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Global cloud backup - PowerPoint PPT Presentation

Cloud Backup and Recovery Software Market: Technology Advancement, Demand, Trends and Forecasts 2023

Cloud Backup and Recovery Software Market: Technology Advancement, Demand, Trends and Forecasts 2023

Increased attention on decreasing IT expenditure, high demand for cloud-based services in numerous industry verticals, and rise in backup requirements of enterprises drive the global cloud backup & recovery software market growth. However, latency in data retrieval and interruptions, and storage management and securing backups hamper this growth to a certain extent. The global cloud backup & recovery software market was valued at $4,950 million in 2016, and is projected to reach at $22,228 million by 2023, growing at a CAGR of 24.2% from 2017 to 2023. In 2016, the hybrid segment accounted for the highest revenue share in the global market.

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90 views • 8 slides
Cloud Backup Market Poised to Take Off by 2026

Cloud Backup Market Poised to Take Off by 2026

Cloud Backup Market research provides industry analysis by type, manufacturer, application along with key factors influencing the growth of the market which include growth drivers, restraints, opportunities and challenges, strategically profile key players and comprehensively analyze their market share and core competencies.

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Cloud Backup Market Poised to Take Off by 2026

Cloud Backup Market Poised to Take Off by 2026

Cloud backup also known as online backup or remote backup is an alternative to conventional backup. Cloud backup aids in creating, editing, managing, and restoring data backup. Increasing volume of data is the major factor leading to high demand for cloud backup. According to Coherent Market Insights by 2025, the data sphere will reach up to 163 zettabytes. Increasing adoption of software-as-a-service and various advantages of cloud backup such as easy installation, cost effectiveness, performance, scalability, and flexibility have also accelerated growth of the market

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