DUBLIN--(BUSINESS WIRE)--The "Disaster Recovery as a Service (DRaaS)-Forecast from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The global Disaster Recovery as a Service market is projected to grow at a CAGR of 27.81% to reach a value of US$7.152 billion by 2025 from US$1.641 billion in 2019
There has been a rapid increase and development of advanced technologies in the fields of digital services, social media and the Internet of Things (IoT). The rising risk of the generated data being corrupted or destroyed due to disasters such as corruption of machines and malicious ransomware attacks is the major factor for the market growth of disaster recovery as a service (DRaaS) market. Industries such as healthcare, BFSI, IT and telecom among others are increasingly adopting for data recovery as a service (DRaaS) solutions in order to keep their data safe and secure so as to reduce the operational costs involved, effective management of resources, reduce downtime, and maximize their profits. This is boosting the market growth of disaster recovery as a service globally.
Lack of budget and skilled IT professionals among medium and small enterprises is further fuelling the demand for disaster recovery as a service (DRaaS) solutions since the restoration of data does not require an internet connection.
Backup as a Service (BaaS), is able to facilitate the backup of the target files and the time required to recover the data (Recovery Time Objective, RTO) and the last available point of time from which data can be restored (Recovery Point Objectives, RPO), both of which are decided by the organization and sent to the storage systems of the solution provider (who is responsible for looking after the uniformity and the recovery of the data). This is acting as a substitute for the Disaster Recovery as a Service (DRaaS) solution, which is restraining the market growth of DRaaS.
- Veeam Software
- Windstream Communications, LLC
- Sungard Availability Services
- Infrascale Inc.
- VMware, Inc
Growing adoption among small enterprises
A small enterprise segment is projected to witness a substantial CAGR during the forecast period. According to the U.S. small business administration (SBA), 99.9 percent of the country's businesses are small businesses as of 2018. Also, the small enterprise segment employs more than 47.5 percent of the private workforce in the country. According to the OECD statistics, SMEs (small and medium enterprises) account for 60 to 70 percent of jobs in most OECD countries. Since small businesses lack the required budget to hire skilled IT professionals, this, along with the emerging popularity of BYOD (Bring Your Own Device) policy, is augmenting the demand for disaster recovery as a service solution. Furthermore, medium enterprises are preferring a cloud-to-cloud deployment model to offer relatively better performance, easier access, and better and safer backup, thereby contributing to the market growth of disaster recovery as a service (DRaaS).
Retail and Communication and Technology to hold a significant share in the market
The retail industry holds significant market share on account of the growing penetration of the internet and the increasing usage of e-services. Growing preference of people for online shopping due to increased convenience, better variety, and lucrative discounts is leading to a spike in the big data volume across this sector. Since there is a continuous threat of getting the customers' private information being hijacked or destroyed due to some natural calamity, there is growing adoption of disaster recovery as a service (DRaaS) solutions across this sector.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Global Disaster Recovery as a Service Market Analysis, By Deployment Model
6. Global Disaster Recovery as a Service Market Analysis, By Enterprise Size
7. Global Disaster Recovery as a Service Market Analysis, By End-User Industry
7.4. Communication And Technology
8. Global Disaster Recovery as a Service Market Analysis, By Geography
8.2. North America
8.3. South America
8.5. Middle East and Africa
8.6. Asia Pacific
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/fnoyc2