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The global Cloud Backup & Recovery Software Market Growth Accelerated by Increasing Demand for Cloud Based Data Backup Solutions

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Niranjan Mardakar
The global Cloud Backup & Recovery Software Market Growth Accelerated by Increasing Demand for Cloud Based Data Backup Solutions

The global Cloud Backup & Recovery Software Market provides a cloud-based platform for data backup and restoration for individuals and enterprises. It allows users to back up their data stored on physical systems, virtual machines, and infrastructure-as-a-service environments to a remote location. Key features include scheduling and automation of backups, restoration of backed up data, high security, and data deduplication for seamless recoverability of lost or corrupted files.

The global Cloud Backup & Recovery Software Market is estimated to be valued at US$ 31650.04 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increasing demand for cloud-based data backup solutions from small and medium enterprises is one of the major trends driving the growth of the Cloud Backup & Recovery Software Market. This can be attributed to benefits offered by cloud backup such as scalability, flexibility, ease of access from remote locations, and pay-per-use pricing models. Cloud backup eliminates the need for expensive on-premises solutions and enables enterprises to achieve backup targets while cutting costs significantly. As the dependency on critical business data grows, cloud backup is emerging as a reliable option for securing large volumes of data in a cost-effective manner. The market players are actively launching cloud backup solutions integrated with artificial intelligence capabilities for advanced functionalities, thus accelerating growth of the market.

Segment Analysis

The global Cloud Backup & Recovery Software market Size is dominated by the data backup and recovery segment. This segment account for over 40% of the total market share owing to high demand for backup and recovery of critical business data and files. Enterprises across industry verticals extensively utilize cloud backup and recovery software to securely store files and data on cloud platforms.

Key Takeaways

The global Cloud Backup & Recovery Software Market is estimated to be valued at US$ 31650.04 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030.

Regional analysis

The North American region is expected to lead the global Cloud Backup & Recovery Software market during the forecast period. High adoption of cloud technologies across various industries and presence of key market players in the region is driving the growth. Asia Pacific market is projected to witness fastest growth owing to increasing IT infrastructure spending and rapid digitalization in countries such as China and India.

Key players

Key players operating in the Cloud Backup & Recovery Software market are GE Healthcare (US), Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands), Block Imaging (US), SOMA TECH INTL. (US), Avante Health Solutions (US), Hilditch Group (UK), Everx Pvt Ltd. (Australia), Integrity Medical Systems, Inc. (US), Radiology Oncology Systems, Inc. (US), Master Medical Equipment (US), US Med-Equip (US), Fair Medical Co. Ltd. (Japan), Future Health Concepts (US), US Medical Systems, LLC. (US), Nationwide Imaging Services (US), Pacific Healthcare Imaging, LLC (US), Venture Medical ReQuip, Inc. (US), Desert Tech Medical Systems (US), Hi Tech International Group, Inc. (US), CURA Healthcare (India), JAPAN CENTRAL MEDICAL, INC. (Japan), HOYU AND CO., LTD. (Japan), Sanrad Medical Systems (India), BOND JAPAN CO., LTD. (Japan), FlexrayMedical ApS (Denmark), Amber Diagnostics (US), Rhombus Medical Equipment., LLC (UAE), Blue Start Limited (India), and Cielo Co., Ltd (Japan).


Get More Insights On This Topic: https://www.newsstatix.com/cloud-backup-recovery-software-market-size-share-analysis-2023-2030/

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