The global market for disaster recovery as a service (DRAAS) is anticipated to expand at a CAGR of 44.85 % during the forecast period of 2017-2024. An increase in the adoption of cloud technology is one of the primary market drivers in the disaster recovery as a service industry.
The global disaster recovery as a service (DRAAS) market is segmented on the basis of company, services types, application sector, deployment model, and geography. The DRAAS market by company is segmented into large companies, mid-size companies, and small companies. The DRAAS market by application sector is segmented into banking and financial institutions, telecommunications and IT, e-commerce and retail, media and entertainment, healthcare, government organization, education, manufacturing, transportation and logistics and other market. The DRAAS market by services type is segmented into backup services, real-time replication services, data security and professional services. The DRAAS market by deployment model is segmented into To cloud DRAASS, In cloud DRAAS and From cloud DRAAS. The DRAAS market on the basis of geography is segmented into Asia-Pacific, Europe, and North America. The rapid recovery due to DRAAS, increased adoption of cloud technology, increase in the support from the government, rising demands from emerging economies and awareness of the consequences are the driving factors responsible for the growth of DRAAS market.
North America accounts for the largest market share in the global DRAAS market. The cloud adoption is the primary market driver for the proliferation of DRAAS market. Asia- Pacific is projected to account for a rapid growth of DRAAS industry during the forecast period. Europe holds the second largest market share in the global DRAAS market. The loss of data, investment in disaster risk reduction and flexible hybrid DRAAS solutions drives the market growth in these regions.
The major market players for the global DRAAS market are Amazon.com Inc., Geminare Incorporated, Cisco Systems, Inc., IBM Corporation, Microsoft Corporation, VMware, Inc., Jive, SAP SE, Columbus Business Solution/Cable & Wireless Communications Plc., NTT Communications Corporation, iland Internet Solutions Corporation, Sungard Availability Services (AS), Hewlett-Packard Company, Zerto Ltd., and Rackspace Hosting Inc.