A new report from technology research firm Technavio indicated the global cloud backup and disaster recovery (BDR) market could expand at a 12.94 percent compound annual growth rate (CAGR) between 2016 and 2020. Here are the details.
A new report from technology research firm Technavio indicated the global cloud backup and disaster recovery (BDR) market could expand at a 12.94 percent compound annual growth rate (CAGR) between 2016 and 2020.
Expect significant growth across the global cloud backup and disaster recovery (BDR) market over the next few years, according to a new report from Technavio.
The technology research firm indicated the global cloud BDR market could expand at a 12.94 percent compound annual growth rate (CAGR) between 2016 and 2020.
Technavio also pointed out the global cloud BDR market could grow for a number of reasons.
"Cloud backup and recovery solutions securely copy the files to many servers. These solutions are safe from hard drive failures that are common with PCs. The files are also encrypted so that no one other than the user can view them, protecting the data from viruses and hackers," Technavio said in a prepared statement. "As well, cloud backup and recovery solutions allow fast and easy access to all backed-up files."
The cloud BDR sector represents a valuable opportunity, which may lead additional cloud services providers (CSPs) to enter this market as well.
So how can CSPs succeed in the cloud BDR market?
BDR software provider StorageCraft recently provided the following recommendations:
- Define disaster -- "When you discuss disaster recovery, it's important to make the distinction between a site-destroying event and the failures that are likely to happen. It's not the big things you'll be worried about initially; it's the small things that bring business to a standstill," StorageCraft wrote in a blog post.
- Understand the differences between DR and backup -- Effective DR requires a CSP to help a customer create redundancies to reduce or eliminate downtime, while backup is "only one piece of the puzzle," according to StorageCraft.
- Focus on downtime -- Highlight the importance of reducing or eliminating downtime and show customers how much money they could lose due to downtime.
- Explore various delivery methods -- Examining multiple delivery methods enables a CSP to find affordable solutions that make sense to a variety of customers, StorageCraft noted.
- Discuss the value of BDR -- Notifying customers about the results of their backups and performing on-site tests periodically can help a CSP illustrate the value of its BDR services.
In addition, StorageCraft pointed out possessing cloud BDR expertise can deliver long-lasting value for a CSP.
"Equipping yourself with more knowledge about backup and DR is the best way to increase the profit you get from these types of services," StorageCraft noted. "There's a lot to learn, but the more you know, the easier it is to have meaningful conversations."