Global Cloud Backup & Recovery Market Forecast to 2028
The global cloud backup and recovery market is expected to reach a market size of USD 20.69 Billion by 2028 and register a high revenue CAGR, according to the latest analysis by Emergen Research. Increasing cloud computing adoption by organizations is projected to drive global cloud backup and recovery market growth during the forecast period. In addition, growing demand for remote data backup and restoration to enhance business outcomes is expected to augment global cloud backup and recovery market growth. Furthermore, increasing adoption of Infrastructure as a Service (IaaS) cloud computing is expected to further accelerate the growth of the global cloud backup and recovery market going forward. Rising adoption of cloud computing among SMEs is also expected to propel the growth of the market in the future.
Together with qualitative and quantitative assessments, the report’s authors have provided forecasts for the Cloud Backup & Recovery market. Two of the most important parts of this study are the SWOT analysis and Porter’s Five Forces analysis, which reveal how intensely competitive the industry is. The comprehensive study of the worldwide Cloud Backup & Recovery market in the report takes into account markets in North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa. This study looks at additional significant characteristics of regional markets in addition to revenue growth drivers, constraints, production consumption patterns, altering consumer tastes, and tight regulatory standards.
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The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Cloud Backup & Recovery market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Companies Profiled in the Report are:
Microsoft Corporation, Veritas Technologies LLC, Carbonite, Inc., Actifio, Inc., Acronis International GmbH, Broadcom Inc., CommVault Systems, Inc., International Business Machines Corporation, Redstor Limited, and Rackspace, Inc.
Research Report on the Cloud Backup & Recovery Market Addresses the Following Key Questions:
Who are the dominant players of the Cloud Backup & Recovery market?
Which regional market is anticipated to have a high growth rate over the projected period?
What consumer trends and demands are expected to influence the operations of the market players in the Cloud Backup & Recovery market?
What are the key growth drivers and restraining factors of the Cloud Backup & Recovery market?
What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
What is the overall impact of the COVID-19 pandemic on the Cloud Backup & Recovery market and its key segments?
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Key Highlights of Report
Increasing adoption of hybrid cloud platform among enterprises is driving revenue growth of the hybrid segment currently, which is expected to register a significantly high CAGR of 14.0% over the forecast period.
In terms of market revenue, the SME segment is expected to register steady growth during the forecast period due to increasing implementation of cloud computing in small and medium enterprises to reduce operational costs.
BFSI segment is expected to account for the largest revenue share as compared to other end-use segments during the forecast period due to increasing implementation of cloud backup & recovery solutions in the banking industry.
Due to rapid adoption of cloud technology across various sectors in countries in Asia Pacific, the market in the region is expected to register significant growth in terms of revenue share during the forecast period.
Market Segmentations of the Cloud Backup & Recovery Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2021 and 2028. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Cloud Backup & Recovery market on the basis of product, application, and region:
Segments Covered in this report are:
Type Outlook (Revenue, USD Billion; 2021–2028)
User Type Outlook (Revenue, USD Billion; 2021–2028)
End-use Outlook (Revenue, USD Billion; 2021–2028)
Telecommunication & IT
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Regional Landscape section of the Cloud Backup & Recovery report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key reasons to buy the Global Cloud Backup & Recovery Market report:
The latest report comprehensively studies the global Cloud Backup & Recovery market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
The report offers an insightful analysis of the regional outlook of the market.
It offers a detailed account of the end-use applications of the products services offered by this industry.
The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
In conclusion, the Cloud Backup & Recovery Market report is an exhaustive database that will help readers formulate lucrative strategies. The Cloud Backup & Recovery Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.
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