Disaster-Recovery-as-a-Service Market by Service Type (Backup, Data Security, Professional Services), Service Providers (Cloud Service Provider, Managed Service Provider, Telecom & Communication Service Provider), Cloud Type, Company Size, Deployment Mode

Disaster-Recovery-as-a-Service Market by Service Type (Backup, Data Security, Professional Services), Service Providers (Cloud Service Provider, Managed Service Provider, Telecom & Communication Service Provider), Cloud Type, Company Size, Deployment Mode

The Disaster-Recovery-as-a-Service Market size was estimated at USD 1.18 billion in 2023 and expected to reach USD 1.30 billion in 2024, at a CAGR 10.09% to reach USD 2.33 billion by 2030.

Disaster Recovery-as-a-Service (DRaaS) is a comprehensive managed solution that enables businesses to safeguard their critical data and IT infrastructure against catastrophic events, such as natural disasters, cyberattacks, equipment failures, or human errors. DRaaS ensures rapid restoration of IT systems, minimizing downtime and associated operational losses by leveraging third-party cloud-based resources. The importance of DRaaS lies in its ability to maintain business continuity and protect an organization's reputation while mitigating the financial impact of unexpected disruptions. Safeguarding sensitive data from unauthorized access has become paramount for businesses, with cyberattacks becoming more frequent and advanced. Implementing DRaaS helps companies restore their data quickly in case of such incidents without succumbing to ransom demands. The occurrence of natural disasters such as hurricanes, floods, and earthquakes has risen owing to climate change. It poses major risks to businesses that rely heavily on technology infrastructure for their daily operations. DRaaS ensures that organizations can quickly recover their IT systems and resume normal business activities after disasters. However, functional limitation of the DRaaS solutions and limited standardization of the solutions to evolving regulatory frameworks impact their improved usage across industries. Market players are introducing advanced solutions based on AI and ML with improved features to cater to better solutions for the users. Cloud-based DRaaS solutions leverage advanced technologies such as replication and automation to ensure rapid recovery of critical data and applications, reducing the impact on business operations.

Regional Insights

In the Americas, the DRaaS market experienced significant growth owing to well-established cloud infrastructure, high levels of business digitalization, and a strong presence of product developers. Stringent regulatory requirements for data protection and disaster recovery planning have driven industries such as finance and healthcare toward adopting DRaaS solutions in the United States and Canada. APAC demonstrates immense potential for the DRaaS market, given its diverse economic landscape comprising booming IT economies in China, India, Japan, and South Korea. Rapid urbanization, increasing internet penetration rates, growing small-to-medium enterprises, and rising awareness about the importance of data protection fuel demand for disaster recovery services in the region. Global DRaaS providers in the region have been forming strategic alliances with local partners, investing in R&D to tailor solutions to regional needs, and ensuring compliance with native data protection laws to expand product usage. Europe has observed a surge in DRaaS adoption owing to the enforcement of stringent data protection regulations such as the General Data Protection Regulation (GDPR), which has compelled European businesses to prioritize data security and invest in disaster recovery strategies. Additionally, Europe's region-wide focus on digital transformation initiatives, strong IT infrastructure, and the presence of local DRaaS providers contribute to the market growth. Moreover, the Middle East and Africa region is poised for significant growth, driven by government initiatives promoting digital transformation, increasing adoption of cloud-based services, and a heightened awareness among businesses about the need for effective disaster recovery planning.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Disaster-Recovery-as-a-Service Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Increasing adoption of cloud-based disaster recovery
Rising volume of data generation in websites and mobile apps
Increasing focus on delivering customer-centric applications
Growing need to control and reduce Capital Expenditure (CAPEX) and Operational Expenditure (OPEX)

Market Restraints

Unwillingness of enterprises towards the adoption of cloud-based DR over traditional methods
Issues related to deployment and lack of monitoring

Market Opportunities

Extremity of AI and ML in DRaaS solutions to strengthen the DR strategies of enterprises

Market Challenges

Issues in achieving security and compatibility in the cloud environment
Lack of expertise to test an effective disaster recovery plan

Market Segmentation Analysis

Service Type: Growing need to secure data from breaches and unauthorized access
Cloud Type: Higher preferences for private cloud to gain maximum control over data security
Deployment Model: Growing demand for To-Cloud DRaaS to maintain on-premises data centers
End User: Higher demand for DRaaS from the evolving BFSI sector

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Disaster-Recovery-as-a-Service Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Disaster-Recovery-as-a-Service Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Expedient Announces Partnership with Kyndryl to Deliver Disaster Recovery as a Service

Expedient announced its strategic partnership with Kyndryl, the preem inent provider of IT infrastructure services globally. This collaboration is set to redefine disaster recovery solutions, fusing Expedient's unparalleled data center capabilities with Kyndryl’s top-tier cyber resilience services. This alliance is expected to broaden both entities' abilities to deliver fortified security and cyber resilience solutions, enabling organizations from all sectors to significantly enhance their defenses against data breaches and associated cyber threats.

Verinext Launches Disaster-Recovery-as-a-Service (DRaaS) Delivered on HPE GreenLake

Verinext Corp., an HPE platinum partner in North America, launches Disaster-Recovery-as-a-Service (DRaaS) managed services on the HPE greenLake edge-to-cloud platform. This DRaaS-managed service ensures secure, compliant, and flexible disaster recovery solutions with minimal data loss or downtime, securely stored in a fully managed private cloud, guaranteeing protection, compliance, and customer confidence regarding data location.

N-able Announces Cove Data Protection with Disaster Recovery as a Service, Introducing Microsoft Azure Recovery Option

N-able, Inc. has enhanced the continuity features of cove data protection by introducing standby image recovery in Microsoft Azure. This new feature contributes to smarter disaster-recovery-as-a-service (DRaaS), assisting managed service providers (MSPs) and IT professionals in delivering faster file-level restoration and flexible, cost-effective disaster recovery solutions to end users. By leveraging standby image recovery in Azure, users can experience the benefits of efficient and prompt disaster recovery services.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Disaster-Recovery-as-a-Service Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Disaster-Recovery-as-a-Service Market, highlighting leading vendors and their innovative profiles. These include 11:11 Systems Inc, Acronis International GmbH, Amazon Web Services, Inc., Axcient, BIOS Middle East Group by ZainTech, Cable & Wireless Communications Limited, Cisco Systems, Inc., Citrix by Cloud Software Group, Inc., Daisy Corporate Services Holdings Limited, Databarracks Limited, Druva1, ESDS Software Solution Ltd., Google LLC by Alphabet Inc., Infrascale Inc., International Business Machines Corporation, InterVision Systems, LLC, Microsoft Corporation, N-able, Inc., Nippon Telegraph and Telephone Corporation, Nordia Infotech Pvt Ltd, OneNeck IT Solutions LLC by Telephone and Data Systems, Inc., Open Text Corporation, Oracle Corporation, RackWare, Inc., Recovery Point Systems, Inc., Secur-Serv, Sungard Availability Services LP, Tata Communications Ltd., Thrive Operations, TierPoint, LLC, Veoci Inc., VMware, Inc., and Xigent LLC.

Market Segmentation & Coverage

This research report categorizes the Disaster-Recovery-as-a-Service Market to forecast the revenues and analyze trends in each of the following sub-markets:

Service Type
Backup
Data Security
Professional Services
Real-Time Protection
Service Providers
Cloud Service Provider
Managed Service Provider
Telecom & Communication Service Provider
Cloud Type
Hybrid Cloud
Private Cloud
Public Cloud
Company Size
Large Companies
Mid-Sized Companies
Small Companies
Deployment Model
From Cloud DRaaS
In Cloud DRaaS
To Cloud DRaaS
End User
BFSI
Education
Government
IT & Telecom
Manufacturing & Logistics
Media & Entertainment
Retail & E-Commerce
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

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