Benefits of fast recovery and cost effectiveness are driving the Disaster Recovery as a Service (DRaaS) market
The DRaaS market is expected to grow from USD 2.19 billion in 2017 to USD 12.54 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 41.8% during the forecast period. The DRaaS market is driven by factors, such as benefits of fast recovery, cost effectiveness, and greater flexibility, and automation capabilities and increasing adoption rate among Small and Medium-sized Enterprises (SMEs). However, the issue of adequate site separation between primary and backup site and compatibility concern of certain applications in the cloud environment may restrain the growth of DRaaS market.
The professional services segment is expected to grow at the fastest rate during the forecast period
The professional services segment is expected to grow at the highest rate during the forecast period as these services provide training, education, and consulting, support and maintenance services to end-users. These services enable enterprises to choose the best possible solution and services depending upon the business requirements and deliver cost-effective and backup support for technical queries to prevent any downtime.
North America is expected to hold the largest market share and Asia Pacific (APAC) to grow the fastest
North America is expected to hold the largest market share during the forecast period, as organizations are shifting toward cloud-based solutions and services with the increasing adoption of digital business strategies. Furthermore, organizations have invested heavily on advanced technologies to gain competitive advantage and improve business operations. The APAC region is in the initial growth phase; however, it is the fastest growing region in the global DRaaS market. The key reasons for the high growth rate in APAC include the positive economic outlook in the region, increased spending on Information Technology (IT) infrastructure, and the tendency of DR services to address the operational issues.
The break-up profiles of primary participants are given below:
• By company: Tier 1 – 27%, Tier 2 – 48%, and Tier 3 – 25%
• By designation: C-level – 44%, Director level – 40%, and Others – 16%
• By region: North America – 32%, Europe – 26%, APAC – 20%, Middle East and Africa – 12%, and Latin America – 10%
The key DRaaS vendors profiled in the report are as follows:
1. Amazon Web Services (Washington, US)
2. Cable & Wireless Communications Limited (London, UK)
3. IBM Corporation (Armonk, New York, US)
4. SunGard Availability Services (Pennsylvania, US)
5. Microsoft Corporation (Washington, US)
6. iland Internet Solutions (Texas, US)
7. Infrascale, Inc. (California, US)
8. Bluelock, LLC (Indiana, US)
9. Recovery Point Systems (Maryland, US)
10. Acronis International GmbH (Massachusetts, US)
11. TierPoint, LLC (Missouri, US)
12. Geminare Incorporated (California, US)
The DRaaS market has been segmented on the basis of service types, service providers, deployment models, organization size, verticals, and regions. A detailed analysis of the key industry players has been done to provide key insights into their business overviews, products and services, key strategies, new product launches, partnerships, agreements and collaborations, business expansions, and competitive landscape associated with the DRaaS market.
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the DRaaS market comprehensively and provides the closest approximations of the revenue numbers for the overall market and subsegments across different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes new product launches, partnerships, agreements & collaborations, mergers & acquisitions, and expansions.