The report projects that the cloud backup market will reach $10.25 billion by 2025. The opportunity for industry participants was valued at $1.29 billion in 2016, so the report’s 2025 prediction on market growth represents a compound annual growth rate (CAGR) of 25.90 percent from 2017 to 2025.
The report—titled “Cloud Backup Market Size and Forecast to 2025,” was published by Verified Market Research and highlights key trends and top players in the cloud backup market, while projecting future outlook.
According to the report, the increase in the global demand for cloud-based services and cloud backup is being driven and fueled by increasing data storage needs at large enterprises, since the cloud provides greater efficiency at a much lower cost. The research firm notes that “Cloud backup has helped IT professionals store their confidential information securely in a single cloud-based repository, designed for the mission critical requirements of business.”
Eran Farajun, President of Asigra said “The global cloud backup market is expanding at a phenomenal rate and Asigra is positioned at the front of the pack with our cloud-forward data protection platform and deployment model”.
The report ranked the top cloud backup software providers, listing Asigra as a “major player” in the cloud backup space. Their position in cloud-based data protection continues to rise with the company’s introduction of version 14 of the company’s cloud-based data protection platform. The software converges data protection and cyber security to counter rapidly growing malware threats, including ransomware Attack-Loops, which target backup data to prevent successful recoveries and force organizations to surrender ransom payments. Visit Asigra for more information: www.asigra.com