Jul 7, 2023

News provided by Share this article Share this article NEW YORK, July 7, 2023 /PRNewswire/ -- The  cloud backup and recovery market  is set to grow by USD 20,727.97 million from 2022 to 2027, progressing at a CAGR of 18.43% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The reduction in IT expenditure is a major factor driving market growth. IT firms have doubled their expenditure on IT infrastructure procurement and maintenance to fulfill the growing demand and remain competitive in recent years. Most organizations can expect a significant reduction in their functional cost as considerable capital is required to maintain IT infrastructure with cloud backup and recovery. However, the implementation of cloud backup and recovery solutions often enables organizations to save annual operating expenditures and to store data internally. Gathering information remotely does not require internal power, which enables users to save expenses. Expanded adoption of these solutions allows organizations to lower maintenance costs, system upgrades, software patching, and other operation-related functions of an IT department. Such factors will boost the growth of the global cloud backup and recovery market during the forecast period. Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and a forecast period (2023-2027). Download Sample Report in minutes! Cloud Backup And Recovery Market 2023-2027 - Market Dynamics Major Trends The expansion of cloud computing models is an emerging trend supporting market growth. Cloud computing is evolving and is expected to develop rapidly in the upcoming years. Companies are turning to hybrid and serverless cloud architectures to help various applications and reduce operational costs. Moreover, various large cloud services providers, such as AWS, Google Cloud, and Microsoft Azure, are promoting serverless computing models. In order to facilitate the development of enterprise applications for cloud computing, several open-source frameworks have been developed. To develop and deploy applications on their own or at a rapid rate, developers can use specially designed application containers. This has led to the growing popularity of application containers in the business environment. Therefore, cloud services are anticipated to increasingly use tools such as Docker Enterprise, Kubernetes, and Mesosphere for managed containers. The development of cloud computing models is one of the emerging trends which is anticipated to fuel the growth of the global cloud backup and recovery market during the forecast period. Significant Challenge The major challenge impeding market growth is the latency in the cloud network. Latency in data transmission during the retrieval of information from the public cloud infrastructure is one of the major challenges faced by cloud-based networks. Latency in a cloud-based network is not easily predictable and highly complex to measure. Tools for measuring latency, such as Ping and Traceroute, are usually unused. However, there are numerous factors for latency, such as distributed computing, virtualization, and prioritizing traffic. It becomes less predictable when the cloud environment is larger. An expansion in the workload directs to high variability in service delivery. In the case of virtual machines (VMs), separate networks can lead to packet delays. On the other hand, if the wide area network (WAN) on the customer network is busy, it might lead to a significant effect on latency. Data exchanges between cloud services can lead to higher latency, and this delay in data transfer can result in an expanded cost for users of numerous cloud service providers. Therefore, latency in the cloud network can impede the adoption of cloud backup and recovery solutions during the forecast period. What's New? - Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession Global competitiveness and key competitor positions Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial -  Buy the report! Cloud Backup And Recovery Market 2023-2027: Market Segmentation The cloud backup and recovery market segmentation by sector (ICT, manufacturing, BFSI, healthcare, and others), end-user (large enterprises and SMEs), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The market share growth by the ICT segment will be significant during the forecast period. With its overall size and growth, the ICT segment dominates the global cloud backup and recovery market. The ICT sector leads the market primarily due to the rising demand for the digitalization of core business processes. It was common for an enterprise to install servers and storage devices separately for each department before the cloud boom. But, after the integration with cloud-based infrastructure, resource utilization has improved and this scenario is leading to an expansion in the use of servers and a reduction in the total number of servers in use. As a result, a significant change in the server business model will be a major factor contributing to the growth of the segment during the forecast period. This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report Companies Mentioned NetApp Inc. Actifio Inc. - The company offers cloud backup and recovery, such as Actifio GO. Arcserve (USA), LLC - The company offers cloud backup and recovery through its Arcserve cloud service (DRaas). Gain instant access to 17,000+ market research reports. Related Reports The Cloud Security Solutions Market study is a comprehensive report with in-depth qualitative and quantitative research evaluating the current scenario and analyzing the growth of 8.11% and a CAGR of 15.16% with a market size of USD 8.63 billion during the period of 2021 to 2026. This report extensively covers the cloud security solutions market segmentation by end-user (BFSI, healthcare, retail, government, and others), component (cloud IAM, cloud e-mail security, cloud DLP, cloud IDS/IPS, and cloud SIEM), and geography (North America, Europe, APAC, the Middle East and Africa, and South America). Organizations seeking to leverage the benefits of both private and public clouds are increasingly adopting the hybrid cloud model, which allows them to benefit from the security of the private cloud as well as the cost savings of the public cloud. The  Cloud Storage Services Market  is expected to increase by USD 79.89 billion during 2022-2026, accelerating at a CAGR of 18.43% during the forecast period. This report extensively covers market segmentation by end-user (large enterprises and SMEs) and geography (North America, APAC, Europe, South America, and Middle East and Africa). The rising enterprise mobility and the need to improve efficiency are one of the factors driving the market growth. Cloud Backup And Recovery Market Scope Report Coverage Key companies profiled Acronis International GmbH, Actifio Inc., Arcserve (USA), LLC, Asigra Inc., Carbonite Inc., Cohesity Inc., Commvault Systems Inc., Datto Holdings Corp., Google LLC, Hewlett Packard Enterprise Co., International Business Machines Corp., Microsoft Corp., N able Solutions ULC and N able Technologies Ltd., NetApp Inc., Oracle Corp., Quest Technology Management, Rackspace Technology Inc., Redstor, Unitrends Inc., Veeam Software Group GmbH, and Veritas Technologies LLC Market dynamics Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period Customization purview If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. Key Topics Covered: Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million) Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million) Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%) Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%) 4 Historic Market Size 4.1 Global cloud backup and recovery market 2017 - 2021 Exhibit 18: Historic Market Size – Data Table on Global cloud backup and recovery market 2017 - 2021 ($ million) 4.2 Sector Segment Analysis 2017 - 2021 Exhibit 19: Historic Market Size – Sector Segment 2017 - 2021 ($ million) 4.3 End-user Segment Analysis 2017 - 2021 Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 ($ million) 4.4 Geography Segment Analysis 2017 - 2021 Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million) 4.5 Country Segment Analysis 2017 - 2021 Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million) 5 Five Forces Analysis Exhibit 33: Data Table on Comparison by Sector 6.3 ICT - Market size and forecast 2022-2027 Exhibit 34: Chart on ICT - Market size and forecast 2022-2027 ($ million) Exhibit 35: Data Table on ICT - Market size and forecast 2022-2027 ($ million) Exhibit 36: Chart on ICT - Year-over-year growth 2022-2027 (%) Exhibit 37: Data Table on ICT - Year-over-year growth 2022-2027 (%) 6.4 Manufacturing - Market size and forecast 2022-2027 Exhibit 38: Chart on Manufacturing - Market size and forecast 2022-2027 ($ million) Exhibit 39: Data Table on Manufacturing - Market size and forecast 2022-2027 ($ million) Exhibit 40: Chart on Manufacturing - Year-over-year growth 2022-2027 (%) Exhibit 41: Data Table on Manufacturing - Year-over-year growth 2022-2027 (%) 6.5 BFSI - Market size and forecast 2022-2027 Exhibit 42: Chart on BFSI - Market size and forecast 2022-2027 ($ million) Exhibit 43: Data Table on BFSI - Market size and forecast 2022-2027 ($ million) Exhibit 44: Chart on BFSI - Year-over-year growth 2022-2027 (%) Exhibit 45: Data Table on BFSI - Year-over-year growth 2022-2027 (%) 6.6 Healthcare - Market size and forecast 2022-2027 Exhibit 46: Chart on Healthcare - Market size and forecast 2022-2027 ($ million) Exhibit 47: Data Table on Healthcare - Market size and forecast 2022-2027 ($ million) Exhibit 48: Chart on Healthcare - Year-over-year growth 2022-2027 (%) Exhibit 49: Data Table on Healthcare - Year-over-year growth 2022-2027 (%) 6.7 Others - Market size and forecast 2022-2027 Exhibit 50: Chart on Others - Market size and forecast 2022-2027 ($ million) Exhibit 51: Data Table on Others - Market size and forecast 2022-2027 ($ million) Exhibit 52: Chart on Others - Year-over-year growth 2022-2027 (%) Exhibit 53: Data Table on Others - Year-over-year growth 2022-2027 (%) 6.8 Market opportunity by Sector Exhibit 54: Market opportunity by Sector ($ million) 7 Market Segmentation by End-user 7.1 Market segments Exhibit 58: Data Table on Comparison by End-user 7.3 Large enterprises - Market size and forecast 2022-2027 Exhibit 59: Chart on Large enterprises - Market size and forecast 2022-2027 ($ million) Exhibit 60: Data Table on Large enterprises - Market size and forecast 2022-2027 ($ million) Exhibit 61: Chart on Large enterprises - Year-over-year growth 2022-2027 (%) Exhibit 62: Data Table on Large enterprises - Year-over-year growth 2022-2027 (%) 7.4 SMEs - Market size and forecast 2022-2027 Exhibit 63: Chart on SMEs - Market size and forecast 2022-2027 ($ million) Exhibit 64: Data Table on SMEs - Market size and forecast 2022-2027 ($ million) Exhibit 65: Chart on SMEs - Year-over-year growth 2022-2027 (%) Exhibit 66: Data Table on SMEs - Year-over-year growth 2022-2027 (%) 7.5 Market opportunity by End-user Exhibit 67: Market opportunity by End-user ($ million) 8 Customer Landscape Exhibit 72: Data Table on Geographic comparison 9.3 North America - Market size and forecast 2022-2027 Exhibit 73: Chart on North America - Market size and forecast 2022-2027 ($ million) Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 ($ million) Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%) Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%) 9.4 Europe - Market size and forecast 2022-2027 Exhibit 77: Chart on Europe - Market size and forecast 2022-2027 ($ million) Exhibit 78: Data Table on Europe - Market size and forecast 2022-2027 ($ million) Exhibit 79: Chart on Europe - Year-over-year growth 2022-2027 (%) Exhibit 80: Data Table on Europe - Year-over-year growth 2022-2027 (%) 9.5 APAC - Market size and forecast 2022-2027 Exhibit 81: Chart on APAC - Market size and forecast 2022-2027 ($ million) Exhibit 82: Data Table on APAC - Market size and forecast 2022-2027 ($ million) Exhibit 83: Chart on APAC - Year-over-year growth 2022-2027 (%) Exhibit 84: Data Table on APAC - Year-over-year growth 2022-2027 (%) 9.6 South America - Market size and forecast 2022-2027 Exhibit 85: Chart on South America - Market size and forecast 2022-2027 ($ million) Exhibit 86: Data Table on South America - Market size and forecast 2022-2027 ($ million) Exhibit 87: Chart on South America - Year-over-year growth 2022-2027 (%) Exhibit 88: Data Table on South America - Year-over-year growth 2022-2027 (%) 9.7 Middle East and Africa - Market size and forecast 2022-2027 Exhibit 89: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million) Exhibit 90: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million) Exhibit 91: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%) Exhibit 92: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%) 9.8 US - Market size and forecast 2022-2027 Exhibit 93: Chart on US - Market size and forecast 2022-2027 ($ million) Exhibit 94: Data Table on US - Market size and forecast 2022-2027 ($ million) Exhibit 95: Chart on US - Year-over-year growth 2022-2027 (%) Exhibit 96: Data Table on US - Year-over-year growth 2022-2027 (%) 9.9 Canada - Market size and forecast 2022-2027 Exhibit 97: Chart on Canada - Market size and forecast 2022-2027 ($ million) Exhibit 98: Data Table on Canada - Market size and forecast 2022-2027 ($ million) Exhibit 99: Chart on Canada - Year-over-year growth 2022-2027 (%) Exhibit 100: Data Table on Canada - Year-over-year growth 2022-2027 (%) 9.10 UK - Market size and forecast 2022-2027 Exhibit 101: Chart on UK - Market size and forecast 2022-2027 ($ million) Exhibit 102: Data Table on UK - Market size and forecast 2022-2027 ($ million) Exhibit 103: Chart on UK - Year-over-year growth 2022-2027 (%) Exhibit 104: Data Table on UK - Year-over-year growth 2022-2027 (%) 9.11 China - Market size and forecast 2022-2027 Exhibit 105: Chart on China - Market size and forecast 2022-2027 ($ million) Exhibit 106: Data Table on China - Market size and forecast 2022-2027 ($ million) Exhibit 107: Chart on China - Year-over-year growth 2022-2027 (%) Exhibit 108: Data Table on China - Year-over-year growth 2022-2027 (%) 9.12 Germany - Market size and forecast 2022-2027 Exhibit 109: Chart on Germany - Market size and forecast 2022-2027 ($ million) Exhibit 110: Data Table on Germany - Market size and forecast 2022-2027 ($ million) Exhibit 111: Chart on Germany - Year-over-year growth 2022-2027 (%) Exhibit 112: Data Table on Germany - Year-over-year growth 2022-2027 (%) 9.13 Market opportunity by geography Exhibit 113: Market opportunity by geography ($ million) 10 Drivers, Challenges, and Trends 10.1 Market drivers About Us Technavio is a leading global technology research and advisory company. 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