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Technavio’s research analyst predicts the global cloud backup and recovery software market to grow at a CAGR of 13% during the forecast period. Cloud backup or online backup is a method of backing up data and involves sending a copy of the data over a public or proprietary network to an off-site server. The cloud backup and recovery software plays an essential part in intelligent business continuity strategy. The added benefits of security, storage, savings, and virtualization ease the transition to a hybrid cloud solution for enterprises and alleviate data security concerns related to cloud computing.