Variant
Market Research estimated that the global disaster recovery as a service
(DRaaS) 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. There are the several
driving factors of the market such as rising demand for personalized IT
services, high adoption of cloud based services and strict regulations for
disaster recovery globally. However, security threats and high network
bandwidth requirements may restrain the growth of the market. Furthermore, growing
demand for managed services among various enterprises and rising trend of
virtualization technologies are the major opportunities of the market.
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Key
segments of the global disaster recovery as a service (DRaaS) market are company
size, deployment model, cloud type, service type, service providers,
application and geography. Small companies, mid-sized companies and large
companies are the key sub segments of the company size segment. In 2016, mid-sized
companies sub segment accounted for the highest market share and small
companies is expected to dominate the segment during the forecast period
2016-2024. Moreover, application segment has been segmented into education,
retail & e-commerce, media & entertainment, manufacturing &
logistics, IT & telecom, BFSI, government and others.
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North
America, Europe, Asia-Pacific and rest of the world are the major geographical
sub segment of the global disaster recovery as a service (DRaaS) market. In
2016, North America region accounted for the highest market share of 34.5%, and
is also predicted to grow at the highest CAGR during 2016-2024, owning to, high
adoption by public and government sectors.
The
market players have been adopting several strategies to increase their product
portfolio and geographical presence. The key market players in the disaster recovery
as a service (DRaaS) market are Microsoft Corporation, VMWare, Inc., IBM Corp.,
HP Enterprises Company, NTT Communications Corporation, Cisco Systems, Inc.,
Symantec Corporation, Amazon Web Services, SunGard Availability Services, and
TierPoint, LLC, among others.
For information, contact:
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