Disaster Recovery as a Service Market Industry Players to Show High Growth Rate by 2024

Global Disaster Recovery as a Service Market: Overview

With the help of disaster recovery as a service, the enterprises can duplicate their virtual and physical servers through the third party vendor’s cloud services thus avoiding the loss of data which can be caused by human errors or other reasons. To develop own disaster recovery strategy can be complex, expensive, and time-consuming, thus increasing the demand for the disaster recovery as a service solution.

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Global Disaster Recovery as a Service Market: Segmentation

The market for disaster recovery as a service is globally fragmented into cloud type, verticals, services, and end users. Based on the cloud type, the global market is segregated into public cloud, private cloud, and hybrid cloud. Based on the verticals, the market is categorized into healthcare, transportation, government, BFSI, media and entertainment, and others. Based on the service type, the market is divided into backup, professional services, real-time protection, data security, and others. Based on the end user, the market is bifurcated into large enterprises and SMEs.

Global Disaster Recovery as a Service Market: Growth Factors

The major factor that is driving the disaster recovery as a service market is the growth in the adoption rate of virtualization and automation in the industrial sectors. The benefits of using disaster recovery as a service solution is that they are flexible and are cost effective along with this the increasing trend of the enterprises to use managed services is accelerating the demand of the market. The factors that are going to restrain the growth of the market is the lack of security and compliance and the growing bandwidth requirements will limit the market growth.

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Global Disaster Recovery as a Service Market: Regional Analysis

The global disaster recovery as a service market is regionally diversified into Western Europe, Eastern Europe, Latin America, the Middle East & Africa, North America, and Asia Pacific. The regions that are dominating the disaster recovery as a service market are North America and Western European regions. The factors that contribute to the market growth in the North American region are the increased presence of the key disaster recovery as a service vendors and the U.S. has the highest adoption rate of this technology. The market growth in the Asia Pacific region is expected to experience a significant market growth in the coming years. The factors that are contributing to the market growth in Asia Pacific region are increasing cases of the cyber attacks, growing business automation, and the increase in the investments that are made in this technology by the organizations. The regions such as Eastern Europe and Latin America will also experience a significant market growth in the coming years.

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Global Disaster Recovery as a Service Market: Competitive Players

The key market players that are involved in the disaster recovery as a service market include Amazon Web Services, Microsoft Corporation, International Business Machines Corporation, Vmware, Inc., Cisco Systems, Inc., and others.

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