Global Cloud Backup Market (2021-2026) by Component, Service Provider, Deployment Model, Organization Size, Vertical & Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis

The Global Cloud Backup Market is estimated to be USD 6.15 Bn in 2021 and is expected to reach USD 10.72 Bn by 2026, growing at a CAGR of 11. 75%.

Market Dynamics

Cloud backup enables easy management and access of data from anywhere using an internet connection as the organization requires. It enables continuous and automatic backup to the cloud, making it easy to manage huge volumes of data. Rising adoption of cloud backup solutions and services, lower costs and greater efficiency than on-premises backup, growing adoption of SaaS, and increased focus on reducing IT spending are driving the market growth.

However, limited bandwidth for data retrieval and resistance to adoption due to the time-consuming recovery process are the factors that may hinder the growth of the Global Cloud Backup Market.

Market Segmentation

The Global Cloud Backup Market is segmented further by Component, Service Provider, Deployment Model, Organization Size, Vertical & Geography.

By Component, the Global Cloud Backup Market is classified into Solution and Service sectors.

By Service Provider, the Global Cloud Backup Market is classified into Telecom Service Providers, Cloud Service providers and, Others.

By Deployment Models, the Global Cloud Backup Market is classified into Public, Private and Hybrid Cloud.

By Organization Size, the Global Cloud Backup Market is classified into Large Enterprises and Small & Medium-Sized Enterprises.

By Vertical, the Global Cloud Backup Market is classified into BFSI, Education, Healthcare, Life Sciences, Telecommunication, Media, and Entertainment and Others.

By Geography, North America is expected to lead the market.

Recent Developments

1. IDrive Cloud Backup has released IDrive® Mirror, providing secure, cloud-based full image backups for Windows computers and server operating systems for protection against data loss and dreaded ransomware. - 20th May 2021
2. Google announced that its free unlimited photo backup was going to end and it would all fall under the free shared 15GB get you with Google’s other services, like Gmail and Google Drive - 16th May 2021

Company Profiles

Some of the companies covered in this report are Acronis International GmbH, Google Inc., Asigra Inc., Barracuda Networks, Inc., Carbonite, Inc., Datto, Inc., IBM Corporation, Microsoft Corporation, Oracle Corporation, Efolder Inc., etc.

Competitive Quadrant

The report includes the Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Cloud Backup Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.
• The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report also contains the competitive analysis using Positioning Quadrants, the analyst’s Proprietary competitive positioning tool.

Report Highlights:

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market