Cloud Backup Market Outlook
The global cloud backup market reached a value of US$ 3.0 Billion in 2021. Cloud backup is a strategy that supports the data protection of an enterprise without increasing the workload of the information technology (IT) staff. The backup helps send file copy to an off-site or secondary location for preservation in case of hardware/software failures or unforeseen disasters.
The global cloud backup market reached a value of US$ 3.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 9.2 Billion by 2027, exhibiting a CAGR of 20.41% during 2022-2027.
The third-party service provider hosts the server and charges the user a fee depending on the storage space or capacity used, the number of times the data has been accessed, and the data transmission bandwidth.
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Cloud Backup Market Trends:
Cloud backup is cost-effective and offers greater efficiency than on-premises backup. This, in turn, represents one of the key factors accelerating market growth. Furthermore, the rapid surge in the volume of data generated across various industries and the availability of cloud backup for virtual machines are some other growth-inducing factors. In line with this, the widespread adoption of the software as a service (SaaS) model and growing utilization of mobile devices are also providing lucrative opportunities to the leading players.
Additionally, enterprises are now focusing on achieving virtualization as it offers umpteen benefits, such as better utilization of system resources, which is creating a positive outlook for the market. Apart from this, the emergence of new technologies, such as the Internet of Things (IoT), big data, and artificial intelligence (AI), supported by the robust security provided by cloud backup, are boosting the market growth.
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Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.
Competitive Landscape with Key Players:
- Acronis International GmbH (Acronis AG)
- Amazon Web Services Inc. (Amazon.com Inc.)
- Asigra Inc.
- Barracuda Networks Inc. (Thoma Bravo LP)
- Carbonite Inc. (OpenText Corporation)
- Code42 Software Inc.
- Datto Inc.
- Dropbox Inc.
- International Business Machines Corporation
- Microsoft Corporation
- Oracle Corporation
- Veeam Software GmbH
- Vmware Inc. (Dell Technologies).
Breakup by Component:
- Solutions
- Services
Breakup by Service Provider:
- Cloud Service Provider
- Telecom and Communication Service Provider
- Managed Service Provider
- Others
Breakup by Organization Size:
- Large Enterprises
- Small and Medium Enterprises
Breakup by Deployment Mode:
- Public Cloud
- Private Cloud
- Hybrid Cloud
Breakup by Vertical:
- BFSI
- Consumer Goods and Retail
- Education
- Government and Public Sector
- Healthcare and Life Sciences
- Manufacturing
- Media and Entertainment
- Telecommunication and ITES
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
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