The latest report by IMARC Group, titled “Disaster Recovery as a Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on the global disaster recovery as a service market growth. The global market size reached US$ 8.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 70.8 Billion by 2032, exhibiting a growth rate (CAGR) of 26.57% during 2024-2032.
Disaster recovery as a service (DRaaS) is a specialized offering in the cloud computing sphere that allows businesses to back up and recover essential data and applications in the event of a disaster, such as a cyberattack, power outage, or natural calamity. It ensures that a business’s critical operations are not interrupted or can be quickly resumed, maintaining both data integrity and availability. DRaaS employs a mix of data replication, high-availability solutions, and proven methods to recover data and system functionality instantaneously. It is mainly designed for businesses that need to maintain uninterrupted services and safeguard valuable information. As a result, DRaaS solutions are widely utilized by companies across various sectors, including healthcare, finance, and retail, to mitigate risks and ensure business continuity.
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Disaster Recovery as a Service Market Trends and Drivers:
The global disaster recovery as a service market is primarily driven by the escalating prevalence of cyber threats, including ransomware and data breaches, that compel businesses to invest in robust disaster recovery solutions. Additionally, the growing dependency on digital platforms for business operations has made data more vulnerable, which in turn has catalyzed the demand for secure and efficient recovery services. Besides this, regulatory requirements in certain sectors mandate the implementation of disaster recovery plans, further supporting the market growth. Moreover, technological advancements such as automated recovery and real-time monitoring are improving the effectiveness and reliability of DRaaS, making it increasingly appealing for businesses worldwide, thereby propelling market growth.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Service Type:
- Backup and Recovery Services
- Real-time Replication Services
- Data Protection Services
- Professional Services
- Training, Education, and Consulting Services
- Support and Maintenance Services
Breakup by Service Provider:
- Cloud Service Providers
- Managed Service Providers
- Telecom and Communication Service Providers
- Others
Breakup by Deployment Model:
- Public Cloud
- Private Cloud
- Hybrid Cloud
Breakup by End-User:
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
Breakup by Vertical:
- BFSI
- IT
- Government
- Healthcare
- Manufacturing
- Others
Breakup by Region:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Competitive Landscape with Key Players:
- Amazon Web Services
- Bluelock LLC
- C and W Business Ltd
- Geminare Incorporated
- IBM Corporation
- iLand Internet Solutions Corporation
- Infrascale Inc.
- Microsoft Corporation
- Recovery Point Systems Inc.
- Sungard Availability Services LP
- TierPoint LLC
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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