Cloud Backup Market Report | Growth Projections & Advanced Technologies with Forecast To 2025
Cloud backup is also referred to as online backup or remote backup. It is a strategy of backing up of data that involves sending a copy of the data over a proprietary or public network to an off-site server. It is type of service through which cloud computing resources and infrastructure are used to create, edit, manage, and restore data, services or application backup. This process is done remotely over the internet. Moreover, cloud backup is mainly used on an organization’s data through an offsite and remote cloud storage platform. It is a managed service where the whole infrastructure and supporting services are managed fully by vendor. Besides, data backup, cloud backup is combined with disaster recovery solutions and may also provide an exact instance of a server, desktop, or entire system.
The generation of humongous amounts of information and the necessity of lowering cost are helping the market to grow. The increasing adoption of SaaS and better efficiency of cloud backup than on-premises backup will also propel the growth of the market. Moreover, the other factors responsible for boosting the growth of market includes huge volumes of data generation and growing adoption rate of cloud computing among enterprises. However, compatibility concerns for certain applications with cloud environment may hamper the growth of the market. Moreover, the opportunities that can strengthen the growth of market includes increasing adoption among SMES, high adoption rate of hybrid cloud considered to transform the market. Additionally, the market has to face various different challenges such as growing complexities of bandwidth limitations and difficulty in achieving compliance.
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On the basis of segmentation of the global cloud backup market, it is bifurcated into various segments such as by component, by service provider, by deployment model, by organization size, by vertical, and by region.
According to the component segment, the market is split into solution and service. The service segment is further bifurcated into training & consulting, support & maintenance, and system integration.
Based on the service provider, the market is divided into cloud service provider, telecom & communication service provider, managed service provider, and others.
On the basis of deployment type, it is segmented into public cloud, private cloud, and hybrid cloud.
The organization size segment is bifurcated into large enterprises and small & medium-sized enterprises (SMEs).
Based on the vertical segment, the market is bifurcated into education, BFSI, manufacturing, media & entertainment, and others.
According to the geographical overview, the market is divided into various regions such as North America, Europe, APAC, and LAMEA. North America is considered to be the leading region for this market. Cloud emergence and mandatory government regulations are helping to boost the market. APAC is considered to be the fastest growing region. Additionally, Europe is another region which is expected to be lucrative for cloud backup on account of rise in the focus towards securing data.
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On the basis of competitive analysis of market, it is bifurcated into some of the major players such as Acronis International GmbH, Asigra Inc., Barracuda Networks, Inc., Carbonite, Inc. , Code42 Software, Inc., Datto, Inc., Druva Software, International Business Machines Corporation, Iron Mountain Incorporated, Microsoft Corporation, Oracle Corporation, and Veeam Software.
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