Disaster Recovery as a Service (DRaaS) Market - Forecasts from 2018 to 2023
Disaster recovery as a service (DRaaS) market is projected to grow at a CAGR of 17.29% during the forecast period to reach a market size of US$3,294.361 million in 2023 from US$1,265.158 million in 2017. Disaster recovery as a Service, also known as DRaaS, is a cloud-based service which protects companies from losing their critical data at the time of an eventuality. It is a process in which physical or virtual servers are hosted and replicated by an outside entity in order to provide backup process, where functions of a system are assumed by secondary system components as primary components become inaccessible, in the case of any hazard. Disaster Recovery as a Service strives to reduce downtime as well as any disruptions caused to the client, customers and other stakeholders of a business in the event of disasters. Disaster Recovery Services solutions provide more than data recovery protection services as they can replicate various infrastructures and applications of business processes in the organization and ensure optimum continuity of operations of a business. DRaas, for data recovery, can be employed in every organization whether it is small, medium or large without having any requirement of necessary expertise to configure and monitor a disaster recovery plan.
The global market for DRaaS is driven by the necessary requirement of backup services for organization’s data. Moreover, DRaaS is a fast recovery solution, cost effective and offers flexibility. It also offers automation capability service which enables optimum utilization of resources at low cost ensuring smooth flow of operations through its automated capabilities and enables scalable, reliable and secure solutions to the enterprises. The rate of implementation of these services in small and large enterprises alike is growing rapidly, thereby propelling the demand for these solutions. However, compatibility of specific applications in the cloud environment and dependence on DRaaS provider to implement the solution in the right manner and meet the desired objectives are some of the factors impeding the market growth.
Geographically, North America region presents good growth opportunities for DraaS solution providers on account of surge in adoption of new and emerging technologies and huge investments by the enterprises in cloud-based solutions.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the DRaaS value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the market.
Major industry players profiled as part of the report are Amazon Web Services, Inc., Veeam® Software, Bluelock Privacy, Zerto, Windstream Communications, Verizon, Sungard Availability Services, Infrascale Inc., IBM, and Dell.
By Deployment Model
By Enterprise Size
By End User Industry
Communication and Technology
Middle East and Africa