Disaster Recovery as a Service (DRAAS) Market Display Significant Growth by 2027

ReleaseWire

Valley Cottage, NY -- (SBWIRE) -- 10/05/2018 -- In the recent past, digital information has emerged as one of the most valuable asset for any business. Protection of data from various disasters has become crucial practice, as damage of data can result into severe business and financial losses. Enterprises from various industries are investing significantly in different solution to ensure that their data is correct, accurate, and not corrupted. Disaster Recovery as a Service enables business to duplicate its physical or virtual servers through cloud services provided by third-party vendor to evade data losses caused by human or natural failure. Developing own disaster recovery strategy can be expensive, complex, and time-consuming, thus there exist a high demand for disaster recovery as a service solutions. Moreover, to meet the demand and expectation, vendors are introducing active protection and assurance technologies which consist of automated data healing capabilities as a measure against cyber-attacks.

Disaster Recovery as a Service Market: Drivers and Restraints

Factors such as increase in adoption of industrial automation and virtualization are thereby driving the market for disaster recovery as a service. In addition to this, cost effectiveness and flexibility offered by disaster recovery as a service solutions, as well as growing trends of managed services of among enterprises is expected to further accelerated demand for disaster recovery as a service during the forecast period. On the other hand, high network bandwidth requirements, as well as lack of compliance and security may act as a restraint for the disaster recovery as a service market.

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Disaster Recovery as a Service Market: Segmentation

Disaster recovery as a service market can be segmented on the basis of type of services, cloud type, end users, verticals and regions. On the basis of type of services the disaster recovery as a service market can be segmented into real-time protection, backup, data security, professional services, and others. The disaster recovery as a service market by end user can be segments as SMEs and large enterprises. Whereas, the cloud segment in the disaster recovery as a service market may includeprivate cloud, public cloud and hybrid cloud. On the basis of vertical the market may be classified into retail, healthcare, BFSI, transportation, media and entertainment, government, and others. Regionally, Disaster recovery as a service market can be segmented into North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Japan, and Middle East and Africa.

Disaster Recovery as a Service Market: Regional Outlook

Disaster recovery as a service market is dominated by the North America, and Western Europe region. North America has a wide presence of key disaster recovery as a service providers, as well as U.S. is considered as the high adopter of connected technology. Asia Pacific Excl. Japan as well as Japan region is expected to witness a significant growth in the disaster recovery as a service market. High growth of APEJ is attributed to the growing trend of business automation and the increasing number of cyber-attacks, is leading to high investment on disaster recovery as a service solutions by organizations based in the region. Eastern Europe and Latin America is expected to see a significant growth rate in the disaster recovery as a service market.

Disaster recovery as a service Market: Competition Landscape

Among the key players involved in disaster recovery as a service market, companies such as International Business Machines Corporation, Amazon Web Services, Vmware, Inc., Microsoft Corporation and Cisco Systems, Inc., among others are focusing on organic as well as inorganic strategies to strengthen their position in the disaster recovery as a service market. For instance, in October 2016, IBM Corp. acquired Sanovi Technologies Corp. to expand its disaster recovery services for hybrid cloud. On the other hand, in 2014, Microsoft Corporation acquired InMage Systems Inc., aiming at providing disaster recovery solutions along with Azure – a cloud computing platform for enterprises.

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