Industry Background:
Online backup services refer to an offsite data storage process in which data is regularly backed up over a network on a remote server. This server is hosted by service providers. Market players are focusing on technological advancement in online backup services. For instance, Amazon Web Services, Inc. (AWS) provider of on-demand cloud computing platform launched AWS Backup for centrally managing and automating backups of overall AWS services. Further, the growing adoption of cloud services for business process automation and increasing demand from small and medium enterprises (SMEs) expected to drive the demand for online backup services over the forecasted period.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Acronis International GmbH (Switzerland), Asigra Inc. (Canada), Barracuda Networks, Inc. (United States), Carbonite, Inc. (United States), Code42 Software, Inc. (United States), AWS (United States), International Business Machines Corporation (United States), Iron Mountain Incorporated (United States), Microsoft Corporation (United States) and Oracle Corporation (United States) |
This growth is primarily driven by Rising Adoption of Online Backup Services Owing to Increasing Data Volumes and Growing Demand for SaaS is Driving the Demand of Online Backup Services.
Globally, a noticeable market trend is evident Growing Adoption of Cloud Services for Business Process Automation
Major Players, such as Acronis International GmbH (Switzerland), Asigra Inc. (Canada), Barracuda Networks, Inc. (United States), Carbonite, Inc. (United States), Code42 Software, Inc. (United States), AWS (United States), International Business Machines Corporation (United States), Iron Mountain Incorporated (United States), Microsoft Corporation (United States) and Oracle Corporation (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Online Backup Services is a fragmented market due to the presence of several players. The players are focusing on strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Key Developments in the Market:
10th January 2019, AWS acquired CloudEndure which provides software solutions for backup, live migration, and disaster recovery.
3rd April 2019, Veeam Software provider of backup solutions launched the new Veeam backup for Microsoft Office 365 v3 which provide faster backup, enhanced visibility, improved security, and analytics.
Influencing Trend:
Growing Adoption of Cloud Services for Business Process Automation and Technological Advancement in the Cloud Services
Market Growth Drivers:
Rising Adoption of Online Backup Services Owing to Increasing Data Volumes and Growing Demand for SaaS is Driving the Demand of Online Backup Services
Challenges:
Lack of Awareness in the Emerging Economies
Restraints:
Growing Concerns Regarding Data Privacy and Security and Lack of Skilled Professional to Adopt New Technology
Opportunities:
Growing Demand from SMEs and Increasing Adoption of Hybrid Cloud Deployment Model
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Online Backup Services Market
- Analysis about New Entrants in Online Backup Services Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Online Backup Services Study Sheds Light on
The Online Backup Services Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Online Backup Services industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Online Backup Services industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.