What is Disaster Recovery-as-a-Service (DRaaS) Market?
Disaster recovery as a service (DRaaS) is a cloud storage service model that enables an enterprise to back up its data and IT infrastructure in a third-party cloud computing environment and offers all DR orchestration, all via a SaaS solution, to restore access and functionality to IT infrastructure after a disaster. Because of the demand for backup data, the Disaster Recovery as a Service (DRaaS) market is booming. Other factors that contribute to market growth include computer applications and cloud technology as a result of technological advances. Furthermore, the increase in small and medium businesses, as well as the benefits associated with cost-effectiveness and data recovery, are factors that are having a positive impact on market growth.
The market study is being classified and major geographies with country level break-up.
Microsoft (United States), IBM (United States), VMware (United States), Recovery Point (United States), Sungard Availability Services (United States), InterVision (United States), AWS (United States), TierPoint (United States), Infrascale (United States), Acronis (Switzerland), Axcient (United States), C&W Communications (United Kingdom), Carbonite (United States) and Daisy (United Kingdom) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Databarracks (United Kingdom), Datto (United States), Evolve IP (United States) and Expedient (United States).
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Disaster Recovery-as-a-Service (DRaaS) market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Disaster Recovery-as-a-Service (DRaaS) market by Type, Application and Region.
On the basis of geography, the market of Disaster Recovery-as-a-Service (DRaaS) has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Reducing Operational Cost and Fast Recovery of Data
- Growing Need for the Backup Data
Market Trend
- Increasing Adoption of Cloud-Based Application across the IT Sector
Restraints
- Complexity of Deployment and Setting Terms
Opportunities
- Emergence of AI and ML in DRaaS Solutions
- Rising Demand for Advancement in Enterprises Resilience Solutions
Challenges
- Security and Compliance in Cloud Environments
Market Leaders and some development strategies
In July 2018 - Sirius Computer Solutions Inc. and Recovery Point Systems Inc. expanded their partnership to offer a set of packaged, multiplatform Disaster Recovery-as-a-Service (DRaaS) solutions.
In May 2020, Microsoft has announced the launch of the Back2Business Solution Boxes for helping Indian small and medium businesses (SMBs) maintain business continuity and embark on their cloud adoption journeys.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analyst and Strategic Business Planners, Disaster Recovery-as-a-Service Providers, Government Regulatory and Research Organizations and End-Use Industries