Cloud backup and recovery market 2023-2027. A descriptive analysis of parent market, five forces model, market dynamics, and segmentation - Technavio

NEW YORK, Dec. 19, 2022 /PRNewswire/ -- According to Technavio, the global cloud backup and recovery market size is estimated to grow by USD 20,727.97 million from 2022 to 2027. The market is estimated to grow at a CAGR of 18.43% during the forecast period. North America will account for 32% of the market's growth during the forecast period. 

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Global cloud backup and recovery market - Five forces
The global cloud backup and recovery market is fragmented, and the five forces analysis covers– 

• Bargaining Power of Buyers 
• The threat of New Entrants
• Threat of Rivalry
• Bargaining Power of Suppliers
• Threat of Substitutes
• Interpretation of porter's five models helps to strategize the business, for entire details – buy the report!

Global cloud backup and recovery market- Parent market analysis
 

Technavio categorizes the global cloud backup and recovery market as a part of the global internet services and infrastructure market within the global IT services market. The global IT services market covers companies offering IT consulting and system integration services, application services, electronic data processing services, business process outsourcing services, infrastructure services, and Internet services. The global Internet services and infrastructure market covers companies providing services and infrastructure for the Internet industry, including data centers and cloud networking and storage infrastructure. It also includes companies providing hosting services. It excludes companies offering software products. The global Internet services and infrastructure market also includes IT security services and cloud computing services.

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Global cloud backup and recovery market – Customer landscape 

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global cloud backup and recovery market - Segmentation assessment

Segment overview
Technavio has segmented the market based on sector (ICT, manufacturing, BFSI, healthcare, and others), and end-user (large enterprises and SMEs).

• The ICT segment will grow at the highest rate during the forecast period. The ICT industry dominates the market due to the increasing demand for the digitalization of essential business processes. Prior to the cloud boom, it was common for an organization to install servers and storage devices for each department independently. However, resource utilization has increased with the integration of cloud-based infrastructure. The key drivers of this expansion are the cost savings associated with cloud services adoption, the increased scalability, the flexibility provided to SMEs for future development, and the increased security.

Geography overview
By geography, the global cloud backup and recovery market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global cloud backup and recovery market.

• North America will account for 32% of the market's growth during the forecast period. Due to its early adoption of cloud-based services, North America held the biggest revenue share of the worldwide cloud backup and recovery market in 2022. Cloud backup services make it possible for start-ups and SMEs in the area to scale resources in accordance with demand. Through virtualization, the cloud model facilitates the sharing of resources such as servers, storage, hardware, operating systems, databases, middleware, and other software. Developers can easily design an application using one-click capability with the help of PaaS solutions and their web browsers. As a result, there is a growing need for cloud services during the forecast period.

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Global cloud backup and recovery market – Market dynamics
Key factor driving market growth

• The reduction in IT expenditure is notably driving market growth.
• To satisfy the rising demand and maintain their competitiveness in the market, IT companies have doubled their spending on IT infrastructure acquisition and maintenance.  Since it costs a lot of money to maintain IT infrastructure, most firms can expect a large decrease in functional costs with cloud backup and recovery.
• Organizations can frequently reduce their annual operating costs by implementing cloud backup and recovery solutions.
• Users can save money by remotely storing information as it doesn't need internal power. By using these solutions more frequently, businesses can cut back on IT department operations costs such as system upgrades, software patching, and maintenance.
• During the forecast period, these factors will fuel the expansion of the worldwide cloud backup and recovery market.

Leading trends influencing the market 

• The expansion of cloud computing models is the key trend in the market.
• Organizations are shifting to serverless and hybrid cloud architectures to handle a variety of apps and reduce operational costs. Serverless computing models are being promoted by several sizable cloud service providers, including AWS, Google Cloud, and Microsoft Azure.
• Developers can use managed application containers to build and deploy apps more quickly and independently. As a result, application containers are becoming more and more common in the corporate environment.
• Hence, one of the emerging trends that are anticipated to fuel the growth of the global cloud backup and recovery market over the course of the forecast period is the expansion of cloud computing models.

Major challenges hindering the market growth

• Latency in the cloud network is the major challenge impeding market growth.
• The latency in data transfer during the retrieval of information from the public cloud infrastructure is one of the biggest problems that cloud-based networks have to deal with. A cloud-based network's latency is less predictable and extremely challenging to assess. Numerous elements, including distributed computing, virtualization, and traffic prioritization, contribute to latency.
• The customer network's wide area network (WAN) may see a considerable increase in latency if it is overloaded. Higher latency may arise from data transfers between cloud services. For users of several cloud service providers, this delay in data transfer may result in higher costs. The adoption of cloud backup and recovery solutions may therefore be hampered during the predicted period by network latency in the cloud.

Driver, Trend & Challenges are the factor of market dynamics which states about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this cloud backup and recovery market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the cloud backup and recovery market between 2023 and 2027
• Precise estimation of the size of the cloud backup and recovery market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the cloud backup and recovery market across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of cloud backup and recovery market vendors

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Table of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Sector
• Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global cloud backup and recovery market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global cloud backup and recovery market 2017 - 2021 ($ million)

• 4.2 Sector Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Sector Segment 2017 - 2021 ($ million)

• 4.3 End-user Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Sector

• 6.1 Market segments 
• Exhibit 30: Chart on Sector - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Sector - Market share 2022-2027 (%)

• 6.2 Comparison by Sector 
• Exhibit 32: Chart on Comparison by Sector
• Exhibit 33: Data Table on Comparison by Sector

• 6.3 ICT - Market size and forecast 2022-2027
• Exhibit 34: Chart on ICT - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on ICT - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on ICT - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on ICT - Year-over-year growth 2022-2027 (%)

• 6.4 Manufacturing - Market size and forecast 2022-2027
• Exhibit 38: Chart on Manufacturing - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Manufacturing - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Manufacturing - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Manufacturing - Year-over-year growth 2022-2027 (%)

• 6.5 BFSI - Market size and forecast 2022-2027
• Exhibit 42: Chart on BFSI - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on BFSI - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on BFSI - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on BFSI - Year-over-year growth 2022-2027 (%)

• 6.6 Healthcare - Market size and forecast 2022-2027
• Exhibit 46: Chart on Healthcare - Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Healthcare - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Healthcare - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Healthcare - Year-over-year growth 2022-2027 (%)

• 6.7 Others - Market size and forecast 2022-2027
• Exhibit 50: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 51: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 53: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.8 Market opportunity by Sector 
• Exhibit 54: Market opportunity by Sector ($ million)

7 Market Segmentation by End-user

• 7.1 Market segments 
• Exhibit 55: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 56: Data Table on End-user - Market share 2022-2027 (%)

• 7.2 Comparison by End-user 
• Exhibit 57: Chart on Comparison by End-user
• Exhibit 58: Data Table on Comparison by End-user

• 7.3 Large enterprises - Market size and forecast 2022-2027
• Exhibit 59: Chart on Large enterprises - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Large enterprises - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Large enterprises - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Large enterprises - Year-over-year growth 2022-2027 (%)

• 7.4 SMEs - Market size and forecast 2022-2027
• Exhibit 63: Chart on SMEs - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on SMEs - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on SMEs - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on SMEs - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by End-user 
• Exhibit 67: Market opportunity by End-user ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 69: Chart on Market share by geography 2022-2027 (%)
• Exhibit 70: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 71: Chart on Geographic comparison
• Exhibit 72: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 73: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 77: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 81: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 85: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 89: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 93: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 Canada - Market size and forecast 2022-2027
• Exhibit 97: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.10 UK - Market size and forecast 2022-2027
• Exhibit 101: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.11 China - Market size and forecast 2022-2027
• Exhibit 105: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 106: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 107: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.12 Germany - Market size and forecast 2022-2027
• Exhibit 109: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 110: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 111: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 112: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 113: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 114: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 115: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 116: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 117: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 118: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 119: Matrix on vendor position and classification

• 12.3 Acronis International GmbH 
• Exhibit 120: Acronis International GmbH - Overview
• Exhibit 121: Acronis International GmbH - Product / Service
• Exhibit 122: Acronis International GmbH - Key offerings

• 12.4 Actifio Inc. 
• Exhibit 123: Actifio Inc. - Overview
• Exhibit 124: Actifio Inc. - Product / Service
• Exhibit 125: Actifio Inc. - Key offerings

• 12.5 Arcserve (USA), LLC 
• Exhibit 126: Arcserve (USA), LLC - Overview
• Exhibit 127: Arcserve (USA), LLC - Product / Service
• Exhibit 128: Arcserve (USA), LLC - Key offerings

• 12.6 Asigra Inc. 
• Exhibit 129: Asigra Inc. - Overview
• Exhibit 130: Asigra Inc. - Product / Service
• Exhibit 131: Asigra Inc. - Key news
• Exhibit 132: Asigra Inc. - Key offerings

• 12.7 Carbonite Inc. 
• Exhibit 133: Carbonite Inc. - Overview
• Exhibit 134: Carbonite Inc. - Product / Service
• Exhibit 135: Carbonite Inc. - Key offerings

• 12.8 Commvault Systems Inc. 
• Exhibit 136: Commvault Systems Inc. - Overview
• Exhibit 137: Commvault Systems Inc. - Product / Service
• Exhibit 138: Commvault Systems Inc. - Key offerings

• 12.9 Datto Holdings Corp. 
• Exhibit 139: Datto Holdings Corp. - Overview
• Exhibit 140: Datto Holdings Corp. - Product / Service
• Exhibit 141: Datto Holdings Corp. - Key offerings

• 12.10 Hewlett Packard Enterprise Co. 
• Exhibit 142: Hewlett Packard Enterprise Co. - Overview
• Exhibit 143: Hewlett Packard Enterprise Co. - Business segments
• Exhibit 144: Hewlett Packard Enterprise Co. - Key news
• Exhibit 145: Hewlett Packard Enterprise Co. - Key offerings
• Exhibit 146: Hewlett Packard Enterprise Co. - Segment focus

• 12.11 International Business Machines Corp.
• Exhibit 147: International Business Machines Corp. - Overview
• Exhibit 148: International Business Machines Corp. - Business segments
• Exhibit 149: International Business Machines Corp. - Key news
• Exhibit 150: International Business Machines Corp. - Key offerings
• Exhibit 151: International Business Machines Corp. - Segment focus

• 12.12 Microsoft Corp. 
• Exhibit 152: Microsoft Corp. - Overview
• Exhibit 153: Microsoft Corp. - Business segments
• Exhibit 154: Microsoft Corp. - Key news
• Exhibit 155: Microsoft Corp. - Key offerings
• Exhibit 156: Microsoft Corp. - Segment focus

• 12.13 N able Solutions ULC and N able Technologies Ltd.
• Exhibit 157: N able Solutions ULC and N able Technologies Ltd. - Overview
• Exhibit 158: N able Solutions ULC and N able Technologies Ltd. - Product / Service
• Exhibit 159: N able Solutions ULC and N able Technologies Ltd. - Key offerings

• 12.14 Rackspace Technology Inc. 
• Exhibit 160: Rackspace Technology Inc. - Overview
• Exhibit 161: Rackspace Technology Inc. - Product / Service
• Exhibit 162: Rackspace Technology Inc. - Key offerings

• 12.15 Redstor 
• Exhibit 163: Redstor - Overview
• Exhibit 164: Redstor - Product / Service
• Exhibit 165: Redstor - Key offerings

• 12.16 Veeam Software Group GmbH 
• Exhibit 166: Veeam Software Group GmbH - Overview
• Exhibit 167: Veeam Software Group GmbH - Product / Service
• Exhibit 168: Veeam Software Group GmbH - Key offerings

• 12.17 Veritas Technologies LLC 
• Exhibit 169: Veritas Technologies LLC - Overview
• Exhibit 170: Veritas Technologies LLC - Product / Service
• Exhibit 171: Veritas Technologies LLC - Key news
• Exhibit 172: Veritas Technologies LLC - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 173: Inclusions checklist
• Exhibit 174: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 175: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 176: Research methodology
• Exhibit 177: Validation techniques employed for market sizing
• Exhibit 178: Information sources

• 13.5 List of abbreviations 
• Exhibit 179: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

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