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(Wireless-NewsWire.Com, December 14, 2017 ) According to Publisher, the Global Cloud Backup market is expected to grow from $1.20 billion in 2016 to reach $5.5 billion by 2023 with a CAGR of 24.2%. Large amount of Generated data, increasing Adoption of Saas, huge capability & efficiency and low cast than on-premises backup are the crucial factors that fuel the growth of the market. On the contrary, Compatibility concerns for certain applications with the cloud environment and raising complexities of bandwidth limitations are the key factors to hamper the growth of the market in the forthcoming years.
Among the verticals, it is expected that telecommunication and IT sector is showing a rapid growth of usage of the Cloud Backup. By region, North America is current leader in the world and holds a highest market share. Europe is expected to grab a major share during the forecast period because there has been a major focus onto the online secure data storage system. Adding to this, developing economies in Asia Pacific region like China, Japan, India have a significant growth in the market. Cloud emergence and mandatory government regulations are simultaneously helping boost the growth of the Cloud Backup Market in this region.
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Some of the key players in Global Cloud Backup Market include VMware Inc, Veeam Software, Microsoft Corporation, Iron Mountain Incorporated, International Business Machines Corporation, IBM Corporation, Google Inc, EMC Corporation, Efolder, Inc., Druva Software, Dropbox, Inc., Datto, Inc., Code42 Software, Inc., Carbonite, Inc., Barracuda Networks, Inc., Asigra Inc., Amazon Web Services, Acronis International GmbH.
Organization Sizes Covered:
-Large Enterprises
-Small and Medium-Sized Enterprises
Service Providers Covered:
-Telecom and Communication Service Providers
-Managed Service Providers
-Cloud Service Providers
-Other Service Providers
Components Covered:
-Services
-Support and Maintenance
-Training and Consulting
-System Integration
-Solutions
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Verticals Covered:
-Telecommunication and Ites
-Media and Entertainment
-Manufacturing
-Healthcare and Life Sciences
-Government and Public Sector
-Education
-Consumer Goods and Retail
-Banking, Financial Services, and Insurance
-Other Verticals
Deployment Models Covered:
-Hybrid Cloud
-Public Cloud
-Private Cloud
Regions Covered:
-North America
-US
-Canada
-Mexico
-Europe
-Germany
-UK
-Italy
-France
-Spain
-Rest of Europe
-Asia Pacific
-Japan
-China
-India
-Australia
-New Zealand
-Rest of Asia Pacific
-South America
-Argentina
-Brazil
-Chile
-Rest of South America
-Middle East & Africa
-Saudi Arabia
-UAE
-Qatar
-South Africa
-Rest of Middle East & Africa
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Rajat Sahni
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Source: EmailWire.Com 
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