Market Highlights
Benefits of cost-effectiveness and fast data recovery, along with flexibility offered by disaster recovery as a service (DRaaS) are expected to boost the growth of the global disaster recovery as a service market, reveals MRFR after conducting an exhaustive study on the market. According to MRFR analysis, the global market of disaster recovery as a service market is expected to strike a 44% CAGR during the forecast period (2017 to 2023) and touch a valuation of USD 21 Billion by 2023.
The proliferation of cloud services is estimated to augment the disaster recovery as a service market in the upcoming period. The surge in intensifying business needs is predicted to enhance the disaster recovery as a service market.
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Segmentation:
The segment evaluation of the disaster recovery as a service market is carried out on the basis of the service provider, deployment, service type, region and verticals. On the basis of deployment, the disaster recovery as a service market is segmented into hybrid cloud, public cloud, and private cloud. Based on the service provider, the disaster recovery as a service market is segmented into managed service provider, telecom & communication service provider, cloud service provider, and others. The verticals-based segmentation of the disaster recovery as a service market consists of BFSI, Information Technology (I.T.), healthcare, retail, media, telecommunication, manufacturing, government, and others. On the basis of service type, the disaster recovery as a service market is segmented into support & maintenance, professional services, real-time replication, data security service, system integration, backup service, and training & consulting.
Detailed Regional Analysis
The regional segments of the disaster recovery as a service market are; North America, Asia Pacific, Europe, and the Rest of the World. According to MRFR analysis, the market in North America is expected to hold a significant share of the global market. The market in the Asia Pacific is expected to exhibit fast-paced expansion. The generation of online data is high due to rapid industrialization. Hence, the growing need for data protection and recovery in cases of mishaps is expected to boost the disaster recovery as service market in the region. The availability of effective solutions for disaster mitigation in North America is expected to gain traction for the regional market. In addition, technical advancements and rise in investments in cloud-based solutions for disaster mitigation is expected to propel the growth of the North America regional market. The US is expected to make good profits for the regional market. In Europe, the presence of numerous disaster recovery as a service provider can spur regional market growth.
Competitive Analysis
The economic downturn is predicted to induce contenders into carrying out deliberation of their opportunities to plan for the long term expansion. The marketing budgets in the market are estimated to be restricted due to the lack of liquidity in the market, and this is foreseen to transform the overall market in the impending period. Also, the market is estimated to focus on a locally based structure to reduce operating cost in these times. The imperative conditions for growth are estimated to spur the market considerably in the impending period. The optimization of the capital in the market is predicted to create promising options for growth in the impending period. The recalibration of the supply chains is estimated to undertaken at a fast pace in this periodThe need to transform the service and the product delivery is projected to create a favourable scope for development of the market. The competition in the market is estimated to ramp up because of the lack of profitable opportunities in the market.
The central companies in disaster recovery as a service market are Sungard Availability Services (U.S.), VMware Inc. (U.S.), Microsoft Corporation (U.S.), Cable & Wireless Communications (U.K.), Cisco Systems (U.S.), H.P. Enterprises Company (U.S.), IBM Corporation (U.S.), Treo Information Technology (Turkey), Amazon Web Services (U.S.), and NTT Communications (Japan) among others
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Disaster Recovery as a Service Market, By Service Type (Real-Time Replication, Backup, Data Security), By Service Provider (Cloud, Managed, Telecom & Communications), By Deployment (Private, Public, Hybrid) - Forecast 2027
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