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Cloud Backup & Recovery Market Size – USD 7.48 Billion in 2020, Market Trends – Emergence of Infrastructure as a Service (IaaS) cloud computing.
— Emergen Research
VANCOUER, BC, CANADA, September 14, 2022 /EINPresswire.com/ — The global cloud backup & recovery market is expected to reach a market size of USD 20.69 Billion by 2028 and register a high revenue CAGR, according to latest analysis by Emergen Research. Increasing cloud computing adoption by organizations is projected to drive global cloud backup & recovery market growth during the forecast period. In addition, growing demand for remote data backup and restoration to enhance business outcomes is expected to augment global cloud backup & recovery market growth. Furthermore, increasing adoption of Infrastructure as a Service (IaaS) cloud computing is expected to further accelerate growth of the global cloud backup & recovery market going ahead. Rising adoption of cloud computing among SMEs is also expected to propel growth of the market in future.
Data backup and recovery is method of backing up data in case it is lost and developing secure methods that allow restoring data. Data backup is copying and saving data to ensure that it is available in case of data damage or elimination. During regular operations, businesses and organizations understand that any computer or its operating system can crash, and anyone can make mistakes. Moreover, data backup and recovery are critical components for maintaining data of any organization. Businesses must plan ahead of time and implement data backup methods that protect them from accidental data deletion and recover data quickly. Use of an offshore server, separate drives, or cloud backup to store large volumes of data leads to successful data backup solutions.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the Cloud backup & recovery market . Also, to arrive at an accurate and unbiased market forecast, data collected from secondary research sources have been analyzed and validated through primaries.
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Data backup is a cost-effective method for companies to secure important data. It works with existing systems and does not require any additional systems. Encrypted files are then stored at an offsite data center once the backup is complete. This entire process uses advanced technologies without incurring any extra expenses. To protect and secure data from any security breaches, all information is encrypted before it is sent to offshore data center.
Key Cloud backup & recovery market participants include Microsoft Corporation, Veritas Technologies LLC, Carbonite, Inc., Actifio, Inc., Acronis International GmbH, Broadcom Inc., CommVault Systems, Inc., International Business Machines Corporation, Redstor Limited, and Rackspace, Inc.
Key inclusions of the Cloud backup & recovery market report:
COVID-19 effects on growth figures.
Statistical analysis pertaining to market size, sales volume, and overall industry revenue.
Organized mentions of major market trends.
Growth opportunities.
Figures showcasing market growth rate.
Advantages and disadvantages of direct and indirect sales channels.
Insights regarding traders, distributors, and dealers present in the industry.
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Some Key Findings from the Report:
Increasing adoption of hybrid cloud platform among enterprises is driving revenue growth of the hybrid segment currently, which is expected to register a significantly high CAGR of 14.0% over the forecast period.
In terms of market revenue, the SME segment is expected to register steady growth during the forecast period due to increasing implementation of cloud computing in small and medium enterprises to reduce operational costs.
BFSI segment is expected to account for the largest revenue share as compared to other end-use segments during the forecast period due to increasing implementation of cloud backup & recovery solutions in the banking industry.
Due to rapid adoption of cloud technology across various sectors in countries in Asia Pacific, the market in the region is expected to register significant growth in terms of revenue share during the forecast period.
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The Cloud backup & recovery market research study of historical, current, and forecast estimations for each sector, segment, sub-segment, and regions. The new report is updated with the impact of the COVID-19 pandemic on the Cloud backup & recovery market .
Emergen Research has segmented the global cloud backup & recovery market on the basis of type, user type, end-use, and region.
Type Outlook (Revenue, USD Billion; 2021–2028)
Hybrid
Public
Private
User Type Outlook (Revenue, USD Billion; 2021–2028)
SMEs
Large Enterprise
End-use Outlook (Revenue, USD Billion; 2021–2028)
BFSI
Healthcare
Manufacturing
Education
Government
Retail
Telecommunication & IT
Others
We can also provide the customized separate regional or country-level reports, for the following regions:
North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central & South America, Brazil, Argentina, Rest of South America, Middle East & Africa, Saudi Arabia, Turkey, Rest of Middle East & Africa
Forecasts to 2030 and other analyses reveal commercial prospects
In addition to revenue forecasting to 2030, our new study provides you with recent results, growth rates, and market shares.
You will find original analyses, with business outlooks and developments.
Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising Cloud backup & recovery market prices and recent developments.
This report includes data analysis and invaluable insight into how COVID-19 will affect the industry and your company. Four COVID-19 recovery patterns and their impact, namely, “V”, “L”, “W” and “U” are discussed in this report.
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About Emergen Research
Emergen Research is a Market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer Market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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