With the rise in data explosion, a large number of organizations have supported the need for replication of data as backup and frequent data protection. Cloud backup or online backup refers to backing up of data to a remote, cloud based server. Challenges such as server collapse and mismanagement of large company data have forced organizations to look for a substitute for traditional backups, as these are costly to maintain and require continuous monitoring.
A trend which is propelling market growth is the availability of cloud backup for virtual machines. Virtualization is now an integral part of IT infrastructure. Many enterprises have committed to pursue virtualization over the next few years. The technology offers many business benefits, including rapid provisioning and better utilization of system resources. Many organizations are seeking to implement agentless solutions for the backup and recovery. However, technological limitations have compelled enterprises to use separate solutions for backing up physical and virtual machines.
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One of the biggest advantages of using backup as a service is the automatic backup of data that service providers execute on a daily or weekly basis. Some backup-as-a-service providers upload the system files to their servers and make an image of the data to provide information backup. This streamlines the sharing of business documents over a collaborative platform, and so helps companies to boost efficiency and business transparency.
The cloud backup market has been experiencing growth in recent years due to rising adoption of mobile technology, web based applications and cloud computing in commercial and industrial sectors. The other factors driving the growth are data loss issues because most enterprises fear losing data as such losses can create serious impact on businesses, such as profit loss, reduced productivity.
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The Cloud Backup Market has been segmented on the basis of solution, services, deployment, end-user and region. Based on the end-user, the market is segmented into telecommunication, IT, BFSI and government sector. Government sector is showing a positive sign in terms of high usage of cloud backup. Based on the solution type, the market is segmented into infrastructure-as-a-service, software-as-a-services, integration-as-a-services and platform-as-a-service. On the basis of services, the market can be segmented into training and consulting, support and maintenance, cloud integration and migration, managed services.
In terms of application, the market can be segmented into cloud based SOA systems. Moreover, on the basis of geography the global market is classified as North America, Europe, Asia-Pacific, Middle East and Africa. North America region is dominating cloud backup market and is expected to grow with a high rate as well as hold the largest market share. In the Europe region there has been a major focus onto the online secure data storage system.