According to IMARC Group’s latest report, titled “Cloud Backup Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global market reached a value of US$ 3.2 Billion in 2020. Cloud backup, or online backup, refers to the method of uploading data to a remote, cloud-based server. It provides solutions for data and applications with the help of a network or internet connection to a physical and virtual backup service. The service offers cloud computing resources to create, edit, manage and restore data and application backup. It supports the data stored in and accessed from multiple distributed and connected resources, consuming lesser bandwidth to transfer data over the public cloud. As a result, cloud backup is extensively employed by companies, hosting providers, and cloud service providers.
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The global cloud backup market is primarily driven by the increasing volume of data generated across various industries. The adoption of cloud backup services is also facilitated by the emerging trend of Bring-Your-Own-Device (BYOD), which generates a massive amount of data. Cloud backup solutions are used for simple management and monitoring, real-time backup and recovery, data duplication, as well as customer support. The rising adoption of Software-as-a-Service (SaaS) among SMEs and the growing prevalence of hybrid cloud is also propelling the market growth. Furthermore, the outbreak of the COVID-19 pandemic has resulted in remote working due to stringent lockdown measures initiated by governments, which has escalated the demand for cloud backup solutions across the globe. Looking forward, IMARC Group expects the cloud backup market to grow at a CAGR of 24.4% during 2021-2026.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- Acronis International GmbH (Acronis AG)
- Amazon Web Services Inc. (Amazon.com Inc.)
- Asigra Inc.
- Barracuda Networks Inc. (Thoma Bravo LP)
- Carbonite Inc. (OpenText Corporation)
- Code42 Software Inc.
- Datto Inc.
- Dropbox Inc.
- International Business Machines Corporation
- Microsoft Corporation
- Oracle Corporation
- Veeam Software GmbH
- Vmware Inc. (Dell Technologies).
- Solutions
- Services
- Cloud Service Provider
- Telecom and Communication Service Provider
- Managed Service Provider
- Others
- Large Enterprises
- Small and Medium Enterprises
- Public Cloud
- Private Cloud
- Hybrid Cloud
- BFSI
- Consumer Goods and Retail
- Education
- Government and Public Sector
- Healthcare and Life Sciences
- Manufacturing
- Media and Entertainment
- Telecommunication and ITES
- Others
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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