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Cloud Backup Market

Global Cloud Backup Market Size, Share, Growth, Forecast: By Component: Solution, Services; By Deployment Mode: Public Cloud, Private Cloud, Hybrid Cloud; By Enterprise Size: Small and Medium Enterprises, Large Enterprises; By End Use: BFSI, IT and Telecom, Media and Entertainment, Others; Regional Analysis; Competitive Landscape; 2023-2028

Global Cloud Backup Market Outlook

The global cloud backup market size reached approximately USD 3.9 billion in 2022. The market is assessed to grow at a CAGR of 20.30% between 2023 and 2028 to attain a value of around USD 12.1 billion by 2028.

 

Key Trends in the Market

Cloud backup, variously known as online backup, refers to a service that enables users to back their data off-site. The data backed up in the cloud can be accessed anytime and anywhere using the internet. Cloud backup is increasingly adopted by businesses as an alternative to on-premise backup models as it can keep the data safe during power outages or natural disasters.

 

  • Companies have been shifting towards cloud platforms to drive digital transformation, enhance their flexibility, agility, and scalability, and improve overall performance. This has significantly surged the usage of cloud backup for storing data securely, minimising the risk of unauthorised data access, and simplifying the task of backing up data.
  • One of the major cloud backup market trends is the rising popularity of hybrid and remote work, surging the requirement for flexible backup solutions. Cloud models can provide seamless and automated backup as well as excellent scalability while reducing the reliance on hardware and local devices.
  • The increasing focus on cybersecurity, evolving threat landscapes, and the increasing amount of data are expected to positively impact the cloud backup market growth. Moreover, multi-cloud backup is gaining significant popularity as it can surge fault tolerance, reduce single points of failure, and effectively deploy cloud resources.

 

Market Analysis

Based on components, the market is segmented into solution and services. On the basis of deployment mode, the market can be divided into public cloud, private cloud, and hybrid cloud. By enterprise size, the market is bifurcated into small and medium enterprises and large enterprises.

 

By end use, the cloud backup market segmentation includes BFSI, IT and telecom, media and entertainment, retail, and healthcare, among others. The major regional markets for cloud backup include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global cloud backup market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

 

  • Microsoft Corporation 
  • Amazon Web Services, Inc. 
  • IBM Corporation 
  • Hewlett Packard Enterprise Development LP 
  • Oracle Corporation 
  • Dell Inc. 
  • Dropbox, Inc. 
  • Backblaze, Inc. 
  • Barracuda Networks, Inc. 
  • Open Text Corporation (Carbonite) 
  • Acronis International GmbH 
  • Cohesity, Inc. 
  • Others

 

Market Share by End Use

The BFSI sector accounts for a significant portion of the cloud backup market share. With the increasing number of non-cash payments and the rising usage of the internet and smartphones for instant payment, banking and financial institutions have become vulnerable to cybercrimes and data breaches. Moreover, the introduction of various regulations aimed at ensuring data security, backup, storage, and maintenance is driving the adoption of cloud backup solutions among BFSI organisations.

 

Meanwhile, the demand for cloud backup solutions in the healthcare sector is surging amid the rising amount of data and increasing concerns regarding patients’ data breaches or losses. The rising incidences of natural disasters, power outages, and other factors leading to data loss are further bolstering the usage of cloud backup by healthcare organisations due to their security, cost-effectiveness, and scalability.

 

Market Share by Region

According to the cloud backup market analysis, North America represents a substantial market share due to rapid digital transformation in the region. The rising adoption of technologies like IoT and AI is leading to a surge in data amount, boosting the requirement for cloud backup solutions. Besides, the introduction of stringent government initiatives aimed at ensuring the safety of data in sectors like healthcare, IT, and BFSI is likely to drive the market demand in the coming years.

 

Competitive Landscape

Hewlett Packard Enterprise Development LP is a prominent edge-to-cloud company that was founded in 1939. The company supports organisations to accelerate their outcomes by using open, intelligent, and unique technology solutions as a service. Some of its offerings include software, cloud services, intelligent edge, computing, AI, and storage, among others.

 

Barracuda Networks, Inc. is a leading provider of enterprise-grade and cloud-enabled security solutions that can be easily used and deployed. The company is headquartered in California, the United States, and supports customers to protect data, employees, and applications from various threats.

 

IBM Corporation, founded in 1911, is one of the biggest providers of consulting expertise, AI, and hybrid cloud. With a presence in over 175 countries, the company aims to help businesses reduce costs, streamline various processes, and gain a competitive advantage. Its products and solutions are utilised by governments, healthcare organisations, and financial institutions, among others.

 

Other cloud backup market players include Microsoft Corporation, Amazon Web Services, Inc., Oracle Corporation, Dell Inc., Dropbox, Inc., Backblaze, Inc., Open Text Corporation (Carbonite), Acronis International GmbH, and Cohesity, Inc., among others.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Component
  • Deployment Mode
  • Enterprise Size
  • End Use
  • Region
Breakup by Component
  • Solution
  • Services
Breakup by Deployment Mode
  • Public Cloud
  • Private Cloud
  • Hybrid Cloud
Breakup by Enterprise Size
  • Small and Medium Enterprises
  • Large Enterprises
Breakup by End Use
  • BFSI
  • IT and Telecom
  • Media and Entertainment
  • Retail
  • Healthcare
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Microsoft Corporation 
  • Amazon Web Services, Inc. 
  • IBM Corporation 
  • Hewlett Packard Enterprise Development LP 
  • Oracle Corporation 
  • Dell Inc. 
  • Dropbox, Inc. 
  • Backblaze, Inc. 
  • Barracuda Networks, Inc. 
  • Open Text Corporation (Carbonite) 
  • Acronis International GmbH 
  • Cohesity, Inc. 
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description   
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Cloud Backup Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Cloud Backup Historical Market (2018-2022) 
    8.3    Global Cloud Backup Market Forecast (2023-2028)
    8.4    Global Cloud Backup Market by Component
        8.4.1    Solution
            8.4.1.1    Historical Trend (2018-2022)
            8.4.1.2    Forecast Trend (2023-2028)
        8.4.2    Services
            8.4.2.1    Historical Trend (2018-2022)
            8.4.2.2    Forecast Trend (2023-2028)
    8.5    Global Cloud Backup Market by Deployment Mode
        8.5.1    Public Cloud
            8.5.1.1    Historical Trend (2018-2022)
            8.5.1.2    Forecast Trend (2023-2028)
        8.5.2    Private Cloud
            8.5.2.1    Historical Trend (2018-2022)
            8.5.2.2    Forecast Trend (2023-2028)
        8.5.3    Hybrid Cloud
            8.5.3.1    Historical Trend (2018-2022)
            8.5.3.2    Forecast Trend (2023-2028)
    8.6    Global Cloud Backup Market by Enterprise Size 
        8.6.1    Small and Medium Enterprises
            8.6.1.1    Historical Trend (2018-2022)
            8.6.1.2    Forecast Trend (2023-2028)
        8.6.2    Large Enterprises
            8.6.2.1    Historical Trend (2018-2022)
            8.6.2.2    Forecast Trend (2023-2028)
    8.7    Global Cloud Backup Market by End Use
        8.7.1    BFSI
            8.7.1.1    Historical Trend (2018-2022)
            8.7.1.2    Forecast Trend (2023-2028)
        8.7.2    IT and Telecom
            8.7.2.1    Historical Trend (2018-2022)
            8.7.2.2    Forecast Trend (2023-2028)
        8.7.3    Media and Entertainment
            8.7.3.1    Historical Trend (2018-2022)
            8.7.3.2    Forecast Trend (2023-2028)
        8.7.4    Retail
            8.7.4.1    Historical Trend (2018-2022)
            8.7.4.2    Forecast Trend (2023-2028)
        8.7.5    Healthcare
            8.7.5.1    Historical Trend (2018-2022)
            8.7.5.2    Forecast Trend (2023-2028)
        8.7.6    Others
    8.8    Global Cloud Backup Market by Region
        8.8.1    North America
            8.8.1.1    Historical Trend (2018-2022)
            8.8.1.2    Forecast Trend (2023-2028)
        8.8.2    Europe
            8.8.2.1    Historical Trend (2018-2022)
            8.8.2.2    Forecast Trend (2023-2028)
        8.8.3    Asia Pacific
            8.8.3.1    Historical Trend (2018-2022)
            8.8.3.2    Forecast Trend (2023-2028)
        8.8.4    Latin America
            8.8.4.1    Historical Trend (2018-2022)
            8.8.4.2    Forecast Trend (2023-2028)
        8.8.5    Middle East and Africa
            8.8.5.1    Historical Trend (2018-2022)
            8.8.5.2    Forecast Trend (2023-2028)
9    North America Cloud Backup Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2022)
        9.1.2    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Historical Trend (2018-2022)
        9.2.2    Forecast Trend (2023-2028)
10    Europe Cloud Backup Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2022)
        10.1.2    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Historical Trend (2018-2022)
        10.2.2    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Historical Trend (2018-2022)
        10.3.2    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Historical Trend (2018-2022)
        10.4.2    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Cloud Backup Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2022)
        11.1.2    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Historical Trend (2018-2022)
        11.2.2    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Historical Trend (2018-2022)
        11.3.2    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2022)
        11.4.2    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Historical Trend (2018-2022)
        11.5.2    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Cloud Backup Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2022)
        12.1.2    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2022)
        12.2.2    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2022)
        12.3.2    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Cloud Backup Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2022)
        13.1.2    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2022)
        13.2.2    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2022)
        13.3.2    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2022)
        13.4.2    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price  
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    Microsoft Corporation 
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Amazon Web Services, Inc. 
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    IBM Corporation 
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Hewlett Packard Enterprise Development LP 
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Oracle Corporation 
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Dell Inc. 
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Dropbox, Inc. 
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    Backblaze, Inc. 
            15.2.8.1    Company Overview
            15.2.8.2    Product Portfolio
            15.2.8.3    Demographic Reach and Achievements
            15.2.8.4    Certifications
        15.2.9    Barracuda Networks, Inc. 
            15.2.9.1    Company Overview
            15.2.9.2    Product Portfolio
            15.2.9.3    Demographic Reach and Achievements
            15.2.9.4    Certifications
        15.2.10    Open Text Corporation (Carbonite) 
            15.2.10.1    Company Overview
            15.2.10.2    Product Portfolio
            15.2.10.3    Demographic Reach and Achievements
            15.2.10.4    Certifications
        15.2.11    Acronis International GmbH 
            15.2.11.1    Company Overview
            15.2.11.2    Product Portfolio
            15.2.11.3    Demographic Reach and Achievements
            15.2.11.4    Certifications
        15.2.12    Cohesity, Inc. 
            15.2.12.1    Company Overview
            15.2.12.2    Product Portfolio
            15.2.12.3    Demographic Reach and Achievements
            15.2.12.4    Certifications
        15.2.13    Others
16    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Cloud Backup Market: Key Industry Highlights, 2018 and 2028
2.    Global Cloud Backup Historical Market: Breakup by Component (USD Billion), 2018-2022
3.    Global Cloud Backup Market Forecast: Breakup by Component (USD Billion), 2023-2028
4.    Global Cloud Backup Historical Market: Breakup by Deployment Mode (USD Billion), 2018-2022
5.    Global Cloud Backup Market Forecast: Breakup by Deployment Mode (USD Billion), 2023-2028
6.    Global Cloud Backup Historical Market: Breakup by Enterprise Size (USD Billion), 2018-2022
7.    Global Cloud Backup Market Forecast: Breakup by Enterprise Size (USD Billion), 2023-2028
8.    Global Cloud Backup Historical Market: Breakup by End Use (USD Billion), 2018-2022
9.    Global Cloud Backup Market Forecast: Breakup by End Use (USD Billion), 2023-2028
10.    Global Cloud Backup Historical Market: Breakup by Region (USD Billion), 2018-2022
11.    Global Cloud Backup Market Forecast: Breakup by Region (USD Billion), 2023-2028
12.    North America Cloud Backup Historical Market: Breakup by Country (USD Billion), 2018-2022
13.    North America Cloud Backup Market Forecast: Breakup by Country (USD Billion), 2023-2028
14.    Europe Cloud Backup Historical Market: Breakup by Country (USD Billion), 2018-2022
15.    Europe Cloud Backup Market Forecast: Breakup by Country (USD Billion), 2023-2028
16.    Asia Pacific Cloud Backup Historical Market: Breakup by Country (USD Billion), 2018-2022
17.    Asia Pacific Cloud Backup Market Forecast: Breakup by Country (USD Billion), 2023-2028
18.    Latin America Cloud Backup Historical Market: Breakup by Country (USD Billion), 2018-2022
19.    Latin America Cloud Backup Market Forecast: Breakup by Country (USD Billion), 2023-2028
20.    Middle East and Africa Cloud Backup Historical Market: Breakup by Country (USD Billion), 2018-2022
21.    Middle East and Africa Cloud Backup Market Forecast: Breakup by Country (USD Billion), 2023-2028
22.    Global Cloud Backup Market Structure

Key Questions Answered in the Report

What was the global cloud backup market value in 2022?

In 2022, the market attained a value of nearly USD 3.9 billion.

What is the growth rate of the cloud backup market?

The market is assessed to grow at a CAGR of 20.30% between 2023 and 2028.

What is the forecast outlook of the cloud backup market for 2023-2028?

The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 12.1 billion by 2028.

What are the major market drivers?

The major market drivers include the growing digital transformation, the increasing awareness regarding the benefits of cloud backup, and the rising popularity of hybrid and remote work.

What are the key trends of the market?

The key trends aiding the market growth are the rising adoption of technologies like IoT and AI, the growing demand for cloud backup solutions in the healthcare sector, and the increasing focus on cybersecurity.

What are the major regional markets of cloud backup, according to the EMR report?

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the major components of cloud backup?

The major components of cloud backup are solution and services.

What are the significant end uses of cloud backup?

The significant end uses of cloud backup are BFSI, IT and telecom, media and entertainment, retail, and healthcare, among others.

Who are the key players, according to the cloud backup market report?

The major players in the market are Microsoft Corporation, Amazon Web Services, Inc., IBM Corporation, Hewlett Packard Enterprise Development LP, Oracle Corporation, Dell Inc., Dropbox, Inc., Backblaze, Inc., Barracuda Networks, Inc., Open Text Corporation (Carbonite), Acronis International GmbH, and Cohesity, Inc., among others.

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