Cloud backup and recovery software refers to tools and applications that are used to backup data from primary storage like hard disks and send it to a remote data storage service over the internet or cloud. These tools and applications provide automated backup, retrieval and restoration of data stored on virtual machines, physical servers, desktops and mobile devices. Some key features of cloud backup and recovery software include continuous data protection, snapshot backups, file recovery, bare metal recovery and disaster recovery using the cloud.

The global cloud backup and recovery software market is estimated to be valued at US$ 36460.85 Bn in 2024 and is expected to exhibit a CAGR of 9.3% over the forecast period from 2024 to 2031.

The growing adoption of cloud computing and increasing demand for disaster recovery and business continuity are driving the demand for cloud backup and recovery software. Cloud backup offers cost-effective solutions for data protection and recovery along with 24/7 data accessibility from any location. It helps in eliminating the use of physical storage hardware and reduces IT overhead. Need for reliable data protection from ransomware, virus attacks and device failures is also propelling the growth of cloud backup and recovery software market globally.

Key Takeaways

Key players operating in the cloud backup and recovery software are Novartis AG, AstraZeneca PLC., Bayer AG, Sanofi SA, Pfizer Inc., Merck & Co., Johnson and Johnson, GlaxoSmithKline PLC., Amgen Inc., AbbVie Inc., F. Hoffmann-La Roche AG., Eli Lilly and Company., and AGC Biologics. These players are focusing on developing innovative cloud backup solutions and adopting strategies like partnerships, mergers and acquisitions to expand their geographic footprint.

There is a rise in demand for hybrid cloud backup solutions that allow organizations to meet data sovereignty, compliance and low-latency requirements. This presents significant growth opportunities for cloud backup vendors to offer flexible deployment models. The growing need for multi-cloud backup will also drive innovation and investments in cloud backup portfolios that support heterogeneous cloud environments.

Majority of cloud backup providers are targeting Asia Pacific and Middle East & Africa markets for global expansion owing to high smartphone and internet penetration. Countries like India, China, Brazil, South Africa and Indonesia are emerging as key focus areas due to increasing digitalization and presence of small and medium enterprises.

Market drivers and restraint:

The increasing adoption of cloud computing solutions among small and medium enterprises for backup and recovery is a major driver propelling the growth of cloud backup and recovery software market. The increasing need for disaster recovery and business continuity solutions is also augmenting the demand for cloud backup services. Lack of dedicated IT teams and budgets for setting up on-premises backup infrastructure is prompting SMEs to adopt cloud backup solutions. However, concerns around data security, privacy and regulatory compliances are some of the factors limiting the adoption of cloud backup & recovery software market  Size And Trends services. The dependence of cloud backup on strong and consistent internet connectivity can also negatively impact the market growth.

Segment Analysis

The cloud backup and recovery software market is dominated by the public cloud sub segment. This is because public cloud solutions require minimal infrastructure investment and have low upfront costs. They offer easy scalability and are well suited for small and medium enterprises looking for cost effective disaster recovery and backup solutions without huge capital expenditure. Large enterprises also use public cloud for backup of non sensitive secondary data.

The private cloud sub segment is growing at a fast pace owing to concerns around data security and privacy. Private clouds are hosted within the organization's on premises infrastructure or at an off premises location and access is limited to authorized users only. Industries like banking, healthcare and government prefer private clouds as they allow enterprises to address regulatory compliance needs for sensitive data.

Global Analysis

The North America region currently dominates the cloud backup and recovery software market attributable to high technology adoption rates and presence of leading market players. Large enterprises and governments in USA and Canada are major adopters of cloud backup. However, the Asia Pacific region is emerging as the fastest growing market driven by growing economies, expanding internet infrastructure and increasing penetration of clouds across industries in countries like China, India and Japan. The increasing spending on data center infrastructure especially by large companies is also propelling the cloud backup adoption in Asia Pacific. Europe is another major regional market owing to strict data protection laws and focus on disaster recovery planning among organizations across major countries such as Germany, UK and France.

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