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Cloud Backup Market at $1.2 Billion in 2017 to Reach $6.8 Billion by End of 2025 With CAGR of 23% for 2018-2025 – HTF Market Intelligence

Asigra named key player
This is a Press Release edited by StorageNewsletter.com on 2018.10.12

Asigra Inc. highlighted data showing increasing adoption of cloud-based backup and recovery solutions.

The rise is being driven by both SMBs and enterprises globally transitioning away from traditional data protection categories to cloud backup and recovery solutions.

"The global cloud backup market size was $1.2 billion in 2017 and is expected to reach $6.82 billion by the end of 2025, with a CAGR of 23.4% during 2018-2025," stated a report by HTF Market Intelligence. "Increasing adoption of cloud-based technologies and the need to manage voluminous data sets in enterprises has led to the adoption of cloud backup solutions. The growth of cloud backup solutions has also increased due to simple management and monitoring, real-time backup and recovery, simple integration of cloud backup with other applications in the enterprise, data deduplication, and timely customer support."

According to the report, cloud backup is a strategy for backing up data that involves sending a copy of the data over a proprietary or public network to an off-site server. The server is usually hosted by a third-party service provider, which charges the backup customer a fee based on data capacity, number of machines, CPU sockets, mailboxes or users. In the enterprise, the off-site server might be owned by the company, but the chargeback method would be similar.

Asigra's position in cloud-based data protection has been elevated with the recent announcement of version 14 of the company's deployed service-oriented software. In addition to being a comprehensive platform, the software converges data protection and cyber security to counter rapidly growing malware threats, including ransomware Attack-Loops, which target backup data to prevent successful recoveries and force organizations to surrender ransom payments. The technology enables organizations to securely and cost-effectively manage a variety of data protection requirements impacting organizations today.

The key players mentioned in the report are cited for focusing efforts on innovation in production technologies to improve data protection efficiency. Other backup software providers mentioned in the report include Acronis, Barracuda Networks, Inc, Carbonite, Inc., International Business Machines Corporation, Iron Mountain Incorporated, Microsoft Corporation and Veeam Software.

"The highlighted research reflects the accelerated adoption we are seeing in the market as businesses realize the advantages of a cloud-forward data protection strategy," said Eran Farajun, EVP, Asigra. "Organizations globally are discovering the productivity gains as well as the resource savings of this technology, which in turn is driving greater interest and growth."

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