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Global cloud backup market forecast to 2022 explored in latest research

IT Market Research

This market research report includes a detailed segmentation of the global backup-as-a-service market by product category (online backup and cloud storage). It includes the descriptive analysis of industry overview and types of deployment of backup-as-a-service. It outlines the market shares and growth landscape for key regions such as APAC, EMEA, North America, and the ROW. The key vendors analyzed in this report are IBM, Symantec, CommonVault, and Dell.

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Market outlook of the backup as a service market

 research analyst predicts the global backup as a service market to grow at a CAGR of around 27% during the forecast period. The high cost of deploying disaster recovery on premises is one of the primary growth drivers for this market.

Infrastructure related to disaster recovery needs considerable upfront investment and continuous investment in hardware and networks. Many SMEs fail to implement disaster recovery solutions in their system due to high implementation cost.

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They instead opt for the annual subscription model of backup as a service.

Outsourcing of backup services is a major concern for businesses as it creates a dependency on service provider’s data center performance, which can hamper the business continuity. Compliance issue, improper encryption of data, and wide geographical spread are some of the other issues faced by the enterprise clients.   

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