Cloud Backup Market is predicted to reach USD 7.6 Billion at a CAGR of 20.0% during 2024-2032

Market Highlights

The cloud backup market is projected to register USD 7.6 billion at a CAGR of 20.0% from 2024 to 2032. The primary driver for adopting cloud backup and restore across businesses due to the growth in cloud adoption across both big and small is the requirement for agility and flexibility in the complexion of accelerating innovation and disturbances from competitors.

The cloud backup market refers to the industry that provides backup and storage services for data on remote cloud servers. It allows individuals and organizations to securely store and protect their data from loss or damage by creating copies of files and applications that can be accessed and restored from any location with an internet connection. Cloud backup offers scalable, cost-effective, and automated solutions for data protection and disaster recovery.

Segment Analysis

The global Cloud Backup market has been segmented based on Component, Deployment Type, Service Provider and Vertical.

On the basis of Component, the market is segmented into Solutions and Services. Due to its popularity as the leading supplier of cloud backup services or products for businesses, Solution held the greatest market share in 2021.

Based on Deployment Type, the global Cloud Backup market has been segmented into private, public, and hybrid. In 2021, the private cloud held the biggest market share. Private clouds made for companies who need complete data control, high levels of security, and customization.

Based on Service Provider, the global Cloud Backup market has been segmented into telecom and communication provider, cloud service provider, managed service provider. In 2021, cloud service providers held the biggest market share. These cloud services are housed in a data centre that has network connectivity and can be used by businesses or people.

Based on vertical, the global Cloud Backup market has been segmented into telecommunication and IT, Education, Government and public sector, banking and financial institute, customer goods and retail, healthcare, transportation and logistics, and others. In 2021, the market segment with the biggest share was banking and finance. The development of cloud computing in banking and financial institutions, as well as the rising need for cloud storage services

Regional Analysis

The global Cloud Backup market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Cloud Backup market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Cloud Backup market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Cloud Backup market comprises of Middle East, Africa, and Latin America.

The North America Cloud Backup Market dominated this market in 2022. Companies in the US place a high priority on digital transformation, and they are frequently recognised as early adopters of cutting-edge technologies such as the Internet of Things (IoT), additive manufacturing, big data analytics, connected industries, AI, augmented reality (AR), machine learning (ML), and virtual reality (VR), as well as the newest telecommunications technologies such as 4G, 5G, and LTE.

Asia Pacific is anticipated to experience the fastest growth during the course of the forecast. The emergence of regional firms like Alibaba Group and the quick ascent of China and India both aided in the market's progress. Demand for the nation's cloud computing industry has grown as a result of significant investments being made in the manufacturing and IT industries through initiatives like Make in India.

Key Findings of the Study

• The global Cloud Backup market is expected to reach USD 7.6 Billion by 2032, at a CAGR of 20.0% during the forecast period.


• The North America Cloud Backup Market dominated this market in 2022. Companies in the US place a high priority on digital transformation.


• Based on Component, the private cloud accounted for the largest market share in 2021.


• Microsoft Corporation (U.S), Code42 Software, Inc. (US), Datto, Inc. (U.S.), Oracle Corporation (U.S), IBM Corporation (U.S), EMC Corporation (U.S), VMware Inc. (U.S), Google Inc. (U.S) and Amazon Web Services. (U.S)