Press release
Disaster Recovery as a service (DRaaS) Market Rising Demand, Evolving Trends, Future Perspectives, Size, Share And Forecast To 2033
Disaster Recovery as a service (DRaaS) Market
The Business Research Company offers in-depth market insights through Disaster Recovery as a service (DRaaS) Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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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Market Segmentation:
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
Major Driver - Safeguarding Data In The Digital Age Driving The Growth Of Disaster Recovery As A Service (DRAAS)
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.
Competitive Landscape:
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.
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Top Trend - Leading Draas Companies Expand Global Reach With Innovative Technology
Major companies in the disaster recovery as a service (DRaaS) market are developing technological solutions such as erinext DRaaS Managed Service to expand their global presenc. The Verinext DRaaS Managed Service solution offers secure, compliant, and adaptable DRaaS managed services to customers who require ransomware resistance as well as continuous data protection and availability with near-zero data loss or downtime. For instance, in July 2023, Verinext Corporation, a US-based IT service management company, launched disaster recovery-as-a-service (draas) delivered on HPE Greenlake. The HPE GreenLake platform is deployed in dedicated Verinext data centers, together with disaster recovery software from Zerto, a Hewlett Packard Enterprise company, and Verinext will exploit the HPE GreenLake platform's agility for rapid customer onboarding and scale.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Disaster Recovery as a service (DRaaS) Market Characteristics
3. Disaster Recovery as a service (DRaaS) Market Trends And Strategies
4. Disaster Recovery as a service (DRaaS) Market - Macro Economic Scenario
5. Disaster Recovery as a service (DRaaS) Market Size And Growth
…..
27. Disaster Recovery as a service (DRaaS) Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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