Cloud Backup Market Ready to Generate a Revenue of US$ 6367 Million by 2025

 

Cloud Backup Market

In recent years, there has been a significant rise in the demand for cloud backup services, which has led to the growth of the Cloud Backup Market. Cloud backup refers to the process of backing up data to a remote, cloud-based server. With cloud backup, businesses can store their data in a secure and reliable manner, without the need for physical storage devices.

One of the primary drivers of the growth of the Cloud Backup Market is the increasing need for businesses to store and protect their data. In today's digital age, data has become one of the most valuable assets of a business. Companies rely on data for critical business operations, such as decision-making, forecasting, and analysis. In addition, data is also critical for compliance with regulations and laws.

The Global Cloud Backup Market Is Projected To Value At US$ 1287 Million In 2017 And Is Projected To Reach US$ 6367 Million By 2025. The Market Is Estimated To Witness A CAGR Of 22.1 % Over The Forecast Period (2017 – 2025).

However, traditional backup methods, such as tape backups, are no longer sufficient to meet the demands of modern businesses. Tape backups are slow, unreliable, and require physical storage space. Moreover, they are prone to damage and loss due to human error, theft, or natural disasters. Cloud backup, on the other hand, provides a secure and reliable way to store data, without the need for physical storage devices.

Another factor driving the growth of the Cloud Backup Market is the increasing adoption of cloud computing. Cloud computing has become a popular choice for businesses, as it offers numerous benefits, such as scalability, flexibility, and cost-effectiveness. Cloud backup services are a natural extension of cloud computing, as they offer businesses a way to store their data in the cloud.

Cloud backup also offers businesses the ability to access their data from anywhere, at any time. This is particularly useful for businesses that have remote workers, as it allows them to access their data from any location, without the need for physical storage devices. This can improve productivity and collaboration, as well as reduce costs associated with physical storage devices.

The rise in cyber threats and data breaches is also contributing to the growth of the Cloud Backup Market. Cybercriminals are becoming increasingly sophisticated in their attacks, and businesses are at risk of losing their data to these attacks. Cloud backup services offer businesses a way to protect their data from these threats, by providing advanced security features, such as encryption and multi-factor authentication.

Top Companies involved are Amazon Web Services, Barracuda Networks, Inc., Code42 Software, Inc., Datto, Inc., Dropbox, Inc., Druva Software, EMC Corporation, Google Inc., IBM Corporation, Microsoft Corporation, Oracle Corporation, Veeam Software, and VMware Inc.

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