Cloud Backup Market - Industry Analysis, Market Size, Share, Trends,Application Analysis, Growth and Forecast 2020 - 2025

 Global Cloud backup Market size is expected to reach $4.98 billion by 2025, at a CAGR of 20.87% during 2020-2025. In recent time, enterprises are replacing traditional Backup system with cloud based system to enhance the business efficiency and transparency.  In addition to this, most of the companies have now realized the risk of losing data in a traditional Backup system and hence they are shifting their preferences to use cloud based Backup system. Similarly, the availability of cloud based backup for virtual machines are creating new opportunity for cloud Backup market. Approximately 55%-65% of enterprises are likely to move towards virtualization by the end of 2021 across the globe. Further, the growing adoption of cloud computing , rising requirement of computer data storage, and growing data center demand are building a favorable market environment for cloud Backup.

Request Sample

Key Takeaways

  • North America dominates the cloud Backup market owing to rising number of data centers and cloud based applications in 2019.
  • The rising penetration of IoT based devices in manufacturing industries, large volume of data generation in telecom sector are creating new opportunity for cloud Backup market.
  • Hybrid cloud storage and Backup is expected to accelerate the cloud Backup market due to rise in cross border transaction.
  • Data compliance issue due to lack of standardized regulation is likely to hinder the growth of cloud Backup industry.

End User Type - Segment Analysis

Manufacturing and telecom sector are expected to provide fast pace growth to cloud Backup market at a CAGR of 22.45% during 2020-2025. Rising adoption of IoT based equipment in industrial application are continuously increasing the data consumption in manufacturing industries. The Industrial IoT market is expected to reach $100 billion by 2025 growing at CAGR of 18.56% during 2020-2025. Hence, most of the data centers are built on providing support to industrial data management. While industrial manufacturing sector are presently struggling to reduce operational cost, the cloud based Backup can be considered as the most cost effective solution for the data management applications.  Telecom sector is also expected to provide large growth opportunity for cloud back market due to deployment of 5G technology worldwide. 5G services are expected to be commercialized on a large scale post 2020. Approximately, 50%-55% of the investments driven by 5G technology is likely to be directed towards datacenters by 2021. The implementation of 5G technology is likely to create huge data consumption, which will impact the cloud Backup market positively.  

Schedule a Call

Deployment Type - Segment Analysis

Hybrid cloud is likely to witness highest CAGR of approximately 22.87% during 2020-2025. Hybrid cloud is gaining more popularity in recent time due to benefit of creating more varied cloud environment. Hybrid cloud provides the benefit of both private and public cloud resources. With the growing cross border transaction, most of the businesses are looking for varied cloud environment. With the use of hybrid cloud technology, businesses are now managing public cloud for the bulk of their computer data storage with scalability, affordability, and reliability, while creating a smaller private cloud for their critical and sensitive data.

Geography - Segment Analysis

In 2018, North America dominated the cloud Backup market with a market share of more than 34.69%, followed by APAC and Europe. The region of North America accounts for majority of the cloud traffic across the globe. According to the Cisco Global Cloud Index, the cloud traffic in the region is poised to grow at a CAGR of 24% during 2016-2021 and will account for nearly 40% of the global traffic by 2020. This will also impact the growth of the hyper scale datacenters positively in the region, thereby boosting the demand for cloud Backup market. Additionally, the existing datacenter facilities in North America are also witnessing expansions, which will prominently increase the usage of cloud Backup. In the latest of developments, Cyxtera in March 2019, announced the expansion of its datacenters in Phoenix, Silicon Valley, New York, Metro Atlanta, and Toronto, which are part of the ten biggest datacenters in North America. Similarly, Data center colocation is also on the rise in the U.S. with the burgeoning office space costs and the increasing costs to maintain datacenter infrastructure. As cloud back is mostly preferred by most of the data centers in North America, the region is likely to witness a significant pace of growth in cloud Backup market.

We also publish more than 100 reports every month in "Information and Communications Technology”, Go through the Domain if there are any other areas for which you would like to get a market research study."

Location: United States

Comments

Post a Comment

Popular posts from this blog

Printed Tape Market - Forecast(2021 - 2026)

  Printed Tape Market  Overview Printed tape market size is forecast to reach  $38.4 billion by 2026 , after growing at a  CAGR of 5.9% during 2021-2026 . Printed tapes can help in spotlighting company, product or logo and can be also used as an alternative for printed cartons in tapes, owing to the printed tape market is witnessing an increase in demand. These printed tapes are hot melt and have fast adhesive strength of synthetic rubber even in lower temperatures as compared to acrylic adhesive, which is more resistant to aging and UV radiation. However, it also gives free professional design assistance, alignments, and quality checks at every step which makes the seller feel protective towards their product and avoids black-marketing. Growing public interest towards printed tapes for packaging will further enhance the overall market demand for Printed tape during the forecast period. Covid Impact The worldwide spread of the COVID-19 pandemic has disrupted the trad...
Read more

Pet Care Market - Forecast(2021 - 2026)

  Pet Care Market Overview: According to the European Pet Food Industry Federation (FEDIAF), the daily diet requirement for a dog and a cat are 37 and 40 nutrients respectively. [1]  This daily requirement of nutrients is largely fulfilled by canned pet foods which throws light on the essentiality of pet products in modern-day life. Pet care is a lucrative market growing rampantly in U.S. and U.K. owing to growing instances of pet ownership in these regions. The pet care market also includes items for pet grooming, pet accessories, pet shops, pet essentials, pet care clinics, pet care insurance, and many others. As a result of this increase in pet adoption, consumers are now spending colossal amounts of their income on pet care thereby ballooning the demand for pet products. Furthermore, ease of pet training and grooming facilities has considerably boosted the global pet care market which offered opportunities worth $125 billion as of 2018. During the forecast period 2019-2025...
Read more

Occupant Classification System Market - Forecast(2021 - 2026)

Image
  Occupant Classification System Market Overview The global Occupant Classification System Market size is estimated to surpass  $1.1 billion mark by 2026  growing at a projected CAGR of more than  6.2%  during the forecast period 2021 to 2026. The surging demand for road safety in automobiles pertaining to driver safety and stringent government regulations related to occupant safety will boost the Occupant Classification Systems market. The market is driven by declining prices of the safety systems in passenger vehicles. The market is also driven by increasing number of accidents and stringent government regulations & policies. The automotive sector has seen a growing inclination towards the safety and comfort of the passenger over the years. This focus on safety of the passengers/driver is illustrated by the steps taken by automotive manufacturers, such as introduction of seat belt tensioners, air-bags and  ABS (anti-lock braking)  in the vehicles...
Read more