The global disaster recovery as a service market reached a value of US$ 5.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 22.8 Billion by 2027, exhibiting a CAGR of 27.84% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
DRaaS refers to a third-party cloud computing and backup service model that replicates and recovers virtual servers and data centers in case of a natural or man-made emergency. The backup is usually made on a public, cloud, virtual private cloud (VPC) or hybrid environment to secure sensitive information of the organization. It offers complete support and control over the network during failures and ensures business continuity by minimizing downtime and disruptions. Owing to these benefits, it finds extensive applications across the banking, financial services and insurance (BFSI), healthcare, manufacturing, information technology (IT) and telecommunication industries.
The emerging trend of digitization, along with the increasing adoption of cloud-based services across industries, is one of the key factors driving the growth of the market. There is widespread utilization of DRaaS solutions that eliminates the need for a secondary recovery site and offers faster data recovery with minimal complexities. Furthermore, increasing awareness regarding cloud-based backup, along with recovery benefits among both small- and medium-sized organizations, is also providing a boost to the market growth. These organizations frequently use DRaaS to test and execute an effective disaster recovery plan. Additionally, several technological advancements, such as the introduction of intelligent data replication, virtual machine inventory and automated testing, are also favoring the market growth. These advancements enable users to be aware of application changes and run automated tests in protected virtual environments. Other factors, including the rising instances of cyber-attacks and extensive research and development (R&D) activities, are projected to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global disaster recovery as a service market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on service type, service provider, deployment model, end-user and vertical.
Breakup by Service Type:
Backup and Recovery Services
Real-time Replication Services
Data Protection Services
Training, Education, and Consulting Services
Support and Maintenance Services
Breakup by Service Provider:
Cloud Service Providers
Managed Service Providers
Telecom and Communication Service Providers
Breakup by Deployment Model:
Breakup by End-User:
Small and Medium-sized Enterprises (SMEs)
Breakup by Vertical:
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined with some of the key players being Amazon Web Services, Bluelock LLC, C and W Business Ltd, Geminare Incorporated, IBM Corporation, iLand Internet Solutions Corporation, Infrascale Inc., Microsoft Corporation, Recovery Point Systems Inc., Sungard Availability Services LP, TierPoint LLC, etc.
Key Questions Answered in This Report
1. What was the size of the global disaster recovery as a service market in 2021?
2. What is the expected growth rate of the global disaster recovery as a service market during 2022-2027?
3. What are the key factors driving the global disaster recovery as a service market?
4. What has been the impact of COVID-19 on the global disaster recovery as a service market?
5. What is the breakup of the global disaster recovery as a service market based on the service type?
6. What is the breakup of the global disaster recovery as a service market based on the service provider?
7. What is the breakup of the global disaster recovery as a service market based on deployment model?
8. What is the breakup of the global disaster recovery as a service market based on the end user?
9. What is the breakup of the global disaster recovery as a service market based on the vertical?
10. What are the key regions in the global disaster recovery as a service market?
11. Who are the key players/companies in the global disaster recovery as a service market?