Disaster Recovery as a Service (DRaaS) Market Size – USD 3.50 Billion in 2018, Market Growth – CAGR of 41.7%, Rapid adoption of cloud-based solutions.
NEW YORK, NY, UNITED STATES, September 11, 2021 /EINPresswire.com/ — The market for Disaster Recovery as a Service (DRaaS) is driven by increased automation capabilities and flexibility.
The global Disaster Recovery as a Service (DRaaS) market is forecast to reach USD 57.19 Billion by 2026, according to a new report by Reports and Data. Disaster recovery as a service (DRaaS) is a backup service and cloud computing model that uses the resources of the cloud to protect data and applications from the disruption caused by disaster. DRaaS provides an organization a backup system that permits business continuity in case of any system failure.
DRaaS is also known as business continuity as a service (BCaaS) and is offered with a business continuity plan (BCP) or disaster recovery plan (DRP). DRaaS ensures complete replication and backup of all cloud data while serving as a secondary infrastructure. It allows an organization to continue with daily business processes while the existing one undergoes repair. DRaaS permits these applications to run on virtual machines without any real disaster.
North America led the market with a share of 32.1% in the year 2026. The United States has been at the forefront as an early adopter for the latest technologies and software to manage customer care. The region dominated the global market owing to the high awareness and high demand for the implementation of the recovery-as-a-service providers.
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Key participants Bluelock, IBM, lland, Microsoft, Infrascale, NTT Communications, Tierpoint, Amazon Web Services, Acronis, and Sungard AS, among others.
Further key findings from the report suggest
• The backup and recovery segment dominated the service type segment, as it is cost-effective, secure, reliable, automated, and scalable solutions to enterprises and ensure the continuation of business in case of an event. The segment held a market share of 38.7% in the year 2018.
• Small and medium-sized enterprises held a market share of 33.2% in the year 2026. Most of the SMEs are unable to afford the IT infrastructure needed to safeguard their data. They are quickly adopting the DRaaS cloud computing model to help ensure the safety of their data.
• The emergence of public cloud has brought several advantages to both business and IT, including lower innovation costs, better usage of flexible capital expenditure and resources. They are true for crafting a disaster recovery strategy for the enterprise. Public cloud vendors like Microsoft Azure, Amazon, and Google Cloud offer DRaaS through partners and may also offer on their own.
• The key advantage of cloud-based DRaaS is its capability to quickly failover applications, reconnect users via Remote Desktop Protocol (RDP) or VPN, and orchestrate failback to rebuild servers in the customer data center. Cloud Service Providers is forecasted to grow with a CAGR of 42.1% during the forecast period.
• The market for Disaster as a Service (DRaaS) has witnessed maximum adoption from the BFSI segment. One of the advantages of DRaaS in the BFSI sector is that they don’t have to maintain their own data center. Customer relations are crucial and providing uninterrupted services gains loyal clientele. Preparedness in case of a disaster is crucial for the bank’s daily operations, brand loyalty, and retention.
• The Asia Pacific is forecasted to grow with a CAGR of 42.2% during the forecast period. The emerging trend of startups and enterprises going digital is one of the driving factors of the market in the region. High growth in countries such as China and Japan are also propelling market growth.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/disaster-recovery-as-a-service-draas-market
For the purpose of this report, Reports and Data have segmented into the global Disaster Recovery as a Service (DRaaS) market on the basis of service type, service provider, organization size, deployment mode, industry vertical, and region:
Service Type Outlook (Revenue: USD Billion; 2016-2026)
Backup and Recovery
Service Provider Outlook (Revenue: USD Billion; 2016-2026)
Managed Service Providers
Cloud Service Providers
Telecommunications Service Providers
Organization Size Outlook (Revenue: USD Billion; 2016-2026)
Small and Medium enterprises
Deployment Mode Outlook (Revenue: USD Billion; 2016-2026)
Industry Vertical Outlook (Revenue: USD Billion; 2016-2026)
Media and Entertainment
Retail and Consumer Goods
IT and Telecommunications
Government and Public Sector
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Regional Outlook (Revenue: USD Billion; 2016-2026)
Finally, all aspects of the Disaster Recovery as a Service (DRaaS) market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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