Market Analysis:
The global cloud backup market was valued at USD 1.29 billion in 2016 and is projected to reach USD 10.25 billion by 2025, growing at a CAGR of 25.90% from 2017 to 2025.
Market Definition:
Cloud backup is a service that provides users with a system for the backup, storage, and recovery of computer files. Cloud backup systems are built around a client software program that runs on a schedule, some systems run once a day and other newer cloud backup services run continuously to capture changes to user systems nearly in real-time. Cloud backup is highly used by organizations as it is easily accessible, improves recovery time for small data sets, allows scalability with capital savings, high efficiency and reliability, anytime-anywhere access.
Sample Infographics:
Market Dynamics:
1. Market Drivers
1.1 Increased enterprise-wide data storage
1.2 Lower costs and greater efficiency than On-Premises Backup
1.3 Demand for cloud-based services
2. Market Restraints
2.1 Compliance issues for certain Applications
Market Segmentation:
The global cloud backup market is segmented on the basis of provider, component, deployment model, organizational size, and region.
1. By Provider:
1.1 Telecom & Communication Service Provider
1.2 Cloud Service Provider
1.3 Managed Service Provider
2. By Component:
2.1 Solution
2.2 Services
2.2.1 Telecom & Communication Service Provider
2.2.2 Cloud Service Provider
2.2.3 Managed Service Provider
3. By Deployment Model:
3.1 Private Cloud
3.2 Public Cloud
3.3 Hybrid Cloud
4. By Vertical:
4.1 Telecommunication and IT
4.2 Education
4.3 Government and Public Sector
4.4 Manufacturing
4.5 Banking & Financial Institutions
4.6 Customer Goods and Retail
4.7 Healthcare
4.8 Transportation & Logistics
4.9 Others
5. By Organization Size:
5.1 Large Companies
5.2 Mid-sized Companies
5.3 Small Companies
6. By Region:
6.1 North America (U.S., Canada, Mexico)
6.2 Europe (Germany, UK, France, Rest of Europe)
6.3 Asia Pacific (China, India, Japan, Rest of Asia)
6.4 Latin America (Brazil, Argentina, Rest of Latin America)
6.5 Rest of the World
Competitive Landscape:
The major players in the market are as follows:
1. Asigra Inc
2. Carbonite, Inc
3. Datto, Inc.
4. Efolder, Inc.
5. Iron Mountain Incorporated
6. Veeam Software
7. Acronis International GmbH
8. Barracuda Networks, Inc
9. IBM
10. Carbonite Inc
11. Druva Software
12. Microsoft
13. Symantec
14. CA Technologies
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the cloud backup market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
To know more about the Research Methodology of Verified Market Intelligence and other aspects of the research study, kindly get in touch with our sales team
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