The Latin America, Middle East and Africa Cloud Backup Market would witness market growth of 26.8% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Others Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $52.7 million by 2031. The Argentina market is showcasing a CAGR of 29.3% during 2024-2031. Additionally, the UAE market would register a CAGR of 27.7% during 2024-2031.
Another factor contributing to the growth of the cloud backup market is the increasing reliance on cloud computing for business operations. As organizations shift their IT infrastructure to the cloud, the need for complementary services such as cloud backup becomes more apparent.
Additionally, cloud computing provides numerous benefits, such as the ability to access data as well as applications from any location with an internet connection, cost reductions, and flexibility. However, this reliance on the cloud also requires reliable backup solutions to protect data in case of an outage or failure.
Businesses and governments invest in cloud technologies to protect data, ensure business continuity, and meet increasing regulatory demands. The rapid growth of healthcare, IT, and finance sectors and a rising awareness of cybersecurity threats drive the region’s cloud backup market. As one of the largest economies in Latin America, Brazil has experienced a surge in cyberattacks, including ransomware and data breaches, particularly targeting critical infrastructure and businesses. According to Brazil’s National Institute of Information Technology (ITI), reported cyberattacks have grown significantly in the past few years, with financial and healthcare institutions among the most frequently targeted.
The Brazil market dominated the LAMEA Others Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $52.7 million by 2031. The Argentina market is showcasing a CAGR of 29.3% during 2024-2031. Additionally, the UAE market would register a CAGR of 27.7% during 2024-2031.
Another factor contributing to the growth of the cloud backup market is the increasing reliance on cloud computing for business operations. As organizations shift their IT infrastructure to the cloud, the need for complementary services such as cloud backup becomes more apparent.
Additionally, cloud computing provides numerous benefits, such as the ability to access data as well as applications from any location with an internet connection, cost reductions, and flexibility. However, this reliance on the cloud also requires reliable backup solutions to protect data in case of an outage or failure.
Businesses and governments invest in cloud technologies to protect data, ensure business continuity, and meet increasing regulatory demands. The rapid growth of healthcare, IT, and finance sectors and a rising awareness of cybersecurity threats drive the region’s cloud backup market. As one of the largest economies in Latin America, Brazil has experienced a surge in cyberattacks, including ransomware and data breaches, particularly targeting critical infrastructure and businesses. According to Brazil’s National Institute of Information Technology (ITI), reported cyberattacks have grown significantly in the past few years, with financial and healthcare institutions among the most frequently targeted.
List of Key Companies Profiled
- Acronis International GmbH
- Amazon Web Services, Inc. (Amazon.com, Inc.)
- Asigra Inc.
- Backblaze, Inc.
- Dropbox, Inc.
- IDrive Inc.
- IBM Corporation
- Microsoft Corporation
- Open Text Corporation
- Google LLC
Market Report Segmentation
By Component
- Solutions
- Primary Storage
- Disaster Recovery
- Backup Storage
- Services
By Enterprise Size
- Large Enterprises
- SMEs
By Deployment
- Public Cloud
- Private Cloud
- Hybrid Cloud
By Service Providers
- Cloud
- Managed
- Telecom & Communication
- Others
By End Use
- BFSI
- IT & ITES
- Healthcare
- Retail & E-commerce
- Manufacturing
- Others
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. LAMEA Cloud Backup Market by Component
Chapter 6. LAMEA Cloud Backup Market by Enterprise Size
Chapter 7. LAMEA Cloud Backup Market by Deployment
Chapter 8. LAMEA Cloud Backup Market by Service Providers
Chapter 9. LAMEA Cloud Backup Market by End Use
Chapter 10. LAMEA Cloud Backup Market by Country
Chapter 11. Company Profiles
Companies Mentioned
- Acronis International GmbH
- Amazon Web Services, Inc. (Amazon.com, Inc.)
- Asigra Inc.
- Backblaze, Inc.
- Dropbox, Inc.
- IDrive Inc.
- IBM Corporation
- Microsoft Corporation
- Open Text Corporation
- Google LLC
Methodology
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