Global Disaster Recovery as a Service (DRaaS) Market - Rising Number of SMEs in Asia Pacific Region to Grant Vast Scope for Market Expansion

With less than five vendors in the past two decades to over a hundred vendors presently, the global DRaaS (Disaster Recovery as a Service) market has witnessed a significant change in competitive dynamics and is now considered a highly fragmented marketplace, observes Transparency Market Research in a recent report. This vast array of vendors operating globally constitutes a vast number of start-up pure-play DRaaS vendors as well as several legacy DR (disaster recovery) heavy-weight DRaaS providers.

The move of some of the non-traditional disaster recovery providers such as CenturyLink and Citrix systems to a robust DRaaS market in the past few years has compelled traditional DR vendors such as IBM Corp., SunGard Data Systems, and HP Company to adopt the strategy of offering DR services on cloud-based technology as well. In the next few years, a large number of new vendors and traditional RS providers are expected to move to this futuristic technology. The field, as a result, will witness a large number of mergers and acquisitions in the near term.

Get More Information :http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3622

Transparency Market Research states that in terms of revenue, the global DRaaS market will exhibit an exponential 35.7% CAGR over the period between 2016 and 2024. If the prediction holds true, the market, which was valued at US$1.29 bn in 2015, will reach US$21.55 bn by 2024.

North America to Continue to Account for Significant Chunk in Revenue

Geographically, North America is the leading revenue generator in the global market and is expected to remain the dominant application segment over the forecast period as well. In terms of end-use applications, the market earned the dominant share in revenues owing to business across the government sector in 2015. Over the forecast period, however, the IT and telecom sector will lead in terms of growth rate.

More Flexible and Cost-effective DRaaS Solutions to Witness Continuous Rise in Demand

Traditional disaster recovery systems require setting up servers with the same configuration as that of the primary site. The configuration of the server at a disaster recovery site must match the one at the primary site for smooth transition of applications and processes. Many times, the consumer is required to purchase both servers at the same time because if the configurations do not match, chances of an outage significantly rise.

Usage of technologies such as converged infrastructure allow DRaaS solutions to eliminate this difference between the primary and secondary sites, allowing little scope for issues associated with synchronization. This makes DRaaS a more flexible as well as a much more cost-efficient disaster recovery solution compared to traditional disaster recovery solutions. These factors have been central to the vast level of adoption witnessed by DRaaS solutions in the past years and will continue to remain a significant force driving the market over the forecast period.

Security and Compliance Issues to Continue to Hinder Adoption

Some of the key factors hindering the growth of the global DRaaS market are the concerns related to the security and compliance of critical business data, which disaster recovery systems are bound to handle during the replication of systems and data onto public/private cloud, and complexities related to the deployment of DRaaS solutions. Backing up processes and systems on cloud can lead to additional technical hitches owing to the complex nature of existing or conventional IT/system infrastructure of the clients.

Majority of small- and medium-sized companies tend to implement DRaaS solutions during the process of setting up new infrastructure, mitigating the need for surplus charges that large corporations might need to incur to make the move from conventional infrastructure to a DRaaS compliant one. This lack of a complex redundant solution for the deployment of DRaaS solution is one of the key restraints of the global DRaaS market.

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

US Office Contact

90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

This release was published on openPR.