UK Cloud Backup Market
UK Cloud Backup Market Size By Component, By Service Provider, By Deployment Model, By Vertical, By Organization Size And Forecast
According to Verified Market Research, the UK Cloud Backup Market was valued at USD 93.5 Million in 2018 and is projected to reach USD 715.3 Million by 2026, growing at a CAGR of 30.16% from 2019 to 2026.
Cloud backup can be defined as a cloud-based application that offers an ability to have a backup of all the files automatically and store them safely for disaster recovery purposes. Cloud backup can be described as an approach used for backing up data that includes sending a copy of the data over a private or public network to an off-site server. Such an approach permits easy access to the data in case of urgent need of sudden recovery. Cloud backup offers restoration of all the data backed up in the system. Cloud backups can be provided for both public as well as private clouds.
The United Kingdom has been a known user of cloud-based services. The UK is considered as the sixth largest cloud users among other countries in the European Union. There are various factors for which cloud services are used such as e-mail, storage of files, hosting databases, CRM software and financial and accounting software applications. However, cloud backup solutions come with several potential threats. The threats that can hinder the growth of cloud computing solutions in the market such as Data breaches, Insufficient identity, credential, and access management, insecure interfaces and APIs, system vulnerabilities, account hijacking and shared technology vulnerabilities. Cloud services such as cloud backup are often controlled by third party vendors which give them control to regulate it which can, later on, result in various privacy concerns as mentioned above
The market is segmented on the basis of Component into Solution and Service. The U.K. Cloud Backup Market for Service is expected to have the fastest CAGR followed by Solution. The Cloud Backup Solution accounted for the largest market share is expected to grow at the highest CAGR over the forecast period. One of the main factors for the adoption of cloud backup solutions is the ability to manage of huge volumes of data sets making the cloud backup simpler than traditional methods of cloud backup solutions. Cloud backup solutions are also beneficial in improving security and therefore aid in bolstering an organization’s data protection strategy without increasing workload.
The major players in the market are Google LLC, International Business Machines Corporation, Oracle Corporation, Carbonite, Inc., Amazon Web Services, Inc., and Others. Google is one of the top five players in the U.K. Cloud Backup market. These companies will be profiled on the basis of their financials, their business segment breakdown, as well as product benchmarking. The competitive landscape section includes key development strategies and market ranking analysis of the above-mentioned players globally.
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