Global Cloud Backup and Recovery Market 2018-2022
About Cloud Backup and Recovery
Cloud backup and recovery refers to backing up data online, which involves sending data to a remote server or an on-premises cloud server, which can be recovered when essential.
Technavio’s analysts forecast the global cloud backup and recovery market to grow at a CAGR of 14.00% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global cloud backup and recovery market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Cloud Backup and Recovery Market 2018-2022
Technavio recognizes the following companies as the key players in the global cloud backup and recovery market: Amazon.com, Barracuda Networks, CA, Hewlett Packard Enterprise Development, and NetApp.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is rise in cloud security applications. One of the most significant challenges associated with the hybrid environment is security concerns. But in recent times, IT experts have been claiming that cloud solutions are more secure as compared to onsite data centers.”
According to the report, one driver in the market is reduction in IT expenditure. In recent years, IT firms have doubled their expenditure on IT infrastructure procurement and maintenance to meet the growing demand and remain competitive in the market. This increased spending adds up to the operational cost of the firm
Further, the report states that one challenge in the market is cloud backup data security threats. Most of the cloud backup systems used to be vulnerable to hacking or malware infection. However, such systems have become more secure currently after taking necessary precautions to safeguard the user data. Despite this, there are still chances that such systems can be affected.
Amazon.com, Barracuda Networks, CA, Hewlett Packard Enterprise Development, and NetApp.