Disaster Recovery as a Service (DRaaS) is the imitation and hosting of objective or practical servers by a third-party to provide failover in the event of man-made or natural disaster. It can be especially useful for small to mid-size businesses that lack the necessary expertise to provision, configure and test an effective disaster recovery plan. DRaaS provides business continuity by entitling data backup, recovery, and retrieval. It can help companies to record business decisive data files during the occurrence of natural calamities: floods, hurricanes, tornados, or sudden and unexpected system failure.
DRaaS have offered a viable solution to achieve efficient and effective disaster recovery in various application sectors. The key factors driving the growth and development of the market are faster recovering, greater flexibility, automated, cost effective and simpler testing. Rising worldwide enterprise IT spending across the application has determined the growth of the Disaster Recovery market. Moreover, ability to economically protect all applications with cloud-based disaster recovery boosts DRaaS market growth. Lack of Monitoring and Complexity of Deployment are the major challenges faced by Disaster Recovery as a Service market. Further, the declining cost of backup storage and outsourcing services are hindrance for market development.
The Disaster Recovery as a Service is projected to grow at a compound annual growth rate (CAGR) of 46.78 from 2015 to 2020.
The global Disaster Recovery as a Service categorized by solution types such as real time replication, DR planning and testing, data security and backup solution and compliance. Further, the market is segmented by vertical such as BFSI, government, retail, healthcare, transportation & logistics, education, telecommunication and Information Technology (IT), manufacturing, media and entertainment, and others.
The global disaster recovery as a service market consists several products such as Backup Solution, Data Security and Compliance, Disaster Recovery Planning and Testing, and others.
The global disaster recovery as a service key market players include CA Technologies , Geminare, HP, IBM, SunGard Data Systems, Microsoft Corporation, Amazon Web Services, Nexica, Recovery Point Systems, and others.