Cloud Backup Market Booming the Industries by Ravisisng keyplayers | Amazon Web Services, Barracuda Networks, Code42 Software, Datto, Dropbox, Druva Software, EMC Corporation, Google
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Increasing volume of data is one of the major drivers for growth of the cloud backup market. According to Coherent Market Insights, in 2016, 16.1 zettabyte of data was generated, globally. Moreover, adoption of Internet of Things is increasing the volume of data generated through connected devices. According to Coherent Market Insights, in 2016, the number of connected device was around 6.4 billion, globally. Data from these devices needs to be stored and requires huge storage space. This factor is expected to fuel demand for cloud backup. Rising adoption of Software-as-a-Service platform (SaaS), increasing digitalization, and growing use of cloud technology by small and medium enterprises is also expected to accelerate growth of the cloud backup market.
According to Coherent Market Insights, North America held the dominant position in the global cloud backup market in 2016. The U.S. and Canada are the major economies in North America. Shifting of workload to cloud environment is one of the major factors leading to increasing demand for the cloud backup. In 2015, North America accounted for around 42% of the cloud data center workload, globally. High presence of cloud backup market leaders in North America also fuels the growth of online backup market size in this region. Asia Pacific is projected to increase with the highest CAGR over the forecast period. India, China, and Japan are some of the key economies in this region. Increasing development in IT infrastructure by organizations especially in India and China that are adopting new technologies to work efficiently with existing systems and data. Rising trend of digitization across sectors, especially by small and medium enterprises is expected to fuel growth of market in the region.
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Key Companies- Global Cloud Backup Market.
Some of the major companies in the global cloud backup market include Amazon Web Services, Barracuda Networks, Inc., Code42 Software, Inc., Datto, Inc., Dropbox, Inc., Druva Software, EMC Corporation, Google Inc., IBM Corporation, Microsoft Corporation, Oracle Corporation, Veeam Software, and VMware Inc.
Cloud Backup Market Segmentation:
Banking, Financial Services, and Insurance
Consumer Goods and Retail
Government and Public Sector
Healthcare and Life Sciences
Media and Entertainment
Telecommunication and ITeS
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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