Global Cloud Backup Market Is Projected to Grow at a CAGR of +22% by According to New Research

Key players profiled in this report are : Carbonite, Asigra, Barracuda Networks, Acronis International GmbH, Code42 Software, Datto, Druva Software, IBM, Veeam Software, Microsoft, Iron Mountain Incorporated


Pune, India -- (SBWIRE) -- 03/17/2018 -- This report studies the global Cloud Backup market, analyzes and researches the Cloud Backup development status and forecast in United States, EU, Japan, China, India and Southeast Asia. This report focuses on the top players in global market, like: Carbonite, Asigra, Barracuda Networks, Acronis International GmbH, Code42 Software, Datto, Druva Software, IBM, Veeam Software, Microsoft, Iron Mountain Incorporated and Efolder. The global Cloud Backup market is projected to GROW at a CAGR of +22% by 2023

Market segment by Regions/Countries, this report covers: United States, EU, Japan, China, India, Southeast Asia

Market segment by Type, Cloud Backup can be split into: Public cloud, Private cloud, Hybrid cloud

Market segment by Application, Cloud Backup can be split into: Cloud Service Provider, Telecom and Communication Service Provider, Managed Service Provider, Others

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The demand for cloud backup is driven by many factors, including the creation of large data volumes, cost and efficiency improvements over on-premise backups, and increased adoption of SaaS. As the adoption rate of cloud computing between enterprises increases, the cloud backup market is expected to attract a great deal of attention during the forecast period.

The adoption of cloud-based technologies has increased and companies have had to manage vast amounts of data to adopt cloud backup solutions. The adoption of cloud backup solutions has also increased due to a number of benefits such as simple management and monitoring, real-time backup and recovery, simplified integration of cloud backup with other applications in the enterprise, data deduplication and customer support.

Consulting services help companies make informed decisions to realize the results they want. On the other hand, the education service aims to provide diverse educational programs to resolve the knowledge gap. A variety of companies actively provide online training to end users through user manuals, blogs, video guidelines, and help forums.

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North America is estimated to account for the largest market share in 2017, and APAC is expected to grow fastest among the regions with the highest CAGRs due to increased data generation in many countries. The advent of cloud and mandatory government regulations will help promote the growth of the cloud backup market in the region at the same time.

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The market for cloud backup has been categorized by components, service providers, and distribution models, size of organization, industry and region. The service period is expected to grow at the highest annual average growth rate during the forecast period, and the education and consulting services sector is expected to take the largest market size in 2017 in the cloud backup market. Cloud backup provides features such as data retention, data protection, monitoring and reporting, and centralized management. Benefits such as scalability, reduced infrastructure costs, faster deployment, improved productivity and performance, reduced business downtime, and reduced loss have made cloud backup services a reality.