About Cloud Backup and Recovery Software
Cloud or online backup is a method of backing up data that involves sending copies of the data over a public cloud. The server is usually hosted by a third-party service provider that charges the customer a fee based on bandwidth, capacity, number of users, and backup.
Cloud backup and recovery solutions securely copy the files to many servers. These solutions are safe from hard drive failures that are common with PCs. The files are also encrypted so that no one other than the user can view them, protecting the data from viruses and hackers. As well, cloud backup and recovery solutions allow fast and easy access to all backed-up files.
Technavio’s analysts forecast the global cloud backup and recovery software market to grow at a CAGR of 12.94% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global cloud backup and recovery software market for 2016-2020. To calculate the market size, the report considers the revenue generated from software licenses, maintenance fees, and services. It also presents the vendor landscape and a corresponding detailed analysis of the five vendors operating in the market, which were selected based on their revenue generated from cloud backup and recovery software sales and services.
The market is divided into the following segments based on end-user:
Technavio Announces the Publication of its Research Report – Global Cloud Backup and Recovery Software Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Cloud Backup and Recovery Software Market: CA Technologies, CommVault, EMC, IBM, Microsoft and Symantec.
Other Prominent Vendors in the market are: Acronis, Actifio, Asigra, Carbonite, Dell Software, EVault, FalconStor Software, HP, Intronis, NetApp, Unitrends, and Veeam Software.
Commenting on the report, an analyst from Technavio’s team said: “With the advent of IaaS and on-demand cloud providers like Amazon Web Services, new virtualization strategies have emerged. Most enterprises are quickly adopting these strategies to eliminate infrastructure limitations by developing and deploying applications on a single piece of hardware.”
According to the report, the global cloud backup and recovery software market is driven by several factors, including companies' need to reduce their IT spending. These cloud storage solutions provide infrastructure and application support to enterprises at a lower cost than on-premises storage solutions. Therefore, with the adoption of cloud backup services, enterprises are reducing their capital and operational expenditure on IT infrastructure.
Further, the report states that one of the major challenges faced by the market is the latency in data transmission during retrieval from the public cloud infrastructure. Interruptions in data availability can occur when data is retrieved and transmitted to the end-user location.
CA Technologies, CommVault, EMC, IBM, Microsoft, Symantec, Acronis, Actifio, Asigra, Carbonite, Dell Software, EVault, FalconStor Software, HP, Intronis, NetApp, Unitrends, Veeam Software.