Market Highlights
The Cloud Backup Market is growing rapidly over ~ 21% of CAGR and is expected to reach at USD ~$5.66 billion by the end of forecast period. The study indicates that the increasing demand of the secure storage and backing up the data on cloud is a key driver for Cloud Backup market. The study signifies that a trend of high adoption of Cloud computing boosting the cloud backup market. It also reveals that with the increase in the adoption of cloud backup among enterprises cloud service will be growing fast in the forecast periods. The study reveals that Cloud Backup is trending in North America region. The Cloud Backup Market is driven by the innovation and advancements in cloud computing technologies that is the virtual data backup and also developing new applications for the convenience to the backup system and it is cost effective as well.
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Major Key players
Microsoft Corporation (U.S)
Oracle Corporation (U.S)
IBM Corporation (U.S)
Amazon Web Services. (U.S)
EMC Corporation (U.S)
Google Inc. (U.S)
VMware Inc. (U.S)
Dropbox, Inc. (U.S.)
Barracuda Networks, Inc. (US)
Veeam Software (Switzerland).
Datto, Inc. (U.S.)
Druva Software (US)
Code42 Software, Inc. (US)
Regional Analysis:
On geographic basis, Cloud Backup Market Trends are studied in different regions as North America, Europe, Asia-Pacific and Rest of world. It has been observed that North America region is leading Cloud Backup in the market and is expected to grow with a high rate as well as hold the largest market share. In the Europe region there has been a major focus onto the online secure data storage system and is expected to gain a major traction during the forecast period. The study shows that developing economies in Asia Pacific region like China, Japan, India and others has a significantly growing well in Cloud Backup market.
Segmentation:
The Cloud Backup Market has been segmented on the basis of solution, services, deployment, end-user and region. Looking through the end-user segment it has been observed that telecommunication and IT sector is showing a rapid growth of usage of the Cloud Backup. The study indicates that the BFSI and government sector is also showing a positive sign in graph in term of high usage of cloud backup.