Disaster Recovery as a Service (DRaaS) Market Size – USD 5,042.4 million in 2020, CAGR of 22%, Market Trends – Rapid adoption of cloud-based solutions.
NEW YORK, NY, USA, May 6, 2022 /EINPresswire.com/ — The disaster recovery as a service (DRaaS) market is driven by increased automation capabilities and flexibility.
The global disaster recovery as a service (DRaaS) market is expected to reach USD 25.29 billion by 2028, according to a new report from Reports and Data. Disaster Recovery as a Service (DRaaS) is a backup service and cloud computing model that uses cloud resources to protect data and applications from disruption caused by a disaster. DRaaS provides an organization with a backup system that enables business continuity in the event of system failure.
DRaaS is also known as Business Continuity as a Service (BCaaS) and comes with a Business Continuity Plan (BCP) or Disaster Recovery Plan (DRP). DRaaS provides full replication and backup of all cloud data while serving as a secondary infrastructure. It allows an organization to continue its day-to-day business processes while the existing one undergoes repair. DRaaS allows these applications to run on virtual machines without any real disaster.
North America led the market with a share of 32.1% in 2026. The United States has been at the forefront as early adopters of the latest technology and software to manage customer service. The region has been leading the global market owing to high awareness and high demand for the implementation of recovery-as-a-service providers.
Main participants Bluelock, IBM, lland, Microsoft, Infrascale, NTT Communications, Tierpoint, Amazon Web Services, Acronis and Sungard AS, among others.
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Other key findings from the report suggest
• The backup and recovery segment dominated the service type segment as they are cost-effective, secure, reliable, automated and scalable solutions for businesses and ensure business continuity in the event of an event. The segment held a market share of 38.7% in 2018.
• Small and medium enterprises held a market share of 33.2% in 2026. Most SMBs cannot afford the IT infrastructure needed to protect their data. They are rapidly adopting the DRaaS cloud computing model to ensure the security of their data.
• The emergence of the public cloud has brought several benefits to business and IT, including reduced innovation costs, better utilization of capital expenditures, and flexible resources. They are true for developing a disaster recovery strategy for the business. Public cloud providers such as Microsoft Azure, Amazon, and Google Cloud offer DRaaS through partners and may also offer themselves.
• The primary benefit of cloud-based DRaaS is its ability to quickly failover applications, reconnect users via Remote Desktop Protocol (RDP) or VPN, and orchestrate failover to rebuild servers in the data center of the customer. Cloud service providers are expected to grow with a CAGR of 42.1% over the forecast period.
• The disaster-as-a-service (DRaaS) market has seen maximum adoption by the BFSI segment. One of the advantages of DRaaS in the BFSI industry is that they don’t have to maintain their own data center. The customer relationship is crucial and providing uninterrupted services builds customer loyalty. Disaster preparedness is crucial to day-to-day bank operations, brand loyalty and retention.
• Asia-Pacific is expected to grow with a CAGR of 42.2% over the forecast period. The emerging trend of startups and enterprises going digital is one of the market drivers in the region. Strong growth in countries like China and Japan is also propelling the growth of the market.
To identify key industry trends, click the link below: https://www.reportsanddata.com/report-detail/disaster-recovery-as-a-service-draas-market
For the purposes of this report, the reports and data have segmented the global disaster recovery as a service (DRaaS) market on the basis of service type, service provider, organization size, mode deployment, vertical sector and region:
Service Type Outlook (Revenue: USD Billion; 2018-2028)
• Backup and recovery
• Data protection
• Real-time replication
• Professional services
Service Provider Outlook (Revenue: USD Billion; 2018-2028)
• Managed Service Providers
• Cloud service providers
• Telecommunications Service Providers
Organization Size Outlook (Revenue: USD Billion; 2018-2028)
• Small and medium enterprises
• Large companies
Deployment Mode Outlook (Revenue: USD Billion; 2018-2028)
• Private cloud
• Public cloud
• Hybrid cloud
Industry Vertical Outlook (Revenue: USD Billion; 2018-2028)
• Media and Entertainment
• Retail and consumer goods
• Health care
• IT and Telecommunications
• Government and public sector
Regional Outlook (Revenue: USD Billion; 2018-2028)
• North America
• Asia Pacific
• Latin America
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Key Benefits of Disaster Recovery Report as a Service (DRaaS):
• Identification and analysis of market size and competition
• Qualitative and quantitative analysis of market data
• Data validated by industry experts after extensive primary and secondary research
• In-depth regional analysis of the Disaster Recovery as a Service (DRaaS) industry
• Profiling of key players with their company overview, business strategies, agreements and partnerships, and product portfolio
• SWOT analysis and Porter’s five forces for an in-depth understanding of the competitive landscape
• Feasibility analysis and investment analysis to enable strategic investment decisions
• Analysis of opportunities, drivers, constraints, challenges, risks and limitations
In conclusion, all aspects of the Disaster Recovery as a Service (DRaaS) Market are quantitatively as well qualitatively assessed to study the Global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market based on market drivers, limitations and its future prospects.
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