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Cloud Backup is also known as Online Backup or Cloud Computer Backup. This refers to backing up of data to a remote, cloud-based server. It is a method of supporting the data that is stored in and accessible from multiple distributed and connected resources that comprises a cloud for transferring data over the public cloud with less consumption of bandwidth. The server is usually hosted by a third party service providers. These solutions enable the client to store their data or files on the internet. It collects, compresses, encrypts and transfers data to the requested clients without consuming much time and bandwidth.
With the rise in data explosion, many organizations have supported the need for replication of data as backup and frequent data protection. Challenges such as server collapse and mismanagement of large company data have forced organizations to look for a substitute for traditional backups, as these are costly to maintain and require continuous monitoring. These challenges of traditional backups have resulted as the major driving force for the cloud backup market.
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Major Key Players:
The prominent players in the Cloud Backup Market are – Microsoft Corporation (U.S), Oracle Corporation (U.S), IBM Corporation (U.S), Amazon Web Services. (U.S), EMC Corporation (U.S), Google Inc. (U.S), VMware Inc. (U.S), Dropbox, Inc. U.S.), Barracuda Networks, Inc. (US), CommVault Software (U.S), Datto, Inc. (U.S.), Symantec Corporation (US), Code42 Software, Inc. (US), among others.
According to a recent study report published by the Market Research Future, The global Cloud Backup market is forecasted to gain prominence over the forthcoming years. The Market is forecasted to reach to USD ~5.66 Billion by 2023 growing with a striking double digit CAGR of ~21.4 % of during the forecast period 2017-2023.
Current Market Trends and developments
Trends such as cloud computing, analytics, online development platforms such as software, gaming and others are expected to create large data backup needs. Cloud is expected to store greater than 55 % of consumer data in the near future.
Advent of big data, growing IT industry, connected data ecosystems; internet of things, growing mobility etc. will drive the demand for cloud storage.
Cloud backup demand from large enterprises expected to be the largest segment of the market
Personal computing trends such as multi operating systems, dual booting, interoperability will create need for greater data storage
The Market of Cloud Backup appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through extensive research and development. Competitors are also focusing towards customer satisfactions and innovation as the major focus for maintaining the market positions. A large number of startups are targeting small and medium business to provide budget friendly and effective cloud backup solutions. On the other hand, large players are focusing towards hybrid cloud solutions and special storage solutions for virtual machines and deduplication options among others. Recently, a start-up named Datrium is readying a new Cloud DVX option for Amazon Web Services to provide customers with an off-site option for backup and disaster recovery. The Datrium DVX storage system for VMware virtual machines (VMs) consists of compute nodes and storage nodes. DVX Compute Nodes uses server-based flash cache to accelerate data reads, and DVX Data Nodes store data that has been compressed and globally deduplicated.
Segmentation By Solution: Comprises Primary storage, Disaster recovery, Cloud storage gateway and backup storage.
Segmentation By Deployment : Comprises Public Cloud, Private Cloud, and Hybrid Cloud.
Segmentation By Organization Size: Comprises SMEs and Large Enterprises
Segmentation By Service: Comprises Training and consulting, Support and maintenance, Cloud integration and migration and Managed services.
Segmentation By End-User : Comprises BFSI, Consumer goods and retail, Education, Government and public sector, Healthcare and life sciences.
The regional analysis of Cloud Backup market is being studied for region such as Asia Pacific, North America, Europe and Rest of the World. Cloud Backup has driven due to its solutions like storage, simple management and monitoring, real-time backup and recovery, simple integration of cloud backup with enterprise's other applications, data de-duplication, customer support and many others services.
It has been observed that North America region is the leading in Cloud Backup market. The study reveals that Europe region is showing a rapid growth in the Cloud Backup market. Asia-Pacific countries like China, Japan and India is projected to be the fastest growing region in the Cloud Backup market due to the increasing size of high data generation in many countries.
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- Software investors
- Cloud vendors
- Application design and development service providers
- System integrators/migration service providers
- Training and education service providers
- Data integration service providers
- Managed service providers
- Data quality service providers
- Security Management Service Provider
- Security Equipment Providers
- Security Agencies
- System Integrators
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