"China is a fantastic market and has been a very good market for Veeam. We are doing our best to maintain our presence in the country," CEO Bill Largent said.

"There is a tremendous amount of companies and businesses there, and definitely a lot of need for data backup and protection."

Largent's remarks came during VeeamON 2021 conference, which was recently held online. It is an event demonstrating the company's innovations and future outlook, including upcoming updates to its single platform to protect and manage all workloads.

"Over the past 18 months, Veeam enjoyed its most prolific product launch period, bringing to market more than 20 new offerings and updates for Veeam Backup for Microsoft Azure, AWS and Microsoft Office 365," said Danny Allan, chief technology officer and senior vice president of product strategy at Veeam.

He noted in the first quarter of this year alone, the company moved more than 100 petabytes of data into its top three cloud object storage providers, compared to 242 PB in all of 2020.

"We are continually innovating and know customers are looking to protect their data across multi-cloud environments to ensure every piece of data and workload is safe, secure and easily recoverable no matter where they reside," he added.

According to IDC, Veeam has moved into second place for market share of data replication and protection in the second half of last year.