Cloud Backup And Recovery Market Is Projected To Reach USD 10.25 Billion By 2032, At A CAGR Of 15.2% During The Forecast Period

The global Cloud Backup and Recovery market size was valued at USD 4.95 billion in 2022 and is projected to reach USD 10.25 billion by 2032, at a CAGR of 15.2% during the forecast period.

Due to its scalability, flexibility, and affordability, cloud-based backup and recovery solutions are in more demand, which has contributed to the market's expansion. The demand for cloud-based backup and recovery solutions is also being fueled by the expanding Bring Your Own Device (BYOD) trend in a number of different industries. The worldwide cloud backup and recovery market is anticipated to be dominated by the private cloud segment. The significant market share of this sector may be due to its advantages, which include increased security, data privacy, reduced complexity & ownership & management expenses, etc.

In-depth analysis, market size and forecast, trends, growth drivers, challenges, and vendor analysis for about 25 vendors are all included in our report on the cloud backup and recovery market. The research provides a comprehensive overview of the current state of the global market, the newest drivers and trends, and the general market environment. Reduced IT spending, rising interest in cloud-based applications, and strict security guidelines to protect client data are all driving factors in the market.

The Cloud Backup and Recovery market provides data on key variables that determine market size, share, scope, and segmentation. It also sheds light on the leading market players while highlighting the advantageous competitive environment and long-lasting trends. This study makes use of data and a variety of the best available techniques to anticipate the future status of the worldwide market. Additionally, it uses primary and secondary research methods to compile the most important information. The report gives an examination of how trends like mergers may impact the markets future based on current market development.

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Company Profiles:

• Amazon Web Services
• Microsoft Corporation
• IBM Corporation
• Dell EMC
• Google LLC
• Oracle Corporation
• VMware Inc.
• Hewlett Packard Enterprise Development LP
• Cisco Systems, Inc.
• NetApp, Inc.
• Veeam Software
• Commvault Systems, Inc.
• Veritas Technologies LLC
• Carbonite, Inc.
• Acronis International GmbH

Segmentation:
By solution, the market can be segmented into:
• Primary Storage
• Disaster Recovery
• Cloud-To-Cloud Backup
• Application Backup
• Others

By service, the market can be segmented into:
• Training and Consulting
• Support and Maintenance
• Cloud Integration and Migration
• Managed Services

By deployment model, the market can be segmented into:
• Private Cloud
• Public Cloud
• Hybrid Cloud

Geographical Analysis:
The North America cloud backup and recovery market is the largest, driven by the presence of key players such as Microsoft, IBM, and Oracle, among others. The region's dominance can also be attributed to the early adoption of cloud-based services in countries like the US and Canada. For example, in 2020, Veeam Software announced its acquisition by Insight Partners for USD 5 billion, a significant move in the cloud backup and recovery market.

The Europe cloud backup and recovery market is also growing, owing to the increasing adoption of cloud services in the region. Countries like the UK, Germany, and France are driving growth in this region. For example, in 2020, Acronis expanded its European presence by opening a new data center in Switzerland, which will cater to its cloud backup and recovery services.
The Asia Pacific cloud backup and recovery market is growing at a rapid pace, owing to the increasing adoption of cloud-based services in countries like China, India, and Japan. In 2020, Commvault announced the expansion of its Metallic Backup-as-a-Service offering in the Asia Pacific region to meet the growing demand for cloud-based data protection solutions.

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The Latin America cloud backup and recovery market is growing, but at a slower pace compared to other regions. The market is driven by the increasing adoption of cloud-based services in countries like Brazil, Argentina, and Mexico. In 2020, Veeam Software announced a partnership with Ingram Micro to expand its cloud backup and recovery services in Latin America.

The Middle East and Africa cloud backup and recovery market is also growing at a steady pace, owing to the increasing adoption of cloud-based services in the region. Countries like Saudi Arabia, South Africa, and the UAE are driving growth in this region. For example, in 2020, Dell EMC launched its PowerProtect DD series appliances in the Middle East and Africa region, which offers cloud backup and recovery solutions to its customers.

The research goes into great detail on several aspects that have been studied as contributing to the market's growth trajectory. The paper also identifies the challenges that the worldwide market for cloud backup and recovery is facing. Additionally, it evaluates the negotiating power of suppliers and customers, the threat posed by new competitors and product substitutes, and the level of market rivalry. The impact of the most recent government regulations is also thoroughly examined in the paper. It examines the development of the Cloud Backup and Recovery market over the course of forecast intervals.

Growth Factors:

There is a greater understanding of the advantages of cloud backup and recovery options, which can include quicker data access, better disaster recovery capabilities, and cheaper storage.
As companies abandon the conventional on-premises IT infrastructure architectures, there is an increasing need for cloud-based services.
With hybrid cloud deployments becoming more and more prevalent, businesses may benefit from the scalability and flexibility of the public cloud while still keeping some data and apps on-premises.
Businesses may now back up their data securely and effectively to the cloud thanks to quick developments in data security technology.

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Reasons to Purchase the Cloud Backup and Recovery Market Report:

1. The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
2. Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
3. Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
4. The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
5. Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.

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