy-to-access features. The hybrid cloud is expected to achieve a market valuation of USD 2.94 Billion by 2026. The CAGR is calculated as 28.0% throughout the forecast period.
- In an incremental backup, the successive copies of the data containing the portion that has changed since the preceding backup copy was uploaded, is uploaded only and in case of a full back up, the last full back up is taken into operation. The incremental backup had a market share of USD 0.22 Billion in 2018.
- Europe would reach a market share of 26.7% by 2026, having grown at a CAGR of 25.6% in the forecast period. United Kingdom and Germany have the most number of valuable players in this region.
- North America is leading the global market, with 37.6% of market possession in 2018 and would continue dominating the global market with a CAGR of 27.7% during the forecast period. United States possessed the highest market share in the worldwide market.
- APAC is forecasted to achieve the fastest growth of about 32.8% throughout the forecast period, owing to the rise in use of cloud backup solutions, especially the IT & Telecommunication SMEs in countries like China, Singapore, and India.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/cloud-backup-market
For the purpose of this report, Reports and Data have segmented the global cloud backup market on the basis of the type, type of backup, component, type of cloud, organization size, end-use industries, and region:
Type Outlook (Revenue: USD Billion; 2016-2026)
- Solution
- Service
Type of Backup Outlook (Revenue: USD Billion; 2016-2026)
- Full Backup
- Incremental
- Differential
- Periodic Backup
- Mirror Backup
Component Outlook (Revenue: USD Billion; 2016-2026)
- Data Storage
- Data Archiving & Application Hosting
- Cloud Integration & Migration
- Security & Encryption
- Latency & Auto-Scaling
- Support & Maintenance
- Training & Consulting
- Others
Type of Cloud Outlook (Revenue: USD Billion; 2016-2026)
- Public
- Private
- Hybrid
Organization Size Outlook (Revenue: USD Billion; 2016-2026)
- Large Enterprises
- SMEs
End-Use Industries Outlook (Revenue: USD Billion; 2016-2026)
- IT & Telecommunication
- BFSI
- Government & Public Sectors
- Retail & E-commerce
- Media & Entertainment
- Healthcare Sectors
- Manufacturing Industries
- Others
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Regional Outlook (Revenue: USD Billion; 2016-2026)
- North America
- Europe
- Asia Pacific
- MEA
- Latin America
Finally, all aspects of the Cloud Backup market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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