Increasing demand for cloud backup in the IT & telecommunication sectors, coupled with high investments in R&D of cloud backup, are fueling the market growth.
The global Cloud Backup Market is forecast to reach USD 10.04 Billion by 2026, according to a new report by Reports and Data. The cloud backup solutions provide a virtual remote server storage for the data and applications of any businesses or individuals. Most organizations opt to back up all the important business and operational data to the cloud to keep them readily available in case of a system failure, outage or any unpleasant disaster. The cloud server backup has been compulsory for most of the organizations for their critical data and a virtual storage server for remote accessibility. The global cloud backup market is growing predominantly as the amount of data is being elevated globally. The inclination towards digitization across all the industry verticals have been the primary reason the cloud backup solution is earnestly demanded. SMEs are forecasted to contribute remarkably in the forecast period due to a massive adoption of the cloud deployment for their internal data and applications. APAC is forecasted to achieve the fastest growth of about 32.8% in the period 2019 – 2026, due to an increase in the cloud deployment of data in the countries like China, Singapore, and India. North America holds the highest market share of 37.6% in 2018 because of the prodigious rate of deployment of the cloud backup solutions.
Key participants include Microsoft Corporation, Amazon.com, Barracuda Networks, Hewlett Packard Enterprise Development, NetApp, Acronis International Gmbh, IBM Corporation, Efolder, Inc., Datto, Inc., and Code42 Software, Inc.
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Further key findings from the report suggest
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/cloud-backup-market
For the purpose of this report, Reports and Data have segmented the global cloud backup market on the basis of the type, type of backup, component, type of cloud, organization size, end-use industries, and region:
Type Outlook (Revenue: USD Billion; 2016-2026)
Type of Backup Outlook (Revenue: USD Billion; 2016-2026)
Component Outlook (Revenue: USD Billion; 2016-2026)
Type of Cloud Outlook (Revenue: USD Billion; 2016-2026)
Organization Size Outlook (Revenue: USD Billion; 2016-2026)
End-Use Industries Outlook (Revenue: USD Billion; 2016-2026)
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Regional Outlook (Revenue: USD Billion; 2016-2026)
Finally, all aspects of the Cloud Backup market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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