The Asia Pacific Cloud Backup Market would witness market growth of 24.6% CAGR during the forecast period (2024-2031).
The China market dominated the Asia Pacific Cloud Backup Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,995.8 million by 2031. The Japan market is registering a CAGR of 23.9% during (2024 - 2031). Additionally, The India market would showcase a CAGR of 25.5% during (2024 - 2031).
One of the key sources of this massive data generation is the rise of IoT. For instance, an autonomous vehicle generates 4 terabytes of data per day. This information must be stored securely, and cloud backup solutions are becoming the go-to option for managing and safeguarding this vast volume of data.
Moreover, Big Data analytics is another major contributor to the growing demand for cloud backup solutions. Businesses from a variety of sectors employ sophisticated analytics tools to extract insights from the immense quantities of data they accumulate.
In an effort to modernize their infrastructures, safeguard data, and guarantee business continuity, numerous nations in the region are making substantial investments in cloud technologies. According to a report by the Asian Development Bank (ADB), the economic impact of cloud computing on middle- and high-income economies in Asia and the Pacific is sizable. For 2023, its contribution to the economies of Australia, India, Indonesia, Japan, Malaysia, New Zealand, Philippines, Singapore, the Republic of Korea, Thailand, and Vietnam ranged from 0.25% to 2.23% of gross domestic product (GDP). This underscores the increasing reliance on cloud services, including cloud backup solutions.
Free Valuable Insights: The Global Cloud Backup Market is Predict to reach USD 24.1 Billion by 2031, at a CAGR of 24%
Based on Component, the market is segmented into Solutions and Services. Based on Solutions, the market is segmented into Primary Storage, Disaster Recovery, and Backup Storage. Based on Enterprise Size, the market is segmented into Large Enterprises and SMEs. Based on Deployment, the market is segmented into Public Cloud, Private Cloud, and Hybrid Cloud. Based on Service Providers, the market is segmented into Cloud, Managed, Telecom & Communication, and Others. Based on End Use, the market is segmented into BFSI, IT & ITES, Healthcare, Retail & E-commerce, Manufacturing, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
By Component
By Enterprise Size
By Deployment
By Service Providers
By End Use
By Country
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