Cloud Backup Market - Industry Analysis, Market Size, Share, Trends,Application Analysis, Growth and Forecast 2020 - 2025
Global Cloud backup Market size is expected to reach $4.98 billion by 2025, at a CAGR of 20.87% during 2020-2025. In recent time, enterprises are replacing traditional Backup system with cloud based system to enhance the business efficiency and transparency. In addition to this, most of the companies have now realized the risk of losing data in a traditional Backup system and hence they are shifting their preferences to use cloud based Backup system. Similarly, the availability of cloud based backup for virtual machines are creating new opportunity for cloud Backup market. Approximately 55%-65% of enterprises are likely to move towards virtualization by the end of 2021 across the globe. Further, the growing adoption of cloud computing , rising requirement of computer data storage, and growing data center demand are building a favorable market environment for cloud Backup. Key Takeaways North America dominates the cloud Backup market owing to rising number of data centers and clou...