Virtual Machine Backup and Recovery Market overview
The Virtual Machine Backup and Recovery Market is quickly expanding. The Virtual Machine Backup and Recovery Market is expected to register a CAGR of 6.9% during the forecast period to reach USD 3.25 Billion by 2030. Virtual machine backup and recovery solutions secure containerized apps and infrastructure while minimizing the business impact by allowing for smooth and automated recovery with minimal downtime and restore functionality. Upgraded technology opens up new possibilities for application development while also protecting against an increasing variety of cyber threats.
The technique of duplicating data present on a virtual machine in a virtual environment to prevent its loss is known as virtual machine backup. Virtual machine backup and recovery, also known as virtual server backup and recovery, is a crucial duty for storage and backup administrators. Critical data is accumulating in massive amounts all around the world. It is critical to safeguard this data from external threats and attacks; this growing demand is one of the market's driving forces. The high level of competition from open-source alternatives, on the other hand, is a market restraint.
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Virtual Machine Backup and Recovery Market segmentation
Agent type, organization size, deployment, vertical, and region/country have all been used to segment the worldwide virtual machine backup and recovery market. The global virtual machine backup and recovery market are classified into two types of agents: agent-based and agentless.
The global virtual machine backup and recovery market have been segmented into IT and telecommunications, banking, financial services, and insurance (BFSI), healthcare and life sciences, government and public sector, retail and consumer goods, manufacturing, and others, based on vertical. North America, Europe, Asia-Pacific, the Middle East, Africa, and South America were the five regions studied for the worldwide virtual machine backup and recovery market.
Regional classification
During the forecast period of 2019 to 2024, the global virtual machine backup and recovery market is expected to develop at a CAGR of 7.5 percent. North America, Europe, Asia-Pacific, the Middle East, Africa, and South America were all studied in the worldwide virtual machine backup and recovery market.
Because of the increasing deployment of virtual machines in the area, North America accounted for the largest market share. The United States dominates the market in North America since it is the most technologically advanced country and home to several significant companies, including VMware, Inc. and IBM Corporation. To improve and spread solutions, key stakeholders are forming various relationships with other technology companies. Due to the growing requirement among businesses to deploy virtual machine backup and recovery, Europe is likely to be the second-largest market throughout the study period. During the forecast period, Asia-Pacific is expected to be the fastest-growing market in the global virtual machine backup and recovery market. The increasing usage of virtual machine backup and recovery services across sectors, as well as the growing volume of vital data, are driving the market in Asia-Pacific to grow.
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Industry news
The Virtual Machine Backup and Recovery market research includes a comprehensive analysis of the global market, regional and country-level market sizes, segmentation of market growth, market share, competitive landscape, and sales analysis, among other things. According to our recent research, the global Virtual Machine Backup and Recovery market will be worth USD 3.25 Billion in 2030, up from USD 1418.1 million in 2020, a rise of XX percent. For the next five years, the global Virtual Machine Backup and Recovery market is predicted to develop at a CAGR of 6.9%.
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