According to IMARC Group’s latest report, titled “Disaster Recovery as a Service (DRaaS) Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global disaster recovery as a service market reached a value of US$ 5.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 22.8 Billion by 2027, exhibiting a CAGR of 27.84% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Disaster recovery as a service, also called DRaaS, represents a third-party cloud computing and backup service model that recovers and replicates virtual servers and data centers in case of a natural or man-made emergency. The backup is generally made on a cloud, public, virtual private cloud (VPC), or hybrid environment to secure sensitive information of the organization. Disaster recovery as a service offers complete control and support over the network during failures and ensures business continuity by minimizing downtime and disruptions. Consequently, it finds extensive applications in various industries, such as healthcare, manufacturing, banking, financial services and insurance (BFSI), information technology (IT), telecommunication, etc.
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Market Trends
The widespread adoption of cloud-based services and the emerging trend of digitization are primarily driving the disaster recovery as a service market. Additionally, the growing utilization of DRaaS solutions that eliminate the need for a secondary recovery site and provide faster data recovery with minimal complexities is further catalyzing the market growth. Besides this, the rising demand for disaster recovery as a service to test and execute an effective recovery plan is acting as another significant growth-inducing factor. Moreover, the increasing prevalence of cyber-attacks and extensive R&D activities are also positively influencing the global market. Apart from this, numerous technological advancements, such as the introduction of virtual machine inventory, intelligent data replication, and automated testing, are anticipated to fuel the disaster recovery as a service market over the forecasted period.
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List of Key Companies Covered in this Market Report:
- Amazon Web Services
- Bluelock LLC
- C and W Business Ltd
- Geminare Incorporated
- IBM Corporation
- iLand Internet Solutions Corporation
- Infrascale Inc.
- Microsoft Corporation
- Recovery Point Systems Inc.
- Sungard Availability Services LP
- TierPoint LLC
The report has segmented the market on the basis of service type, service provider, deployment model, end-user and geography.
Breakup by Service Type:
- Backup and Recovery Services
- Real-time Replication Services
- Data Protection Services
- Professional Services
- Training, Education, and Consulting Services
- Support and Maintenance Services
Breakup by Service Provider:
- Cloud Service Providers
- Managed Service Providers
- Telecom and Communication Service Providers
- Others
Breakup by Deployment Model:
- Public Cloud
- Private Cloud
- Hybrid Cloud
Breakup by End-User:
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
Breakup by Vertical:
- BFSI
- IT
- Government
- Healthcare
- Manufacturing
- Other
Breakup by Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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