The disaster recovery as a service market size is anticipated to expand at significant CAGR during forecast period 2021–2028. Growth of the market is attributed to rapid urbanization, increasing spending on advances technologies, and rising adoption of work from home model.
In a third-party environment of cloud computing, the disaster recovery as a service is a cloud computing service system that creates backup of its IT infrastructure & data and provide all the DR orchestration, by giving permission to organization to regain functionality and access to IT sector in disaster time and after disaster. For business continuity the disaster recovery planning is important. The disaster recovery as a service comes under the cloud computing services.
The COVID-19 pandemic has disturbed many sectors on an exceptional ratio. However, disaster recovery as a service sector has emerged stronger from this incident. While many other sectors are finding it hard to run easily, the companies that selected disaster recovery as a service infrastructure are operating fine. Cloud-based database security assists in backup and trouble-free data storage because of its scalability. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Increase in use of disaster recovery as services in healthcare sector is projected to boost the market.
- Rising usages of biometrics in smartphones is the major factor fueling the market.
- Lack of awareness about the disaster recovery as a service is projected to restrict the market expansion during the forecast period.
- High price of services is anticipated to hamper the market growth in the coming years.
- R&D investment and technological advancement in disaster recovery as a service market is projected to offer lucrative opportunities for the market players
Scope of the Report
The report on the disaster recovery as a service market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Disaster Recovery as a Service Market–Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018-2019
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Forecast Period
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2021-2028
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Segmentation
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Services Types (Data Protection, Real-time Replication, and Backup & Restores), End-user Verticals (Healthcare, BFSI, Government, IT, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players covered in the Report
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BIOS Middle East group; C & W Business Ltd.; IBM Corp.; Bluelock LLC; Microsoft Corp.; TierPoint LLC; iLand Internet Solutions Corp.; Sungard Availability Services LP; Expedient Holdings USA LLC; and Recovery Point Systems Inc.
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Market Segment Insights
The backup & restores segment accounts for a key share of the market
Based on services types, the disaster recovery as a service market is fragmented into data protection, real-time replication, and backup & restores. The backup & restores segment accounts for a key share of the market. Growth of the market is attributed to rising industrialization and increasing technological advancement in disaster recovery as a service. However, the data protection segment is anticipated to expand at a rapid pace during the forecast period due to rapid expansion in development & research, wide range of applications in healthcare industry, and increasing per capita income.
The IT segment is anticipated to hold significant market share
On the basis of end-user verticals, the market is divided into healthcare, BFSI, government, IT, and others. The IT segment accounts for a significant share of the market. Growth of the market is attributed to increasing demand for cloud-based solutions, increasing number of medium & small enterprises, and rising adoption of hybrid cloud system. The healthcare segment is anticipated to expand at a rapid pace during the forecast period due to factors such as rising number of SMEs, rising investment by government & private sectors, and increasing population.
North America is estimated to hold major market share
On the basis of region, the disaster recovery as a service market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Asia Pacific is estimated to expand at a high CAGR during the forecast period due to factors such as presence of major market players and rapidly emerging economy. The market of North America is estimated to hold a major market share due to rapidly growing number of working people, increasing application through cloud-based disaster recovery, and fast recovery of data during & after disaster.
Segments
The disaster recovery as a service market has been segmented on the basis of
Services Types
- Data Protection
- Real-time Replication
- Backup & Restores
End-user Verticals
- Healthcare
- BFSI
- Government
- IT
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- BIOS Middle East group
- C & W Business Ltd.
- IBM Corp.
- Bluelock LLC
- Microsoft Corp.
- TierPoint LLC
- iLand Internet Solutions Corp.
- Sungard Availability Services LP
- Expedient Holdings USA LLC
- Recovery Point Systems Inc.
Competitive Landscape
Key players competing in the disaster recovery as a service market include BIOS Middle East group; C & W Business Ltd.; IBM Corp.; Bluelock LLC; Microsoft Corp.; TierPoint LLC; iLand Internet Solutions Corp.; Sungard Availability Services LP; Expedient Holdings USA LLC; and Recovery Point Systems Inc.
Some of these players are using several market strategies such as collaborations, acquisitions, partnerships, merger, product launches, and capacity expansion to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.
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