May 03, 2021
According to the research report titled ‘GLOBAL Disaster Recovery As A Service (Draas) Market 2019-2027’, available with Market Study Report LLC, global disaster recovery as a service (DRaaS) market to register a hefty CAGR of 36.67% over 2019-2027.
As per the findings of the report, rising intensity of cyberattacks, rapid digitization across industries, and growing adoption of cloud computing technologies are driving global disaster recovery as a service (DRaaS) market growth.
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Further, rapid progress in advanced data storage & security solutions and transformation of business continuity & disaster recovery industry are positively impacting the market dynamics. On the contrary, high costs and complexities associated with DRaaS systems, along with data privacy concerns are hindering the market expansion.
Based on organization size, global disaster recovery as a service (DRaaS) market is fragmented into large companies, mid-sized companies and small companies. In terms of services, the industry is classified into backup services, real-time replication services, professional service, and data security service. Moving, the deployment mode segmentation comprises in-cloud deployment, to-cloud deployment, and from-cloud deployment.
Considering the regional outlook, global disaster recovery as a service (DRaaS) market size spans across Asia-Pacific, Europe, North America, Latin America, and Middle East & Africa. Among these, North America currently captures majority of the industry share, largely driven by presence of prominent industry players such as Microsoft, IBM, Amazon, and Oracle.
Meanwhile, Europe market is set to grow considerably over the forecast duration, with UK, Germany, and France as the prime contributors. Prompt adoption of DRaaS technology across several industries, including e-commerce, telecommunication, manufacturing, and education, is stimulating the regional market growth.
Key players influencing global disaster recovery as a service (DRaaS) market trends are Rackspace Technology, Inc., Hewlett-Packard Company, Iland Internet Solutions Corp., Zerto Ltd., Sunguard AS, NTT Communications, Cable & Wireless Communications Limited, SAP SE, Jive Software, VMware, Inc., Microsoft Corp., IBM Corp., Geminare, Inc., Cisco Systems, Inc., and Amazon.com, Inc.