Disaster Recovery as a Service Market

DRaaS Market was estimated at USD 5,126 Million in 2020 and expected to grow at a 23.7% CAGR during the forecast period.

Introduction of the DRaaS Market Report

DRaaS is a comprehensive third-party service, which uses on-premise and cloud resources to back-up prominent data and applications along with providing system failover to a secondary infrastructure. DRaaS can especially be helpful for small and medium-sized businesses that lack the necessary expertise to configure, provision, and test an effective disaster recovery plan.

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Market Dynamic

Key Drivers and Emerging Trends

The major factors propelling the growth of the global DRaaS market are inclination of various enterprises across the world towards migrating its IT infrastructure to cloud, improvise IT operations, and boost business continuity. Disaster recovery offers an organization a complete system back-up, which enables business continuity in the event of any system failure or downtime. Moreover, computing applications are gaining significance across organizations due to which enterprises are highly investing in their IT infrastructure. Furthermore, DRaaS has been gaining momentum attributed to the enhanced functionality of the growing number of small and medium-sized enterprises. In addition, DRaaS provides huge agility and flexibility to businesses that are highly dependent on service for a major portion of their revenue. These factors are significantly contributing to the growth of the global DRaaS market.

Impact of COVID-19 on the DRaaS Market

During the COVID-19 pandemic, various organizations have adopted the work from home model for the safety of their employees and to maintain operational efficiency, which has substantially augmented the demand for cloud-based solutions. This has encouraged several organizations to enhance their IT infrastructure as well as SMEs are keen to advance the business continuity to sustain in the industry amidst lockdown period. These factors have bolstered the growth of the global DRaaS market.

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Service Type – Segment Analysis

Based on the service type, the backup & restore segment is expected to grow at a higher CAGR over the forecast period. Backup allows the retrieval of duplicate sets in case of data loss during downtime or failures, which include human error, power outages, and natural catastrophes. The need for backup is growing among businesses owing to the increasing amount of data. Backup & restore provides several benefits to enterprises, such as data retention, increased agility, faster deployments, enhanced data protection, and lower costs. Moreover, these solutions ensure the continuity of a business in the event of disasters. These factors are likely to boost the growth of the backup & restore segment in the global DRaaS market.

End-Use Industry – Segment Analysis

On the basis of the end-use industry, the IT & telecommunication segment is anticipated to grow at a faster CAGR over the forecast period owing to the increase in the adoption of cloud services, which provides SMEs various benefits to prevent them from certain disasters. The cloud-based disaster recovery solutions are found in several applications, such as inherent benefit of cost-effectiveness and flexibility. Moreover, cloud-based disaster recovery leads to faster recovery of data, and hence gains the recovery goals of the enterprise. These factors play a crucial role in supplementing the growth of the IT & telecommunication segment in the global DRaaS market.

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Region – Segment Analysis

Based on the region, the North America region is projected to grow at a higher CAGR during the forecast period. Enterprises across the United States are the early adopters of these software to manage business operations and customer care. Moreover, with the increasing number of SMEs, there have been an increase in growth of data centers, which has given an exponential growth in data generation volume. This trend involves robust backup and recovery solutions as disruption of services are resulting in huge losses for the service providers. These factors are significantly contributing to the growth of the DRaaS market in the North America. 

Top Market Players

Various notable players operating in the market include Microsoft, IBM, VMware, Inc, Recovery Point, Iland, Amazon Web Services, Inc., TierPoint, LLC, InterVision Systems, LLC, Infrascale Inc., Acronis International GmbH, among others.

Key Developments

• • In 2020, Microsoft Corporation announced the launch of Microsoft Cloud for the healthcare sector to tackle COVID-19 challenges. The company introduced industry-specific cloud offerings for healthcare organizations to enhance workflow efficiency and streamline interactions.
  • In 2020, VMware, Inc announced the launch of vRealize Operations Cloud, which is a unified operations platform for managing VMware Cloud and multi-clouds. It provides several benefits, which include lowering costs, unplanned downtime, mitigating risks, and delivering faster time to value. 

Segments covered in the Report:

The global DRaaS market has been segmented on the basis of service type, deployment model, end-use industry, and regions. Based on service type, the market is segmented into real-time replication, backup & restore, and data protection. Based on deployment model, the market is segmented into public cloud and private cloud. Based on end-use industry, the market is segmented into BFSI, IT & telecommunication, government & public sector, retail & consumer goods, manufacturing, and others. 

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Key questions answered in this research report:

• • At what pace is global DRaaS market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in DRaaS market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global DRaaS market?
  • Which service type generated maximum revenues in 2020 and identify the most promising service type during the forecast period?
  • What are the various deployment model areas of global DRaaS market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global DRaaS Market by Service Type

• • Real-Time Replication
  • Backup & Restore
  • Data Protection

Global DRaaS Market by Deployment Model

• • Public Cloud
  • Private Cloud

Global DRaaS Market by End-Use Industry

• • BFSI
  • IT & Telecommunication
  • Government & Public Sector
  • Retail & Consumer Goods
  • Manufacturing
  • Others

Global DRaaS Market by Region

• • North America DRaaS Market (Option 1: As a part of the free 25% customization)
    • North America DRaaS Market by Service Type
    • North America DRaaS Market by Deployment Model
    • North America DRaaS Market by End-Use Industry
    • US DRaaS Market All-Up
    • Canada DRaaS Market All-Up
  • Europe DRaaS Market (Option 2: As a part of the free 25% customization)
    • Europe DRaaS Market by Service Type
    • Europe DRaaS Market by Deployment Model
    • Europe DRaaS Market by End-Use Industry
    • UK DRaaS Market All-Up
    • Germany DRaaS Market All-Up
    • France DRaaS Market All-Up
    • Spain DRaaS Market All-Up
    • Rest of Europe DRaaS Market All-Up
  • Asia-Pacific DRaaS Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific DRaaS Market by Service Type
    • Asia-Pacific DRaaS Market by Deployment Model
    • Asia-Pacific DRaaS Market by End-Use Industry
    • China DRaaS Market All-Up
    • India DRaaS Market All-Up
    • Japan DRaaS Market All-Up
    • Rest of APAC DRaaS Market All-Up
  • RoW DRaaS Market (Option 4: As a part of the free 25% customization)
    • RoW DRaaS Market by Service Type
    • RoW DRaaS Market by Deployment Model
    • RoW DRaaS Market by End-Use Industry
    • Brazil DRaaS Market All-Up
    • South Africa DRaaS Market All-Up
    • Saudi Arabia DRaaS Market All-Up
    • UAE DRaaS Market All-Up
    • Rest of world (remaining countries of the LAMEA region) DRaaS Market All-Up

Major Players Operating in the DRaaS (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Microsoft
  • IBM
  • VMware, Inc
  • Recovery Point
  • Iland
  • Amazon Web Services, Inc.
  • TierPoint, LLC
  • InterVision Systems, LLC
  • Infrascale Inc.
  • Acronis International GmbH