Cloud Backup Market size is expected to rise by USD 107.23 billion between 2025 and 2037, driven by a CAGR of more than 25.4%. The projected industry size of cloud backup in 2025 is USD 6.82 billion.
The enormous amount of data generated, the lower prices and higher efficiency of cloud backup than on-premises backup, and the expanding use of Software as a Service (SaaS) have led to an increasing demand for cloud backup solutions and services. There are a large number of SaaS business apps supplied via the cloud that are designed to address particular problems in the public sector. Furthermore, the increasing use of cloud backup services worldwide to keep track of their financial data is raising cloud backup market growth. For instance, in 2021, Amazon Web Services (AWS), a U.S.-based IT service management company and a wholly-owned subsidiary of Amazon, collaborated with Goldman Sachs, a U.S.-based investment banking company, to create new cloud-based data and data analytics solutions for financial institutions.
In addition, the growing usage of smartphones, cameras, and other smart gadgets is anticipated to impel cloud backup market revenue. For instance, in 2023, around 6.92 billion people used smartphones, accounting for around 85% of the world’s population. Consumers are using cloud backup to safeguard their data permanently.
Challenges
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
25.4% |
Base Year Market Size (2024) |
USD 5.66 billion |
Forecast Year Market Size (2037) |
USD 112.89 billion |
Regional Scope |
|
Component (Solution & Services)
By the end of 2037, the services segment is estimated to gain the largest cloud backup market share, primarily due to the growing need to strengthen an organization's data protection, business continuity, and regulatory compliance procedures without increasing IT staff effort. Organizations are rapidly embracing digital transformation, raising the demand for increasingly scalable and cost-effective backup and recovery solutions, paving the way for market growth.
Deployment (Private Cloud, Public Cloud, Hybrid Cloud)
The public cloud segment in the cloud backup market is expected to register a robust CAGR of 25.76% during the forecast period attributed to the increasing volume of businesses and consumer data, rising digital transformation acceleration in SMEs and large companies, and growing demand for public cloud solutions to preserve sensitive data and applications. In addition, growing demand for remote collaboration tools like Microsoft 365 and Google Workspace, and improving data backup processes through AI-based optimizations and automated data management are poised to boost segment growth.
Our in-depth analysis of the global cloud backup market includes the following segments:
Segment |
Subsegment |
Component |
|
Enterprise Size |
|
Deployment |
|
Service Provider |
|
End user |
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North America Market Forecast
The North America cloud backup market share is set to cross 38% by the end of 2037 owing to a strong presence of major IT players or service providers along with cloud providers and data centers. Such technological competence allows for the development and adoption of cloud backup solutions more rapidly than in other regions. In addition, the increasing incidence of cybersecurity concerns and the growing trend of remote work adoption post-COVID-19 have resulted in increasing demand for cloud backup services and solutions in this region.
The U.S. is one of the most technologically distinctive countries, with an advanced industrial infrastructure. Factors such as increasing data from IoT devices, digital platforms, and business operations, rising risks of cyber threats, and growing need for cost-effective and flexible backup solutions will propel the market growth.
Europe Market Statistics
The Europe cloud backup market is expected to expand at a significant pace during the forecast period due to high usage of cloud services in the region and rising adoption of advanced cloud-based solutions across several industries. The adoption of cloud services increased by around 5% in Europe between 2020 and 2021. Furthermore, many governments of European countries have invested significantly in the adoption of cloud computing in the IT sector.
Germany is one of the largest markets for cloud backup in Europe, reflecting a mature cloud adoption landscape and strong enterprise demand. The market is growing as a result of stringent data regulation, rising industrial digitalization, and increasing adoption of advanced cloud technology in SMEs and large enterprises in major cities in the country.
The market is highly competitive, comprising key players operating at global and regional levels. These key players are focused on developing advanced technologies and products to cater to the rising demand. Here is a list of key players operating in the global market:
Author Credits: Abhishek Verma
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