Cloud Backup Market to Continue Momentum in 2018, Said Asigra

Asigra Inc. announced that new forecasts from a trio of market research firms – Stratistics MRC, CMI, and MarketResearch – predict continued category adoption and growth in the cloud backup space.

Driven by data growth rates, Asigra has remained at the vanguard of these trends – meeting the demand for scalable, yet agile data protection that offers the high density available per dollar.
 
Stratistics Market Research Consulting [1] recently reported that the Global Cloud Backup market could balloon as high as $5.5 billion by 2023 with a CAGR of 24.2%, up from $1.2 billion in 2016. In the report, analysts include Asigra as one of the key players in the Global Cloud Backup Market and emphasized several factors fueling this expected market growth. The primary drivers of growth for this category included large amounts of generated data, increasing adoption of SaaS, lower costs, and increased capabilities/efficiencies.
 
A separate report from Coherent Market Insights [2] suggests that the Global Cloud Backup Market is on track to have reached $ 1.3 billion by the end of 2017 – with a projected CAGR of over 22% between 2017 and 2025 – to potentially surpass $ 6.4 billion by 2025. CMI reported that by 2020, nearly three-quarters (74%) of the cloud workload is expected to be SaaS workload. As stated in the report: “various advantages of cloud backup such as easy installation, cost effectiveness, performance and scalability, and flexibility have also accelerated the market growth.” The research firm also projects that AsiaPac will be the fastest growing region in the sector.
 
These market trends are also emphasized in an additional report from MarketResearch.com, Inc., which observes: “increasing adoption for cloud-based services and solutions in industrial sectors across the globe as the ongoing trends continued, which is expected to support market growth in the near future.” The report also lists Asigra. as a major participant in the cloud backup market.
 
Eran Farajun, EVP, Asigra, acknowledges these assessments and emphasizes that Asigra will expand its positioning in the cloud backup category throughout 2018 and beyond.

“We’re providing the highest feature density solution per dollar spent on data protection which is not only unique in the industry, but right in line with anticipated customer requirements for 2018,” he said. “Market research and business-driven technology trends continue to validate Asigra’s strategic emphasis of enabling secure cloud-based data protection as organizations prioritize considerations for the next 12 months.”

[1] Stratistics MRC – Global Market Outlook (2017 – 2023), September 6, 2017 (167 pages, €3,922)
[2] Coherent Market Insights, Global Cloud Backup Market to Surpass $6,367 Million by 2025, November 23, 2017 (250 pages, $4,500)