Virtualization is the act of creating a virtual (rather than actual) version of something, including (but not limited to) a virtual computer hardware platform, operating system (OS), storage device, or computer network resources. Virtualization is usually the creation of a system that executes separate from the underlying hardware resources, or the creation of an entire desktop for systems located elsewhere, similar to thin clients.
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Veeam Agent is for bare metal, Veeam B&R is for Virtual Machines.