Global Disaster Recovery as a Service (DRaaS) market to Expand at 36.0% CAGR, Propelled by Rising IT Investments

A market research study published by the market research company Transparency Market Research projects remarkable growth prospects for the global disaster recovery as a service (DRaaS) market over the period 2014-22. The report states that the market, which had a valuation of US$621.30 mn in 2013, will expand at an extraordinary 36.0% CAGR over the report’s forecast period.The report is titled “Disaster Recovery as a Service (DRaaS) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2022”

The report credits factors such as the cost effectiveness, greater flexibility, fast recovery, and capability of automated and simpler testing of modern disaster recovery services, as the key driving forces behind the global DRaaS market’s excellent growth prospects. Additionally, the rising enterprise IT spending across the globe is also expected to benefit the market substantially over the coming years.The report broadly segments the global DRaaS market on the basis of five criteria: deployment model, product type, company size, key application area, and geography.

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Amongst the various deployment models in the global DRaaS market studied in the report, the To Cloud segment accounted for a 51.3% of the overall revenue generated by the market in 2013. TO Cloud deployment model is widely preferred by small and mid-sized enterprises (SMEs) as this model avoids the complexity and expense that generally comes with traditional disaster recovery systems. Over the report’s forecast period too, this market segment is expected to remain dominant.Based on type of product, the segment of software components held about 60.8% of the overall revenues earned by the market in 2013. Entry of new software service vendors from across the globe in the DRaaS segment is expected to intensify the prevailing competition in the software market more in the near future.

Application-wise, the banking, financial services and insurance (BFSI) sector led the market by accounting for nearly 33% of overall revenue generated in 2013. The economically and financially critical nature of information/data in the banking, financial services and insurance (BFSI) sector, requiring compulsory backup plans for avoiding loss, is expected to keep demand for DRaaS in this segment ripe across the forecast period as well.Geography-wise, the market for DRaaS in North America held nearly 36.8% of the global market in 2013. Over the report’s forecast period, however the market segment of Asia Pacific is expected to grow at the fastest pace, accounting for the largest revenue share of the market.

Browse the Full Market Research Report at- http://www.transparencymarketresearch.com/disaster-recovery-a-service-market.html

The report presents a detailed account of the competitive landscape of the global DRaaS market. It provides details regarding key developments observed in the market in the recent past and detailed business profiles of some of the key vendors in the market are included. Business profiles of companies, including Amazon, Bluelock, Axcient, Doyenx, Acronis, EMC, IBM, eVault, Sungard, Geminare, nScaled, NTT Communications, QuorumLabs, Inc., Hosting.com Verizon, HP, Microsoft Azure, VMware, Windstream, and Columbus Business Solutions, are provided in the report.

The global disaster recovery as a service (DRaaS) market has been segmented as follows:

DRaaS Market, by Deployment Model
To Cloud DRaaS
In Cloud DRaaS
From Cloud DRaaS

DRaaS Market, by Product
Software
Hardware

DRaaS Market, by Company Size
Small Companies
Mid-sized Companies
Large Companies

DRaaS Market, by Application Sector
Banking and Financial Institutions (BFSI)
Government and Public Sector
Telecommunication Sector
E-Commerce/Retail
Manufacturing Sector
Others

DRaaS Market, by Geography
North America
Europe
Asia Pacific
Middle East and Africa
Latin America

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend 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.

Transparency Market Research
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Albany, NY 12207
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Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

This release was published on openPR.