Global Cloud Backup & Recovery Software Market Size, Status and Forecast 2020-2026

Cloud backup involves backing up of electronic data by sending a copy of the data over the proprietary or public network to a remote network server. Recovery and cloud backup play a vital role in business continuity strategy. The adoption of cloud backup provides additional benefits such as cost saving, and security, storage, and virtualization of the data. Cloud storage solutions provide infrastructure and application support to enterprises at a lower cost than on-premises storage solutions.
The cloud backup & recovery software market is driven by the need for companies to reduce their IT expenditure, increase in demand for cloud-based services across several industry verticals, and surge in backup requirements of enterprises. Furthermore, emergence of IaaS and on-demand cloud providers, increased adoption of smart devices and tablets, and high demand for big data and social networking present numerous opportunities for market progression.

Hybrid is expected to grow at a significant pace during the forecast period. The IT & telecom segment led the market in 2017, and is expected to continue to this trend in the near future. Furthermore, North America is expected to dominate overall market during the forecast period, as it is the highest adopter of cloud storage solutions.

Market Analysis and Insights: Global Cloud Backup & Recovery Software Market
The global Cloud Backup & Recovery Software market size is projected to reach US$ 22640 million by 2026, from US$ 7734.1 million in 2020, at a CAGR of 19.6% during 2021-2026.
With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Cloud Backup & Recovery Software market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Cloud Backup & Recovery Software market in terms of revenue.
On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Cloud Backup & Recovery Software market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Cloud Backup & Recovery Software market.

Global Cloud Backup & Recovery Software Scope and Market Size
Cloud Backup & Recovery Software market is segmented by Type, and by Application. Players, stakeholders, and other participants in the global Cloud Backup & Recovery Software market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by Type and by Application in terms of revenue and forecast for the period 2015-2026.

Market segment by Type, the product can be split into

Private
Public
Hybrid

Market segment by Application, split into

BFSI
Government
Healthcare
Telecom & IT
Retail
Manufacturing
Others

Based on regional and country-level analysis, the Cloud Backup & Recovery Software market has been segmented as follows:
North America
United States
Canada
Europe
Germany
France
U.K.
Italy
Russia
Nordic
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia-Pacific
Latin America
Mexico
Brazil
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of Middle East & Africa

In the competitive analysis section of the report, leading as well as prominent players of the global Cloud Backup & Recovery Software market are broadly studied on the basis of key factors. The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2015-2020. It also offers detailed analysis supported by reliable statistics on price and revenue (global level) by player for the period 2015-2020.

The key players covered in this study

Veritas Technologies LLC
Veeam Software
Commvault
IBM Corporation
Dell EMC
Broadcom
Symantec Corporation
Microsoft Corporation