How a Cloud Backup & Recovery Software market will hit US$ 31,675 million: Insights and opportunity

Cloud backup and recovery software is a solution that allows organizations to safely store their data in the cloud and recover it in the event of data loss or system failure ensures data security and availability. This software provides features such as deduplication, encryption, incremental backup, optimizes storage space and reduces bandwidth requirements. It provides flexible recovery options, allowing users to quickly and efficiently restore individual files, folders, or the entire system. Cloud backup and recovery software helps businesses protect their critical data, reduce downtime, and ensure productivity.

A study conducted by Coherent market insights estimated that The global cloud backup & recovery software market was valued at US$ 20,321 Mn in 2021 and is forecast to reach a value of US$ 31,675 Mn by 2030 at a CAGR of 24.8% between 2022 and 2030.

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Cloud Backup and Recovery Software market has grown exponentially in recent years. As businesses increasingly rely on digital data for their operations, the need to protect and recover that data has become increasingly important. Cloud backup and recovery software provides a simple and efficient solution by enabling organizations to securely store their data in the cloud and perform rapid recovery in case of data loss or system failure This market is driven by factors such as increasing adoption of cloud computing, increasing amount of data generated by companies, increasing awareness on the importance of data storage and retrieval is an indispensable tools.


There are many companies offering a wide range of options in the fiercely competitive market for cloud backup and recovery software. Established software companies, cloud service providers, and providers of specialized backup and recovery solutions are key players in this sector. The competition between these providers is based on elements like product features, dependability, scalability, pricing, and customer support. In order to stay competitive, companies continually innovate the market by adding new features and functionalities. Businesses may now take advantage of integrated solutions that combine the strengths of both parties thanks to partnerships and collaborations that have grown widespread between software vendors and cloud service providers. The demand for data protection and recovery solutions is rising, and it is anticipated that the market for cloud backup and recovery software will continue to expand in the

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Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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