Global Cloud Backup & Recovery Market Forecast to 2028
The latest market research report from Emergen Research, titled Global Cloud Backup & Recovery Market, provides estimated market size and shares, latest industry trends, global market growth rates, key drivers and opportunities, constraints, product segmentation, and major market players. Cost structure, market size, competitive landscape, product portfolio and specifications, and company profiles.
According to the most recent report by Emergen Research, the worldwide cloud backup & recovery market is anticipated to reach a market size of USD 20.69 billion by 2028 and exhibit a strong revenue CAGR. The worldwide cloud backup & recovery market is anticipated to develop during the forecast period as more enterprises utilise cloud computing. The demand for remote data backup and restoration to improve company outcomes is also anticipated to fuel the expansion of the worldwide cloud backup & recovery market. Additionally, it is anticipated that growing usage of Infrastructure as a Service (IaaS) cloud computing will propel future growth of the worldwide cloud backup & recovery market. In the future, rising SME use of cloud computing is anticipated to fuel market expansion.
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Competitive Terrain:
The global Cloud Backup & Recovery industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
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.
Research Report on the Cloud Backup & Recovery Market Addresses the Following Key Questions:
- Who are the dominant players of the Cloud Backup & Recovery market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the Cloud Backup & Recovery market?
- What are the key growth drivers and restraining factors of the Cloud Backup & Recovery market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the Cloud Backup & Recovery market and its key segments?
Market Overview:
The report bifurcates the Cloud Backup & Recovery market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- 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
Regional Landscape section of the Cloud Backup & Recovery report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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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.
- 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.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Cloud Backup & Recovery market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Points of the Geographical Analysis:
- Data and information related to the consumption rate in each region
- Estimated increase in the consumption rate
- Proposed growth of the market share of each region
- Geographical contribution to market revenue
- Expected growth rate of the regional markets
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