Cloud backup and recovery services automatically backup information from different parts of an organization. This helps organizations in avoiding the risk of loss of crucial business data. Also, it facilitates organizations in scaling resources. Moreover, it reduces the burden on IT experts. It also improves the enterprise data security procedures. However, the latency between cloud services can slow down the adoption of cloud backup solutions. Therefore, there is a need for an operational model to make the most of backup solution.

Currently, the average recovery time is a couple of days, although it varies according to the volume of data. The demand for cloud backup is increasing due to the rising number of companies transferring their data to the cloud.

Market Dynamics:

Various industries are deploying cloud-based services. Increasing demand for big data and smart devices have helped increase the adoption of this technology. Moreover, the need to cut down on IT expenses is also driving growth of the global cloud backup & recovery software market. Another driving factor is the increasing number of organizations adopting cloud computing. Besides, the emergence of IaaS providers is another opportunity for the growth of the cloud backup and recovery software market. 

However, the high cost of software and technical limitations, along with slow reaction time of data retrieval are the factors expected to hamper growth of the global cloud backup & recovery market over the forecast period.

Key features of the study:

• This report provides in-depth analysis of the global cloud backup & recovery software market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global cloud backup & recovery software market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Veritas Technologies Llc., Actifio Inc., Veeam Softwares, Commvault Systems Inc., Symantec Corporation, Ca Technologies, Microsoft Corporation, Dell Technologies Inc., Ibm Corporation, and Hewlett Packard Enterprise
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global cloud backup & recovery software market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global cloud backup & recovery software market

Detailed Segmentation:

• Global Cloud Backup & Recovery Software Market, By Deployment Model
  • Private
  • Public
  • Hybrid
• Global Cloud Backup & Recovery Software Market, By User Type
  • Large Enterprises
  • Small & Medium Enterprises
• Global Cloud Backup & Recovery Software Market, By Industry Vertical
  • BFSI
  • Government
  • Healthcare
  • Telecom & IT
  • Retail
  • Manufacturing
  • Others
• Global Cloud Backup & Recovery Software Market, By Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles:
  • Actifio Inc.
  • Commvault Systems Inc.
  • Ca Technologies
  • Dell Technologies Inc.
  • Hewlett Packard Enterprise
  • Ibm Corporation
  • Microsoft Corporation
  • Symantec Corporation
  • Veeam Softwares
  • Veritas Technologies LLC