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Cost Concerns of Savvy Companies Leads to Swift Uptake of Cloud Backup and Recovery Software

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Published on : Jan 19, 2017

ALBANY, NY, Jan 19, 2017: The report offers key insights into the market by discussing the current trends and competitive dynamics. The 116-page report furnishes information on the current size, revenue, and future prospects in the market.

At the very start, the report provides an overview of the product and its scope. Cloud backup or online backup entails backing up data by sending a copy of the data over a public or proprietary network to an off-site server. The cloud backup and recovery software plays a crucial role in business continuity. Its primary advantages are security and low cost storage. The cloud backup and recovery software market is being bolstered by a growing number of companies keen on reducing their IT expenditure. This is because cloud-based storage infrastructure solutions and application support cost much less than building on-premises storage solutions.

A major challenge is the delay in data transmission from the public cloud infrastructure. Interruptions in data availability can also happen when data is retrieved and transmitted to the end-user location. Having discussed the growth drivers and restraints in the market, the report goes on to segment the cloud backup and recovery software market by type into professional services, managed services, and deployment and integration. Based on application, it segments the market into corporate, government, education, and third-party planners, among others. The report studies each of the segments in much detail and presents key information pertaining to their market share and possible growth trajectory in the near future.

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The report also segments the market based on geography into Europe, North America, Japan, China, Taiwan, and Korea. It throws light on the consumption, production, revenue, market share, and growth prospects of cloud backup and recovery software in each of the geographical segments. North America leads the global cloud backup and recovery software market on account of being a major adopter of cutting-edge technologies. In the years ahead, however, China will likely exhibit stellar growth because of the fast developing IT infrastructure and wider uptake of new technologies. Presence of numerous large organizations and SMEs the Asian countries will also fillip growth in their respective markets.

The global cloud backup and recovery software market is treading on a healthy growth path and is characterized by strong competition due to the presence of both large and medium-sized vendors. Sensing significant opportunity in the market, many new vendors are foraying into it thereby intensifying the competition. In order to gain a competitive edge in the market, bigger companies are gobbling up smaller ones to augment their product line and services. Some of the prominent vendors in the market listed in the report are Dell Software, IBM, HP, Microsoft, and Symantec.

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