Global Cloud Backup Market Future Growth Study, Industry Key Growth Factor Analysis and Competitive Landscape

 

Market Highlights

The cloud backup market is set for a good time ahead owing to the factors such as offering solutions for making right and informed decisions to achieve the desired outcomes, providing storage, savings, security, and virtualization to a hybrid cloud solution for saving data. These factors have come up to be essential ones that are driving the market to reach great extent in the coming years.

Market Research Future study discloses that the global cloud backup is expected to achieve an unprecedented CAGR of 21.2% during the prediction period between 2017 and 2023. The market is also set to reach a valuation of USD ~$5.6 Billion in the same period and is expected to rise more in valuation in the coming years. The extensive study on the same market has also covered segmental analysis and factors in detail to offer a holistic picture of the market in the coming years.

The study also indicates that the market is also driven by the factors of lower costs, vast volumes of data generation, and greater efficiency than on-premises backup as well as growing SaaS adoption across the globe. Moreover, the surge in the adoption of mobile devices and easy deployment of cloud backup technology is also boosting the cloud backup market over the years. As an add on to it, the market is categorized by its growth phase and occurrence of a large number of small and mid-size retailers.

On the other hand, the significant players are also rapidly adopting strategies such as acquisition and partnership to increase their product lines and services to expand the market size and valuation. In a case of point, Amazon web services Inc. acquired Elemental Technologies Inc. in September 2015 for backing up its all essential data to a safer side. Such factor has also fundamentally driven the market to rise and reach a higher valuation. Such a move is now will go ahead and is expected to achieve more during the forecast period.

On the flip side, factors such as data accessibility with the help of internet pose as a threat of identity, which is considered to be a restraint to the market growth. With this, other factors such as lack of high network bandwidth and strict government rules could also limit the adoption of cloud-backup techniques during its growth period while the growth in the number of mobile Internet users and requirement of technologically advanced solutions are likely to boost the market growth further during the assessment period.

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Key Players

The well-known players in the Cloud Backup Market are listed as Symantec Corporation (US), EMC Corporation (U.S), Oracle Corporation (U.S), VMware Inc. (U.S), IBM Corporation (U.S), Dropbox, Inc. U.S.), Amazon Web Services. (U.S), Microsoft Corporation (U.S), Google Inc. (U.S), CommVault Software (U.S), Datto, Inc. (U.S.), Barracuda Networks, Inc. (US), Code42 Software, Inc. (US), and to name a few.

Regional Outlook

The regional analysis of the Cloud Backup market is studied among the key regions of North America, Europe, Asia Pacific, and the Rest of the World. 

The study observed that the North America region is the leading region for cloud Backup market. It is notable the United States that plays a pivotal role in the world of cloud backup. Any alteration from United States might affect the development trend of Cloud Backup.

The study reveals that the Europe region is showing rapid growth in the Cloud Backup market.

Asia-Pacific countries like China, Japan, and India are estimated to experience the fastest-growing region in the Cloud Backup market owing to the expanding size of high data generation in many countries. The study also indicates that the Asia-Pacific will inhabit more market share in following years, especially in China, which is even fastly-growing after India and Southeast Asia regions.

Segmentation:

On the basis of segmentation, the global cloud backup market splits into several elements of solutions, services, deployments, organization size, and end-user.

In terms of Solutions: Primary storage, Disaster Recovery, Cloud storage gateway and more are the segments.

In terms of services: Training and consulting, Support and maintenance, Cloud integration and migration, and Managed Services are the segments.

In terms of Deployments: Public Cloud, Private Cloud, and Hybrid Cloud are the segments.

In terms of organization size: Small and Medium Enterprises (SMEs) and Large Enterprises are the segments.

In terms of 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 are the segments.

Industry News

October 2019:

• Famous Australian-based animation and visual effects studio namely Animal Logic, partnered with Alibaba Cloud to begin with backing-up on-premise production content into the cloud. The aim is to meet the mounting demand for media production.
• NetApp announced a range of diverse backup and recovery products as well as updates to existing solutions, including Cloud Backup Service, Azure NetApp Files Backup, and NetApp SaaS Backup.

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Cloud Backup Market, By Solution (Primary storage, Disaster recovery and backup storage), By Deployment (Public Cloud, Private Cloud), By Organization size (SMEs and Large Enterprises), By End-User (BFSI, Consumer goods and retail, Education) - Forecast 2023

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