Cloud Backup Global Market | expected to grow at USD $5.6 Billion by 2023

Market Highlights:

Microsoft Corporation (U.S), Oracle Corporation (U.S), IBM Corporation (U.S), Amazon Web Services. (U.S), Dell-EMC Corporation (U.S), Google Inc. (U.S), VMware Inc. (U.S), Dropbox, Inc. U.S.), Barracuda Networks, Inc. (U.S.), CommVault Software (U.S), Datto, Inc. (U.S.), Symantec Corporation (U.S.), Code42 Software, Inc. (U.S.) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Cloud Backup Market.

With the rise in data explosion, many organizations have supported the need for replication of data as backup and frequent data protection. Challenges such as server collapse and mismanagement of large company data have forced organizations to look for a substitute for traditional backups, as these are costly to maintain and require continuous monitoring. These challenges of traditional backups have resulted as the major driving force for the cloud backup market.

Apart from it, a trend which is boosting market growth is the availability of cloud backup for virtual machines. Virtualization is now becoming an integral part of IT infrastructure. Many enterprises have committed to pursue virtualization over the next few years. The technology offers many business benefits, including rapid provisioning and better utilization of system resources. Many organizations are seeking to implement agentless solutions for the backup and recovery.

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Industry News
Nov. 2017 - HPE is announced general availability for HPE Cloud Bank Storage. Cloud Bank Storage enables new cloud capabilities for HPE StoreOnce. It would provide seamlessly, securely, and cost-effectively move backup data to the public, private, hybrid cloud or on-premises object storage—enabling long-term retention, archive and reliable disaster recovery that is simple and efficient.
Dec. 2017 - Jungle Disk announced acquisition of SafetyNet, the first backup for QuickBooks Online, from Jobber, a cloud and mobile software platform for home service businesses, at QuickBooks Connect Toronto. This acquisition would enhance Jungle Disk’s data security suite, adding high-quality cloud-to-cloud backup for QuickBooks Online storing a safe, second copy of a small business’s critical financial records.

Competitive Analysis

The Market of Cloud Backup appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through extensive research and development. Competitors are also focusing towards customer satisfactions and innovation as the major focus for maintaining the market positions. A large number of startups are targeting small and medium business to provide budget friendly and effective cloud backup solutions. On the other hand, large players are focusing towards hybrid cloud solutions and special storage solutions for virtual machines and deduplication options among others. Recently, a start-up named Datrium is readying a new Cloud DVX option for Amazon Web Services to provide customers with an off-site option for backup and disaster recovery. The Datrium DVX storage system for VMware virtual machines (VMs) consists of compute nodes and storage nodes. DVX Compute Nodes uses server-based flash cache to accelerate data reads, and DVX Data Nodes store data that has been compressed and globally deduplicated.

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Cloud Backup Global Market - Segmentation

The Cloud Backup Market can be segmented in to 6 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Solutions: Primary storage, Disaster recovery, Cloud storage gateway and others.
Segmentation By Services: Training and consulting, support and maintenance, cloud integration and migration, managed services
Segmentation by Deployments: Public Cloud, Private Cloud, Hybrid Cloud
Segmentation by Organization Size: Small and Medium Enterprises (SMEs), Large Enterprises
Segmentation by End-User: BFSI, consumer goods and retail, education, government and public sector, healthcare and life sciences, manufacturing, media and entertainment, telecommunication and ITES and others.
Segmentation by Regions : Comprises Geographical regions - North America, Europe, Asia Pacific and Rest of the world.

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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