Global Cloud Backup Market to Reach US$ 19.6 Billion by 2032, Stimulated by Increasing Volume of Data Generation

August 21, 2023 | Technology & Media

According to the latest report by IMARC Group, titled “Cloud Backup Market Report by Component (Solutions, Services), Service Provider (Cloud Service Provider, Telecom and Communication Service Provider, Managed Service Provider, and Others), Organization Size (Large Enterprises, Small and Medium Enterprises), Deployment Mode (Public Cloud, Private Cloud, Hybrid Cloud), Vertical (BFSI, Consumer Goods and Retail, Education, Government and Public Sector, Healthcare and Life Sciences, Manufacturing, Media and Entertainment, Telecommunication and ITES, and Others), and Region 2024-2032,” the global cloud backup market size reached US$ 4.4 Billion in 2023. Cloud backup is a data storage and protection solution that enables users to store copies of their critical information on remote servers via the Internet. It serves as a secure and reliable method to safeguard valuable data, applications, and files from potential loss due to hardware failure, natural disasters, human errors, or cyber threats. Cloud backup works by encrypting the data before transmitting it to offsite data centers, ensuring the privacy and integrity of the information. This technology offers various advantages, such as automated backups, scalable storage options, and easy accessibility from any location with an internet connection. Users can schedule regular backups, ensuring that their data remains up-to-date and readily available in case of emergencies.

Global Cloud Backup Market Trends:

The exponential rise in data generation by businesses is driving the global market. Cloud Backup offers a scalable and flexible alternative, accommodating the ever-increasing storage demands. Moreover, the growing awareness of data security and the rising number of cyber threats have heightened the demand for reliable backup solutions as cloud backup provides an extra layer of protection against such threats, as the data is stored offsite, away from the primary network. Additionally, the trend of remote work and distributed teams has also played a role in augmenting the cloud backup market as employees increasingly access and work on data from different locations and devices, the need for seamless and centralized data backup and recovery becomes important. Furthermore, continual advancements in cloud technology, including faster internet speeds, improved data center infrastructure, and enhanced security measures, have contributed to the market. Looking forward, the market value is projected to reach US$ 19.6 Billion by 2032, expanding at a CAGR of 17.5% during 2024-2032.

Market Summary:

Based on the component, the market has been segmented into solutions and services.
On the basis of the service provider, the market has been divided into cloud, telecom and communication, and managed, and other service providers.
Based on the organization size, the market has been bifurcated into large, and small and medium enterprises (SMEs).
On the basis of the deployment mode, the market has been divided into public, private, and hybrid cloud.
Based on the vertical, the market has been segmented into BFSI, consumer goods and retail, education, government and public sector, healthcare and life sciences, manufacturing, media and entertainment, telecommunication and ITES, and others.
Region-wise, the market has been segmented into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
The competitive landscape of the market has also been examined, with some of the key players being Acronis International GmbH (Acronis AG), Amazon Web Services Inc. (Amazon.com Inc.), Asigra Inc., Barracuda Networks Inc. (Thoma Bravo LP), Carbonite Inc. (OpenText Corporation), Code42 Software Inc., Datto Inc., Dropbox Inc., International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Veeam Software GmbH and Vmware Inc. (Dell Technologies).

Report Coverage:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Component, Service Provider, Organization Size, Deployment Mode, Vertical, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Acronis International GmbH (Acronis AG), Amazon Web Services Inc. (Amazon.com Inc.), Asigra Inc., Barracuda Networks Inc. (Thoma Bravo LP), Carbonite Inc. (OpenText Corporation), Code42 Software Inc., Datto Inc., Dropbox Inc., International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Veeam Software GmbH and Vmware Inc. (Dell Technologies)
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group
134 N 4th St.
Brooklyn, NY 11249, USA
Email: Sales@imarcgroup.com
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

Speak to our experienced analysts for insights on the current market scenarios.
Include additional segments and countries to customize the report as per your requirement.
Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
For further assistance, please connect with our analysts.

Global Cloud Backup Market to Reach US$ 19.6 Billion by 2032, Stimulated by Increasing Volume of Data Generation

Purchase options

Single User License ~~$3899~~ $2999
Five User License ~~$4899~~ $3999
Corporate User License ~~$5899~~ $4999

Inquire Before Buying

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Speak to an Analyst

Request Brochure

Get in Touch With Us

UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.