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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Multi-cloud Data Protection Market
Request Now !Multi-cloud is the use of multiple cloud computing and storage services in a single network architecture. It can be all-private, all-public, or a combination of both. It is adopted widely by enterprises and organizations as it is more beneficial than traditional cloud models and provides more enhanced features. Multi-cloud data protection services provide a number of benefits to enterprises such as cost-effective storage and backup of retained data, which eliminates the need for physical tape infrastructure. Hence, these factors are expected to boost the market growth.
COVID-19 Scenario Analysis:
Enormous amount of data uploaded on cloud and digital transformation across the globe are the major key factors that drive growth of the market. In addition, rise in cyber-attacks and data breaches among various industries is expected to supplement the market growth. However, lack of industry expertise and high cost of these data protection services hampers the market growth. Furthermore, surge in the use of multi-cloud by enterprises around the world is expected to provide lucrative opportunities for the market.
Companies are making strategies to sustain in the competitive market and are launching upgraded services, which boosts the market growth. For instance, IBM introduced its integrated backup & disaster recovery approach, which provides reliable and robust data protection to a wide number of applications.
North America is expected to lead the market, owing to early technological advancements and wide number of service providers present in the region. In addition, Asia-Pacific is also expected to witness a significant growth during the forecast period, owing to emerging economies such as India, China, and Japan. Moreover, large number of small and medium enterprises are adopting multi-cloud data protection, which is expected to create demand for these types of solutions and boost the market growth.
Key benefits of the report:
Key Market Segments
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By Deployment model |
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Key Market Players
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