Albany, NY -- (SBWIRE) -- 03/16/2016 -- A report recently added to the repertoire of MarketResearchReports.biz provides a holistic overview of the global market for cloud backup and recovery software. The report is titled "Global Cloud Backup And Recovery Software Market 2016-2020' and is available for sale on the company website.

Driven by the rising availability of capacity optimization technologies and affordable bandwidth, cloud backup technologies and recovery software are becoming increasingly popular. As an alternative to on-premise software storage and portable media, cloud backup applications and recovery software are witnessing rising demand from around the world.

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Cloud backup is a method of storing data that involves transferring valuable information over a public cloud network. A third-party service provider usually hosts the server and charges the customer a fee depending on the capacity, backup, bandwidth, and number of users. Cloud backup solutions help in copying data to many servers. These solutions have in recent times emerged as the safest option for organizations to store valuable information and eliminate the risk of losing data due to hard drive failures, a substantial risk of which persists in the case of PCs. Furthermore, cloud backup also encrypts the files so that no other person apart from the user can view them, thereby ensuring protection against hackers and viruses.

Due to the aforementioned benefits, the report forecasts the global market for cloud backup and recovery software to exhibit a CAGR of 12.94% between 2016 and 2020.

This is a comprehensive report covering aspects such as the market definition, classification based on various criteria, and prevailing trends influencing the market's overall growth trajectory. Based on in-depth primary and secondary research, the report provides outlook on the present scenario and future prospects of the global cloud backup and recovery software market. To measure the present market size, revenue generated from software licenses, services, and maintenance is considered.

The report also presents an in-depth study on the market's prevailing vendor landscape. It profiles leading companies and refers to their financial reports for the purpose of getting relevant data. It also presents insights into the operations of the key market players, including their product specifications, sales revenue, gross margin, volume of sales, production, value and price, and manufacturing capacities.

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Companies such as CA Technologies, EMC, CommVault, Microsoft, IBM, and Symantec are identified as the key vendors operating in the market. Other companies profiled in the report include Actifio, FalconStor Software, Veritas Software Corporation, Asigra, Unitrends, Dell Software, Intronis, Carbonite, NetApp, Veeam, Acronis, EVault, and HP. With these companies increasingly focusing on reducing their IT expenditure, the demand for cloud backup and recovery software is poised to surge exponentially in the forthcoming years.

However, latency in data transfer may appear as a major bottleneck in front of these companies. Nevertheless, the market for cloud backup and recovery software is likely to substantially benefit from the emergence of on-demand and infrastructure-as-a-service cloud providers at the IT industry forefront.

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