Cloud Backup Market - The Availability Cloud Backup For Virtual Machines
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The generation of humongous amounts of data and the need for lowering costs are helping the cloud backup market to grow. The rising adoption of SaaS and better efficiency of cloud backup than on-premises backup will also boost the growth of this market.
The demand for cloud backup is driven by many factors, such as huge volumes of data generation, lower costs and greater efficiency than on-premises backup, and growing adoption of SaaS. With an increase in the adoption rate of cloud computing among enterprises, the cloud backup market is expected to gain a major traction during the forecast period.
One of the key trends which is accelerating the growth of the global cloud backup market is the availability cloud backup for virtual machines, which has become an integral part of the it infrastructure. Many enterprises are striving to achieve virtualization in the next few years as this technology offers several benefits such as better utilization of system resources and a rapid provisioning. Another trend which is influencing the market for cloud backup in a positive manner is the growing adoption of mobile technology, cloud computing, and web-based applications, in both commercial as well as Industrial sectors.
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The fear among businesses and enterprises regarding loss of data, which can create significant negative impact on businesses, resulting in loss as well as production and productivity remains the primary factor behind the growth of the cloud backup market.
On the basis of end-user, this market is segmented into BFSI, telecommunication, government, and it sector. Of these, the government sector is one of the key users of cloud backup. By service, this market is segment into software as a Services, platform-as-a-service, integration is a service, and infrastructure-as-a-service. On the basis of solution type, this market is segmented into training and consulting, cloud integration and migration, managed services, and support and maintenance.
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