US Disaster Recovery as a Service (DRaaS) Market Analysis 2031

Increase in adoption of cloud services among industry verticals such as BFSI and IT & telecom has created the need for cost-effective and faster data recovery solutions such as DRaaS. Natural calamities, technical variations, and human errors result in loss of data, revenue, and employee productivity. Rise in regulatory compliance, advancements in IT infrastructure, cybersecurity issues, need for business continuity, improved RPO, and need for data protection as a service and backup facility are expected to drive the adoption of disaster as a service (DRaaS) among businesses in the near future. During the COVID-19 pandemic, most companies chose to work remotely as a safety precaution in affected countries across the globe. This has led to a rise in security breaches and cyberattack incidents, thereby driving the demand for DRaaS solutions.

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In the past, businesses found it difficult to afford off-site disaster recovery solutions. As a result, end-user organizations were less likely to spend on a second (mirror) data center that is rarely used. Nowadays, technological innovations have overcome the issue with the emergence of disaster recovery as a service (DraaS), which helps in replicating and hosting servers on a third-party vendor site. Disaster recovery as a service (DRaaS) is a service model that allows an enterprise to back up data and IT infrastructure in a third-party cloud environment and prevent damage from natural disasters such as floods, wildfires, earthquakes; equipment failures, power outages & cyberattacks; and other operational disasters. The number of cybercrimes is increasing rapidly with the rising penetration of smartphones and the Internet of Things. This has led to a rise in demand for disaster recovery as a service (DRaaS) solutions to perform recovery tasks to secure data centers or servers owned and operated by an organization. Disaster recovery as a service (DRaaS) solution can be used to monitor disasters in business operations, secure backup, and achieve recovery point objective (RPO) and recovery time objective (RTO). Backup and disaster recovery appliances are gaining popularity in organizations in developing countries to protect their data. Organizations are regularly testing and updating DRaaS to protect operational data in a secure and safe manner to avoid losses and prevent downtime.

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Rise in Need to Reduce Downtime among Enterprises Propelling Demand for DRaaS Services
The security of companies with a data center can suffer due to various threats that have a significant impact on business continuity and IT infrastructure. Natural disasters such as earthquakes and floods; human threats that comprise network attacks, including ransomware attacks and unauthorized access to confidential information; and lastly, environmental interruptions such as long-term power failure and exposure to pollution or chemical substances interrupt data center operations. These interruptions are known as downtime, which operators are most concerned about in their day-to-day data center operations. Interruption or halt in operations can occur in any size of business, from small and medium enterprises (SMEs) to large enterprises and even MNCs. This downtime may cause data loss, loss of revenue, and loss of customers, which is expected to have a severe impact on the operations of enterprises.

Rise in usage of cost-effective backup and disaster recovery services, especially among SMEs, leads to reduced operational risks and continual business operations. Other benefits of DRaaS include scalability as per increasing/decreasing requirements; pay-per-use model; geographic redundancy, wherein departments can spread backed-up resources across multiple geographic regions and maximize their availability; and faster restoration of server/data. This is projected to smoothen business operations in any disaster condition and help reduce downtime.

Increase in adoption of operational recovery goals such as recovery point objective (RPO), which refers to the length of time taken by business operations to restore data; and recovery time objective (RTO), which refers to the amount of time between backups, plays an important role in reducing the downtime to restore business operations. According to Acronis' Cyber Protection Week Global Report published in 2021, 76% of organizations experienced downtime and data loss issues in 2021 due to system crashes, human errors, and cyberattacks.

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Growth in Cyberattacks to Drive Disaster Recovery as a Service (DRaaS) Market
Increase in adoption of digital technologies across various industry verticals leads to risks associated with cybersecurity, which disrupts enterprise operations, and may have a severe impact on the business. This generates the need for data backup and disaster recovery solutions and services. Rise in cyberattacks as well as ransomware attacks generates the need to secure data centers by adopting hosted backup and disaster recovery-as-a-service (DRaaS) solutions to protect end-user systems, cloud applications, and enterprise infrastructure from cyber threats. Increase in number of data centers in the U.S., Canada, and Germany has attracted cybercriminals, leading to the risk of cyberattack incidents. This is expected to create significant demand for the adoption of data protection and recovery solutions among various end-users during the forecast period. According to Cloudscene, a total of 2,793 data centers are present in the U.S. alone. This leads to the risk of a large number of cyberattacks in the country.

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Regional Outlook of Global Disaster Recovery as a Service (DRaaS) Market

North America held major share of the overall disaster recovery as a service (DRaaS) market, followed by Europe, in 2021. These two regions are expected to retain their positions throughout the forecast period due to the increase in digital transformation in BFSI, IT & telecom, government, and media & entertainment, telecommunication, among other sectors. Increase in demand for best disaster recovery as a service (DRaaS) solutions can be ascribed to the rise in risk of data loss and downtime leading to business losses. Rise in demand for DRaaS in North America and Europe can be ascribed to the growth in need to secure data and accelerate restoration in data centers, especially in the U.S. and U.K.

The Asia Pacific market is projected to grow at the fastest CAGR during the forecast period. China and India are the major disaster recovery service provider countries in Asia Pacific, offering vast scope for disaster recovery companies operating in the market. The popularity of DRaaS in Asia Pacific can be ascribed to the increase in natural calamities such as floods, earthquakes, and human errors, which in turn lead to data leaks. This is estimated to drive the DRaaS market in the region during the forecast period.

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Analysis of Key Players in Global Disaster Recovery as a Service (DRaaS) Market

The disaster recovery as a service (DRaaS) market is highly fragmented, and vendors are looking for ways to successfully tap growth opportunities and strengthen their presence in the market. Disaster recovery as a service (DRaaS) providers are expanding their product portfolio and market reach through mergers and acquisitions, new product developments, and partnerships with leading players. The next few years are expected to offer scope for the establishment of disaster recovery as a service (DRaaS) in untapped markets. Many retailers and IT companies are focusing on adopting disaster recovery as a service (DRaaS) solutions to provide better customer experiences and unhindered access. Microsoft, IBM Corporation, VMware, Inc., Amazon Web Services, Inc., and iland are some of the leading companies profiled in the disaster recovery as a service (DRaaS) market research report.

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