Disaster Recovery-as-a-Service Market : Key Players, Applications, Outlook, SWOT Analysis And Forecasts 2022 to 2030

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The market for disaster recovery-as-a-service (DRaaS) is seeing exponential growth due to the rise in cybercrime incidents in recent years. A mind-boggling amount of data is produced each day, driven by the internet's quick uptake and rising digitization. This has also resulted in an

The market for disaster recovery as a service is currently estimated to be worth USD 75.22 billion in 2030 and is anticipated to grow at a robust 24.8% CAGR from 2022 to 2030.

The market for disaster recovery-as-a-service (DRaaS) is seeing exponential growth due to the rise in cybercrime incidents in recent years. A mind-boggling amount of data is produced each day, driven by the internet's quick uptake and rising digitization. This has also resulted in an increase in dangers, particularly the potential of cyberattacks.

The market for disaster recovery as a service is expanding due to its adaptability and affordability. When utilised in the cloud, DRaaS can rapidly compute and store data, which is why it is frequently employed to speed up the capabilities of many different organisations.

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The market is anticipated to continue expanding throughout the projected period, despite some challenges brought on by the COVID-19 pandemics, such closed production facilities, travel restrictions, nonoperational working units, and others.

The demand for DRaaS is expected to increase further in the upcoming years because to its advantages over conventional services, which include no space restrictions, quick recovery times, and others.

The leading market players, including Amazon Web Services, Axcient, Citrix, IBM, Microsoft, Sunguard, and others, are approaching strategic strategies to excel as the global industry rivalry is anticipated to worsen.

Some of the key takeaways from the report are highlighted below-

  • The extensive flexibility of the DRaaS market, is catering to the market growth
  • As DRaaS market is capable of providing cost-effective solutions, it is gaining rapid popularity across the world
  • Advancement of digitization is projected to further market growth during the upcoming years
  • Managed service provider segment among service providers is expected to forecast growth at a higher rate among forecast period. Managed service providers offer DRaaS solutions that are designed to duce the burden of data protection and data security among organizations
  • Public cloud segment is expected to dominate in terms of deployment. By the end of 2020, it is expected to account for over 49% of the global market

COVID-19 Impact Analysis on Disaster Recovery as-a-Service Market

With COVID-19 tightening its noose around the world, organizations are compelled to incorporate work from home policies to ensure safety of their employees. To ensure hassle free operations even while employees work remotely, these organizations are offering various cloud-based solutions and VPN to enable easy access to information.

Business continuity and disaster recovery plans are tested by challenges such as travel restrictions, and remote working. According to survey by Mercer Business only 17% of organizations had a business continuity plan and are ready for impact of COVID-19 and 51% had no business continuity plan. Consequently, the adoption of DRaaS solutions is likely to surge by 27% to 29% between 2019 and 2020.

Who is Winning

As the global DRaaS market growth is accelerating rapidly, the key market players such as Amazon Web Services, Axcient, Citrix, IBM, Microsoft, NTT Communication, and others are adopting various strategies and increasing their investment towards technological advancements to gain competitive edge.

For instance, Sunguard has launched their advanced disaster recovery (DR) program which provides complete business resilience across cloud and physician IT. They have also brought their self-service along with application recovery, fully operational computing systems, and network capability.

IBM has launched their Resiliency DRaaS in order to enable rapid and reliable recovery of business-critical applications, and data within minutes on an outage. In the Forrester Wave™ report Q2 2019, IBM named leader in DRaaS.

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More Valuable Insights on Disaster Recovery as-a-service Market

In the latest report by Future Market Insights, we offer a thorough, unbiased analysis of the global disaster recovery as-a-service market, providing historical data for the period of 2015-2019 and forecast statistics for the period of 2022-2030.

Disaster Recovery-as-a-Service Industry Survey

Disaster Recovery-as-a-Service Market by Service Type:

  • Recovery Backup Services
  • Data Protection Services
  • Real-time Replication Services
  • Professional Services
  • Managed Services

Disaster Recovery-as-a-Service Market by Service Provider:

  • Cloud Service Providers
  • Telecommunication Service Providers
  • Managed Service Providers

Disaster Recovery-as-a-Service Market by Deployment:

  • Public Cloud
  • Private Cloud
  • Hybrid Cloud

Disaster Recovery-as-a-Service Market by Enterprise Size:

  • Small- and Medium-sized Enterprises (SMEs)
  • Large Enterprises

Disaster Recovery-as-a-Service Market by Industry:

  • BFSI
  • IT Telecommunication
  • Retail Consumer Goods
  • Government
  • Healthcare
  • Media Entertainment

Disaster Recovery-as-a-Service Market by Region:

  • North America Disaster Recovery-as-a-Service Market
  • Latin America Disaster Recovery-as-a-Service Market
  • Europe Disaster Recovery-as-a-Service Market
  • East Asia Disaster Recovery-as-a-Service Market
  • South Asia Pacific Disaster Recovery-as-a-Service Market
  • Middle East Africa (MEA) Disaster Recovery-as-a-Service Market

 

 

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