Disaster Recovery-as-a-Service Market

Demand for Improving Resilience of Enterprises Bolstering Growth

The rising adoption of advanced resilience solutions by smaller companies as well as large enterprises is continuously accelerating the DRaaS market growth. In order to minimize planned outages, enterprises require server virtualization and cloud computing solutions as those are capable of moving the applications in temporary storage spaces during the time of recovery testing, firmware upgrade, and system maintenance. 

Besides this, in order to minimize the unplanned outages, various cloud computing services such as backup as-a-service, storage as-a-service, software as-a-service, replication services, and others are getting popular as an integral part of business computing planning.

According to FMI, the demand for advancement in enterprises resilience solutions are forecast to accelerate the global market growth in the coming years.

Surging Demand for Data Recovery Steering Growth

With the rapidly increasing demand for data recovery, most of the enterprises are using advanced technologies in order to achieve real-time communication solutions, systems with high availability, optimized IT cost, and faster recovery times.

To overcome the challenging environment posed by regulatory and dynamic business trends, the demand for data recovery solution is increasing exponentially among enterprises.

Furthermore, social networking sites and various mobile networks are used significantly among small & medium sized enterprises (SMEs) to large enterprises from industries such as  BFSI, IT & telecommunication. This is intended at efficient remote interactions. With businesses around the world seeking out advanced technologies to respond to threats especially cyber-attacks, the demand for DRaaS is likely to surge exponentially.

Key Challenges

DRaaS solutions need experts for handling and service providing. Also, the knowledge of cyber threats & security, risk management, and others is mandatory as crucial and confidential data is handled, replaced, and recovered during the DRaaS process. Lack of trained professionals may work as constraints slowing down market demand.

Due to the outbreak of novel coronavirus in the current year, various factors such as economic constraints, travel restrictions, job recession, and others have declined the market growth. As the professionals are working remotely, the cyber-attacks and crimes have increased even more making the work challenging.

Despite facing a few restraining factors due to COVID-19 pandemic, the global DRaaS market holds unlimited potential worth exploring by the key market players.

According to FMI, the global DRaaS market will be fully back to its position by the first quarter of 2021.

Region-Wise Analysis

North America DRaaS Market

North America DRaaS market has been leading and is forecast to continue offering lucrative growth opportunities through the forecast period. Advanced resilience solutions adopted by the by SMEs and large enterprises across diverse sectors has resulted in surged demand in North America DRaaS market.

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With the rapid advancement of cloud technologies coupled with the presence of well-established key end-use industries such as BFSI, IT, telecommunication, healthcare, and others in the countries such as the U.S, Canada, and others are catering to the market growth.

According to FMI, North America DRaaS market is expected to remain dominant through the forecast period.

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Europe DRaaS Market

Region-wise, Europe DRaaS market is the third-leading in the world. Rising demand from well-developed IT, business, telecommunication, and other end-use industries are highly responsible for Europe market growth.

Mushrooming data centers in countries such as France, Italy, and others are fuelling the demand for DRaaS solutions.

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South Asia & Pacific DRaaS Market

Expansion of the BFSI sector and the digital advancements across South Asia & Pacific region, especially in countries such as New Zealand, Australia, India, and others are creating opportunities for growth in the region.

As there has been rise in the demand for data recovery and risk management solutions, the South Asia & Pacific market is witnessing impressive growth in both its market value and market volume. Governments across high potential markets increasing their IT investment, which is expected to bode well for the market.

Overall, the region has been exhibiting a high rate of adoption of cloud technologies. Supported by a few mandatory government regulations, more organizations are expanding their footprint in digital platforms. With this the threat of cyber-attacks is surging. This will in turn create lucrative prospects for the growth of the DRaaS market in the region.

According to FMI, South Asia & Pacific DRaaS market is anticipated to exhibit highest growth rate of 31.3% during the forecast period.

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Category-wise Insights

Recovery & Backup Services to Remain Dominant

With advancements in banking, financial, telecommunication, and other sectors, there has been surge in recovery and back up services among these diverse range of industries.

As most of the enterprises require cost-effective solutions for fast and secure recovery rate, the recovery and backup services are being widely popular around the globe.

It is very crucial to recover significant and confidential data lost due to technical disasters or cyber-attacks.  In the other hand, keeping the back-up of data is needed very frequently during system maintenance, upgrade, or other procedures. Due to these reasons, the recovery and back up services segment is playing the leading role in service type segments.

According to FMI, the recovery and back up services segment is expected to grow further during the forecast period.

Cloud Service Provider to Gain Traction

Cloud disaster recovery or cloud DR is a set of strategies and services developed in order to back up data, resources, applications, and others to public cloud or dedicated service providers.

Being extremely useful as well as cost effective in restoring affected data, applications, and other important informations affected during the disasters, the cloud services solutions are hugely demanded all over the world.

Being the central element of business continuity, it is rapidly taking the most dominating place in the service providers segment.

According to FMI, cloud service provider will sustain as the leading service provider during the coming years.

Public Cloud to Maintain the Lead

Public cloud is hugely preferred by the various industries starting from telecommunication to healthcare, due to its hassle-free mechanisms and optimized cost.

Public cloud platform uses standard cloud computing model in order to develop multiple resources such as virtual machines, applications, memories, and others helping the remotely working users. Due to its scalability to handle work load and capability to minimize wastage of resources, public cloud is most desired segment in the deployment-wise category.

According to FMI, public cloud deployment will remain in the leading position during the forecast period.

SMEs to Catalyze the Market Demand

As small and medium scales (SMEs) business is occupying a major portion of various enterprises, this segment is majorly contributing to DRaaS market growth.

As SMEs require lesser capitals as well as lower maintenance cost, it is dominating the enterprise-wise segments in the recent years.

As the demand for cost effective data back-up, recovery, and other solutions are rapidly increasing among SMEs, the DRaaS market growth is accelerating further worldwide.

According to FMI, SMEs will remain in the key position in the near future.

BFSI to Spur Market Growth

BFSI being the largest end-user industry is mainly responsible for DRaaS market demand and growth. As the system maintenance, firmware update and other related methods are done regularly in banking, financial services, and insurance sectors, the DRaaS solutions are highly required by this industry.

Furthermore, this end user segment is more prone to cyber threats and attacks and hence need risk management solutions for efficient data protection, privacy and restoration. With the growing BFSI segment, the DRaaS market demand is increasing rapidly across the world.

According to FMI, BFSI will prevail as the main end user industry during the forecast period.

Competitive Landscape

Companies operating in the market are witnessing cut-throat competition. In order to gain competitive advantage a majority of them are relying on innovations and technological developments. There is ample focus on making DRaaS solutions more accessible. Steered by this, some of the leading companies are launching advanced solutions at competitive prices.

For instance, Axcient has released their extensive set of DRaaS solutions with reduced cost which eliminate the hardware, software licensing, hosting and maintenance costs associated with running a VMware disaster recovery site.

Citrix has launched their exclusive ‘Citrix Virtual Apps and Desktops- Disaster Recovery Planning’ covering the requirements from broad range of end users starting from BFSI to healthcare.

Sunguard has launched their exclusive Sunguard AS colocation services in order to provide a privately-owned, state-of-the-art data center with space to develop customized IT environment.

Microsoft has come up with ‘Azure Site Recovery’ offering native disaster recovery (DR) solution running on virtual machines. Microsoft Azure is the first public cloud to offer such service.

As the global DRaaS market growth is increasing exponentially, the key market players are getting stronger to give tough competition in the coming years.

Some of the key market players are-

• Amazon Web Services
• Axcient
• Citrix
• IBM
• Microsoft
• NTT Communication
• Sunguard
• Cable & Wireless Communication
• TirePoint LLC
• Bluelock LLC
• Recovery Point Systems
• Cisco Systems

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report

DRaaS Market Report: Scope

Key Questions Answered by the Report

• At what CAGR is the DRaaS market expected to grow?

  According to Future Market Insights (FMI), the DRaaS market is anticipated to grow by 24.6% CAGR during the forecast period from year 2020 to 2029.

• Which is the largest market for DRaaS?

  At present, region-wise North America is the largest market followed by Latin America and Europe.

• Which are the top companies in DRaaS market?

  Some of the top companies in global DRaaS market are Amazon Web Services, Axcient, Citrix, IBM, Sunguard, and others.

• Which is the most lucrative segment among service type of DRaaS?

  Presently, recovery & backup services segment is the most lucrative segment by service type of the DRaaS market and expected to maintain the lead throughout the forecast period.

• Which is the most lucrative segment in terms of service providers in DRaaS market?

  Cloud service provider is the most lucrative segment in service provider type segments in the global DRaaS market.

• Which region is subject to the highest growth in the global DRaaS market?

  According to FMI, East Asia DRaaS market is expected to exhibit highest growth during the forecast period.

• Which end-use industry is most dominating in the global DRaaS market?

  Presently, BFSI industry is most dominating in the global DRaaS market.

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• Is this research conducted by Future Market Insights?

  Yes, the research has been conducted by expert analysts of Future Market Insights through a combination of primary research and secondary research. To know more about how the research was conducted, you can speak to research analyst

• What research methodology is followed by FMI?

  FMI follows a methodology that encompasses demand side assessment of the market, and triangulates the same through supply side analysis. This methodology is based on use of standard market structure, methods and definitions. Request detailed methodology

• Who are the respondents for primary research?

  FMI speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, industry experts. For a full list of primary respondents, please reach out to us.

• What are the sources of secondary research?

  FMI conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request. 

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Key Segments

Service Type

• Recovery & Backup Services
• Data Protection Services
• Real Time Replication Services
• Professional Services
• Managed Services

Service Providers

• Cloud Service Provider
• Telecommunication Service Provider
• Managed Service Providers

Deployment

• Public Cloud
• Private Cloud
• Hybrid Cloud

Enterprise Size

• SMEs
• Large Enterprises

Industry

• BFSI
• IT & Telecommunication
• Retail & Consumer Goods
• Government
• Healthcare
• Media & Entertainment

Region

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific Excluding Japan
• Middle East and Africa
• Japan