Global Cloud Backup and Recovery Software Market 2016-2020
Market outlook of the cloud backup and recovery software market
Technavio’s research analyst predicts the global cloud backup and recovery software market to grow at a CAGR of 13% during the forecast period. Cloud backup or online backup is a method of backing up data and involves sending a copy of the data over a public or proprietary network to an off-site server. The cloud backup and recovery software plays an essential part in intelligent business continuity strategy. The added benefits of security, storage, savings, and virtualization ease the transition to a hybrid cloud solution for enterprises and alleviate data security concerns related to cloud computing.
The cloud backup and recovery software market are driven by several factors including the need for companies to reduce their IT spending. The cloud storage solutions provide infrastructure and application support to enterprises at a lower cost than on-premises storage solutions.
End-user segmentation and analysis of the cloud backup and recovery software market
- Information and communication technology
Manufacturing sector dominated the market during 2015, with a market share of 24%. Factors that are driving the upsurge in the global market include the increasing demand for secure and efficient data access, storage solution, and low cost. With increasing adoption, there are various new applications being developed and deployed to cater to the growing demands from end-user segments. Cloud backup solution providers are developing different applications with complex computing capabilities, which can provide better results than on-premises solution providers. Many small and midsize enterprises are establishing their own private cloud infrastructure to cater to their internal computing and storage and backup requirements.
Geographical segmentation and analysis of the cloud backup and recovery software market
Americas accounted for 44% of the market share during 2015 because this region has always been a major adopter of any technology. Though the Americas dominate the market, APAC is expected to experience highest growth rate during the forecast period. Organizations in APAC, especially in India and China, are gradually developing their IT infrastructure and are looking for new technologies and capabilities to extract the full potential of their existing systems and data. However, the presence of many large organizations and SMEs in this region is expected to support the growth of the market during the forecast period.
Competitive landscape and key vendors
Numerous large and medium-sized vendors dominate the global cloud backup and recovery software market. Bigger companies are acquiring smaller companies to increase their product line and services, thereby increasing their market share. The global cloud backup and recovery software market is in its growth stage, and many private cloud storage vendors are entering this market, increasing the competition for public cloud storage providers.
The leading vendors in the market are -
- CA Technologies
Other prominent vendors in the market include Acronis, Actifio, Asigra, Carbonite, Dell Software, EVault, FalconStor Software, HP, Intronis, NetApp, Unitrends, and Veeam Software.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global cloud backup and recovery software market?
- What are the key market trends impacting the growth of the cloud backup and recovery software market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the global cloud backup and recovery software market?
- Trending factors influencing the market shares of the Americas, EMEA, and APAC?
- What are the key outcomes of the five forces model of the cloud backup and recovery software market?
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