Market Research Future (MRFR), reports that global disaster recovery as a service market 2020 is likely to be largely influenced by COVID-19 pandemic. As per MRFR study, the world market of disaster recovery as a service is expected to rise at 44% CAGR through the assessment period 2017 and 2023. The expansion of the global disaster recovery as a service market value is likely to be at USD 21 Bn by 2023. Disaster recovery as a service market offers replication and hosting of virtual or physical servers via third party and aid failovers events of natural or man-made catastrophe. This cost effective and rapid faster data recovery that come along with flexibility is expected to promote the expansion of the world disaster discovery as a service market. Other major causes that can drive the rise of the disaster recovery as a service market are high adoption of cloud based solutions and the pressing demand for speedy data recovery. The growing need for disaster mitigation solutions among organizations that are highly reliable, scalable, and significantly secured to ensure the continuity of business amidst disaster can promote the expansion of the global disaster recovery as a service market in the years to come.
The global disaster recovery as a service (DRaaS) market vendors are; Cable & Wireless Communications (UK), Treo Information Technology (Turkey), Amazon Web Services (USA), Cisco Systems (USA), Microsoft Corporation (USA), HP Enterprises Company (USA), IBM Corporation (USA), NTT Communications (Japan), Sungard Availability Services (USA), and VMware Inc. (USA).
The segment study of the disaster recovery as a service market are deployment, service type, service provider, and verticals.
The deployment-based segments of the disaster recovery as a service market are public cloud, hybrid cloud, and private cloud. The service provider-based segments into telecom & communication service provider, managed service provider, cloud service provider, and others. The service type based segments of the disaster recovery as a service market are professional services, backup service, real-time replication, data security service, support & maintenance, system integration, and training & consulting. The verticals-based segments of the disaster recovery as a service market are retail, BFSI, Information Technology (IT), government, healthcare, media, Telecommunication manufacturing, and others.
According to regional study by MRFR on the world disaster recovery as a service market, the market in North America is likely to secure the largest share of the global market. The major factor that can boost the expansion of North America disaster recovery as a service market is technological advancements. The rise in the investments made in cloud-based solutions for disaster recovery as a service market can promote the expansion of the regional market. In the US and Canada, the presence of major DRaaS developers is expected to prompt the expansion of the regional market.
Across the review period, the disaster recovery as a service market in Asia Pacific can rise at a high growth rate. The rise in the adoption of disaster recovery as service across powerful economies, such as India. This can boost the revenue earned by the market in the assessment period. In Europe, the expansion of the disaster recovery as a service market through the forecast period can be credited to factors, such as high presence of advanced infrastructure and major technological breakthroughs. The high adoption of emerging technologies, along with the rise in business requirements can promote the expansion of the regional disaster recovery as a service market.
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