Cloud Backup and Recovery Market to grow by USD 20,727.97 million growth from 2022 to 2027 | Reduction in IT expenditure drives the market – Technavio

NEW YORK, July 7, 2023 /PRNewswire/ — The cloud backup and recovery market is set to grow by USD 20,727.97 million from 2022 to 2027, progressing at a CAGR of 18.43% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The reduction in IT expenditure is a major factor driving market growth. IT firms have doubled their expenditure on IT infrastructure procurement and maintenance to fulfill the growing demand and remain competitive in recent years. Most organizations can expect a significant reduction in their functional cost as considerable capital is required to maintain IT infrastructure with cloud backup and recovery. However, the implementation of cloud backup and recovery solutions often enables organizations to save annual operating expenditures and to store data internally. Gathering information remotely does not require internal power, which enables users to save expenses. Expanded adoption of these solutions allows organizations to lower maintenance costs, system upgrades, software patching, and other operation-related functions of an IT department. Such factors will boost the growth of the global cloud backup and recovery market during the forecast period. Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and a forecast period (2023-2027). Download Sample Report in minutes!

The cloud backup and recovery market covers the following areas:

• Cloud Backup And Recovery Market Sizing
• Cloud Backup And Recovery Market Forecast
• Cloud Backup And Recovery Market Analysis

The report on the cloud backup and recovery market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis. 

Cloud Backup And Recovery Market 2023-2027 – Market Dynamics

Major Trends

The expansion of cloud computing models is an emerging trend supporting market growth. Cloud computing is evolving and is expected to develop rapidly in the upcoming years. Companies are turning to hybrid and serverless cloud architectures to help various applications and reduce operational costs. Moreover, various large cloud services providers, such as AWS, Google Cloud, and Microsoft Azure, are promoting serverless computing models.  In order to facilitate the development of enterprise applications for cloud computing, several open-source frameworks have been developed. To develop and deploy applications on their own or at a rapid rate, developers can use specially designed application containers. This has led to the growing popularity of application containers in the business environment. Therefore, cloud services are anticipated to increasingly use tools such as Docker Enterprise, Kubernetes, and Mesosphere for managed containers. The development of cloud computing models is one of the emerging trends which is anticipated to fuel the growth of the global cloud backup and recovery market during the forecast period.

Significant Challenge 

The major challenge impeding market growth is the latency in the cloud network.  Latency in data transmission during the retrieval of information from the public cloud infrastructure is one of the major challenges faced by cloud-based networks. Latency in a cloud-based network is not easily predictable and highly complex to measure. Tools for measuring latency, such as Ping and Traceroute, are usually unused. However, there are numerous factors for latency, such as distributed computing, virtualization, and prioritizing traffic. It becomes less predictable when the cloud environment is larger. An expansion in the workload directs to high variability in service delivery. In the case of virtual machines (VMs), separate networks can lead to packet delays. On the other hand, if the wide area network (WAN) on the customer network is busy, it might lead to a significant effect on latency. Data exchanges between cloud services can lead to higher latency, and this delay in data transfer can result in an expanded cost for users of numerous cloud service providers. Therefore, latency in the cloud network can impede the adoption of cloud backup and recovery solutions during the forecast period.

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• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial – Buy the report!

Cloud Backup And Recovery Market 2023-2027: Market Segmentation

The cloud backup and recovery market segmentation by sector (ICT, manufacturing, BFSI, healthcare, and others), end-user (large enterprises and SMEs), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

• The market share growth by the ICT segment will be significant during the forecast period. With its overall size and growth, the ICT segment dominates the global cloud backup and recovery market. The ICT sector leads the market primarily due to the rising demand for the digitalization of core business processes. It was common for an enterprise to install servers and storage devices separately for each department before the cloud boom. But, after the integration with cloud-based infrastructure, resource utilization has improved and this scenario is leading to an expansion in the use of servers and a reduction in the total number of servers in use. As a result, a significant change in the server business model will be a major factor contributing to the growth of the segment during the forecast period.

This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters– View Sample Report

Companies Mentioned

• Acronis International GmbH
• Actifio Inc.
• Arcserve (USA), LLC
• Asigra Inc.
• Carbonite Inc.
• Cohesity Inc.
• Commvault Systems Inc.
• Datto Holdings Corp.
• Google LLC
• Hewlett Packard Enterprise Co.
• International Business Machines Corp.
• Microsoft Corp.
• N able Solutions ULC and N able Technologies Ltd.
• NetApp Inc.
• Oracle Corp.
• Quest Technology Management
• Rackspace Technology Inc.
• Redstor
• Unitrends Inc.
• Veeam Software Group GmbH
• Veritas Technologies LLC

Vendor Offerings

• Acronis International GmbH – The company offers cloud backup and recovery through its Acronis cyber protection.
• Actifio Inc. – The company offers cloud backup and recovery, such as Actifio GO.
• Arcserve (USA), LLC – The company offers cloud backup and recovery through its Arcserve cloud service (DRaas).

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Key Topics Covered:

1 Executive Summary

• 1.1 Market Overview
  • Exhibit 01: Executive Summary – Chart on Market Overview
  • Exhibit 02: Executive Summary – Data Table on Market Overview
  • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
  • Exhibit 04: Executive Summary – Chart on Market by Geography
  • Exhibit 05: Executive Summary – Chart on Market Segmentation by Sector
  • Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
  • Exhibit 07: Executive Summary – Chart on Incremental Growth
  • Exhibit 08: Executive Summary – Data Table on Incremental Growth
  • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
  • Exhibit 10: Parent market
  • Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
  • Exhibit 12: Offerings of vendors included in the market definition
• 3.2 Market segment analysis
  • Exhibit 13: Market segments
• 3.3 Market size 2022 
• 3.4 Market outlook: Forecast for 2022-2027
  • Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
  • Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
  • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
  • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global cloud backup and recovery market 2017 – 2021
  • Exhibit 18: Historic Market Size – Data Table on Global cloud backup and recovery market 2017 – 2021 ($ million)
• 4.2 Sector Segment Analysis 2017 – 2021
  • Exhibit 19: Historic Market Size – Sector Segment 2017 – 2021 ($ million)
• 4.3 End-user Segment Analysis 2017 – 2021
  • Exhibit 20: Historic Market Size – End-user Segment 2017 – 2021 ($ million)
• 4.4 Geography Segment Analysis 2017 – 2021
  • Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)
• 4.5 Country Segment Analysis 2017 – 2021
  • Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
  • Exhibit 23: Five forces analysis – Comparison between 2022 and 2027
• 5.2 Bargaining power of buyers
  • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
• 5.3 Bargaining power of suppliers
  • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
• 5.4 Threat of new entrants
  • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
• 5.5 Threat of substitutes
  • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
• 5.6 Threat of rivalry
  • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
• 5.7 Market condition
  • Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Sector

• 6.1 Market segments
  • Exhibit 30: Chart on Sector – Market share 2022-2027 (%)
  • Exhibit 31: Data Table on Sector – Market share 2022-2027 (%)
• 6.2 Comparison by Sector
  • Exhibit 32: Chart on Comparison by Sector
  • Exhibit 33: Data Table on Comparison by Sector
• 6.3 ICT – Market size and forecast 2022-2027
  • Exhibit 34: Chart on ICT – Market size and forecast 2022-2027 ($ million)
  • Exhibit 35: Data Table on ICT – Market size and forecast 2022-2027 ($ million)
  • Exhibit 36: Chart on ICT – Year-over-year growth 2022-2027 (%)
  • Exhibit 37: Data Table on ICT – Year-over-year growth 2022-2027 (%)
• 6.4 Manufacturing – Market size and forecast 2022-2027
  • Exhibit 38: Chart on Manufacturing – Market size and forecast 2022-2027 ($ million)
  • Exhibit 39: Data Table on Manufacturing – Market size and forecast 2022-2027 ($ million)
  • Exhibit 40: Chart on Manufacturing – Year-over-year growth 2022-2027 (%)
  • Exhibit 41: Data Table on Manufacturing – Year-over-year growth 2022-2027 (%)
• 6.5 BFSI – Market size and forecast 2022-2027
  • Exhibit 42: Chart on BFSI – Market size and forecast 2022-2027 ($ million)
  • Exhibit 43: Data Table on BFSI – Market size and forecast 2022-2027 ($ million)
  • Exhibit 44: Chart on BFSI – Year-over-year growth 2022-2027 (%)
  • Exhibit 45: Data Table on BFSI – Year-over-year growth 2022-2027 (%)
• 6.6 Healthcare – Market size and forecast 2022-2027
  • Exhibit 46: Chart on Healthcare – Market size and forecast 2022-2027 ($ million)
  • Exhibit 47: Data Table on Healthcare – Market size and forecast 2022-2027 ($ million)
  • Exhibit 48: Chart on Healthcare – Year-over-year growth 2022-2027 (%)
  • Exhibit 49: Data Table on Healthcare – Year-over-year growth 2022-2027 (%)
• 6.7 Others – Market size and forecast 2022-2027
  • Exhibit 50: Chart on Others – Market size and forecast 2022-2027 ($ million)
  • Exhibit 51: Data Table on Others – Market size and forecast 2022-2027 ($ million)
  • Exhibit 52: Chart on Others – Year-over-year growth 2022-2027 (%)
  • Exhibit 53: Data Table on Others – Year-over-year growth 2022-2027 (%)
• 6.8 Market opportunity by Sector
  • Exhibit 54: Market opportunity by Sector ($ million)

7 Market Segmentation by End-user

• 7.1 Market segments
  • Exhibit 55: Chart on End-user – Market share 2022-2027 (%)
  • Exhibit 56: Data Table on End-user – Market share 2022-2027 (%)
• 7.2 Comparison by End-user
  • Exhibit 57: Chart on Comparison by End-user
  • Exhibit 58: Data Table on Comparison by End-user
• 7.3 Large enterprises – Market size and forecast 2022-2027
  • Exhibit 59: Chart on Large enterprises – Market size and forecast 2022-2027 ($ million)
  • Exhibit 60: Data Table on Large enterprises – Market size and forecast 2022-2027 ($ million)
  • Exhibit 61: Chart on Large enterprises – Year-over-year growth 2022-2027 (%)
  • Exhibit 62: Data Table on Large enterprises – Year-over-year growth 2022-2027 (%)
• 7.4 SMEs – Market size and forecast 2022-2027
  • Exhibit 63: Chart on SMEs – Market size and forecast 2022-2027 ($ million)
  • Exhibit 64: Data Table on SMEs – Market size and forecast 2022-2027 ($ million)
  • Exhibit 65: Chart on SMEs – Year-over-year growth 2022-2027 (%)
  • Exhibit 66: Data Table on SMEs – Year-over-year growth 2022-2027 (%)
• 7.5 Market opportunity by End-user
  • Exhibit 67: Market opportunity by End-user ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview
  • Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation
  • Exhibit 69: Chart on Market share by geography 2022-2027 (%)
  • Exhibit 70: Data Table on Market share by geography 2022-2027 (%)
• 9.2 Geographic comparison
  • Exhibit 71: Chart on Geographic comparison
  • Exhibit 72: Data Table on Geographic comparison
• 9.3 North America – Market size and forecast 2022-2027
  • Exhibit 73: Chart on North America – Market size and forecast 2022-2027 ($ million)
  • Exhibit 74: Data Table on North America – Market size and forecast 2022-2027 ($ million)
  • Exhibit 75: Chart on North America – Year-over-year growth 2022-2027 (%)
  • Exhibit 76: Data Table on North America – Year-over-year growth 2022-2027 (%)
• 9.4 Europe – Market size and forecast 2022-2027
  • Exhibit 77: Chart on Europe – Market size and forecast 2022-2027 ($ million)
  • Exhibit 78: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
  • Exhibit 79: Chart on Europe – Year-over-year growth 2022-2027 (%)
  • Exhibit 80: Data Table on Europe – Year-over-year growth 2022-2027 (%)
• 9.5 APAC – Market size and forecast 2022-2027
  • Exhibit 81: Chart on APAC – Market size and forecast 2022-2027 ($ million)
  • Exhibit 82: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
  • Exhibit 83: Chart on APAC – Year-over-year growth 2022-2027 (%)
  • Exhibit 84: Data Table on APAC – Year-over-year growth 2022-2027 (%)
• 9.6 South America – Market size and forecast 2022-2027
  • Exhibit 85: Chart on South America – Market size and forecast 2022-2027 ($ million)
  • Exhibit 86: Data Table on South America – Market size and forecast 2022-2027 ($ million)
  • Exhibit 87: Chart on South America – Year-over-year growth 2022-2027 (%)
  • Exhibit 88: Data Table on South America – Year-over-year growth 2022-2027 (%)
• 9.7 Middle East and Africa – Market size and forecast 2022-2027
  • Exhibit 89: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
  • Exhibit 90: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
  • Exhibit 91: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
  • Exhibit 92: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• 9.8 US – Market size and forecast 2022-2027
  • Exhibit 93: Chart on US – Market size and forecast 2022-2027 ($ million)
  • Exhibit 94: Data Table on US – Market size and forecast 2022-2027 ($ million)
  • Exhibit 95: Chart on US – Year-over-year growth 2022-2027 (%)
  • Exhibit 96: Data Table on US – Year-over-year growth 2022-2027 (%)
• 9.9 Canada – Market size and forecast 2022-2027
  • Exhibit 97: Chart on Canada – Market size and forecast 2022-2027 ($ million)
  • Exhibit 98: Data Table on Canada – Market size and forecast 2022-2027 ($ million)
  • Exhibit 99: Chart on Canada – Year-over-year growth 2022-2027 (%)
  • Exhibit 100: Data Table on Canada – Year-over-year growth 2022-2027 (%)
• 9.10 UK – Market size and forecast 2022-2027
  • Exhibit 101: Chart on UK – Market size and forecast 2022-2027 ($ million)
  • Exhibit 102: Data Table on UK – Market size and forecast 2022-2027 ($ million)
  • Exhibit 103: Chart on UK – Year-over-year growth 2022-2027 (%)
  • Exhibit 104: Data Table on UK – Year-over-year growth 2022-2027 (%)
• 9.11 China – Market size and forecast 2022-2027
  • Exhibit 105: Chart on China – Market size and forecast 2022-2027 ($ million)
  • Exhibit 106: Data Table on China – Market size and forecast 2022-2027 ($ million)
  • Exhibit 107: Chart on China – Year-over-year growth 2022-2027 (%)
  • Exhibit 108: Data Table on China – Year-over-year growth 2022-2027 (%)
• 9.12 Germany – Market size and forecast 2022-2027
  • Exhibit 109: Chart on Germany – Market size and forecast 2022-2027 ($ million)
  • Exhibit 110: Data Table on Germany – Market size and forecast 2022-2027 ($ million)
  • Exhibit 111: Chart on Germany – Year-over-year growth 2022-2027 (%)
  • Exhibit 112: Data Table on Germany – Year-over-year growth 2022-2027 (%)
• 9.13 Market opportunity by geography
  • Exhibit 113: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 
• 10.2 Market challenges 
• 10.3 Impact of drivers and challenges
  • Exhibit 114: Impact of drivers and challenges in 2022 and 2027
• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 
• 11.2 Vendor landscape
  • Exhibit 115: Overview on Criticality of inputs and Factors of differentiation
• 11.3 Landscape disruption
  • Exhibit 116: Overview on factors of disruption
• 11.4 Industry risks
  • Exhibit 117: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
  • Exhibit 118: Vendors covered
• 12.2 Market positioning of vendors
  • Exhibit 119: Matrix on vendor position and classification
• 12.3 Acronis International GmbH
  • Exhibit 120: Acronis International GmbH – Overview
  • Exhibit 121: Acronis International GmbH – Product / Service
  • Exhibit 122: Acronis International GmbH – Key offerings
• 12.4 Actifio Inc.
  • Exhibit 123: Actifio Inc. – Overview
  • Exhibit 124: Actifio Inc. – Product / Service
  • Exhibit 125: Actifio Inc. – Key offerings
• 12.5 Arcserve (USA), LLC
  • Exhibit 126: Arcserve (USA), LLC – Overview
  • Exhibit 127: Arcserve (USA), LLC – Product / Service
  • Exhibit 128: Arcserve (USA), LLC – Key offerings
• 12.6 Asigra Inc.
  • Exhibit 129: Asigra Inc. – Overview
  • Exhibit 130: Asigra Inc. – Product / Service
  • Exhibit 131: Asigra Inc. – Key news
  • Exhibit 132: Asigra Inc. – Key offerings
• 12.7 Carbonite Inc.
  • Exhibit 133: Carbonite Inc. – Overview
  • Exhibit 134: Carbonite Inc. – Product / Service
  • Exhibit 135: Carbonite Inc. – Key offerings
• 12.8 Commvault Systems Inc.
  • Exhibit 136: Commvault Systems Inc. – Overview
  • Exhibit 137: Commvault Systems Inc. – Product / Service
  • Exhibit 138: Commvault Systems Inc. – Key offerings
• 12.9 Datto Holdings Corp.
  • Exhibit 139: Datto Holdings Corp. – Overview
  • Exhibit 140: Datto Holdings Corp. – Product / Service
  • Exhibit 141: Datto Holdings Corp. – Key offerings
• 12.10 Hewlett Packard Enterprise Co.
  • Exhibit 142: Hewlett Packard Enterprise Co. – Overview
  • Exhibit 143: Hewlett Packard Enterprise Co. – Business segments
  • Exhibit 144: Hewlett Packard Enterprise Co. – Key news
  • Exhibit 145: Hewlett Packard Enterprise Co. – Key offerings
  • Exhibit 146: Hewlett Packard Enterprise Co. – Segment focus
• 12.11 International Business Machines Corp.
  • Exhibit 147: International Business Machines Corp. – Overview
  • Exhibit 148: International Business Machines Corp. – Business segments
  • Exhibit 149: International Business Machines Corp. – Key news
  • Exhibit 150: International Business Machines Corp. – Key offerings
  • Exhibit 151: International Business Machines Corp. – Segment focus
• 12.12 Microsoft Corp.
  • Exhibit 152: Microsoft Corp. – Overview
  • Exhibit 153: Microsoft Corp. – Business segments
  • Exhibit 154: Microsoft Corp. – Key news
  • Exhibit 155: Microsoft Corp. – Key offerings
  • Exhibit 156: Microsoft Corp. – Segment focus
• 12.13 N able Solutions ULC and N able Technologies Ltd.
  • Exhibit 157: N able Solutions ULC and N able Technologies Ltd. – Overview
  • Exhibit 158: N able Solutions ULC and N able Technologies Ltd. – Product / Service
  • Exhibit 159: N able Solutions ULC and N able Technologies Ltd. – Key offerings
• 12.14 Rackspace Technology Inc.
  • Exhibit 160: Rackspace Technology Inc. – Overview
  • Exhibit 161: Rackspace Technology Inc. – Product / Service
  • Exhibit 162: Rackspace Technology Inc. – Key offerings
• 12.15 Redstor
  • Exhibit 163: Redstor – Overview
  • Exhibit 164: Redstor – Product / Service
  • Exhibit 165: Redstor – Key offerings
• 12.16 Veeam Software Group GmbH
  • Exhibit 166: Veeam Software Group GmbH – Overview
  • Exhibit 167: Veeam Software Group GmbH – Product / Service
  • Exhibit 168: Veeam Software Group GmbH – Key offerings
• 12.17 Veritas Technologies LLC
  • Exhibit 169: Veritas Technologies LLC – Overview
  • Exhibit 170: Veritas Technologies LLC – Product / Service
  • Exhibit 171: Veritas Technologies LLC – Key news
  • Exhibit 172: Veritas Technologies LLC – Key offerings

13 Appendix

• 13.1 Scope of the report 
• 13.2 Inclusions and exclusions checklist
  • Exhibit 173: Inclusions checklist
  • Exhibit 174: Exclusions checklist
• 13.3 Currency conversion rates for US$
  • Exhibit 175: Currency conversion rates for US$
• 13.4 Research methodology
  • Exhibit 176: Research methodology
  • Exhibit 177: Validation techniques employed for market sizing
  • Exhibit 178: Information sources
• 13.5 List of abbreviations
  • Exhibit 179: List of abbreviations

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