Cloud Backup & Recovery Market Size – USD 7.48 Billion in 2020, Market Growth – at a CAGR of 13.6%
VANCOUER, BC, CANADA, November 10, 2021 /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.
The report offers insightful information about the market dynamics of the Cloud Backup & Recovery Market . It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Cloud Backup & Recovery Market , competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Cloud Backup & Recovery Market .The report focuses on the recent trends, major challenges and opportunities, and limitations pertaining to the ongoing pandemic.
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Key Highlights of 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.
Key Companies in the Cloud Backup & Recovery Market 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
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Objectives of the Study:
To provide with an exhaustive analysis on the Cloud Backup & Recovery Market By Function, By Type, By Application and By Region.
To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
To evaluate and forecast micro-markets and the overall market
To predict the market size, in key regions— North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
To record and evaluate competitive landscape mapping- product launches, technological advancements, mergers and expansions
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Research Report (Inclusion of Updated Research)
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2021 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
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2021 Updated Report Introduction, Overview, and In-depth industry analysisCOVID-19 Pandemic Outbreak Impact Analysis Included
Region wise performance of the Cloud Backup & Recovery Market industry
North America Cloud Backup & Recovery Market forecast is expected to remain significantly positive in terms of revenue share between 2020 and 2028. In addition, North America Cloud Backup & Recovery Market revenue share is expected to remain comparatively larger than that of other regional markets from 2020 to 2028.
Asia Pacific registered fastest revenue CAGR in 2020, and the Cloud Backup & Recovery Market forecast is that this trend is expected to continue going ahead. Market forecast states that revenue share contribution from China, India, and South Korea is expected to remain robust till 2028.
Europe Cloud Backup & Recovery Market forecast is positive currently, with revenue growth expected to remain steady between 2020 and 2028. Robust focus on research and development initiatives by major firms and changing trends and demographics in countries in the region are some factors expected to continue to support Cloud Backup & Recovery Market growth.
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)
User Type Outlook (Revenue, USD Billion; 2021–2028)
End-use Outlook (Revenue, USD Billion; 2021–2028)
Telecommunication & IT
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Key points covered in the report:
The report provides the reader with a detailed study of the global Cloud Backup & Recovery Market , including essential data beneficial for business.
The prominent factors driving and restraining market growth, latest product trends, and technological advancements have been extensively discussed by the authors of the report.
A broad market categorization, based on product type, application gamut, and end-user landscape, has been included in the report.
It further entails the latest product development, incorporation of new techniques, and profiles of major competitors in the market.
Which emerging technologies are believed to impact the Cloud Backup & Recovery Market performance?
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2028
Chapter 3. Key Insights
Chapter 4. Cloud Backup & Recovery Market Segmentation & Impact Analysis
4.1. Cloud Backup & Recovery Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
220.127.116.11. Increasing cloud computing adoption by organizations
18.104.22.168. Growing demand for remote data backup and restoration to enhance business outcomes
22.214.171.124. Rising need to reduce downtime with better backup and recovery solutions
126.96.36.199. Increasing adoption of Software as a Service (SaaS)
4.2.3. Market restraints analysis
188.8.131.52. Cloud storage security and privacy issues
184.108.40.206. Time-consuming recovery process
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