Organizations are adopting digital transformation quickly, which is fueling demand for more scalable and economical backup and recovery solutions. Through a network or internet connection to a real or virtual backup server, typically run by a business, hosting provider, or cloud services provider, cloud backup offers a backup solution for the data and apps. Digital banking and investing solutions are being quickly adopted by the banking sector, which is increasing demand for Cloud Backup Market in the BFSI sector. It gives businesses in the sector better business agility and scalability. In order to bring innovation, customisation, and security and gain a competitive edge, many financial sector businesses are converting to cloud solutions.