MarketDigits MR recently added Global Disaster Recovery-as-a-Service Market Study that gives deep analysis of current scenario of the Market size, demand, growth, trends, and forecast. Revenue for Disaster Recovery-as-a-Service Market has grown substantially over the five years to 2020 as a result of strengthening macroeconomic conditions and healthier demand, however with current economic slowdown and Face-off with COVID-19 Industry Players are seeing Big Impact in operations and identifying ways to keep momentum. Disaster Recovery-as-a-Service Market estimates rely extensively on both the volume and value and due to slowdown price fluctuation in widening demand and supply gap.
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Report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
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Demand for Improving Resilience of Enterprises Bolstering Growth
The rising adoption of advanced resilience solutions by smaller companies as well as large enterprises is continuously accelerating the DRaaS market growth. In order to minimize planned outages, enterprises require server virtualization and cloud computing solutions as those are capable of moving the applications in temporary storage spaces during the time of recovery testing, firmware upgrade, and system maintenance.
Besides this, in order to minimize the unplanned outages, various cloud computing services such as backup as-a-service, storage as-a-service, software as-a-service, replication services, and others are getting popular as an integral part of business computing planning.
According to MarketDigits, the demand for advancement in enterprises resilience solutions are forecast to accelerate the global market growth in the coming years.
DRaaS solutions need experts for handling and service providing. Also, the knowledge of cyber threats & security, risk management, and others is mandatory as crucial and confidential data is handled, replaced, and recovered during the DRaaS process. Lack of trained professionals may work as constraints slowing down market demand.
Due to the outbreak of novel coronavirus in the current year, various factors such as economic constraints, travel restrictions, job recession, and others have declined the market growth. As the professionals are working remotely, the cyber-attacks and crimes have increased even more making the work challenging.
Despite facing a few restraining factors due to COVID-19 pandemic, the global DRaaS market holds unlimited potential worth exploring by the key market players.
According to MarketDigits, the global DRaaS market will be fully back to its position by the first quarter of 2021.
Recovery & Backup Services to Remain Dominant
With advancements in banking, financial, telecommunication, and other sectors, there has been surge in recovery and back up services among these diverse range of industries.
As most of the enterprises require cost-effective solutions for fast and secure recovery rate, the recovery and backup services are being widely popular around the globe.
It is very crucial to recover significant and confidential data lost due to technical disasters or cyber-attacks. In the other hand, keeping the back-up of data is needed very frequently during system maintenance, upgrade, or other procedures. Due to these reasons, the recovery and back up services segment is playing the leading role in service type segments.
According to MarketDigits, the recovery and back up services segment is expected to grow further during the forecast period.
Cloud Service Provider to Gain Traction
Cloud disaster recovery or cloud DR is a set of strategies and services developed in order to back up data, resources, applications, and others to public cloud or dedicated service providers.
Being extremely useful as well as cost effective in restoring affected data, applications, and other important informations affected during the disasters, the cloud services solutions are hugely demanded all over the world.
Being the central element of business continuity, it is rapidly taking the most dominating place in the service providers segment.
According to MarketDigits, cloud service provider will sustain as the leading service provider during the coming years.
Public Cloud to Maintain the Lead
Public cloud is hugely preferred by the various industries starting from telecommunication to healthcare, due to its hassle-free mechanisms and optimized cost.
Public cloud platform uses standard cloud computing model in order to develop multiple resources such as virtual machines, applications, memories, and others helping the remotely working users. Due to its scalability to handle work load and capability to minimize wastage of resources, public cloud is most desired segment in the deployment-wise category.
According to MarketDigits, public cloud deployment will remain in the leading position during the forecast period.
Companies operating in the market are witnessing cut-throat competition. In order to gain competitive advantage a majority of them are relying on innovations and technological developments. There is ample focus on making DRaaS solutions more accessible. Steered by this, some of the leading companies are launching advanced solutions at competitive prices.
For instance, Axcient has released their extensive set of DRaaS solutions with reduced cost which eliminate the hardware, software licensing, hosting and maintenance costs associated with running a VMware disaster recovery site.
Citrix has launched their exclusive ‘Citrix Virtual Apps and Desktops- Disaster Recovery Planning’ covering the requirements from broad range of end users starting from BFSI to healthcare.
Sunguard has launched their exclusive Sunguard AS colocation services in order to provide a privately-owned, state-of-the-art data center with space to develop customized IT environment.
Microsoft has come up with ‘Azure Site Recovery’ offering native disaster recovery (DR) solution running on virtual machines. Microsoft Azure is the first public cloud to offer such service.
As the global DRaaS market growth is increasing exponentially, the key market players are getting stronger to give tough competition in the coming years.
Some of the key market players are-
- Amazon Web Services
- NTT Communication
- Cable & Wireless Communication
- TirePoint LLC
- Bluelock LLC
- Recovery Point Systems
- Cisco Systems
*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report
Key Questions Answered by the Report
- At what CAGR is the DRaaS market expected to grow?According to MarketDigits, the DRaaS market is anticipated to grow by 24.6% CAGR during the forecast period from year 2020 to 2029.
- Which is the largest market for DRaaS?At present, region-wise North America is the largest market followed by Latin America and Europe.
- Which are the top companies in DRaaS market?Some of the top companies in global DRaaS market are Amazon Web Services, Axcient, Citrix, IBM, Sunguard, and others.
- Which is the most lucrative segment among service type of DRaaS?Presently, recovery & backup services segment is the most lucrative segment by service type of the DRaaS market and expected to maintain the lead throughout the forecast period.
- Which is the most lucrative segment in terms of service providers in DRaaS market?Cloud service provider is the most lucrative segment in service provider type segments in the global DRaaS market.
- Which region is subject to the highest growth in the global DRaaS market?According to MarketDigits, East Asia DRaaS market is expected to exhibit highest growth during the forecast period.
- Which end-use industry is most dominating in the global DRaaS market?Presently, BFSI industry is most dominating in the global DRaaS market.
Major Classifications are as follows:
By Deployment Model
- Public Cloud
- Private Cloud
- Backup and Recovery
- Data Protection
- Real-time Replication
- Telecom and Communication Service Providers
- Managed Service Providers
- Cloud Service Providers
By Industry Vertical
- Telecommunication and ITES
- Media and Entertainment
- Healthcare and Life Sciences
- North America
- South America
- Rest of the World
Disaster Recovery-as-a-Service Market report provides statistics on the current state of the industry and thereby acts as a valuable source of guidance and direction for companies & investors interested in this market. Each of the topics is researched and analysed in depth for generating comprehensive Disaster Recovery-as-a-Service Market research report. This Disaster Recovery-as-a-Service Market report examines the market with respect to general market conditions, market status, market improvement, key developments, cost & profit of the specified market regions, position and comparative pricing between major players. Disaster Recovery-as-a-Service Market report is an absolute background analysis of the industry which includes an assessment of the parental market.
Disaster Recovery-as-a-Service Market Reports – Table of Contents
2. Assumptions and Research Methodology
3. Executive Summary: Global Disaster Recovery-as-a-Service Market
4. Market Overview
5. Key Insights
6. Global Disaster Recovery-as-a-Service Market Analysis and Forecast, By Product
7. Global Disaster Recovery-as-a-Service Market Analysis and Forecast, By Detector
8. Global Disaster Recovery-as-a-Service Market Analysis and Forecast, By Technology
9. Global Disaster Recovery-as-a-Service Market Analysis and Forecast, By Application
10. Global Disaster Recovery-as-a-Service Market Analysis and Forecast, By End-user
11. Global Disaster Recovery-as-a-Service Market Analysis and Forecast, By Region
12. North America Disaster Recovery-as-a-Service Market Analysis and Forecast
13. Europe Disaster Recovery-as-a-Service Market Analysis and Forecast
14. Asia Pacific Disaster Recovery-as-a-Service Market Analysis and Forecast
15. Latin America Disaster Recovery-as-a-Service Market Analysis and Forecast
16. Middle East & Africa Disaster Recovery-as-a-Service Market Analysis and Forecast
17. Competitive Landscape
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