Toronto, Canada, April 16, 2019 --(PR.com
)-- Asigra Inc., a leading cloud backup, recovery and restore software provider since 1986, today highlighted recent data from industry analysts showing that significant growth is predicted in the market for cloud-based backup and recovery solutions. 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.
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.
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 “[C]loud backup has helped IT professionals store their confidential information securely in a single cloud-based repository, designed for the mission critical requirements of business.”
The report ranked the top cloud backup software providers, listing Asigra as a “major player” in the cloud backup space, among a list of 14 other vendors. Other backup providers mentioned include Carbonite, Inc., Microsoft, IBM, Symantec, and Veeam Software.
Asigra’s 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. In addition to being one of the most comprehensive offerings on the market, 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. The technology enables organizations to securely and cost-effectively manage a variety of data protection requirements impacting organizations today.
Asigra has also received a growing list of industry acknowledgements in the first quarter of 2019, including:
- Winning the Product of the Year award in two categories by TechTarget’s Storage Magazine in February: as the Gold Winner in the Backup and DR Software and Services Category, and the Gold Winner in the Backup and DR Hardware Category.
- Being named the Top Cloud Backup Vendor for 2019 by Backup Review in March
- Winning a Cybersecurity Excellence Award for Asigra Cloud Backup Evolved V14 in March
- Being named as a 2019 Business Continuity Award Finalist for Most Innovative Product of the Year
“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,” said Eran Farajun, Executive Vice President, Asigra. “The latest market research and number-one competitive ranking for our company reflects Asigra’s continuous award-winning efforts across the industry.”
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Trusted since 1986, Asigra provides organizations around the world the ability to quickly recover their data from anywhere through a global network of IT service providers who deliver Cloud Backup Evolved as either public, private and/or hybrid solutions. As the industry’s most comprehensive data protection platform for servers, virtual machines, endpoint devices, databases and applications, SaaS and IaaS based applications, Asigra lowers the total cost of ownership, reduces recovery time objectives, and eliminates silos of backup data by providing a single consolidated repository with 100% recovery assurance. Asigra’s innovative Recovery License Model provides organizations with a unique and cost-effective data recovery business model unlike any other in the market. The company has been recognized as a Gartner Cool Vendor and included in the Gartner Magic Quadrant for Enterprise Backup and Recovery Software since 2010. More information on Asigra can be found at www.asigra.com.
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 Verified Market Research, Global Cloud Backup Market Size and Forecast to 2025. August 2018