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2024 Disaster Recovery As A Service (DRaaS) Market Report : Market Size, Growth Drivers, And Key Trends | Amazon.com Inc., Microsoft Corporation, Verizon Communications Inc., NTT Communications Corporation, Dell Inc
Disaster Recovery As A Service (DRaaS) Global Market Report
The Business Research Company presents an extensive market research report on the Disaster Recovery as a service (DRaaS) Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The disaster recovery as a service (draas) market size has grown exponentially in recent years. It will grow from $9.6 billion in 2023 to $12.23 billion in 2024 at a compound annual growth rate (CAGR) of 27.4%. The growth in the historic period can be attributed to increased data dependency, scalability demands, increase in data vulnerabilities, complexity of it infrastructure, rise in cyber threats.
The disaster recovery as a service (draas) market size is expected to see exponential growth in the next few years. It will grow to $33.48 billion in 2028 at a compound annual growth rate (CAGR) of 28.6%. The growth in the forecast period can be attributed to ai and machine learning integration, continuous data protection (cdp), edge computing resilience, ransomware mitigation solutions, multi-cloud and interoperability. Major trends in the forecast period include cost optimization and scalability, resilience against natural disasters, automation and orchestration, real-time recovery expectations, shift to remote work.
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Key Market Players:
Major companies operating in the disaster recovery as a service (draas) market report are Amazon.com Inc., Microsoft Corporation, Verizon Communications Inc., NTT Communications Corporation, Dell Inc., The International Business Machines Corporation, Cisco Systems Inc., The Hewlett Packard Enterprise Company, VMWare Inc., Geminare Incorporated, Windstream Holdings II LLC, Symantec Corporation, Cable& Wireless Communications Limited, Sun Gard Availability Services, Commvault, Datto Inc., TierPoint LLC, Acronis International GmbH, 11:11 Systems Inc., Node Africa, Evolve IP LLC, Insight Partners, Axcient, Infrascale Inc., Recovery Point Systems Inc., Treo Information Technologies, Disaster Recovery South Africa PTY. Ltd., Bluelock, Quorum Business Solutions Inc, Cloud Software Group Inc.
Market Drivers:
The rise in need for backing up public and private data drives the growth of the disaster recovery as a service (DRaaS) market. There is 2.5 quintillion bytes of data created every day and a major factor contributing to the loss of this data is unplanned downtime of systems which further results in the shutdown of various companies. The potential losses and damage due to the system downtimes are huge and hence there is a need for backup services. These backup services would ensure companies of any unforeseen disasters and hence drive the growth of the disaster recovery as a service (DRaaS) market. For instance, according to invenio IT study, less than 10% of the companies survive a disaster without a disaster recovery plan. These companies include not only small players in the market but also major players such as FedEx and Nissan, who require backup services for their survival.
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The disaster recovery as a service (draas) market covered in this report is segmented -
1) By Service Type: Backup & Recovery, Real-Time Replication, Data Protection
2) By Size of Enterprise: Large Enterprises, Small & Medium Enterprises
3) By Application: Banking, Financial services and insurance (BFSI), Government, IT and Telecom, Media And Entertainment, Manufacturing And Logistics, Education
Sub-Segments
1) By Cloud Type: Public, Private, Hybrid
2) By Deployment Model: Premises-to-Cloud, Cloud-to-Cloud
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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