July 14, 2020

Global Cloud Backup Recovery Market by Product Types (Solutions and Services), Deployments (Public Cloud, Private Cloud, and Hybrid Cloud), End-users (Large Enterprises and Small & Medium-Sized Enterprises (SMEs)), Applications (Banking & Insuranc

The global cloud backup recovery software market was valued over USD 5 billion in 2019 and is projected to surpass USD 22 billion by 2026, at a CAGR of greater than 25%. The growth of this market is expected to be driven by its numerous benefits such as flexibility and versatility. Earlier, traditional backup was adequate for associations to backup and store constrained business critical information. Over the most recent couple of years, so as to save on IT expenditures, businesses are promoting the utilization of Bring Your Own Device (BYOD). Furthermore, the information created inside the association every day is very colossal making it hard to be overseen utilizing conventional backup. Cloud or online backup is a strategy of backing up data that includes sending duplicates of the information over a public cloud. The server is normally facilitated by a third-gathering specialist co-op that charges the client an expense dependent on transmission capacity, limit, number of clients, and backup. Cloud backup and recovery arrangements safely duplicate the records to numerous servers. These arrangements are protected from hard drive failures that are basic with PCs.

Market Trends, Drivers, Restraints, and Opportunities:

  • Rising volumes of generated data in organizations is driving the growth of the market.
  • Increasing focus on reducing IT expenditure is acting as a favourable factor driving the market growth.
  • Growing concerns regarding privacy of data and governance is acting as a restraint for the growth of the market.
  • Latency in the transfer of data is a restraint in the market growth.
  • The unexplored markets of emerging economies and the use of latest technologies are opportunities for the growth of the market.

Scope of the Report

The report on the global cloud backup recovery software market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report. AttributesDetailsBase Year2019Historic Data2015–2018Forecast Period2020–2026Regional ScopeAsia Pacific, Europe, North America, the Middle East & Africa, and Latin AmericaReport CoverageCompany Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Global Cloud Backup Recovery Market Segment Insights:

Based on product types, the market is divided into solutions and services. The services segment has the biggest segment in 2019 and is expected to witness the fastest growth with a substantial CAGR in forecast period due to training & consulting. Consulting deals with advising the clients on most reasonable and potential solutions and services depending upon the requirements of their businesses and clients. On the other hand, training services target at giving different training programs to mitigate the knowledge gaps. By deployments, the market is segmented into public cloud, private cloud, and hybrid cloud. The semi-automatic segment has the biggest share is expected to dominate the global market due to its ease of usage. However, the automatic segment is expected to grow at the highest CAGR during the forecast period owing to rising adoption of automation which includes features such as beverage temperature, sell-out volume, and out of stock alerts. In terms of end-users, the market is divided into large enterprises and small & medium-sized enterprises (SMEs). The large enterprises segment has the largest market share of more than 50% and is expected to witness the highest CAGR during the forecast period. However the SMEs segment is expected to grow at at the highest CAGR during the forecast period. Based on applications, the market is fragmented into banking & insurance, retail, education, public sectors, healthcare sciences, manufacturing, media & entertainment, information & communication technologies, and others. The information & communication technologies segment has the biggest market share in 2019. However, public sectors segment is anticipated to witness a rapid CAGR during the forecast period inferable from expanding adoption of distributed cloud computing in improving the quality of e-government driven services. On the basis of regions, the market is segmented into Asia Pacific, Europe, North America, the Middle East & Africa, and Latin America. North America has the biggest regional market in 2019 and will extend further at a moderate CAGR from 2020 to 2026 due to their developed IT infrastructure. However Asia Pacific is expected to witness the fastest CAGR during the forecast period because of better business opportunities given by cloud platforms such as scalability and flexibility for growing industries in the region.

Competitive Landscape:

Some of the other key players operating in the market include Acronis International GmbH, Amazon Inc., Asigra Inc., Barracuda Networks, Inc., Carbonite, Inc., Code42 Software Inc., Datto, Inc., Druva Software, IBM Corporation, Iron Mountain Incorporated, Microsoft Corporation, Oracle Corporation, and Veeam Software. The major market players gain edge in the market by activities of mergers & acquisitions and investing in research & development to offer various product offerings.

  • In July 2019, Amazon Web Services acquired storage capacity start-up E8. The company, E8 concentrated on superior storage with flash. Amazon has reinforced its custom storage hardware improvement through this acquisition.
  • In January 2017, Carbonite gained Double-Take Software, an associate of Vision Solutions, Inc. what's more, Clearlake Capital. Through this procurement Carbonite would improve its suite of information assurance answers for Small and Medium-sized Businesses (SMBs) which would fundamentally diminish vacation.
  • In January 2017, Comarch went into a concurrence with Siminn, a main telecom supplier in Iceland. Under this understanding, Comarch would offer oversaw administrations to Siminn, to diminish OPEX and improve its greatness in business tasks. The understanding would help the organization in extending its client base across Europe. With Comarch's Managed Services, Siminn would decrease its OPEX and furthermore have the chance to remain in front of the opposition in the cloud OSS/BSS advertise

The global cloud backup recovery software market has been segmented on the basis of

Product Types

  • Solutions
  • Services
    • Training & Consulting
    • Support & Maintenance
    • System Integration

Deployments

  • Public Cloud
  • Private Cloud
  • Hybrid Cloud

End-users

  • Large Enterprises
  • Small & Medium-sized Enterprises (SMEs)

Applications

  • Banking & Insurance
  • Retail
  • Education
  • Public Sectors
  • Healthcare Sciences
  • Manufacturing
  • Media & Entertainment
  • Information & Communication Technologies
  • Others

Regions

  • Asia Pacific
    • China
    • India
    • Japan
  • Europe
    • Germany
    • U.K.
    • France
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa