Cloud Backup Market to be Driven by Rise in Adoption of Mobile Devices and Ease of Access for Consumers: Radiant Insights, Inc.
06 Feb, 2019, 10:50 GMT
SAN FRANCISCO, Feb. 6, 2019 /PRNewswire/ -- Global cloud backup market is expected to witness a higher CAGR in the forecast period. The cloud backup market is driven by rise in adoption of mobile devices and ease of access for cloud backup technology coupled with rise in data accessibility via Internet. In addition, rise in internet users and increase in technological approach to determine loopholes in the network are expected to contribute to the market growth in the forecast period. However, threat of identity theft, server failure and infrequent backups due to power cuts is likely to curb the market growth in the forecast period. A major trend that influences the growth of cloud backup market includes cloud backup for VM environment. Enterprises are now striving to adopt to virtualization in the coming years to offer major benefits of virtualization. By component, the cloud backup market is segmented into service and solution. Service category is further segmented into cloud service provider, managed service provider, communication provider and telecom. Deployment model is further segmented into small & medium enterprises. By industry, the cloud backup market is segmented into financial services, consumer goods, education, media, entertainment, life sciences and healthcare.
Geographical segmentation for cloud backup markets includes North America, South America, Europe, Asia-Pacific, Middle East and Africa. North American and European market accounts for a strong market position due to rise in data solutions and high network bandwidth. European market enjoys a significant position in the global scenario due to rise in cloud deployment technologies and need for cloud in VM environment. Asia-Pacific regions account for a significant market positions in the global arena with growth factors such as presence of small and medium enterprises engaged in internet business and need for robust technologies for operations. The key players in the cloud backup market include Microsoft Corporation, Amazon Web Services Inc, VMware Inc, Dropbox Inc, Oracle Inc, EMC Corporation and Rockspace Hosting Inc.
Worldwide markets are poised to achieve continuing growth as Cloud Backup markets respond to the advantages brought by mega data centers for cloud computing. The quality and the customization of mega data centers are significant market growth drivers. Automation of process is a key efficiency tool. Worldwide Cloud Backup has many applications: IoT, the Internet of things is the largest. Self-driving cars, drones, robots, artificial intelligence, and data center core storage. Cloud-backup markets get really, really big by 2024, $190.5 billion. The reason is that all computing moves to the cloud and all smart devices and IoT store data in the cloud. Augmented reality, self-driving cars, robots, drones all generate significant amounts of data from small smart devices and processors inside things. That data gets stored in the cloud. This data is manipulated with analytics and accessed as information from many different sources.
Access 185 page research report with TOC on "Cloud Backup Market" available with Radiant Insights, Inc. @ https://www.radiantinsights.com/research/cloud-backup-market
With 2 trillion IoT processors and devices anticipated to be in place by 2024, there is a lot of data generated on a daily basis. While not all of it is stored or backed up, a lot of the data needs to be used again in analytics, hence the growth of cloud storage markets. Once the data is stored, it can be accessed again and used, which is a back-up function. Worldwide, the Cloud Backup market at $21.7 billion market in 2017, is expected to reach $190.5 billion by 2024. Growth is a result of the implementation of the digital economy. Geographically, this report is split into the US, Europe, Asia, the Middle East and Africa.
Companies Profiled
- Market Leaders
o IBM
o Amazon
o Microsoft
o Google
o Iron Mountain Incorporated
o Veeam Software
o Barracuda Networks
o Carbonite
o Autotask / Datto
o Asigra
o Acronis International GmbH
o Code42 Software
o Datto
o Druva Software
o Efolder
- Key Topics
o Cloud Backup Markets
o Cloud Virtual Machine
o Platform Stack-Services
o Mega Data Centers
o Cloud CSP
o Cloud MSP
o Cloud Telco
o High-Performance Switches
o Software Defined Data Center
o Customer Base Storage
o Private Cloud
o Public Cloud
o Hybrid Cloud
o Social Media
o Always on Data Centers
o Robust, Quality Cloud Computing
o Networking Performance
o Scalable Infrastructure
o Data Management Component
o Microservices
o Virtual Machines
o Hypervisor
o Open Compute
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SOURCE Radiant Insights, Inc.