This market research report includes a detailed segmentation of the global cloud backup and recovery software market by end-user (BFSI, manufacturing, information and communication technology, and others). It outlines the market shares for key regions such as the Americas, EMEA, and APAC. The key vendors analyzed in this report are CA Technologies, CommVault, EMC, IBM, Microsoft, and Symantec.
Technavio’s market research analysts estimate the global cloud backup and recovery software market, to grow at a CAGR of 13% between 2016 and 2020. Cloud backup or online backup is a method of backing up data and involves sending a copy of the data over a public or proprietary network to an off-site server. It provides several benefits of security, storage, savings, and virtualization, which ease the transition to a hybrid cloud solution for enterprises and alleviate data security concerns related to cloud computing. APAC is expected to be the fastest-growing region in the cloud backup and recovery software market. Organizations in APAC, especially in India and China, are gradually developing their IT infrastructure and are looking for new technologies and capabilities to extract the full potential of their existing systems and data.
The new market research report from Technavio provides a breakdown and analysis of the cloud backup and recovery software segments by technology.
“The market is witnessing the emergence of infrastructure as a service (IaaS) and on-demand cloud providers like Amazon Web Services, which is paving way for new virtualization strategies. Most enterprises are adopting these strategies to eliminate infrastructure limitations by developing and deploying applications on a single piece of hardware. Enterprises are finding the cloud backup and recovery strategy attractive, as it allows them to achieve more for virtually the same budget. Also, the cloud backup helps enterprises restrict the highly critical applications to on-premises infrastructure, so enterprises need not compromise their security and compliance requirements,” says Amrita Chaudury, Lead Analyst, ICT, Technavio Research.
Manufacturing sector dominates this market, accounting for 24% of the overall market share. With increasing adoption, there are various new applications being developed and deployed to cater to the growing demands from end-user segments. Cloud backup solution providers are developing different applications with complex computing capabilities, which can provide better results than on-premises solution providers. Many small and midsize enterprises are establishing their own private cloud infrastructure to cater to their internal computing and storage and backup requirements.
The key vendors in the global cloud backup and recovery software market include CA Technologies, CommVault, EMC, IBM, Microsoft, and Symantec. Numerous large and medium-sized vendors dominate the global cloud backup and recovery software market. Bigger companies are acquiring smaller companies to increase their product line and services, thereby increasing their market share. The global cloud backup and recovery software market is in its growth stage, and many private cloud storage vendors are entering this market, increasing the competition for public cloud storage providers.
A more detailed analysis is available in the Technavio report, Global Cloud Backup and recovery Software Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
- Global Stand-Alone Cloud Storage Market- Industry Analysis 2015-2019
- Global Public and Private Cloud Storage Market 2015-2019
- Global Cloud Storage Gateway (CSG) Market 2015-2019
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