Cloud Backup Market Share

North American Market Forecast

The North America cloud backup market is expected to hold the larger share with a revenue of USD 27.6 billion by the end of 2035. North America, notably the U.S. is one of the most technologically distinctive countries, with an advanced industrial infrastructure. According to U.S. News & World Report, a U.S.-based media company, the U.S. serves as the most innovative country in North and Central America. Furthermore, the region has a strong presence of major IT players or service providers, along with the cloud providers and data centers located there. Such technological competence allows for the development and adoption of cloud backup solutions more rapidly than in other regions.

European Market Statistics

The Europe cloud backup market is estimated to be the second largest, registering a revenue of USD 18.8 billion by the end of 2035. The growth of the market can be attributed majorly to the use of cloud services in the region. Between the years 2020 and 2021, the adoption of cloud services has increased by around 5% in Europe. Moreover, 75% population in Sweden and Finland are using cloud services. Furthermore, many governments of European countries have invested significantly in the adoption of cloud computing in the IT sector.