Press release
Cloud Backup Market 2021-2026: Trends, Scope, Demand, Opportunity and Forecast
The Cloud Backup Market report offers an in-depth assessment of market dynamics, the competitive landscape, segments, and regions in order to help readers to become familiar with the Cloud Backup market. It particularly sheds light on market fluctuations, pricing structure, uncertainties, potential risks, and growth prospects to help players to plan effective strategies for gaining successful in the Cloud Backup market. Importantly, it allows players to gain deep insights into the business development and market growth of leading companies operating in the Cloud Backup market.The Cloud Backup Market is expected to register a CAGR of approximately 24% during the forecast period (2021 - 2026).
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Top Leading Companies of Cloud Backup Market are - IBM Corporation, Dell EMC, Backblaze Inc., Acronis International GmbH, Arcserve LLC, Rubrik, Veritas Technologies, Barracuda Networks, Inc., Carbonite, Inc., Commvault Systems, Inc., Cohesity, Inc. and others.
Industry News and Updates:
- June 2020 - Otava extended its cloud solution by adding Otava Cloud Backup for Microsoft 365. The new Software as a Service (SaaS) offering provides a backup service powered by Veeam for users of Microsoft 365 online applications.
- April 2020 - Veeam Software collaborated with Microsoft Azure to provide its New Veeam Backup, an enterprise-ready cloud backup and recovery solution for Microsoft Azure. The new offering will enable customers and service providers to move more applications and data to Azure and to cost-effectively, securely, and easily protect cloud applications and data in Azure.
Key Market Trends:
BFSI Expected to Exhibit Maximum Adoption
- The Banking Industry is rapidly adopting digital banking and investment solutions, which is also augmenting the demand for cloud computing in the BFSI industry. It provides greater business agility and scalability to the organizations in the industry. Several financial service organizations are migrating to cloud solutions to deliver innovation, customization, and security to gain a competitive edge.
- According to Capgemini, cloud solutions are helping the banks to significantly cut expenses by slashing infrastructure costs by a quarter and potentially saving about USD 15 billion by 2019. Hence, many vendors are providing IaaS and PaaS applications to eliminate the need to manage to host, maintaining, updating, and scaling service operations. These trends are expected to boost further the adoption of cloud backup solutions in the BFSI industry.
North America Expected to Dominate the Market
- With the presence of market leaders in the region and with the early adoption of technologies across various end-user verticals, North America stood as the leading regional market and is expected to continue its dominance throughout the forecast period. Also, early adoption of new technologies, considerable investments in R&D for the cloud-based solutions, and enhanced IT infrastructure are expected to drive the market growth further.
- Moreover, low-cost, secure, and enhanced backup resources provided by the regional market players are expected to drive the dominance in the region further. In September 2019, IBM Cloud made additional price reductions on a selected virtual server, storage, backup, and network port speed pricing to help various organizations in further reducing their cloud infrastructure costs.
Investigator Observers Strong Growth in Specific Regions:
– Europe Market (Germany, UK, France, Russia, Italy)
– Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)
– South America Market (Brazil, Argentina, Colombia)
– North America Market (United States, Canada, Mexico)
– Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).
The Latest Industry Data Included in this Report:
- Cloud Backup Market Size & Analysis (2016 - 2026)
- Market Share Analysis of Cloud Backup Market (%),2016 - 2026
- Cloud Backup Market Share, By Brand
- Cloud Backup Market Share, By Company
- Cloud Backup Market Assessment & Opportunity (Value),2016 - 2026
- Major Companies Cloud Backup Market Value Analysis & Forecast
- Promising Cloud Backup Development by Major Companies
- Detailed Cloud Backup Portfolio of the Major Companies
- Major Deals in the Cloud Backup Market
- Major Companies Analysis
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https://www.marketinsightsreports.com/reports/02082593285/cloud-backup-market-growth-trends-covid-19-impact-and-forecasts-2021-2026?Mode=namita
We Offer Customization on Report Based on Specific Client Requirement:
- Country Level analysis for any 5 countries of your choice.
- Competitive analysis of any 5 key market players.
- 40 analyst hours to cover any other data point.
Contact Us:
Irfan Tamboli (Head of Sales) – Market Insights Reports
Phone: + 1704 266 3234 | +91-750-707-8687
sales@marketinsightsreports.com | irfan@marketinsightsreports.com
About Us:
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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