Disaster Recovery as a Service Market Projected To Gain Significant Value By 202
Disaster Recovery as a Service Market - Overview:
Disaster recovery as a service (DRaaS) is a cloud computing and backup service model that uses cloud resources to protect applications and data from disruption caused by disaster. It gives an organization a total system backup that allows for business continuity in the event of system failure. Disaster recovery as a service is a comprehensive third-party service that uses cloud and on-premise resources to back up vital data and applications, as well as providing system failover to a secondary infrastructure. Disaster recovery as a service replicates on production infrastructure and all its processes onto a secondary, or recovery, infrastructure so that transition to a backup environment seamlessly, allowing business services to continue as usual.
The cyber landscape for businesses has become extremely diverse with new threats which has created a diverse market for disaster recovery as a service market globally. Market Research Future, a firm which specializes in market reports related to the Information and Communications Technology sector among others, published in its recent report on Disaster Recovery as a Service Market Research Report- Global Forecast 2023 that the sector will develop at a rate of 44% CAGR with a revenue growth of USD 21 Billion by 2023.
The disaster recovery as a service market is widely influenced by the increased adoption rate of cloud based and speedy recovery services. Since DRaaS enables full replication and storage of cloud data and applications it is favored by many business organizations that have migrated to cloud storage. As protection of information online is increasingly becoming paramount for individuals as well as businesses, the sector for DRaaS continues to grow and evolve.
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Amazon Web Services (U.S.), IBM Corporation (U.S.), Microsoft Corporation (U.S.), Sungard Availability Services (U.S.), VMware Inc. (U.S.), Cable & Wireless Communications (U.K.), Cisco Systems (U.S.), HP Enterprises Company (U.S.), Treo Information Technology (Turkey) and NTT Communications (Japan) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Disaster Recovery as a Service Market.
Latest Industry News:
Jan 2018 Unitrends, which is one of the global leaders in all-in-one enterprise backup and continuity solutions, announced recently that Unitrends MSP, a new wholly owned subsidiary dedicated to delivering Business Continuity and Disaster Recovery (BCDR) and Disaster Recovery as a Service (DRaaS) products to the MSP market. With dedicated R&D, sales, service and support teams, Unitrends MSP provides a best-in-class, scalable solution that enables MSPs to meet the unique needs of their demanding customers. Unitrends MSP offerings are derived from Unitrends enterprise-class BCDR and DRaaS products enabling MSPs to deliver proven solutions to their customers. They also have been extensively tested by over 50 MSPs in the last year.
Nov 2017 Carbonite is preparing to launch a disaster recovery as a service (DRaaS) platform in the first half of 2018. Partners including MSPs will play a key role in delivering the DRaaS service to midmarket customers. The DRaaS offering has entered an alpha- or beta-testing stage — with a production launch expected next year.
July 2017 Pax8, a value-added cloud distributor announced a strategic partnership with Datto, Inc., which is a provider of total data protection solutions for Managed Service Providers (MSPs). Through the new partnership, Pax8 will provide the full suite of Datto’s business continuity solutions worldwide, including backup and disaster recovery as a service (DRaaS) offerings, managed networking solutions, and cloud-to-cloud (C2C) backup services.
July 2017 Axcient and eFolder are merging to combine their cloud backup, disaster recovery (BDR), business continuity and DRaaS solutions. Financial terms were not disclosed. The deal comes only a week after Nachtrab shifted to the CEO role at eFolder. By bringing together the strengths of both Axcient and eFolder, the combined company will be able to service the full spectrum of businesses from SMB to mid-market with a broader set of solutions designed to maximize IT availability and employee productivity.
July 2017 Arcserve, LLC, announced recently the acquisition of Zetta, a leader in cloud-first disaster recovery (DR) solutions and data center IP. Zetta’s offerings provide organizations with direct-to-cloud disaster recovery as a service (DRaaS) and backup as a service (BaaS) to quickly and reliably protect access and recover virtual and physical data without the need for extra hardware. The terms of the transaction were not disclosed. This transaction further increases Arcserve’s market share on the heels of the company’s recent email archiving technology acquisition.
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North America is estimated to account for the largest share of the market in 2017. North America has a wide presence of key disaster recovery as service providers, as well as U.S. is considered as the high adopter of connected technology. Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth in disaster recovery as a service market in North America attributes to the technical advancements and increasing investments in cloud based solutions in that region.
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