The global market for cloud based backup services is expected to be worth US$ 3,877.0 million in 2022, rising to US$ 17,550.0 million by 2032. During the forecast period of 2022-2032, the market is expected to grow at a CAGR of 16.3%. Cloud based backup services helps enterprises to back up the data and also help to deliver a copy of data over a public network to an off-site server.
The cloud based backup services plays a vital role in intelligent business continuity policy. Cloud based backup services has several benefits such as security, storage and virtualization which helps organizations to relieve from data security concern associated to cloud computing. The cloud based backup services market is gaining traction rapidly owing to growing demand for big data, social networking and increasing usage data base management solution in enterprise application.
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Cloud Based Backup ServicesMarket: Drivers and Challenges
The increasing demand to reduce organization IT spending is one of the major factor driving the cloud based backup services market. The cloud based backup solution provides application and infrastructure support to organization at very low cost than on premises storage solutions.
The cloud backup services allows customers to manage several virtualized environment and offers disaster recovery. Improved organizational productivity, stringent security and regulatory policies are another factors which are driving the growth of cloud based backup services in positive manner.
Compliance issues and Latency in data transfer are the major restraints faced by cloud based backup services market.
Cloud Based Backup ServicesMarket: Key Players
Some of the key players of cloud based backup services market are: CA Technologies, CommVault, EMC, IBM Corp., Microsoft Corp., Symantec,Acronis International, Actifio Technologies, Asigra Inc., Carbonite Inc., Dell Software, FalconStor Software, HP, NetApp, and Veeam Software.
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Cloud Based Backup ServicesMarket: Regional Overview
Presently, North America is holding largest market share of cloud based back up services owing to increasing competition of public cloud service providers, and enterprise mergers to increase product line and services.
In APAC and EMEA region, the market of cloud based managed services is growing gradually owing to enterprises are developing their IT infrastructure and looking for adopting new technologies in countries like India and China.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
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Key Segments Profiled In the Global Cloud based backup services Market
Cloud based backup services market by enterprise:
- Cloud based backup services for small and medium enterprises
- Cloud based backup services for large enterprises
Cloud based backup services market by end-users:
- Cloud based backup services for IT and telecom
- Cloud based backup services for government
- Cloud based backup services for manufacturing
- Cloud based backup services for BFSI
- Cloud based backup services for retail
- Cloud based backup services for others
Cloud based backup services market by region:
- Cloud based backup services market in North America
- Cloud based backup services market in Latin America
- Cloud based backup services market in Eastern Europe
- Cloud based backup services market in Western Europe
- Cloud based backup services market in APAC
- Cloud based backup services market in Japan
- Cloud based backup services market in MEA
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