What COVID-19 Impact: Rising Need for Backing Up Data to Escalate the Growth of Global Disaster Recovery as a Service Market

Disaster recovery as a service is gaining popularity among enterprises of all sizes, mainly due to its affordable pricing model. Most of the additional costs involved for storing the data in a cloud server is effectively eliminated by using disaster recovery as a service through a third-party service provider. This further eliminates the unwanted expenses for the company like the expenses for purchase or leasing server, network and storage equipment, owning a space for secondary data centers, monthly cost associated for cooling, power and bandwidth at the secondary data centers and many more. In addition, the rise in the need for backing up the data is predicted to drive the market in the forecast period. Disaster recovery as a service solution enables the company to recover the data within a few minutes depending on the server without any interruption in the business operation if any disaster occurs.

Research Dive report confirms that the global disaster recovery as a service market continues to evolve. The industry is driven by the SMBs (small and medium businesses) that are looking for solutions that unites disaster recovery with backup and data protection.

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Advantages of DRaaS
o As DRaaS is 100% cloud computing it is a multisite. The resources are replicated to various different sites to make sure there is a continuous backup in the event.
o The recovery service can replicate any environment and does not favor one platform or vendor.
o Depending on the requirement of customers whether comprehensive or granular, an organization can lessen the costs with flexibility protection, if all the data does not require a backup.

Recent Developments in the DRaaS Market

There are numerous DRaaS providers all across the globe, and all with different tactics and skills for hosting and replicating servers and data. As per Research Dive blog, some DRaaS providers back up physical servers, while others focus on virtual servers. As DRaaS is a growing market, organizations look to third-party providers to deliver failover in the event of service disruptions or natural disasters.

The owners of auction houses and collision center, Auto Nation launched its individual precision parts line. In 2018, they announced a new disaster-recovery plan. This plan features a blend of as a service-based and colocation-based disaster recovery, with 25% applications targeted to recover from Amazon Web Services and 75% from a Denver colocation facility. Orchestrated by DRaaS provider Cohesity, the environment replicates and backs up virtual servers, data and applications to the AWS and the colocation facility. Recovery and failover are also managed by Cohesity.

According to a leading global technology research, more players are entering the market as interest grows in DRaaS. There are some applications and servers that can be easily ported to a cloud-based disaster recovery as a service environment. On the other hand, others might be resistant due to their high interdependency with other applications.

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Potential Future of Disaster Recovery as a Service Market

Global market for disaster recovery as a service is anticipated to witness a progressive growth during the forecast period. The rise in the need for backing up the data is predicted to drive the market from 2019 to 2026. As a service solution, disaster service allows the companies to recover data within a few minutes depending on the server without any interruption. As most of the data is stored on the cloud servers, the companies are concerned about the data breach. Thus, data breach and security are considered as the major restraints for the growth of global disaster recovery as a service market.

Greater flexibility and affordable pricing model are some of the significant factors giving substantial uplift to the growth of the global market in the upcoming years. As per the Research Dive report statistics, the global market for disaster recovery as a service is likely to surpass $50,887.1 million by the end of 2026. Geographically, the Asia Pacific DRaaS market is likely to dominate the industry owing to the rising economy and huge investment done by the major companies in this region. Additionally, the report profiles top gaining players operating in the global market who are focusing more on R&D activities to increase their market size in the disaster recovery as a service industry across the globe.

The disaster recovery as a service market players include -

o IBM Corporation
o HP Development Company, L.P.
o Amazon Web Services, Inc.
o Cable & Wireless Communications Limited.
o TierPoint, LLC.
o Microsoft
o VMware Inc.
o NTT Communications Corporation
o RACKSPACE US, INC.

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Mr. Abhishek Paliwal
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Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

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