The global disaster recovery as a service market has been expected to grow at the CAGR of 41.6% and the revenue has been estimated to grow around $12600 million by 2022 and it is expected to experience robust growth during the year 2016-2022. Disaster recovery is an essential feature now a days for the each and every organization no matter whether it’s large or small. As it is well known that the loss of any data may cause loss of million dollars to any of the organization. So the companies must have the security system to avoid the failures of hardware & disasters to recover them as soon as possible. The disaster security system services (DRaaS) had observed its faster development since the year 2012.
The factors driving the market are fast recovery, high cost effective and high awareness. DR to the cloud can give quick recovery of virtual servers at a part of the cost of traditional DR. Data recovery relies on how quickly one’s need to recover data from an outage, along with the recovery time objective and how much money a person is willing to pay for it. Businesses can also use offsite recovery with a recovery time objective of five to seven days.
The more key factors for the growth of this market are higher flexibility and high growth potential in developing countries. The market is facing some restraints such as minimal plans for disaster recovery in organizations and applications are not universally compatible.
The global disaster recovery as a service market is segmented on the basis of application sector, product, company, and geography. According to application, the market is sub segmented into banking & financial institutions market, government market, telecommunication & IT market etc. On the basis of application, the banking and financial institutions market has the largest market by approximately 33% of whole revenue generated in 2013. The financially and economically critical nature of data/information in the banking, financial services and insurance (BFSI) market, needs urgent backup plans for restricting losses, has been estimated to enhance demand for DRaaS in this market during the forecasted period as well.
On the basis of product, the market is sub segmented into software market, hardware market, servers market, switches/routers market and others market. Software market is further sub segmented into RaaS platform market and hardware is further sub segmented into storage market, TB and below market, TB and 10 TB market, 10 TB and above market. According to product, the software components hold about 60.8% of the whole earnings occupied by the market in 2013. Entrance of new software service vendors from around the world in the DRaaS segment has been estimated to enhance the competition very high in the software market in near future. On the basis of company, the market is sub segmented into small companies, mid-sized companies and large companies. According to company size, large companies have the largest market share as they have higher investments and better plans.
On the basis of geography, Europe, Asia Pacific North America, and ROW are the major segments of this global disaster recovery as a service market. North America is the leader in the disaster recovery as a service market due to increasing adoption of DRaaS solutions in small, mid-sized and large companies. North America holds approximately 35% of the global market in 2013. The market in Asia Pacific has been expected to attain rapid growth during the forecast period due to rising awareness and all types of companies in the region. On account of new opportunities in countries such as Argentina, Mexico, Brazil, Venezuela, Colombia and the Caribbean region. In Latin America, DRaaS market has been estimated to grow at a CAGR of 36% during the forecasted period. Some of the major players of the market include Amazon.Com, Cisco Systems Inc., IBM Corporation, VMware Inc., Zerto ltd, NTT Communications Corporation, Acronis international Gmbh etc.