Impact of COVID-19 on Economy, Industry and Company :
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in significant demand & supply gap, production delay and weak consumer demand of end products across industries. At Bizizz Market Research, our analyst has done extensive research across industries and identify various methodologies which would assist C-Level executive to counter this ongoing threat and make informed business decision.
Kindly contact us to know more details: https://www.bizizzmarketresearch.com/contact
"Global Cloud Back Up Market was Valued at US$ XX Bn in 2019 and it is Expected to Reach More than US$ XX Bn by 2028, Likely to Grow with the CAGR of 26.4% During the Forecast Period.”
Cloud back up is also known as remote back up or online backup is the method of sending a virtual or physical file or database to a secondary server. The storage system and secondary server are usually hosted by the third party service provider. These service provider charge fees for using back up service from customer, based upon on capacity or storage space used, number of users, number of times data is accessed, data transmission bandwidth.
Utilizing cloud back up can help the organization’s data protection strategy without increasing the workload of information technology staff. In any company’s data centre, a cloud back up application copies data and stores it on a different media or another storage system for easy access in the event of a recovery situation. The backup software that the company uses to send its data to the service may be provided as part of the service, or the service may support specific commercially-available backup applications. These factor is expected to drives to cloud back up market.
Growing adoption of smartphones devices and deployment of cloud back up technology is boosting the cloud back up market. Some of features of cloud back up are low implementation cost, improved real time accessibility, user friendly technology and availability of the data at any remote location.
By Service Provider, Cloud Based Service is Expected to Account for Major Share of Global Cloud Back up Market
Cloud based services dominated the majority of the market size in 2018. The service allows the users to store data file online, so that they can access them from any location via the Internet. According to a recent study conducted with more than 800 business enterprise decision makers and users worldwide, the number of organizations gaining competitive advantage through high cloud adoption has almost doubled in the last few years and by 2017, the public cloud services market is predicted to exceed US$ 244 Bn.
Asia Pacific held a significant share in Global Cloud Backup Market in 2018.
By geography, the cloud back up market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The cloud back up market in the Asia Pacific has been growing at a significant pace in recent years. In 2018 the region accounted for little under 44.2% share of the market. The telecom industry is among the foremost sought after industries over the world. Governments have been steadfast in contributing within the services for data security, and this figure has generally supported market development. Besides, the nearness of an expansive segment has too helped the development of the worldwide cloud back upmarket in later times.
Several economics factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific. The market in Asia Pacific is projected to have quickest growth with highest CAGR, owing to growing adoption for cloud backup services and high internet penetration are anticipated to boost growth of the global cloud backup market.
The Global Cloud Back up Market is very competitive with the presence of a large number of global and local/regional manufacturers. Key manufacturers such as Backblaze, Acronis International GmbH, Asigra Inc, Barracuda Networks, Inc, Carbonite, Inc., Datto, Inc., Code42 Software, Inc., Druva, Carbonite, Inc., IBM, Iron Mountain Incorporated, Microsoft, Oracle, Veeam, Amazon Web Services Inc., RACKSPACE US, INC, Google, among others. In the current scenario, Asia Pacific and North America are projected to account for more than half of the market share of the global Cloud Back Up market due to higher demand in these regions.
By Product Type
- Training & Consulting
- Support & Maintenance
- System Integration
By Service Provider
- Cloud Service Provider
- Managed Service Provider
- Telecom and Communication Service Provider
By Cloud Deployment
- Public Cloud
- Private Cloud
- Hybrid Cloud
By Organization Size
- Small Sized ( Less Than US$ 1 Mn)
- Medium Sized ( US$ 1 Mn– US$ 40 Mn)
- Large Sized( More Than US$ 40 Mn)
By Business Verticals
- Consumer Goods & Retail
- Government & Public Sector
- Medical & Healthcare
- Banking , Financial Services & Insurance
- Telecommunication & ITES
- Entertainment & Mass Media
- North America
- Asia- Pacific
- Middle East and Africa
- Latin America