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 34.7% from 2016
to 2024. By geography, Asia-Pacific and Rest of the World (RoW) are expected to
grow at a CAGR of 37.2% and 34.3%, respectively, during the forecast period.
The major driving factors of the
Disaster Recovery as a Service market are, growth in preference for
commoditized IT services and increasing adoption of cloud based services. Moreover,
rise in legislation of stringent disaster recovery regulations globally, fuels
the growth of the market. However, lack of security, and high network bandwidth
requirements may hamper the growth of the market. Increasing trends of managed
services among enterprises, and rising awareness towards virtualization
technologies would provide several growth opportunities for the market during the
forecast period.
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The global DRaaS market is categorized
into service type, cloud type, service providers, deployment model, company
size, application, and geography. The service type segment includes professional
services, backup, data security, and real-time protection. By cloud type
segment classified into private cloud, public cloud, and hybrid cloud. By
service segment the market is bifurcated into, cloud service provider (CSP), managed
service provider (MSP), and telecom & communication service provider. The
market by deployment model is classified into from cloud DRaaS, to cloud DRaaS,
and in cloud DRaaS. The market by company size is segregated into, large
companies, mid-sized companies, and small companies. By application segment,
the classifications are, government, IT & telecom, education, retail &
e-commerce, media & entertainment, BFSI, manufacturing & logistics, and
others.
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By geography, the market has been
categorized into North America, Europe, Asia-Pacific, and RoW. In 2016, North
America accounted for the largest market share of 34.5%, and is expected to
dominate during the forecast period. The development of market is majorly seen owing
to deployment of DRaaS by public and government sectors in countries such as
the U.S. Europe accounted for the second largest market share of 29.2%, due to
technological advancement and rising deployment of DRaaS across various
application areas. In terms of growth, Asia-Pacific is anticipated to attain
the fastest CAGR of 37.2% during the forecast period 2016-2024, driven by growing
awareness regarding cloud based recovery solutions in the region.
Major players in the global disaster
recovery as a service market are, HP Enterprises Company, Cisco Systems, Inc., Symantec
Corporation, IBM Corp., VMWare, Inc., Microsoft Corporation, Amazon Web
Services, NTT Communications Corporation, SunGard Availability Services, and TierPoint,
LLC, and among others.
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