Carbonite endpoint protection5/3/2023 ![]() North America was the largest region in the data backup and recovery market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The data backup and recovery are used in the process of making a backup copy of data, keeping it somewhere safe in case it becomes lost or damaged, and then restoring the data to the original location or a secure backup so it can be used once more in operations. Data backup and recovery refer to the area of onshore and cloud-based technology solutions that allow enterprises to secure and maintain their data for legal and business requirements. Only goods and services traded between entities or sold to end consumers are included. The data backup and recovery market includes revenues earned by entities by providing disks/tape backup, hybrid cloud backup, and direct-to-cloud backup, recovery from local device, recovery from cloud and recovery right in the cloud.The market value includes the value of related goods sold by the service provider or included within the service offering. The data backup and recovery market is expected to grow to $23.64 billion in 2027 at a CAGR of 13.7%. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The global data backup and recovery market grew from $12.18 billion in 2022 to $14.15 billion in 2023 at a compound annual growth rate (CAGR) of 16.2%. ![]() , Cohesity, Broadcom Inc., Carbonite Inc., Actifio Technologies and Redstor Limited. Data Backup And Recovery Global Market Report 2023
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