The Global Virtual Machine Backup and Recovery Market is expected to register a CAGR of 7.5% during the forecast period to reach USD 2.21 Billion by 2025.
Virtual machine backup is the process of copying data present on a virtual machine in a virtual environment to prevent its loss. Virtual machine backup or virtual server backup and recovery is an important task performed by storage and backup administrators. Critical data is increasing in huge volumes all across the globe. It is important to protect this data from external threats and attacks; this increasing need is a factor driving the market growth. However, the high competition from open-source alternatives is a restraint for the market.
The global virtual machine backup and recovery market has been segmented based on agent type, organization size, deployment, vertical, and region/country.
Based on organization size, the global virtual machine backup and recovery market has been divided into small- and medium-sized enterprise (SME) and large enterprise. The SME segment is expected to register the higher CAGR in the forecast period.
On the basis of vertical, the global virtual machine backup and recovery market has been divided into IT and telecommunication, banking, financial services, and insurance (BFSI), healthcare and life sciences, government and public sector, retail and consumer goods, manufacturing, and others. The adoption of virtual machine backup and recovery solutions is higher in the IT and telecommunication vertical.
The key players in the global virtual machine backup and recovery market are Quest Software Inc. (US), MSP 360 (US), Micro Focus (UK), Storix, Inc. (US), Cisco System, Inc (US), NetJapan, Inc. (Japan), Acronis International GmbH (Switzerland), IBM Corporation (US), Vembu Technologies (India), Rackspace Inc. (US), Veeam Software (Switzerland), Veritas Technologies LLC (US), VMware, Inc (US), Microsoft Corporation (US), and Commvault Systems Inc (US).
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