Global Disaster Recovery as a Service Market is valued at USD 1.8 Billion in 2021 and expected to reach USD 20.57 Billion by 2028 with a CAGR of 41.6% over the forecast period.
Global Disaster Recovery as a Service Market: Global Size, Trends, Competitive, And Historical & Forecast Analysis, 2022-2028: Increasing number of enterprises throughout the globe are embracing digitalization. Soaring pool of enterprises on the cloud is boosting demand for disaster recovery (DRaaS). DRaaS systems are extensively utilised in a variety of industries, including banking, financial institutions and insurance, IT industry telecommunications, healthcare, and others, because to their adaptability and cost.
Catastrophe restoration as a service is a computer computing model used as a cloud to assist preserve programs and data from disruption generated by a disaster. It provides an organization with a whole system restoration that permits business continuance in method failure. DRaaS assists with a disaster restoration plan or contingency planning strategy. It is also referred to as business interruption as a service. Dedicated DRaaS images an entire architecture in fail-safe mode on virtual servers, comprising comprehensive storage, and connectivity activities. A business may restart operating applications, it runs from the network operator cloud or cloud platform background instead of the disaster-affected virtual servers. Following a tragedy, return time might be much quicker or even more rapid. Once the physical machines are recovered the processes and data are transferred back into them. Consumers may notice additional latency whenever their apps operate from the cloud rather than an on-site computer. Still, the overall business expense of rest may be greatly considerable, therefore it’s vital the firm can get back on track.
COVID-19 had a favorable influence on the disaster recovery-as-a-service business. This is largely related to work-from-home mandated by various organizations to save the lives of their workers and to avoid the transmission of COVID-19 infection. The work-from-home paradigm has driven various enterprises throughout the globe to choose cloud-based services that have raised the demand for data storage, data restoration, and data protection. This has opened the path for the catastrophe recovery-as-a-service market owing to which it has acquired substantial popularity. Lockdown enforced across numerous nations is boosting the use of cloud-based disaster response service technologies to avoid data leaks. The versatility and cost-effectiveness provided by different DRaaS solutions have significantly benefited the industry development throughout the COVID-19 pandemic.
The global Disaster Recovery as a Service market is segmented based on the services, deployment, enterprise, end-use, and region & country level. Based on service, the global disaster recovery as a service market is segmented into real-time replication, backup and recovery, professional services, data protection. By deployment, the market is segmented into private, public, hybrid. By enterprise size, the global Disaster Recovery as a Service market is segmented into small and medium enterprise and large enterprise. By end-use, the global Disaster Recovery as a Service market is segmented into IT & Telecommunication, BFSI, Manufacturing, Media & Entertainment, Government and Public Sector, Retail and Consumer Goods, Healthcare & Life Sciences, and Others.
The regions covered in the global Disaster Recovery as a Service market report are North America, Europe, Asia-Pacific, Latin America, and the rest of the World. Based on country level, the market of global Disaster Recovery as a Service is sub divided into U.S., Mexico, Canada, U.K., France, Germany, China, Italy, India, Japan, Southeast Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.
Some major key players for the global Disaster Recovery as a Service market report cover prominent players like
Dell Technologies Launched its new Apex solution for helping clients recover from intrusions
On May 2th, 2022; Dell Technologies is pushing down on helping clients recover from intrusions and pushing cyber restoration as-a-service sales with the introduction of its new Apex solution. Dell Apex Cyber Recovery Solutions is the first of a series of brand-new Apex full stack products that give a cloud interface to facilitate restoration from cyberattacks. Dell oversees the daily cyber restoration vault procedures and supports with data restoration.
LEAN Launched its Cloud Managed Services debut
On February 2th, 2022; LEAN, the premier nationwide cloud technologies provider, revealed its Cloud Managed Services debut. The newly announced service provides a unique alternative for enterprises wishing to concentrate their IT expenditures on accomplishing business goals. Leveraging its nationwide cloud and expert services expertise, LEAN provides its customers an integrated, optimised capability to oversee their Disaster Recovery, Virtual Data Centers, and Backup & Data Protection Assistance, thereby lowering their capital and operating costs, enhancing compliance and security and mitigating risk with unparalleled speed and dependability.
Mindtree Launched revealed that it has joined with Rubrik, the Zero Trust Data Security Corporation
On July 19th, 2022; Mindtree, worldwide technological solutions, and digitalization firm, revealed that it has joined with Rubrik, the Zero Trust Data Security Corporation, to build a comprehensive cyber-recovery platform entitled MINDTREE VAULT. The platform integrates Mindtree's programs, cloud, information, and security skills, best practices, and accelerator, with Rubrik's data resiliency, data quantitative measurements, and data retrieval capabilities.
Increasing Data Generation Worldwide, and Increasing Adoption of Tools to Decrease Operational Expenses are Some of the Major Factors Driving the Market Growth
The growing demands towards catastrophe as a business owing to its ability to give better quality standards during recovering data have been serving as one of the primary drivers towards its considerable market expansion. With large volumes of data generated by different companies, there is rising demand for an efficient data security and recovery solution. Utilization of disaster restoration as a service has been extensively rising owing to its ability to give quicker recovery of data inside less period. Installation of cloud services disaster as a service is another significant cause behind rising market needs as it aids in decreasing the operating expenses of hardware’s as well as providing greater versatility, creating high performance. Furthermore, cloud-based services serve as a cost-efficient alternative assisting firms to pay just the sum as per required by the provider along with reducing software licensing and computer infrastructure expenditures. Such characteristics assist small-sized enterprises to strongly utilize disaster restoration as a service to boost information protection and security requirements within cheap prices.
A significant factor in lowering the amount of disruption required to restore the company's operations is the growth in the use of functional recovery objectives, including recovery point objective (RPO), which measures the time required by company activities to restore data, and recovery period goal, which measures the interval between copies. As per Acronis’ Cyber Protection Week Global Report issued in 2021, 76% of firms suffered downtime and data loss concerns in 2021 owing to system breakdowns, human mistakes, and cyberattacks.
There are several restrictions in disaster recovery as a service sector, such as firms selecting cloud storage over conventional techniques. Though many firms are ready to embrace cloud services nevertheless certain companies are not acclimated to this strategy. There are alternative solutions accessible in the marketplace, and firms are utilizing those approaches. They may also supply the same services, so corporations are not employing the newest technology, and it is one of the primary restrictions in the disaster response as a service market.
The United States is among the main marketplaces for DRaaS solutions internationally. The nation is the early supporter of digitalization techniques that have caused various end-users to grow increasingly exposed to cyber-attacks, generating a requirement for a secured storing and restoration network. The nation houses important participants in the business, including Recovery Point, IBM, Sungard Availability Services, etc. Multiple ransomware assaults are being concentrated throughout the United States. In July 2021, around 800 and 1,500 firms globally were impacted by a ransomware assault focusing on the United States information management company Kaseya. The US Department of Justice has declared to boost inquiries of malware infections to a comparable urgency as terrorism, which demonstrates the seriousness of ransomware assaults in the nation.
Europe is also projected to demonstrate noteworthy market expansion in the next years due to rigorous legislation regarding data protection and security. European General Data Protection Regulation (GDPR) specifies that organizations establish diverse safeguards to secure their essential data from cyber-attacks as well as any calamities. Assuming the firm misplaces or destroys any critical knowledge, therefore as per regulation, the company is punished with approximately USD 150 per data file lost. As a consequence, data recovery and backup firms are acquiring unprecedented demand throughout Europe.
Middle East and Africa
|2018 - 2021
|2021 - 2028
|Market Size in 2021:
|USD 1.8 Billion
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2028:
|USD 20.57 Billion
|Tables, Charts & Figures:
|Bluelock LLC, Amazon Web Services, C and W Business Ltd, IBM Corporation, Geminare Incorporated, iLand Internet Solutions Corporation, Sungard Availability Services LP, Microsoft Corporation, Infrascale Inc., Recovery Point Systems Inc., and TierPoint LLC.
|By Service, By Model, By Object Storage Platform, By Solution, By Deployment, By End-Use
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, Africa, Rest of the Middle East and Africa
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