Disaster Recovery-as-a-Service Market By Operating Model (Managed DRaaS, Assisted DRaaS, Self-Service DRaaS), By Service Type (Real-time Replication, Backup & Restore, Data Protection, Others), By Deployment Mode (Public Cloud, Private Cloud), By Organization Size (Large Enterprise, Small & Medium-Sized Enterprises), By End-use Industry (Banking, Financial Services, and Insurance (BFSI), IT & Telecommunication, Government & Public Sector, Healthcare, Retail & Consumer Goods, Media & Entertainment, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global Disaster Recovery-as-a-Service (DRaaS) market was valued at $6,486.5 million in 2021, and is anticipated to reach $60,404.3 million by 2031, growing at a CAGR of 23.9% from 2022 to 2031.
Disaster Recovery-as-a-Service is a backup service model that uses cloud services to protect the data and applications from the disruption that may be caused due to disasters such as floods, hardware failure, data breaches, hurricanes, and many others. Disaster Recovery-as-a-Service (DRaaS) helps the organization in recovering the data loss caused by any event, man-made or natural. It is a cloud-based solution, wherein one can access any system from any location, provided with an internet connection. In case of any natural disasters, the DRaaS facilitates business continuity by offering efficient data recovery from any location. Since most businesses store their data on cloud servers, many are concerned about data breaches. As a result of an increase in cybercrime, businesses are strengthening the security of their networks.
The adoption of digitization is growing among businesses globally. A growing number of cloud-based enterprises are driving up demand for the disaster recovery-as-a-service market. DRaaS systems are widely employed in a variety of industries, including banking, financial services and insurance (BFSI), IT & communications, and healthcare, due to their flexibility and affordability. Increased consumer discretionary money in high-potential countries, along with global growth in digital, online, or mobile payments has resulted in a variety of ways that internet technologies such as cloud computing are being used. Additionally, growing cybercrime concerns around the world have increased the Disaster Recovery-as-a-Service market demand in recent years.
The COVID-19 pandemic brought significant changes to business operations leading to an increase in demand for data recovery in case of any disaster or unexpected circumstances. Organizations are implementing remote work strategies for employees due to travel restrictions. However, the pandemic has positively impacted the disaster recovery-as-a-service market. The lockdown situation is driving the adoption of cloud computing and cloud-based disaster recovery-as-a-service solutions.
The key players profiled in this report include IBM Corporation, Axcient, Sunguard, Amazon Web Services, Inc., Cable & Wireless Communications Limited., TierPoint, LLC., Microsoft, VMware Inc., NTT Communications Corporation, and Rackspace Technology.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the disaster recovery-as-a-service market analysis from 2021 to 2031 to identify the prevailing disaster recovery-as-a-service market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the disaster recovery-as-a-service market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global disaster recovery-as-a-service market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Operating Model
Managed DRaaS
Assisted DRaaS
Self-Service DRaaS
By Service Type
Real-time Replication
Backup Restore
Data Protection
Others
By Deployment Mode
Public Cloud
Private Cloud
By Organization Size
Large Enterprise
Small Medium-Sized Enterprises
By End-use Industry
Banking, Financial Services, and Insurance (BFSI)
IT Telecommunication
Government Public Sector
Healthcare
Retail Consumer Goods
Media Entertainment
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
United Arab Emirates
South Africa
Rest of LAMEA
Key Market Players
Microsoft Corporation
Amazon Web Services, Inc
IBM
VMware, Inc.
Sungard Availability Services
Recovery Point
InterVision
TierPoint, LLC
Infrascale
Acronis International GmbH
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