A new report from Transparency Market Research, provider of analytics, research, and advisory services for Fortune 500 companies, demonstrates there is a high need for replication of data in businesses today – with an increasing demand for data protection by way of cloud backup, wherein a large amount of data can be backed up to a remote cloud-based server.
While traditional backups face several challenges such as mismanagement by companies, a cloud solution for backup and recovery, enables automatic backup of data, and helps in streamlining and sharing of important documents relating to a business, helping companies to enhance business transparency and efficiency. The report, Cloud Backup Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025, also pointed to the rising adoption of SaaS as a contributor to the boost of cloud backup demand, noting the demand for cloud is driven by factors such as mammoth volumes of data generation, lower costs and greater efficiency than on-premises backup.
What else does the report assert?
- One of the key trends which is accelerating the growth of the global cloud backup market is the availability cloud backup for virtual machines, which has become an integral part of the it infrastructure. Enterprises are striving to achieve virtualization in the next few years as this technology offers several benefits such as better utilization of system resources and a rapid provisioning.
- Another trend which is influencing the market for cloud backup in a positive manner is the growing adoption of mobile technology, cloud computing, and web-based applications, in both commercial as well as industrial sectors.
- Additionally, the fear among businesses and enterprises regarding loss of data, which can generate significant negative impact on businesses, is a strong contributor to the growth of the cloud backup market.
Today’s market leaders want better business intelligence, with real-time analytics, especially in industries such as manufacturing, where more efficient use of vast amounts of data help operations function with greater efficiency.
As companies increasingly move data into cloud-based applications, many IT teams wrongly assume their SaaS vendors have a backup in place. After all, a SaaS application is always available, accessible from anywhere, and highly redundant, so why is a backup needed? However, an astonishing one in three businesses report losing data stored in cloud-based applications. Not only can the loss of the data itself be devastating to a company, but the time lost in attempting a recovery can be equally damaging. The truth is that even data in cloud-based applications is vulnerable to everything from end-user deletion, whether accidental or malicious to malware damage or ransomware attacks to operational errors such as accidental data overwrites. By adopting a cloud-enabled business strategy, and instituting a cloud backup protocol, progressive organizations shift their businesses to digitally transformed enterprises. According to MarketWatch, the cloud market is rising mainly due to the increasing number of business, worldwide.
Clearly, with this growth, comes the need to scrutinize best practices to keep data protection top of mind. Cloud backup is one such practice. Ready to learn more about cloud backup best practices? Talk to us today!