The global cloud backup market is forecast to reach USD 15.08 Billion by 2028, 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.
APAC is forecasted to achieve the fastest growth of about 32.8% in the period 2019 – 2026, due to the increasing cloud deployment of data in countries like China, Singapore, and India. North America holds the highest market share of 37.6% in 2018, mainly because of the prodigious rate of deployment of cloud Periodic Backup solutions.
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The global cloud backup market is currently experiencing significant growth, driven primarily by the exponential increase in data volume on a global scale. This surge in data generation is a direct result of the widespread shift towards digitization across various industry verticals. As organizations across the board embrace digital technologies, they are generating and accumulating vast amounts of data, ranging from customer information to operational data and beyond. This growing digital transformation has propelled the demand for cloud backup solutions to secure and manage this invaluable data effectively.
One of the key drivers behind the adoption of cloud backup solutions is the desire to reduce reliance on physical storage devices within organizations. Traditional data storage solutions, such as on-premises servers and external hard drives, not only incur significant hardware costs but also require maintenance, physical space, and are vulnerable to data loss due to various reasons. Cloud backup offers an attractive alternative, as it eliminates the need for these physical storage devices, resulting in cost savings and greater operational efficiency.
Additionally, the escalating concern over ransomware threats has played a pivotal role in promoting the adoption of cloud backup services. Ransomware attacks can result in data encryption or theft, making data recovery a crucial concern for businesses. By backing up critical files and data on cloud servers, organizations can significantly enhance their data security and resilience against such threats, ensuring business continuity and data integrity.
Small and Medium-sized Enterprises (SMEs) are expected to make a substantial contribution to the cloud backup market in the forecast period. SMEs, often with limited IT resources, have recognized the advantages of cloud deployment for safeguarding their internal data and applications. Cloud backup solutions offer them scalability, cost-effectiveness, and accessibility, making them an ideal choice for businesses of this size.
Furthermore, the market is witnessing the emergence of hybrid cloud backup solutions, offered by prominent players in the industry. Hybrid servers combine on-premises infrastructure with cloud-based services, allowing organizations to maintain control over critical data while also benefiting from the flexibility and scalability of the cloud. As these hybrid solutions gain traction, they are projected to capture a significant portion of the market share by the end of the forecast period.
In summary, the global cloud backup market is on a growth trajectory, fueled by the increasing volume of data, the digital transformation wave across industries, the desire to reduce physical storage costs, and the pressing need to protect against ransomware threats. SMEs and hybrid cloud solutions are poised to play a pivotal role in shaping the market's landscape in the foreseeable future.
some leading companies operating in the global Cloud Backup Market:
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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The global market is further segmented into type and application:
Type Outlook (Revenue: USD Billion; 2018-2028)
- Solution
- Service
Type of Periodic Backup Outlook (Revenue: USD Billion; 2018-2028)
- Periodic Periodic Backup
- Incremental
- Differential
- Periodic Periodic Backup
- Mirror Periodic Backup
Component Outlook (Revenue: USD Billion; 2018-2028)
- Data Storage
- Data Archiving & Application Hosting
- Cloud Integration & Migration
- Security & Encryption
- Latency & Auto-Scaling
- Support & Maintenance
- Training & Consulting
- Others
Type of Cloud Outlook (Revenue: USD Billion; 2018-2028)
- Public
- Private
- Hybrid
Organization Size Outlook (Revenue: USD Billion; 2018-2028)
- Large Enterprises
- SMEs
End-Use Industries Outlook (Revenue: USD Billion; 2018-2028)
- IT & Telecommunication
- BFSI
- Government & Public Sectors
- Retail & E-commerce
- Media & Entertainment
- Healthcare Sectors
- Manufacturing Industries
- Others
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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