Global
Disaster Recovery as a Service (DRaaS) Market Report, published by Variant
Market Research, forecast that the global market is forecasted to reach $19
billion by 2024 from $2 billion in 2016; growing at a CAGR of 34.7% from 2016
to 2024. The disaster recovery as a service (DRaaS) market is majorly driven by
the following driving factors such as rising demand for commoditized IT
services, growing adoption of cloud based services and stringent regulations
for disaster recovery. However, lack of security & compliance and need for
high network bandwidth might hinder the growth of the market. Furthermore, rising
demand for managed services among enterprise and growing awareness of visualization
technologies would provide growth opportunities for the market.
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Service
providers, company size, deployment model, cloud type, service type,
application and geography are the key segments of the global disaster recovery
as a service (DRaaS) market. Service providers segment has been segmented into cloud
service providers (CSP), telecom & communication service providers and
managed service providers (MSP). Additionally, Application segment includes BSFI,
government, manufacturing & logistics, IT & telecom, retail &
e-commerce, media & entertainment, education and others.
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The
global disaster recovery as a service (DRaaS) market by geography is bifurcated
into North America, Europe, Asia-Pacific and RoW. North America held the
highest market share of 34.5% in 2016 and is anticipated to grow at the fastest
CAGR during the forecast period. Europe accounted for the second largest market
share.
Various
strategies have been adopted by the market players to boost their geographical
presence and product portfolio. The major players in the disaster recovery as a
service (DRaaS) market include IBM Corp., HP Enterprises Company, Amazon Web
Services, TierPoint, LLC, Cisco Systems, Inc., SunGard Availability Services,
Symantec Corporation, Microsoft Corporation, NTT Communications Corporation,
and VMWare, Inc., among others.
For information, contact:
VARIANT MARKET RESEARCH LLP
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