Cloud Backup and Recovery Software Market Size Worth $12.92 billion By 2030: IndustryARC

Global Cloud Backup and Recovery Software Market size is predicted to reach $12.92 billion by 2030, growing at a CAGR of 20.1 % during the forecast period 2023-2030 according to the latest market research report published by IndustryARC. Emerging trends in machine virtualization technology and Increasing adoption of cloud computing across businesses propel the market growth, finds IndustryARC in its recent report, titled “Cloud Backup and Recovery Software Market – By Component (Solution, Services (Training & Consulting, Support & Maintenance, System Integration)), By Service Provider (Cloud Service Providers, Managed Service Providers, Telecom & Communication Service Providers, Others), By Deployment Model (Public Cloud, Private Cloud, Hybrid Cloud), By Organization Size (Small & Medium-Sized Enterprises, Large Enterprises), By End User (Consumer Goods & Retail, Education, Government & Public Sector, Healthcare & Life Sciences, Manufacturing, Media & Entertainment, Telecommunication & Ites and Others.), By Geography – Global Opportunity Analysis & Industry Forecast, 2023-2030”

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Asia-Pacific to Register Highest Growth:

The Cloud Backup and Recovery Software market is experiencing significant growth, with Asia Pacific emerging as a key region driving this expansion. The region’s robust investments in cloud computing technologies and rapid technological advancements are propelling the adoption of cloud-based backup and recovery solutions. Countries like China, Japan, and South Korea are leading this trend, each contributing to the market’s growth through their substantial investments in digital infrastructure and innovative technologies. China’s push to become a global tech leader, Japan’s focus on high-performance computing, and South Korea’s advancements in IT infrastructure collectively boost the demand for sophisticated cloud solutions. Additionally, the broader Asia Pacific region benefits from increasing internet penetration, rising data consumption, and a growing number of enterprises embracing digital transformation. These factors collectively enhance the need for efficient, scalable cloud backup and recovery solutions, making Asia Pacific a pivotal market in the global cloud backup landscape.

Cloud Backup and Recovery Software Market 2023-2030: Scope of the Report

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Cloud Backup and Recovery Software Market Report – Key Takeaways:

• The manufacturing and telecom segment held the largest share in the Cloud Backup and Recovery Software market

The manufacturing and telecom sectors are anticipated to drive rapid growth in the Cloud Backup and Recovery Software market, with an expected CAGR of 22.45% from 2024 to 2030. The increasing adoption of IoT-based equipment in industrial applications is significantly boosting data consumption within manufacturing industries. The Industrial IoT market is projected to reach $100 billion by 2030, growing at a CAGR of 18.56% over the same period. Consequently, many data centers are being developed to support industrial data management. As the industrial manufacturing sector faces challenges in reducing operational costs, cloud-based backup solutions are emerging as the most cost-effective option for data management applications. The telecom sector is also expected to offer substantial growth opportunities for the cloud backup market due to the global rollout of 5G technology. With 5G services expected to be widely commercialized post-2023, it is estimated that 50%-55% of 5G-driven investments will be allocated to data centers by 2024. The deployment of 5G technology is expected to generate a massive increase in data consumption, positively impacting the Cloud Backup and Recovery Software market.

• Hybrid cloud technology segment held the largest share in the Cloud Backup and Recovery Software market

Hybrid cloud technology is poised to experience the highest CAGR of approximately 22.87% from 2024 to 2030. Its popularity is growing due to the advantages of creating a more diverse cloud environment. Hybrid cloud solutions combine the benefits of both private and public cloud resources. As cross-border transactions increase, businesses are increasingly seeking varied cloud environments. Hybrid cloud technology enables companies to manage public cloud services for scalable, affordable, and reliable data storage, while maintaining a smaller private cloud for critical and sensitive information.

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Key Opportunity Analysis:

Rapid Adoption of IoT and Industrial Data Management

The surge in IoT adoption across various industrial sectors presents a significant opportunity for the Cloud Backup and Recovery Software market. As industries increasingly rely on IoT devices to optimize operations, monitor processes, and gather data, the volume of data generated has skyrocketed. This exponential growth in data requires robust backup and recovery solutions to ensure data integrity, accessibility, and security. Cloud-based solutions offer a scalable and cost-effective approach to managing this vast amount of data. By leveraging cloud backup, industries can streamline their data management processes, reduce operational costs, and improve efficiency, thereby driving the demand for advanced cloud backup and recovery software.

Expansion of 5G Networks and Data Center Investments

The global rollout of 5G technology is set to revolutionize data consumption patterns, providing a massive opportunity for the Cloud Backup and Recovery Software market. As 5G networks become widely commercialized, they will enable faster data transmission, lower latency, and the ability to connect a vast number of devices simultaneously. This will lead to a significant increase in data generated by telecom operators and businesses alike. To support this data surge, substantial investments in data centers are expected, with a considerable portion directed toward cloud-based solutions. Cloud backup and recovery software will be essential in managing the data generated by 5G networks, ensuring data security, and providing seamless recovery options.

Integration with Emerging Technologies like AI and Machine Learning

The integration of emerging technologies, such as artificial intelligence (AI) and machine learning (ML), into cloud backup and recovery solutions represents a transformative opportunity for the market. AI and ML can enhance the capabilities of backup and recovery software by enabling predictive analytics, automated data classification, and intelligent threat detection. For example, AI-powered backup solutions can predict potential system failures or data loss events, allowing businesses to take proactive measures to prevent downtime. Additionally, AI-driven analytics can optimize storage utilization and reduce costs by identifying redundant or obsolete data. As businesses increasingly seek smarter, more efficient data management solutions, the incorporation of AI and ML into cloud backup and recovery software will drive innovation and growth in the market.

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The report also covers the following areas:

• Cloud Backup and Recovery Software Market Size and Forecast
• Cloud Backup and Recovery Software Market Trends
• Cloud Backup and Recovery Software Market Analysis by Product Type

Cloud Backup and Recovery Software Market 2023-2030: Key Highlights

• CAGR of the market during the forecast period 2023-2030
• Value Chain Analysis of key stakeholders
• Detailed analysis of market drivers and opportunities during the forecast period
• Cloud Backup and Recovery Software Market size estimation and forecast
• Analysis and predictions on end users’ behavior and upcoming trends
• Competitive landscape and Vendor market analysis including offerings, developments, and financials
• Comprehensive analysis of challenges and constraints in the Cloud Backup and Recovery Software Market

Covid and Ukrainian Crisis Impact:

• The COVID-19 pandemic significantly impacted the Cloud Backup and Recovery Software market by accelerating digital transformation and increasing the demand for remote work solutions. As businesses rapidly adapted to remote work environments, the need for robust cloud-based backup solutions surged to ensure data protection and business continuity. The rise in cybersecurity threats during the pandemic further emphasized the importance of secure backup solutions, driving investments in cloud technologies. Additionally, the economic uncertainties led many organizations to seek cost-effective and flexible cloud solutions, boosting the market for cloud-based backup and recovery software.
• The ongoing Ukrainian crisis has also influenced the Cloud Backup and Recovery Software market by highlighting concerns around data sovereignty and compliance. Geopolitical instability has led companies to focus on where their data is stored and managed, increasing demand for cloud solutions that offer strong data sovereignty features. Supply chain disruptions caused by the conflict have prompted organizations to shift towards cloud-based solutions, which are less reliant on physical infrastructure. Moreover, the crisis has underscored the need for effective disaster recovery planning, driving further adoption of cloud backup solutions as businesses seek to protect their data from potential disruptions.

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List of Key Market Players in the Cloud Backup and Recovery Software Market:

The Global Cloud Backup and Recovery Software Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:

• Acronis International GmbH
• Barracuda Networks, Inc.
• Carbonite, Inc.
• Google Inc.
• Druva Software
• Oracle Corporation
• International Business Machines Corporation
• Iron Mountain Incorporated
• Microsoft Corporation
• Veeam Software

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Backup and Disaster Recovery Market size is analyzed to grow at a CAGR of 10.2% during the forecast 2024-2030 to reach $22 billion by 2030.

Cloud Backup Market size is expected to reach $12.92 billion by 2030, at a CAGR of 20.1% during 2024-2030.

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