Dublin, April 05, 2023 (GLOBE NEWSWIRE) -- The "Cloud Backup - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Cloud Backup Market to Reach $13 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Cloud Backup estimated at US$2.9 Billion in the year 2022, is projected to reach a revised size of US$13 Billion by 2030, growing at a CAGR of 20.6% over the analysis period 2022-2030.
Solutions, one of the segments analyzed in the report, is projected to record 16.3% CAGR and reach US$7 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Services segment is readjusted to a revised 28.5% CAGR for the next 8-year period.
The U.S. Market is Estimated at $851.4 Million, While China is Forecast to Grow at 19.5% CAGR
The Cloud Backup market in the U.S. is estimated at US$851.4 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$2.2 Billion by the year 2030 trailing a CAGR of 19.5% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 18.6% and 17.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 15% CAGR.
Looking Ahead to 2023
Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.
Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 227 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $2.9 Billion |
| Forecasted Market Value (USD) by 2030 | $13 Billion |
| Compound Annual Growth Rate | 20.6% |
| Regions Covered | Global |
Key Topics Covered:
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Product Overview
- Cloud Backup Market: A Prelude
- Solutions Segment Holds Largest Market Share
- Cloud Backup - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS(Total 107 Featured)
- Acronis International GmbH
- Asigra, Inc.
- Barracuda Networks, Inc.
- Carbonite, Inc.
- Code42 Software, Inc.
- Datto, Inc.
- Druva Inc.
- eFolder, Inc.
- IBM Corporation
- Iron Mountain Inc.
- Microsoft Corporation
- Veeam Software AG
3. MARKET TRENDS & DRIVERS
- Cloud Backup Application Trends in Small and medium-sized businesses (SMBs)
- Top Threats in Cloud Backup Data Security Market
- Challenges Confronting the Cloud Backup Market
- Top Seven Cloud Backup Services
- Adoption Trends of Cloud Backup and Recovery Market
- Cloud Backup Demand on Rise
- Rise in High Volume Data Generation and Concern about the Data Security Fuels the Demand for Cloud Backup
- Innovations
- Rise in Mobile Devices Adoption Drives the Demand for Cloud Backup Market
- Regulatory Guidelines
4. GLOBAL MARKET PERSPECTIVE
For more information about this report visit https://www.researchandmarkets.com/r/ts5nkp
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