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Global Cloud Backup and Recovery Software Market 2016-2020 - Focus on Reducing IT Expenditure - Research and Markets

[May 06, 2016]

Global Cloud Backup and Recovery Software Market 2016-2020 - Focus on Reducing IT Expenditure - Research and Markets

Research and Markets has announced the addition of the "Global Cloud Backup and Recovery Software Market 2016-2020" report to their offering.

The report forecasts the global cloud backup and recovery software market to grow at a CAGR of 12.94% during the period 2016-2020.

The market is divided into the following segments based on end-user:

Manufacturing
BFSI
Information and communication technology
Others

With the advent of IaaS and on-demand cloud providers like Amazon Web Services, new virtualization strategies have emerged. Most enterprises are quickly adopting these strategies to eliminate infrastructure limitations by developing and deploying applications on a single piece of hardware.

According to the report, the global cloud backup and recovery software market is driven by several factors, incuding companies' need to reduce their IT spending. These cloud storage solutions provide infrastructure and application support to enterprises at a lower cost than on-premises storage solutions. Therefore, with the adoption of cloud backup services, enterprises are reducing their capital and operational expenditure on IT infrastructure.

Further, the report states that one of the major challenges faced by the market is the latency in data transmission during retrieval from the public cloud infrastructure. Interruptions in data availability can occur when data is retrieved and transmitted to the end-user location.

Key vendors: