Big Data as a Service Market Report 2022-2027, Industry Share, Size, Growth, Trends and Opportunities
Big Data as a Service Market Report 2022-2027, Industry Share, Size, Growth, Trends and Opportunities
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According to IMARC Group’s latest report, titled “Cloud Backup Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global cloud backup market reached a value of US$ 3.2 Billion in 2020. Cloud backup, or online backup, refers to the method of uploading data to a remote, cloud-based server. It provides solutions for data and applications with the help of a network or internet connection to a physical and virtual backup service. The service offers cloud computing resources to create, edit, manage and restore data and application backup. It supports the data stored in and accessed from multiple distributed and connected resources, consuming lesser bandwidth to transfer data over the public cloud. As a result, cloud backup is extensively employed by companies, hosting providers, and cloud service providers.
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The global cloud backup market is primarily driven by the increasing volume of data generated across various industries. The adoption of cloud backup services is also facilitated by the emerging trend of Bring-Your-Own-Device (BYOD), which generates a massive amount of data. Cloud backup solutions are used for simple management and monitoring, real-time backup and recovery, data duplication, as well as customer support. The rising adoption of Software-as-a-Service (SaaS) among SMEs and the growing prevalence of hybrid cloud is also propelling the market growth. Furthermore, the outbreak of the COVID-19 pandemic has resulted in remote working due to stringent lockdown measures initiated by governments, which has escalated the demand for cloud backup solutions across the globe. Looking forward, IMARC Group expects the market to grow at a CAGR of 24.4% during 2021-2026.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
Breakup by Component:
Breakup by Service Provider:
Breakup by Organization Size:
Breakup by Deployment Mode:
Breakup by Vertical:
Breakup by Region:
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