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2018 Cloud Backup & Recovery Software Market Report - Global Forecast to 2023
DUBLIN, June 11, 2018 /PRNewswire/ --
The "Cloud Backup & Recovery Software Market by Deployment Model, User Type and Industry Vertical - Global Opportunity Analysis and Industry Forecast, 2017-2023" report has been added to ResearchAndMarkets.com's offering.
 Cloud or online backup is a process involving backing up of electronic data by sending a copy of the data over the proprietary or public network to a remote network server. The server is usually hosted by a third party service provider which charges the customer fees based on backup file, bandwidth, number of users and capacity. Cloud backup and recovery software securely copy the files to many servers. It is also encrypted so that no user can view them and protect the data from viruses and hackers. The adoption of cloud backup provides additional benefits such as cost saving, security, storage, virtualization, fast and easy access to backed up files.
Increasing focus on reducing IT expenditure drives the global cloud backup & recovery software market. Moreover, rising demand for cloud based services across several industry verticals and growing backup requirements of enterprises drive the growth of the global cloud backup & recovery software market. However, latency in data retrieval and interruptions as well as storage management and securing backups are expected to impede the market growth. Increasing adoption of these solutions among SME's and emergence of new trends such as Infrastructure as a service (IaaS), IoT in the market is expected to provide numerous opportunities for the market.
MARKET DYNAMICS
Drivers
- Increasing focus on reducing IT expenditure
- Rising demand for cloud based services across several industry verticals
- Growing backup requirements of enterprises
Restraints
- Latency in data retrieval and interruptions
- Storage management and securing backups
Opportunities
- Increasing adoption of these solutions among SMEs
- Emergence of new trends
KEY MARKET SEGMENTS
BY DEPLOYMENT MODEL
BY USER TYPE
- Large Enterprises
- Small and Medium Enterprises
BY INDUSTRY VERTICAL
- BFSI
- Government
- Healthcare
- Telecom & IT
- Retail
- Manufacturing
- Others
Global cloud backup & recovery market is dominated by the key players such as
- Veritas Technologies LLC
- Veeam Software
- Commvault
- IBM Corporation
- Dell EMC
- CA Technologies
- Symantec Corporation
- Microsoft Corporation
- Hewlett Packard Enterprise
- Actifio Inc.
For more information about this report visit https://www.researchandmarkets.com/research/7c8xnn/2018_cloud_backup?w=5
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SOURCE Research and Markets
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