The Estimated Value Of The Worldwide Cloud Backup Market Is US$ 1287 Million In 2017 And US$ 6367 Million In 2026

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Cloud Backup Market
Cloud Backup Market

An alternative to traditional backup is cloud backup, commonly referred to as online backup or remote backup. It provides a number of features, including the ability to create, update, manage, and restore data backups. The main cause of the growing demand for cloud backup is the growth in data volume. By 2025, Cloud Backup Market estimates that the world's data would amount to up to 163 zettabytes. The market's expansion has also been propelled by the rising popularity of software-as-a-service and the several benefits of cloud backup, including its simplicity, cost-effectiveness, performance, scalability, and flexibility.

In terms of components, the solution sector dominated the market in 2016. The segment's growth has been sped up by rising demand for managing enormous volumes of data and rising cloud adoption. Management and customization, professional services, training & consulting, and integrations are the sub-segments of the service Cloud Backup Market. Over the forecast period, the integration service sub-segment is anticipated to have the greatest CAGR. Cost-effective business procedures are made possible through integration services. The integrator is a set of pre-built tools and connections that makes it easier to integrate cloud services like real-time data access and data access from remote locations.

The public cloud deployment model dominated the Cloud Backup Market in 2016 in terms of deployment types. One of the major drivers of market expansion is the rise of the public cloud workload. The public cloud accounted for about 49% of cloud workload in 2015, and Coherent Market Insights predicts that percentage would rise to 68% by 2020. In addition, a number of benefits, including scalability, affordability, dependability, and location independence, are anticipated to increase demand for cloud backup. In 2016, the public cloud segment dominated the global cloud backup for market.

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