The global cloud backup market is forecast to reach USD 10.04 Billion by 2026, according to a new report by Reports and Data. The cloud backup solutions provide a virtual remote server storage for the data and applications of any businesses or individuals. Most organizations opt to back up all the important business and operational data to the cloud to keep them readily available in case of a system failure, outage or any unpleasant disaster. The cloud server backup has been compulsory for most of the organizations for their critical data and a virtual storage server for remote accessibility. The global cloud backup market is growing predominantly as the amount of data is being elevated globally. The inclination towards digitization across all the industry verticals have been the primary reason the cloud backup solution is earnestly demanded. SMEs are forecasted to contribute remarkably in the forecast period due to a massive adoption of the cloud deployment for their internal data and applications. APAC is forecasted to achieve the fastest growth of about 32.8% in the period 2019 – 2026, due to an increase in the cloud deployment of data in the countries like China, Singapore, and India. North America holds the highest market share of 37.6% in 2018 because of the prodigious rate of deployment of the cloud backup solutions.
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Key participants include
Microsoft Corporation, Amazon.com, Barracuda Networks, Hewlett Packard Enterprise Development, NetApp, Acronis International Gmbh, IBM Corporation, Efolder, Inc., Datto, Inc., and Code42 Software, Inc.
Further key findings from the report suggest
The hybrid cloud is the composition of two or more distinct private and public cloud infrastructure. It helps to deliver a high-security features of a private cloud, coupled with public cloud’s faster connectivity and easy-to-access features. The hybrid cloud is expected to achieve a market valuation of USD 2.94 Billion by 2026. The CAGR is calculated as 28.0% throughout the forecast period.
In an incremental backup, the successive copies of the data containing the portion that has changed since the preceding backup copy was uploaded, is uploaded only and in case of a full back up, the last full back up is taken into operation. The incremental backup had a market share of USD 0.22 Billion in 2018.
Europe would reach a market share of 26.7% by 2026, having grown at a CAGR of 25.6% in the forecast period. United Kingdom and Germany have the most number of valuable players in this region.
North America is leading the global market, with 37.6% of market possession in 2018 and would continue dominating the global market with a CAGR of 27.7% during the forecast period. United States possessed the highest market share in the worldwide market.
APAC is forecasted to achieve the fastest growth of about 32.8% throughout the forecast period, owing to the rise in use of cloud backup solutions, especially the IT & Telecommunication SMEs in countries like China, Singapore, and India.
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For this report, Reports and Data have segmented into the global Cloud Backup market on the basis of resin type, composite phases, industry vertical, and region:
Type Outlook (Revenue: USD Billion; 2016-2026)
Type of Backup Outlook (Revenue: USD Billion; 2016-2026)
Component Outlook (Revenue: USD Billion; 2016-2026)
Data Archiving & Application Hosting
Cloud Integration & Migration
Security & Encryption
Latency & Auto-Scaling
Support & Maintenance
Training & Consulting
Type of Cloud Outlook (Revenue: USD Billion; 2016-2026)
Organization Size Outlook (Revenue: USD Billion; 2016-2026)
End-Use Industries Outlook (Revenue: USD Billion; 2016-2026)
IT & Telecommunication
Government & Public Sectors
Retail & E-commerce
Media & Entertainment
Regional Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
- North America
- Asia Pacific
- Latin America
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