The North America Cloud Backup Market would witness market growth of 23.3% CAGR during the forecast period (2024-2031).
The US market dominated the North America Cloud Backup Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $5.79 billion by 2031. The Canada market is experiencing a CAGR of 25.8% during 2024-2031. Additionally, the Mexico market would exhibit a CAGR of 24.9% during 2024-2031.
The growing adoption of hybrid cloud environments contributes to expanding the cloud backup market. Hybrid cloud environments combine public cloud services with on-premises infrastructure, offering businesses greater flexibility and control over their data.
Moreover, cloud backup solutions are well-suited to hybrid environments, as they can integrate with both cloud and on-premises systems to provide a comprehensive backup strategy. This is especially advantageous for organizations that wish to preserve sensitive data on-premises while simultaneously leveraging the cloud's cost savings and scalability for less critical data.
With many businesses shifting to digital platforms, the demand for secure and scalable cloud backup solutions has surged across the region. Governments in North America have implemented regulations that mandate robust data protection practices, further accelerating the adoption of cloud backups. In the United States, the growing cybersecurity concerns have been a major driver of cloud backup adoption. The increasing frequency of cyberattacks, including ransomware and data breaches, has pressured businesses to invest in robust data protection strategies. According to the Federal Bureau of Investigation (FBI), cybercrime incidents reported to the Internet Crime Complaint Center (IC3) reached over 880,418, with a cumulative loss of 12.5 billion USD in 2023.
The US market dominated the North America Cloud Backup Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $5.79 billion by 2031. The Canada market is experiencing a CAGR of 25.8% during 2024-2031. Additionally, the Mexico market would exhibit a CAGR of 24.9% during 2024-2031.
The growing adoption of hybrid cloud environments contributes to expanding the cloud backup market. Hybrid cloud environments combine public cloud services with on-premises infrastructure, offering businesses greater flexibility and control over their data.
Moreover, cloud backup solutions are well-suited to hybrid environments, as they can integrate with both cloud and on-premises systems to provide a comprehensive backup strategy. This is especially advantageous for organizations that wish to preserve sensitive data on-premises while simultaneously leveraging the cloud's cost savings and scalability for less critical data.
With many businesses shifting to digital platforms, the demand for secure and scalable cloud backup solutions has surged across the region. Governments in North America have implemented regulations that mandate robust data protection practices, further accelerating the adoption of cloud backups. In the United States, the growing cybersecurity concerns have been a major driver of cloud backup adoption. The increasing frequency of cyberattacks, including ransomware and data breaches, has pressured businesses to invest in robust data protection strategies. According to the Federal Bureau of Investigation (FBI), cybercrime incidents reported to the Internet Crime Complaint Center (IC3) reached over 880,418, with a cumulative loss of 12.5 billion USD in 2023.
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
- US
- Canada
- Mexico
- Rest of North America
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. North America Cloud Backup Market by Component
Chapter 6. North America Cloud Backup Market by Enterprise Size
Chapter 7. North America Cloud Backup Market by Deployment
Chapter 8. North America Cloud Backup Market by Service Providers
Chapter 9. North America Cloud Backup Market by End Use
Chapter 10. North America 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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