According to the recent comprehensive research by Market Research Future Reports (MRFR), the global virtual machine backup and recovery market is expected to record a CAGR of 7.5% and value USD 2.21 billion by the end of 2025. The global virtual backup and recovery market has been experiencing high demand at a global level owing to the increased demand across the various sector. The massive volume of generated data demands reliable protection which creates a demand for virtual machine backup. The growing adoption of digitalization and deployment of the latest technologies is another factor which is encouraging the usage of virtual machine backup. Besides, the virtual machine backup and restoration provides other advantages such as the backup of the window at any time, which lacks in physical backups. The adoption of virtual machine backup is taking place at a very swift pace. Therefore, the virtual machine backup and recovery market are likely to thrive exponentially.
However, the challenged posed due to the outbreak of COVID-19 has resulted in a changing market landscape. The market has been studied efficiently with the long haul with projections in the MRFR reports. The global virtual machine backup and recovery market are likely to exhibit a positive impact of the pandemic.
The global virtual machine backup and recovery market can be segregated on the basis of agent type, organization size, vertical, deployment, and region.
On the grounds of agent type, the global virtual machine backup and recovery market can be divided into agentless and agent-based.
On the grounds of organization size, the global virtual machine backup and recovery market can be divided into small- and medium-sized enterprises (SMEs) and large enterprises.
On the grounds of vertical, the global virtual machine backup and recovery market can be divided into banking, IT and telecommunication, financial services, and insurance (BFSI), manufacturing, government and public sector, healthcare and life sciences, retail and consumer goods, and others.
On the grounds of deployment, the global virtual machine backup and recovery market can be divided into cloud and on-premise.
On the grounds of the region, the global virtual machine backup and recovery market can be divided into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.
As per the study by MRFR, the global market is estimated to be dominated by North America. The North American market is likely to acquire the largest market share owing to the growing adoption of virtual machines. Among all nations, the US is likely to make the most substantial contribution to expanding the market. Besides, the established players take initiatives to expand the market. Tactics like partnerships, mergers and acquisition are the most used strategies.
On the other hand, Europe is expected to be the second most lucrative market during the assessment period. The virtual machine backup is in a significant demand which is likely to enlarge the market size. As per the study, the APAC region is estimated to the fastest-growing region during the assessment period. There has been a rise in the adoption across several industries which is likely to drive the regional market.
The outbreak of COVID-19 is likely to change the market dynamics of several regions. Several markets have been influenced significantly due to the observation of nationwide lockdown in various countries.
The distinguished players of the global virtual machine backup and recovery market are Veritas Technologies LLC (US), Veeam Software (Switzerland), VMware, Inc. (the US), Commvault Systems Inc (US), Microsoft Corporation (US), Acronis International GmbH (Switzerland), Vembu Technologies (India), Rackspace Inc. (US), IBM Corporation (US), Quest Software Inc. (US), Micro Focus (UK), MSP 360 (US), Storix, Inc. (the US), NetJapan, Inc. (Japan), Cisco System, Inc (US), and a few others.
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