Global Disaster Recovery as a Service Market: Mainly Propelled by Legislation of
Global Disaster Recovery as a Service (DRaaS) Market Report, published by Variant Market Research, forecast that the global market is expected to reach $19 billion by 2024 from $2 billion in 2016; growing at a CAGR of 34.9% from 2016 to 2024. By geography, Asia-Pacific and Rest of the World (RoW) are anticipated to grow at a CAGR of 37.3% and 36.4%, respectively, over the forecast timeframe.
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Rise in preference for commoditized IT services fuels the global disaster recovery as a service market
Legislation of strict disaster recovery regulations worldwide and development in adoption of cloud-based services are the major physical security trend witnessed in the global market. In addition, increasing focus on automated change management have also supported the market growth. However, lack of compliance & security, and high network bandwidth necessities are the major restraints for the market growth. Moreover, growing awareness towards virtualization technics and increasing trends of managed services amongst enterprises and are expected to equally influence the overall growth of market during the forecast timeframe.
Service type, application, service providers, cloud type, deployment model, and company size are the major segmentation considered in the global disaster recovery as a service market. Service type the segment is divided into real time protection, backup, professional services, and data security. Application segment is bifurcated into retail & e-commerce, IT & telecom, government, education, media & entertainment, manufacturing & logistics, BFSI, and others. By service provider segment includes cloud service provider (CSP), managed service provider (MSP), and telecom & communication service provider. Cloud type segment consist of public cloud, private cloud, and hybrid cloud. Moreover, deployment model segment is categorized into cloud DRaaS, in cloud DRaaS, and from cloud DRaaS. Further, by company size the segment is classified into small, mid-sized, and large companies.
By geography, the global harmonic filter market has been bifurcated into Europe, North America, Asia-Pacific and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe covers Italy, France, Germany, UK, and Rest of Europe. Asia-Pacific is categorized into Japan, China, India, and Rest of Asia-Pacific, while Rest of the World is bifurcated into Middle East, South America, and Africa.
In service type segment, backup service is expected to play a major key role in the Disaster Recovery as a Service market.
The backup service type is anticipated to have the maximum market share in the service type segment of the DRaaS market in the forecast period. Backup service plays a major key role in the DRaaS market, as it offers automated, cost-effective, automated, reliable and scalable solutions to organizations to ensure the business stability in the occurrence of disaster.
By service provider segment, managed service providers (MSPs) segment is projected to grow at the maximum rate in the forecast period.
Managed service providers MSPs segment is anticipated to grow at the highest rate in the DRaaS market during the forecast period. The high growth is attributed as it offers remote management and monitoring of IT infrastructure of the end-user under a subscription model.
Mid-sized companies sub segment projected for the largest market during the forecast timeframe.
Mid-sized companies sub segment projected for the largest disaster recovery as a service market share in 2016, while, small companies segment is expected to grow at the rapidest CAGR during the forecast timeframe.
North America dominated the leading share in the global Disaster Recovery as a Service Market
In the year 2016, North America generated the highest revenue accounting for 34.5% of the total market share, driven by the deployment of DRaaS by government and public sectors. Europe occupied the second largest share of 29.2%, due to advancement in technology and increasing deployment of DRaaS across various application areas. Asia-Pacific is projected to achieve the fastest CAGR of 37.2% throughout the forecast period 2016 – 2024. The high growth can be seen due to major demand in manufacturing industries and growing awareness concerning cloud-based recovery solutions. In addition, St. Helena is also witnessing a high demand in the global disaster recovery as a service market.
Key players profiled in the report include VMWare, Inc., IBM Corp, Cisco Systems, Inc., HP Enterprises Company, Symantec Corporation, Amazon Web Services, Microsoft Corporation, NTT Communications Corporation, TierPoint, LLC, and SunGard Availability Services, among others.
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Scope of Disaster Recovery as a Service Market
Service Type Segments
- Professional Services
- Data Security
- Real Time Protection
- IT & Telecom
- Media & Entertainment
- Retail and E-Commerce
- Manufacturing & Logistics
Service Providers Segments
- Telecom & Communication Service Provider
- Cloud Service Provider (CSP)
- Managed Service Provider (MSP)
Cloud Type Segments
- Public Cloud
- Private Cloud
- Hybrid Cloud
Deployment Model Segments
- In cloud DRaaS
- To cloud DRaaS
- From cloud DRaaS
Company Size Segments
- Small Companies
- Mid-Sized Companies
- Large Companies
- North America
- South America
- Middle East
About Variant Market Research
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