Cloud Backup Market with Top Companies like: Amazon Web Services Inc, Microsoft Corporation, IBM Corporation, VMware
The demand for cloud backup is increasing due to huge volume of data generation, lower cost and higher efficiency than on-premises backup.
PORTLAND, PORTLAND, OR, USA, March 10, 2022 /EINPresswire.com/ — Cloud storage is a method used to store an enormous amount of information online, which can be accessed remotely at any time. It helps the user to back up data online, instead of storing it offsite, which can be costly. Some of the key features of cloud backup are better real-time accessibility, low implementation cost, user-friendly technology, and data availability at any remote location. Storage limitation and poor cloud backup support are some of the drawbacks of cloud backup technology.
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Amazon Web Services Inc., Microsoft Corporation, IBM Corporation, VMware Inc., Dropbox Inc., Google Inc., Oracle Corporation, HP Enterprise Company, EMC Corporation, and Rockspace Hosting Inc. are some of the major key players in the backup market in the cloud. .
Rising adoption of mobile devices and easy deployment of cloud backup technology is driving the cloud backup market over the years. However, the accessibility of data through the internet poses a threat of identity theft, which is restraining the growth of the market. Moreover, lack of high network bandwidth and strict government regulations limit the adoption of cloud backup technique. Rising number of mobile internet users and need for technologically advanced solutions are expected to further drive the market growth over the forecast period.
The market is characterized by its growth phase and the presence of a large number of small and medium-sized sellers. Major players are adopting strategies such as acquisition and partnership to increase their range of products and services; for example, Amazon web services Inc. acquired Elemental Technologies Inc. in September 2015.
By deployment model, the cloud backup market is segmented into large and small and medium enterprises. Based on industry vertical, the market is divided into banking, financial services and insurance (BFSI), consumer goods and retail, education, manufacturing, media and entertainment, public sector, healthcare and life sciences. life, etc Based on geography, the mobile backup market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
• Qualitative analysis was performed to understand the current market scenario.
• The report includes an in-depth analysis of the cloud backup market, outlining possible driving factors, restraints, and opportunities.
• The report outlines the key investment pockets, key impacting factors and winning strategies for the global cloud backup market.
• Major market players have been identified with their market strategies such as product launch, mergers and acquisitions, and partnerships among others.
• A comprehensive analysis of factors driving and restraining the growth of the Global Cloud Backup Market is provided. For example, the growing trend of BYOD is driving the global cloud backup market. However, data security is likely to be a major market constraint.
• An in-depth analysis of the cloud backup market is conducted by monitoring the major competitors within the scope of the market.
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