Disaster Recovery as a Service Market: Assessment Covering Growth Factors and Upcoming Trends

Market Highlights

Disaster recovery service utilizes cloud computing and storage model to protect data loss during downtime or failures. The global disaster recovery as a service market, as per the analysis offered by Market Research Future (MRFR), is likely to reach a valuation of USD 21 Bn by 2023. The market is anticipated to thrive at 44% CAGR over the forecast period2017 to 2023.

The growing adoption of cloud-based solutions due to their advantage of speedy data recovery is another important factor that is expected to surge the expansion of the global DRaaS market. The reliability, scalability and highly effective security solutions offered by the cloud based DRaaS during any disaster is observed to add momentum to the market growth pace. Other causes that are likely to propel the growth of the DRaaS market are customized tailored services and specialized cloud computing advancements. In some instances, such as IT outrage, severe loss of data is observed. This adversely affects work. Hence, enterprises are gaining popularity in the IT sector. However, other sectors, such as healthcare, government, and retail that generate high volume of data, also require DRaaS to properly maintain and safeguarded data of enterprises, for building work efficacy.

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Segmentation:

The global disaster recovery as a service market is assessed by service type, service provider, deployment, and vertical. By service type, the market is segmented into backup, real time replication, data security, professional services, support & maintenance, training & consulting, and system integration. The professional segment is expected to thrive at the highest CAGR across the assessment period. The backup service segment is likely to gain traction for the DRaaS market owing to benefits of the technology, such as scalability and reliability. It is due to the increase in business requirements, such as support and maintenance, training and consultation, and system integration. By service provider, the market is segmented into a managed service provider, cloud service provider, telecom & communication service provider, and others. By deployment, the market is segmented into private cloud, hybrid cloud, and public cloud. By vertical, the market is segmented into BFSI, manufacturing, manufacturing, government, healthcare, retail, media, it & telecommunication, and others.

Regional Assessment:

The geographical analysis of the global disaster recovery as a service market is covered in this MRFR report on regional and country-level basis. The regional segments profiled in this assessment are – North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). North America is, at present, leading the global market place and is poised to maintain its prominence at the dominant position over the next couple of years. Technological innovations and its early adoption are expected to drive the growth of disaster recovery as a service market in the region over the next couple of years. In addition, the region is set to benefit from the presence of an advanced IT infrastructure. Product innovation being introduced by the key players based out of the region prognosticated to boost market growth in the region in the forthcoming years.

Asia Pacific is anticipated to exhibit the fastest growth rate for disaster recovery as a service market across the forecast period. Increasing investments in the IT industry of the region is projected to lead the regional segment’s growth over the next few years. Also, the rising adoption of technological developments is anticipated to propel expansion of the disaster recovery as a service market over the next few years.

Competitive Dashboard:

Amazon Web Services (U.S.), Microsoft Corporation (U.S.), IBM Corporation (U.S.), Sungard Availability Services (U.S.), Cable & Wireless Communications (U.K.), VMware Inc. (U.S.), Cisco Systems (U.S.), Treo Information Technology (Turkey), HP Enterprises Company (U.S.), and NTT Communications (Japan) are few of the noted players participating in the global disaster recovery as a service market. These participants are estimated to contribute substantially to the development of the global market over the next couple of years. Investments in technological advancements are anticipated to boost the competition in the disaster recovery as a service market in the years to come. In addition, the growth strategies such as mergers & acquisitions, partnerships, collaborations, agreements, etc. are projected to further intensify the competition in the global market place in the years to come. The market is characterized by the participation of international as well as regional players. In order to capitalize on the developmental opportunities, entry of new players is expected, which is set to fuse robust competition in the market over the review period.

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