Cloud Based Backup Services Market to Hold a High Potential for Growth by 2027 | Future Market Insights

Cloud Based Backup ServicesMarket: Introduction

Cloud based backup services helps enterprises to back up the data and also help to deliver a copy of data over a public network to an off-site server. The cloud based backup services plays a vital role in intelligent business continuity policy. Cloud based backup services has several benefits such as security, storage and virtualization which helps organizations to relieve from data security concern associated to cloud computing.

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The cloud based backup services market is gaining traction rapidly owing to growing demand for big data, social networking and increasing usage data base management solution in enterprise application.

Cloud Based Backup ServicesMarket: Drivers and Challenges

The increasing demand to reduce organization IT spending is one of the major factor driving the cloud based backup services market. The cloud based backup solution provides application and infrastructure support to organization at very low cost than on premises storage solutions. The cloud backup services allows customers to manage several virtualized environment and offers disaster recovery. Improved organizational productivity, stringent security and regulatory policies are another factors which are driving the growth of cloud based backup services in positive manner.

Compliance issues and Latency in data transfer are the major restraints faced by cloud based backup services market.

Cloud Based Backup ServicesMarket: Segmentation

Segmentation on the basis of enterprise size:

  • Small and Medium enterprises
  • Large enterprises

Segmentation on the basis of end users:

  • IT and Telecom
  • Government
  • Manufacturing
  • BFSI
  • Retail
  • Others

Cloud Based Backup ServicesMarket: Key Players

Some of the key players of cloud based backup services market are: CA Technologies, CommVault, EMC, IBM Corp., Microsoft Corp., Symantec,Acronis International, Actifio Technologies, Asigra Inc., Carbonite Inc., Dell Software, FalconStor Software, HP, NetApp, and Veeam Software.

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Cloud Based Backup ServicesMarket: Regional Overview

Presently, North America is holding largest market share of cloud based back up services owing to increasing competition of public cloud service providers, and enterprise mergers to increase product line and services.

In APAC and EMEA region, the market of cloud based managed services is growing gradually owing to enterprises are developing their IT infrastructure and looking for adopting new technologies in countries like India and China. 

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