Global Cloud Backup Market to Surpass $6,4 Million by 2025 – Coherent Market Insights

Cloud backup is an alternative to traditional backup, which is used to create, edit, manage and restore data, application and services by using cloud computing infrastructure and resources.

According to Coherent Market Insights (CMI), the Global Cloud Backup Market (250 pages, $4,500, November 2017) is expected to reach $1,287 million in 2017 and is projected to exhibit a CAGR of 22.1% over the forecast period (2017–2025).

The market could balloon as high as $5.5 billion by 2023 with a CAGR of 24.2%, up from $1.2 billion in 2016.

Generation of large volume of data is one of the major growth factors for the market. According to CMI, by 2020, around 92% of workload is expected to be processed by cloud data centers.

Increasing adoption of SaaS is also expected to drive the market. By 2020, around 74% of the cloud workload is expected to be SaaS workload, which is up from 65% in 2015. Owing to various advantages of cloud backup such as easy installation, cost effectiveness, performance and scalability, and flexibility have also accelerated the market growth.

Key Trends and Analysis of Cloud Backup Market
By deployment type, the public cloud segment accounted for the dominant position in the market. This is attributed to various advantages of public cloud such as scalability, cost effectiveness, reliability, and location independency. By 2020, 68% of the cloud workload is expected be on public cloud, which is up from 49% in 2015.  

Key Market Takeaways:
• North America accounted for the largest revenue share in the global cloud backup market in 2016. Increasing shift of workload to cloud environment is one of the major factors for rising demand for cloud backup owing to various advantages associated with using cloud storage. According to CMI, in 2015, North America accounted for around 42% of the cloud data center workload, globally.
• AsiaPac is projected to be fastest growing region in the global cloud backup market, owing to increasing development of IT infrastructure by organizations, especially in India and China that are adopting new technologies to work efficiently with existing systems and data. Moreover, rate of shifting workload to cloud environment  – 31.6% CAGR 2015–2020 – is expected to be relatively high thus, accelerating the market growth.  
         
Some of players in global cloud backup market include VMware, Inc., Veeam Software, Microsoft Corporation, Iron Mountain Incorporated, IBM Corporation, Google Inc., EMC Corporation, Efolder, Inc., Druva Software, Dropbox, Inc., Datto, Inc., Code42 Software, Inc., Carbonite, Inc., Barracuda Networks, Inc., Bacula Systems, Asigra Inc., Amazon Web Services, Acronis International GmbH.