Latest Market intelligence report released by MarketDigits with title “Global Disaster Recovery-as-a-Service Market Research Report with Opportunities and Strategies to Boost Growth- COVID-19 Impact and Recovery” is designed covering micro level of analysis by manufacturers and key business segments. The Global Disaster Recovery-as-a-Service Market survey analysis offers energetic visions to conclude and study market size, market hopes, and competitive surroundings. The research is derived through primary and secondary statistics sources and it comprises both qualitative and quantitative detailing. Some of the key players profiled in the study are IBM Corporation, iLand Internet Solutions Corporation, Recovery Point Systems Inc., Bluelock LLC, Sungard Availability Services LP.
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According to MarketDigits, the global DRaaS market is anticipated to grow by 24.6% CAGR during the forecast period from the year 2020 to 2026.
An increasing number of organizations around the world are adopting digitization. Surging pool of businesses on cloud is in turn fuelling the demand for demand for disaster recovery as-a-service market (DRaaS). Due to its flexibility and cost-effectiveness, DRaaS solutions are widely used in diverse sectors such as banking, financial services and insurance (BFSI), IT & telecommunication, healthcare, and others.The increasing disposable income of consumers across high potential markets, coupled with digital advancement around the world has led to versatile usage of internet technologies such as cloud technologies and others. With this, cases of cybercrimes have risen as well, aiding the growth of the market.
Advancements in data storage and replication technologies and overall expansion of the telecommunication sector are enabling a larger number of enterprises access to cost-effective resilience solutions for critical business functions. This too is forecast to have a considerable impact on the market for DRaaS
With key end-use industries such as BFSI, IT sector, telecommunication, and others are expanding their infrastructure with time, the demand for DRaaS solutions is sky-rocketing, creating lucrative prospects for players such as IBM, Microsoft, Sunguard, and others.
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Demand for Improving Resilience of Enterprises Bolstering Growth
The rising adoption of advanced resilience solutions by smaller companies as well as large enterprises is continuously accelerating the DRaaS market growth. In order to minimize planned outages, enterprises require server virtualization and cloud computing solutions as those are capable of moving the applications in temporary storage spaces during the time of recovery testing, firmware upgrade, and system maintenance.
Besides this, in order to minimize the unplanned outages, various cloud computing services such as backup as-a-service, storage as-a-service, software as-a-service, replication services, and others are getting popular as an integral part of business computing planning.
According to MarketDigits, the demand for advancement in enterprises resilience solutions are forecast to accelerate the global market growth in the coming years.
DRaaS solutions need experts for handling and service providing. Also, the knowledge of cyber threats & security, risk management, and others is mandatory as crucial and confidential data is handled, replaced, and recovered during the DRaaS process. Lack of trained professionals may work as constraints slowing down market demand.
Due to the outbreak of novel coronavirus in the current year, various factors such as economic constraints, travel restrictions, job recession, and others have declined the market growth. As the professionals are working remotely, the cyber-attacks and crimes have increased even more making the work challenging.
Despite facing a few restraining factors due to COVID-19 pandemic, the global Disaster Recovery-as-a-Service Market holds unlimited potential worth exploring by the key market players.
According to MarketDigits, the global DRaaS market will be fully back to its position by the first quarter of 2021.
Recovery & Backup Services to Remain Dominant
With advancements in banking, financial, telecommunication, and other sectors, there has been surge in recovery and back up services among these diverse range of industries.
As most of the enterprises require cost-effective solutions for fast and secure recovery rate, the recovery and backup services are being widely popular around the globe.
It is very crucial to recover significant and confidential data lost due to technical disasters or cyber-attacks. In the other hand, keeping the back-up of data is needed very frequently during system maintenance, upgrade, or other procedures. Due to these reasons, the recovery and back up services segment is playing the leading role in service type segments.
According to MarketDigits, the recovery and back up services segment is expected to grow further during the forecast period.
Cloud Service Provider to Gain Traction
Cloud disaster recovery or cloud DR is a set of strategies and services developed in order to back up data, resources, applications, and others to public cloud or dedicated service providers.
Being extremely useful as well as cost effective in restoring affected data, applications, and other important informations affected during the disasters, the cloud services solutions are hugely demanded all over the world.
Being the central element of business continuity, it is rapidly taking the most dominating place in the service providers segment.
According to MarketDigits, cloud service provider will sustain as the leading service provider during the coming years.
Public Cloud to Maintain the Lead
Public cloud is hugely preferred by the various industries starting from telecommunication to healthcare, due to its hassle-free mechanisms and optimized cost.
Public cloud platform uses standard cloud computing model in order to develop multiple resources such as virtual machines, applications, memories, and others helping the remotely working users. Due to its scalability to handle work load and capability to minimize wastage of resources, public cloud is most desired segment in the deployment-wise category.
According to MarketDigits, public cloud deployment will remain in the leading position during the forecast period.
Companies operating in the market are witnessing cut-throat competition. In order to gain competitive advantage a majority of them are relying on innovations and technological developments. There is ample focus on making DRaaS solutions more accessible. Steered by this, some of the leading companies are launching advanced solutions at competitive prices.
For instance, Axcient has released their extensive set of DRaaS solutions with reduced cost which eliminate the hardware, software licensing, hosting and maintenance costs associated with running a VMware disaster recovery site.
Citrix has launched their exclusive ‘Citrix Virtual Apps and Desktops- Disaster Recovery Planning’ covering the requirements from broad range of end users starting from BFSI to healthcare.
Sunguard has launched their exclusive Sunguard AS colocation services in order to provide a privately-owned, state-of-the-art data center with space to develop customized IT environment.
Microsoft has come up with ‘Azure Site Recovery’ offering native disaster recovery (DR) solution running on virtual machines. Microsoft Azure is the first public cloud to offer such service.
As the global DRaaS market growth is increasing exponentially, the key market players are getting stronger to give tough competition in the coming years.
Some of the key market players are-
- Amazon Web Services
- NTT Communication
- Cable & Wireless Communication
- TirePoint LLC
- Bluelock LLC
- Recovery Point Systems
- Cisco Systems
*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report
Major Classifications are as follows:
Disaster Recovery-as-a-Service Market: By Deployment Model
- Public Cloud
- Private Cloud
Disaster Recovery-as-a-Service Market: By Service-Type
- Backup and Recovery
- Data Protection
- Real-time Replication
Disaster Recovery-as-a-Service Market: By Service-Provider
- Telecom and Communication Service Providers
- Managed Service Providers
- Cloud Service Providers
Disaster Recovery-as-a-Service Market: By Industry Vertical
- Telecommunication and ITES
- Media and Entertainment
- Healthcare and Life Sciences
Disaster Recovery-as-a-Service Market: By Geography
- North America
- South America
- Rest of the World
The large scale Disaster Recovery-as-a-Service Market report is a thorough and professional report that focuses on primary and secondary drivers, market share, leading segments & geographical analysis. These calculations will provide estimations about how the Disaster Recovery-as-a-Service Market is going to perform in the forecast years by informing what the market definition, classifications, applications & engagements are. 2020 is the base year while 2019 is the historic year for calculation in the report. Being an excellent in quality, this market research report gains customer confidence and trust. The global Disaster Recovery-as-a-Service Market research report takes into account key product developments and tracks recent acquisitions, mergers & research in the industry by the top market players.
Key Questions Answered by the Report
- At what CAGR is the DRaaS market expected to grow?According to MarketDigits, the DRaaS market is anticipated to grow by 24.6% CAGR during the forecast period from year 2020 to 2029.
- Which is the largest market for DRaaS?At present, region-wise North America is the largest market followed by Latin America and Europe.
- Which are the top companies in DRaaS market?Some of the top companies in global DRaaS market are Amazon Web Services, Axcient, Citrix, IBM, Sunguard, and others.
- Which is the most lucrative segment among service type of DRaaS?Presently, recovery & backup services segment is the most lucrative segment by service type of the DRaaS market and expected to maintain the lead throughout the forecast period.
- Which is the most lucrative segment in terms of service providers in DRaaS market?Cloud service provider is the most lucrative segment in service provider type segments in the global DRaaS market.
- Which region is subject to the highest growth in the global DRaaS market?According to MarketDigits, East Asia DRaaS market is expected to exhibit highest growth during the forecast period.
- Which end-use industry is most dominating in the global DRaaS market?Presently, BFSI industry is most dominating in the global DRaaS market.
Report on (2020-2027 Disaster Recovery-as-a-Service Market Report) mainly covers 12 sections acutely display the global market:
Chapter 1: To describe Disaster Recovery-as-a-Service Introduction, product scope, market overview, market opportunities, market risk, market driving force.
Chapter 2: To analyze the top manufacturers of Disaster Recovery-as-a-Service, with sales, revenue, and price of Disaster Recovery-as-a-Service, in 2010 and 2020.
Chapter 3: Disaster Recovery-as-a-Service, to display the competitive situation among the top manufacturers, with sales, revenue and market share in 2016 and 2020.
Chapter 4: To show the global market by regions, with sales, revenue and market share of Disaster Recovery-as-a-Service, for each region, from 2016 Disaster Recovery-as-a-Service to 2020.
Chapter 5, 6, 7, 8 and 9 To analyze the market by countries, by type, by application and by manufacturers, with sales, revenue and market share by key countries in these regions.
Chapter 10 and 11 To show the market by type and application, with sales market share and growth rate by type, application, from 2014 Disaster Recovery-as-a-Service to 2020.
Chapter 11 Disaster Recovery-as-a-Service market forecast, by regions, type and application, with sales and revenue, from 2020 to 2027 Disaster Recovery-as-a-Service.
Chapter 12: To describe Disaster Recovery-as-a-Service sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source.
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