Global Cloud Backup Solutions Market

Cloud Backup Solutions Market Insights

The global cloud backup solutions market is anticipated to grow at an exponential rate over the forecast period. The cloud backup solutions is widely accepted by a large number of end users as it provides automated, reliable, cost-effective, secure, and scalable solutions to enterprises and also ensures business continuity in the event of any mishap.

Cloud backup solution is the process of backing up of data in case of a loss.  Internet of Things installations’ will generate huge volume of data. The companies decide which types of IoT-related data should be backed up in the cloud for safekeeping, according to their requirements. The advanced backup system with analytics application prioritizes cloud backup solutions and ensures the right data is readily available whenever required.

The demand for cloud backup solution is likely to increase significantly over the forecast period, due to the growing number of cyber threats and vulnerabilities across the globe.

Cloud Backup Solutions Market: Data Backup Insights

The global cloud backup solutions market is segmented into Hybrid cloud backup solutions and Direct-to-cloud backup solutions based on data backup methods.

Direct-to-cloud backup segment is anticipated to witness a lucrative CAGR over the forecast period as it is highly efficient. In this system, the users directly send data to the cloud, bypassing the need for a local device. The data is backed up in a remote data center, without any local copy.

Hybrid cloud backup solution is likely to grow at a moderate rate over the coming years. In this system, the data is backed up in both local devices as well as in a secure offsite data centre.

Cloud Backup Solutions Market: Deployment Model Insights

The global cloud backup solutions market is classified into Public, Private and Hybrid, based on deployment model.

The cloud backup system plays a vital role in intelligent business continuity strategy. The public cloud segment is likely to register a significant CAGR over the forecast period owing to its better utilization rate and greater economies of scale.

The hybrid cloud segment is also anticipated to grow at a substantial rate as it alleviates data security concerns related to cloud computing. The other benefits associated with hybrid cloud solution include security, storage, savings, and virtualization.

Moreover, many small and midsize enterprises are developing their own private cloud infrastructure to meet their internal computing and storage and backup requirements.

Cloud backup Solutions Market: Organization Size Insights

The global cloud backup solutions market is segmented into Small & Medium-Sized Enterprises and Large Enterprises. The increase in the adoption rate of cloud-based solutions among Small and Medium-sized Enterprises (SMEs) is anticipated to boost the global cloud backup solutions market over the coming years.

Cloud Backup Solutions Market: Applications Insights

The global cloud backup solutions market is classified into BFSI, Consumer Goods & Retail, Government & Public Sector, Healthcare & Life Sciences, Manufacturing, Media & Entertainment, and Telecommunication, based on applications.

Manufacturing sector accounted for a dominant market share in 2016 and is further anticipated to register significant CAGR over the forecast period.  Factors such as rising demand for secure & efficient data access coupled with storage solution and low cost is anticipated to boost the growth of this segment over the coming years.

Cloud Backup Solutions Market: Regional Insights

North America accounted for a significant market share in 2016. The market in Asia Pacific is expected to witness highest CAGR over the forecast period. The regional growth is primarily attributed to the development of their IT infrastructure and manufacturing sector. The industries, particularly from China and India are gradually exploring new technologies and capabilities to make full use of their existing systems and data. However, the growing number of many SMEs and large organizations in this region is projected to contribute to the growth of the market over the forecast period.

Cloud Backup Solutions Market: End-Use Landscape

The end-use landscape includes a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase products from the cloud backup solutions market. The major consumers of the product are AT&T Inc. and ICBC among others.

Cloud Backup Solutions Market: Competitor Analysis

Some of the leading vendors profiled in the global cloud backup solutions market include Microsoft, Datto, Inc., Veritas Technologies, Dell EMC, IBM, Veeam, Commvault, and HPE, Arcserve among others.

Please note: This is not an exhaustive list of companies profiled in the report.