Cloud Backup Market 2018 Size, Share, Growth,Trends and Analysis by Key Leaders: Microsoft, Oracle, Amazon Web Services, Google, Dropbox, Barracuda Networks,Datto, Symantec

The cloud analytics market is rising pervasively over the past couple of years mainly due to the increasing number of business, worldwide. The technology is empowering the businesses to grow exponentially without worrying about the scalar size and the speed the data gets accumulated with or the challenges its bringing along.

Owing to the vital role of cloud analytics play, contributing to the growth of the businesses, its market is growing pervasively with the rapid pace. The proliferation of connected & smart devices, social networks, internal applications, and the scalar size data they generate, escalate the market on the global platform. Similarly, growing businesses augment the market demand for cloud analytics.
Besides, to the factors fostering the market growth include technological advancements and the augmenting uptake of cloud analytics. On the other hand, factors such as safety and security concerns brought about due to the cloud analytics still being in the nascent stage, coupled with the reluctance of the market players for investments inhibit the market growth.

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Major Key Players:

• Oracle Corporation (US),
• Microsoft Corporation (US),
• IBM Corporation (US),
• EMC Corporation (US),
• Amazon Web Services. (US),
• Google Inc. (US),
• Dropbox, Inc. (US.),
• VMware Inc. (US),
• Barracuda Networks, Inc. (US),
• Datto, Inc. (US.),
• CommVault Software (US),
• Symantec Corporation (US),
• Code42 Software, Inc. (US).
Moreover, its solutions such as simple management and monitoring, real-time backup & recovery, simple integration of cloud backup with enterprise's other applications, data de-duplication, customer support, and many others services drive the market growth to an extent.

According to MRFR, The global Cloud Backup market is forecasted to gain prominence over the forthcoming years. The Market is forecasted to reach to USD ~5.66 Billion by 2023 growing with a striking double digit CAGR of ~21.4 % of during the forecast period 2017-2023.

Current Market Trends and developments

Trends such as cloud computing, analytics, online development platforms such as software, gaming and others are expected to create large data backup needs. Cloud is expected to store greater than 55 % of consumer data in the near future.
Advent of big data, growing IT industry, connected data ecosystems; internet of things, growing mobility etc. will drive the demand for cloud storage.
Cloud backup demand from large enterprises expected to be the largest segment of the market
Personal computing trends such as multi operating systems, dual booting, interoperability will create need for greater data storage

Segmentation:

Segmentation By Solution: Comprises Primary storage, Disaster recovery, Cloud storage gateway and backup storage.
Segmentation By Deployment : Comprises Public Cloud, Private Cloud, and Hybrid Cloud.
Segmentation By Organization Size: Comprises SMEs and Large Enterprises
Segmentation By Service: Comprises Training and consulting, Support and maintenance, Cloud integration and migration and Managed services.
Segmentation By End-User : Comprises BFSI, Consumer goods and retail, Education, Government and public sector, Healthcare and life sciences.

Regional Analysis:

North-America is dominating the Global Cloud Backup Market with the largest market share due to the increasing shift of workload to cloud environment. Cloud Backup Market in Asia-Pacific market is expected to grow at a substantial CAGR during 2017 to 2023 owing to the various advantages associated with using cloud storage. Moreover, increasing development of IT infrastructure by organizations, especially in India and China that are adopting new technologies to work efficiently with existing systems and data. The European market for Cloud Backup Market is expected to grow at a considerable CAGR (2017-2023).

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Intended Audience
• Software investors
• Cloud vendors
• Application design and development service providers
• System integrators/migration service providers
• Training and education service providers
• Data integration service providers
• Managed service providers
• Data quality service providers
• Security Management Service Provider
• Security Equipment Providers
• Security Agencies
• System Integrators

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This release was published on openPR.